SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Formerly About Advanced Micro Devices
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Road Walker who wrote (421698)10/2/2008 12:10:37 PM
From: tejek  Read Replies (1) of 1579773
 
Then Japanese politicians, acting with the same sublime ineptitude that our own House of Representatives displayed this week, ignored a growing banking crisis and dithered on a bailout. And so I watched from Tokyo as a mighty economy melted like an iceberg in the Caribbean.

There is a belief that all those in favor of the bailout are real happy with the situation and are all for gov't intervention in the markets. When it comes to me, they could not be more wrong. I was disgusted when Cramer first proposed a bailout facsimile over a year ago. Not only do I not want my tax money going to bail out banks but I am pissed to hell at the greedy SOBs who caused these problems. However, the situation has grown more dangerous with each passing week. Spreads today between the fed funds rate and the LIBOR rate are higher than they were yesterday which was the highest in this country's history. Lending by banks has all but dried up. US car sales were down by 50% in Sept while they were up in Canada. That tells the story better than I can. This country is in serious trouble if our banks continue not to lend. It will break the back of the American economy. That's why I am holding my nose and supporting the bailout.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News