Wednesday Open Thread

“We were told our campaign wasn’t sufficiently slick. We regard that as a compliment.”

–Margaret Thatcher

30 Community Comments, Facebook Comments

  1. Barron X says:

    .

    With a little time comes perspective.  

    And some sensible people are saying that it would NOT be the end of the world if those speculators who are holding “toxic” securities lost all their money.  

    .

  2. parsingreality says:

    No sense propping up rotten timbers.

    • Barron X says:

      .

      where have I heard that before ?

      .

      • Danny the Red (hair) says:

        after a 10 year work out.

        That would cost us more.

        that is Paulson’s point.

        Why Paulson’s plan is wrong.

        some institutions should fail, in fact I think the government should force the losses onto the balance sheets and if the banks are poorly capitalized–take them in to some level of recievership and work the banks out.

        The bailout should be focused on Banks and owner/occupants.  Banks because of their systemic importance and owner/occupants to try to stabilize the real estate markets.

        Hedge funds and bond investors should not be able to sell assets to the government, let them take losses and fauil if they must.

        No one should be lining up for the bailout, it should be onerous enough that banks try to fix their own problems, but we need a systmatic solution that will prevent a bank run.  Solution is to protect bank creditors (depositor CD holders, senior bond holders) and let equity holders hang in the wind.  

        • parsingreality says:

          My own bank is Liberty Savings Bank out of Ohio.  I changed to them from a CU that was acting like a BB (Big Bank) and I was their bend over kid.  I picked them because they have an office next to Safeway in Engleweird and lo, in Sarsota. Forty some around the country, family owned.

          Today my mother opened some CD’s with Third Federal, an honest to god relic of real S&L’s.  Again, family owned.

          Point being, neither take big risks, have limited mortgage, checking, and savings programs and are doing very well, thank you.  Sticking to the conservative basics, like In & Out Burger, if you know what I mean.

          Both hold their own mortgages instead of selling them!  Is that radical, or what?

          Good cartoon in today’s rag.  A canoe hanging in tree roots at the edge of some falls.  On the horizontal truck of that tree is Uncle Sam carrying to shore a fat banker with a “Keep the govenment off my back” sticker.

          Perfect.  

    • Fidel's dirt nap says:

      that propping them up by the government only slows down their eventual demise – I saw this with a lot of pathetic Japanese firms when I lived there.  Let them go under now and maybe we will have a healthier market in the future, untainted by government bailouts.

      As to whether or not letting this happen, and letting them go under, will cause a stock market meltdown we haven’t seen since the great depression I don’t pretend to know.

      I say this as someone who could stand to lose a lot if this did happen.

      • DavidThi808 says:

        Is the government is willing to take any company that will be handed over 100% to the feds. In other words, if they think they’re toast, we take them and then if we make a profit, it’s all ours.

        • Fidel's dirt nap says:

          It would make it much more palatable, if the government is going to foot the bill for any bailout, they should be able to participate in their proportional share of profits later in order to pay down the debt incurred.

          Wasn’t this supposedly the grand plan for Iraq a la oil revenues ?  Use the proceeds to pay for the war ? Oh yeah, forgot, we were lied to.

  3. bob ewegen says:

    I just posted it as a dairy, maybe we can coax David to promote it. I’d be very interested in what you and other West Slopers think about their ideas. Oil shale could determine the fate of Colorado, Wyoming and Utah for the next century, especially if we get it wrong. I’m putting their statement on our own blog as well.

  4. Precinct854 says:

    If passed eventually Ref O will have to be revised. Someday Colorado is going to have more than 7 representatives in congress. Be it by congress increasing the number of representatives or through population increase. I don’t find it all inconceivable that we could have as many as Arizona does now (9). If Ref O passes and continues unchanged until that time it would mean that 72% of the gathered signatures will have to be distributed rather than the current 56%.

    I’m still going to vote for it and expect that we’ll fix it when needed, but it is a potential problem.

  5. redstateblues says:

    will speak to the country tonight in a prime time address. That should be rich.

    http://news.yahoo.com/s/ap/200

  6. Sir Robin says:

    Well, I suppose he couldn’t spend $400 on a haircut if he had each hair done separately!

    http://www.usmagazine.com/news

  7. WesternSlopeThought says:

    McCain says he can’t walk and chew gum at the same time.  What BS.  If he can attend Bill Clinton’s shindig then he can spare a couple of hours to lose a debate.  McCain is running scared.  Like he will have ANY effect on the final bill which passes.  Hell, if George Bush can sit and read My Pet Goat while our nation is being attacked, McCain can afford to show his cluelessness in a debate.

    • sxp151 says:

      From Talking Points Memo.

      “Holy shit” was my first thought as well, followed closely by “What the fuck?”

      Reminds me of Perot dropping out in 1992, then jumping back in the race. (Which turned him from the first serious independent contender for the Presidency into a national joke people still haven’t stopped laughing about.)

      So can we start calling him “H. Ross McCain” yet?

  8. DavidThi808 says:

    Ok, so http://www.coloradoballot.net/ has been up for a whole 9 days and in that 9 days has 5,544 unique visitors and 50,592 page views (that’s over 9 pages per person).

    Pretty good traffic for a site that didn’t exist 10 days ago. People definitely are finding it useful.

  9. Yesterday it was PPP and the Q-Poll; today it’s CNN, Rasmussen, and Insider Advantage.

    Insider Advantage is the consistent outlier in favor of Obama, polling this week at +9 (last week it was +10).

    CNN hasn’t polled the state in a month, but they put it at Obama +4 (last month’s pre-Convention poll had it at McCain +1).

    And Rasmussen shows a 5 point move toward Obama, now at +3 (was McCain +2 two weeks ago).

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