Bailout being rejected, thoughts?
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Bailout being rejected, thoughts?
| Mon, 09-29-2008 - 3:35pm |
Hi –
The bailout being rejected is not a good thing, it affects EVERYONE. Banks have no money, we have no money (generally speaking).
I was speaking with a co-worker that said the Democrats insisted the Parachute Clause be put into the plan otherwise they’d vote against it (keeping Exec’s from these millions of dollars) so that is why the Republican’s majority anyhow rejected it. They are so greedy and now they have cut their nose to spite their face.
Thoughts everyone?
SP

How many pounds of peanuts are consumed in the United States each year?
2.4 billion pounds! About 50% is consumed as peanut butter.


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Got it – cool!
This really does not pose as much of an issue if the bailout is approved and the auctions occur.
The rule you quoted states:
"When an active market for a security does not exist, the use of management estimates that incorporate current market participant expectations of future cash flows, and include appropriate risk premiums, is acceptable."
If the bailout occurs, then there will be a market in the form of reverse auctions.
PS Mark to market is not a good rule in times of panic. It lowers sorely needed capital based not on reality but on panic, thereby feeding into the panic. I understand your point about taking the bitter with the sweet here. But the fact remains that, desire for justice in the form of vengeance aside, mark to market rules feed panic in a destructive cycle.
Wow!-- lots going on in your life! Belated Birthday Wishes, SP! Hope you've been doin' lots of celebrating!! I gathered that you were in your 30s from the brief exchanges we've had! One of my close friends has siblings as old as yours, so I'm familiar w/that story! I'm recently divorced after 19 yrs of marriage (together for 23) -- all for the good. I have two incredible kids -- DD is 17 & DS is 14. I have a fairly amicable relationship w/ex, but he is still the same person, and I know better than to expect that he is going to change even though we're no longer married. I came to the realization that I had been really unhappy for several years & had been suffering from chronic illness due to all the stress w/ex. Neither of us left for any one else, but I made the decision that I had to do what is best for me (ex is still bitter towards me over that).
I KWYM about getting anxious about starting a family -- I have several college & HS classmates who didn't start their families until after they were in their 40s & they're all doing great! Sounds like you've had lots of experience being an aunt! My perspective is that 'you only know what you know' -- so your experience is what it is -- at whatever age you are (so it's not different because you are a different age...it's because you are who you are)! Yes, babies change your life -- and as with all things, you take the good with the 'bad,' but the good sooo outweighs the 'not-so-good'! About the issue of traveling -- I believe that the earlier you expose your kids to all experiences, the faster & better they adapt! My kids have been traveling since they were 2 mths old (actually traveling to LA as I have family there)! We lived in Brasil when they were quite young (they were 3 & 5 when we moved there) -- & they are both very independent & responsible travelers now! While I appreciate that there are some serious issues to consider as a prospective 'older' mother, -- on the other hand -- you're only as 'old' as you perceive yourself! My closest girl-friends & I consider ourselves 'ageless' -- I'm 48, but definitely don't feel like I'm approaching 50 & know that most people would guess that I'm a lot younger.
My 'vote' would be to get married in Hawaii -- I would think that would be such a romantic place to have your special ceremony. My dream is to get a house on Big Island -- that'll have to wait until my kids are outta the house, and I can travel more. Actually I have older relatives in Maui -- my great grandfather went there in the 1890s. Italy is great, but Europe is still expensive & I don't know enough about Bora Bora to give an opinion!
Thanks for sharing!
Best Wishes, HB (for 'hunnybunny'!)
http://llhaesa.org/
Full length fiction: worlds undone
"You have no power over my body..." ~ Anne Hutchinson
Thanks, what did the Oracle from Omaha say?
PS I thought Obama was very good on the bailout today. He essentially said this may not be the perfect plan and doing nothing could conceivably not result in a Great Depression, but we can't take that chance and we don't have time to redo the bill. He also said that those who did wrong will be held responsible, but that is for another day.
http://llhaesa.org/
Full length fiction: worlds undone
"You have no power over my body..." ~ Anne Hutchinson
Interesting! If Buffett is buying, you know it's a good deal. That should help restore some confidence in our markets.
Our credit markets are still in crisis. Even McDonalds has cut off funding for many of its franchisees due to the credit crunch.
Hi there!
Thank you – had a great bday and celebrating again Saturday night.
Funny, I joined Facebook a few months ago and had many old HS friends contact me, a few women with similar stories like you, both with two teenage kids and both divorced, married too young but stayed married. One of my friends husband promised she could go to college after her first two kids were in grade school – he never held his end of the bargain so now she’s in school, they are divorced and she see’s them when she wants but felt it was best they stay in the house they grew up in with their dad to stay in the same neighborhood and school.
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