Comments on: It’s just a disappointment…. http://quetwo.com/2008/09/23/its-just-a-disappointment/ thouoghts on telecommunications, programming, education and technology Fri, 04 May 2012 05:38:00 +0000 hourly 1 http://wordpress.com/ By: quetwo http://quetwo.com/2008/09/23/its-just-a-disappointment/#comment-268 Wed, 24 Sep 2008 23:50:09 +0000 http://quetwo.wordpress.com/2008/09/23/its-just-a-disappointment/#comment-268 @Chris,

Thanks for the awesome comment. It seems some of the pundits are starting to make a stink, and congress will be reviewing the bailout a bit more closely than the Administration would like.. We still have a chance to be saved!

]]> By: Chris http://quetwo.com/2008/09/23/its-just-a-disappointment/#comment-267 Tue, 23 Sep 2008 21:54:29 +0000 http://quetwo.wordpress.com/2008/09/23/its-just-a-disappointment/#comment-267 A common misconception is that the bailout is just a 700 billion dollar package, which is false. The text of the bill simply states that the 700 billion dollars is just the maximum amount that can be out at any one time. Since the fed has now taken ownership of Fannie Mae and Freddie Mac (which hold over 5 trillion in US mortgage debt), they could simply cycle all of the mortgage assets of those two companies and resell them at 20 cents to the dollar. We the tax payers would owe the difference. The potential cost of the bill is several trillion. Add that to the potential cost of the Freddie Mac and Fannie Mae stewardships, which could be up to 800 billion. Don’t forget that we bailed out AIG for 85 billion also.

Whats ironic is people think that our only option is to bail out the financial system or do nothing. Both of those options are foolish. The bottom line is we are living beyond our means. What we should do is bring the troops home, and work to reduce the ridiculous amount of entitlements that the government keeps promising, stop sending massive amounts of foreign aid overseas and vastly reduce the size of the federal government. We could save several trillion dollars a year.

In regards to the financial sector, they need to be allowed to fail, to save the dollar. Printing trillions of dollars out of thin air to “save” the financial system will not work, in the end the market always wins. The market is saying that the assets these companies hold are worthless and that many of the companies themselves are nonviable. Everyone losing their retirement is a horrible prospect, but devaluing the dollar in an attempt to save a failing system will be FAR WORSE.

]]> By: Ales http://quetwo.com/2008/09/23/its-just-a-disappointment/#comment-265 Tue, 23 Sep 2008 12:26:18 +0000 http://quetwo.wordpress.com/2008/09/23/its-just-a-disappointment/#comment-265 Have you ever seen Zeitgeist movie? Specially the last part about Federal Reserve System? http://www.zeitgeistmovie.com/

]]> By: Allen Taylor http://quetwo.com/2008/09/23/its-just-a-disappointment/#comment-264 Tue, 23 Sep 2008 04:00:15 +0000 http://quetwo.wordpress.com/2008/09/23/its-just-a-disappointment/#comment-264 Nice writing. You are on my RSS reader now so I can read more from you down the road.

Allen Taylor

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