Nay Vote For Taxpayer Bailout

[fused]

The DJIA is down 492 points, what happens next?

[Anonymous]

Now, 511.66 points (2:18 EST).

Oh, what fun.

[MidnightVoice]

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fused wrote:

what happens next?

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Major recession?

[cadavis0609]

then major depression.

[LouMinotti]

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@fused wrote:

The DJIA is down 492 points, what happens next?

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Pain.

[Anonymous]

I still believe the bailout would have done more harm than good. The government is not capable of regulating a free market more efficiently than the free market itself.

[Anonymous]

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@Anonymous wrote:
I still believe the bailout would have done more harm than good. The government is not capable of regulating a free market more efficiently than the free market itself.

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Yeah, I'm no economics expert, but I'd have to agree. By the time they passed the bill to "fix" the situation, there'd be so much stupid crap rided on that it'd be either pointless or do damage elsewhere in our system. :/

And that's assuming that the whole bill held water to begin with.

Anyone have any ideas on what WILL happen??

[fused]

I am NOT an expert either, but what we are seeing here is far worse than the S&L crisis of the 80's and 90's. If one of the big four, BoA, JP Morgan Chase, HSBC or CITI, fails, then all bets are off.

[Anonymous]

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@fused wrote:

I am NOT an expert either, but what we are seeing here is far worse than the S&L crisis of the 80's and 90's. If one of the big four, BoA, JP Morgan Chase, HSBC or CITI, fails, then all bets are off.

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So what do you think it will take to "fix" all this? Do you think the market will "right itself" or does the government really and truly have to step in?

Personally, I kinda felt that the big ugly companies that screwed over so many people should have just been allowed to ... fail. I don't know how that would affect the "little guy" investors and customers, though. Like I said, I ain't an expert. :/

I know you're no "expert" in this, but I think you've got FAR more intelligence than these guys do. So what do YOU think?

[Scamp]

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Wonderin wrote:
Now, 511.66 points (2:18 EST).

Oh, what fun.

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Down 777.68 (1:30 pm AZ time - not sure which zone we're in step with right now)

*sigh*

I guess I should be glad that I have parents who grew up during the Great Depression and taught me lots of frugal habits that I can just pick up and dust off and start using again.