Hardball: Erin Burnett & Jim Cramer on Economy 09/19/08

[ProfessorPlum]

Run time: 07:32 https://www.youtube.com/watch?v=2mpbgFSPXXA   Posted on YouTube: September 21, 2008 By YouTube Member: Views on YouTube: 0   Posted on DU: September 22, 2008 By DU Member: ProfessorPlum Views on DU: 1255

 
I found this discussion not entirely stupid. Notes: At the end, Burnett calls the choice to bail out these financial institutions a "Hobson's choice", which it is not. This is more like a Catch-22 or a choice with no good alternatives. They half-heartedly explain the cause of the crisis, except they leave out the fact that these bad loans were being rated and sold to other institutions as AAA rated. That's fraud.

[whistle]

1. This is like SNL in the financial markets, sorry we don't need comedians

...we need real solutions. Homeowners and Commercial Bank Foreclosure Protection, not Wall Street swindler and scam artist bailouts

[Jeroen]

2. This feels like a scripted play. Its not a discussion in my view n/t

[soulcore]

3. OH FUCK YOU CRAMER!

I'm 28 with some modest debt but thankfully no student loads (couldn't even afford to go to college in the first place).

I'm now a self-employed artist/designer living paycheck to paycheck, with no insurance, no nest egg, no retirement, no golden parachute and I have to eat shit lacking in nutrition because gas and food prices are through the roof!

Where the hell is MY economic bailout?

Oh, right. I don't have lobbyists or hedge fund managers or even a 401k, so I don't fucking count.

NO TAXATION WITHOUT REPRESENTATION. Time to buy a pitchfork....

[Chimichurri]

4. AND those rating agencies took money from the companies they

rated. Conflict of interest anyone? Yet I still hear, all hail the Free Markets.

[pretzel4gore]

5. waste my time!

watching these tapeworms feast on the truth is just dead air between me ears! And THEY get paid bushmoney for lying, while we get ours in funnymoney (ie greenbacks!)... THEY, and not 'wall street' or 'mainstreet' or even the gop etc were the ones who lied the Youngster into the highest elected office on earth.
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