PAULSON'S Mortgage Bailout Plan = Privatize Gains and Socialize Losses !!

[Falseflagop]

What a f'in joke!

People who bought the paper expect cash flow and now they are getting screwed, by people circumventing CONTRACT LAW?? How is this possible. We are a debtor nation what country will loan us money now?

NO ONE !! USD ready to crash because of this and more RATE CUTS all to bailout the crooks on WALL ST !!


This is the crap that needs to end time to take this country back from the whores that run it, RON PAUL on money is 100% right!

[murrayrothbard]

private gains / socialized losses is FASCISM!

[angelatc]

I have to say though - I am wondering how all this plays into the "free market" theories that we all espouse?

People buy too much stuff on credit. They buy houses that cost too much of their income, they take out credit cards that charge usery rates, they take out mortgages knowing that their rates are going to skyrocket, they take out second mortgages to "free up cash."

Getting the government to regulate it isn't the answer, but how do you simply stop people from doing dumb things?

[Falseflagop]

do they get HUGE REFUND CHECKS NOW?


The stock market is now ready to crash imho

[slantedview]

"PAULSON'S Mortgage Bailout Plan = Privatize Gains and Socialize Losses !! "

Bingo. Also everyone should take note that tan-man (Countrywide CEO Mozilo) is begging Fannie Mae/Freddie Mac to raise conforming limits so they can pawn more crappy loans off on the govt. (which means us). Another instance of privatizing gains, socializing losses.

[ctb619]

I have to say though - I am wondering how all this plays into the "free market" theories that we all espouse?

People buy too much stuff on credit. They buy houses that cost too much of their income, they take out credit cards that charge usery rates, they take out mortgages knowing that their rates are going to skyrocket, they take out second mortgages to "free up cash."

Getting the government to regulate it isn't the answer, but how do you simply stop people from doing dumb things?

This is largely a function of Federal Reserve policy -- in a free market we wouldn't have these types of excesses.

[a_european]

private gains / socialized losses is FASCISM!

Yeah :/ Mussolini said that "Corporatism" may be a better name.

The free market would punish such bad economic behavior hard. Very hard. And thats how it should be.


@ angelatc "how do you simply stop people from doing dumb things?"
Nobody would even dare to act like this, because you can't expect a bailout. Also, money was artifically cheap. Add government propaganda "Trust your bank", "Spend, spend, spend" to the mix and your headed for desaster.

[Unspun]

Getting the government to regulate it isn't the answer, but how do you simply stop people from doing dumb things?

Stop bailing them out and stop lending them money. This will force them to become fiscally responsible rather than ask for handouts, bailouts, welfare (social and corporate), and entitlements.

[Falseflagop]

These GOLDMAN SACHS whores are destroying this nation just people are to stupid to realize what they are doing!

They will not leave a scrap of meat on our bones!

[stalcottsmith]

People are quick to blame capitalism and free markets because we are giving a rotten example. They believe that is what we are operating under. We are not. These schemes are only possible because of the Federal Reserve banking cartel and our funny money. Sound money would not stop every abuse but it would prevent 95% of this activity.

[Falseflagop]

That why we need RON PAUL asap!! These crooks are fleecing a nation while pointing fingers to the brokers them selves!


They just destroyed the CDO/MBS market altogether, they were frozen now they are a ROCK! These bonds were based on cashflows now there is NO CASHFLOWS so they will be worth pennies!

Boys this is just another BAILOUT for the whores on Wall Street!

[lurker]

I have to say though - I am wondering how all this plays into the "free market" theories that we all espouse?


http://www.lewrockwell.com/paul/paul404.html

[murrayrothbard]

I have to say though - I am wondering how all this plays into the "free market" theories that we all espouse?

People buy too much stuff on credit. They buy houses that cost too much of their income, they take out credit cards that charge usery rates, they take out mortgages knowing that their rates are going to skyrocket, they take out second mortgages to "free up cash."

Getting the government to regulate it isn't the answer, but how do you simply stop people from doing dumb things?

All of this "credit" is fictional. It is mostly created by credit expansion (i.e fractional reserve banking). Bring back sound money and sound banking and this situation is not possible.