Remember. Disaster capitalism is ready to step in if the system collapses.

[mmonk]

[malaise]

1. Wrong

The system is being destroyed to facilitate disaster capitalism.

[mmonk]

2. There are two remedies: crushing interest rates and no public spending

or a Roosevelt type of a move. Looks like DU'ers prefer the first.

[malaise]

3. The first one won't work

There are some really conservative DUers.

[KharmaTrain]

4. I Think The Term Is "Vulture Capitalism"

I had a business partner who was at a major investment house during the 90's puter boom. He'd read me all the proposals and we'd laugh at how flimsy the proposal was, yet the company granted the loan...millions of dollars tossed around. Then when that bubble burst, this same partner ended up selling the assets of the same companies he helped get the financing for...he made it coming and going.

I'm already seeing this game going on. Not a day passes where I don't get an email or see something about buying foreclosed homes at pennies on the dollar. I've heard some "economists" talk about how this bail out rewards many of these same losers by not only allowing them to sell off their junk, but still make a commission in doing so.

Disaster Capitalism? Isn't that what we've been living under since Raygun?

[mmonk]

5. In a way, yes.

Right now, our choices are the Republican plan of raising the insurance cap, and more "stimulus" of tax cuts and more "deregulation" or the Dodd approach. I see some quoting the House Republicans here. Right now, default risks are going up and even municipal bonds are no longer being issued and a downgrading is taking place. I think some sort of government intervention is needed. That doesn't mean I want to "reward" Wall Street".

[KharmaTrain]

6. I Agree...Many Don't Understand How This Affects Us All

We're about to head into a dreadful fourth quarter...and this financial mess is going to start taking a toll when stores can no longer get credit or business has dried up...lots more people will be out of work. The defaults will spread from housing to business and the mess will get a lot deeper. Yes, government intervention is needed...but it has to be in a positive way...helping to stem the foreclosure mess and helping ease the credit crunch. I, too, don't want to reward the same crooks who got us into this mess...throwing billions at them and hope they figure their way out. I'd rather see these large companies go down...others are sure to rise and on models that avoid making the same mistakes as their older, more corrupt bretheren. I'd let these companies go down...then the government goes in and re-evaluates the company and then sells off the assets that then the profits are "earmarked" for education, healthcare and infrastructure repairs.

Raising the cap won't help here as it will just push more banks over the abyss...they'd rather go for the cliff than to have to pay for their own mistakes. The GOOP thinks that we can "buy" our way out of this mess using the same old corrupt principals that created this mess in the first place.

Cheers...