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Originally Posted by SCUDSBROTHER
With all due respect, take the loss. Put new money into the market another way. We have to have money available to loan? Fine, but we don't have to buy their fk ups. Sorry, but they fkd up, and this idea that capitalism doesn't hurt (those who lose) is wrong. They need to lose, and if new money needs to be put in, it doesn't have to be put in to bail them out of their mistakes. Money needs to be available to loan, yes, but not in the way they have proposed to do it. That is welfare for the rich who fkd up. Take the hit. These market funds that are getting hurt are the same ones this a-s-s hole wanted people to "invest" their Social Security money in. When are people gunna realize just how much an a-s-s this guy has been? In July he was giving a speech about how stable the financial system was. O.K.? In F'n JULY. That is a maggot with a suit.
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I know what you are saying. But...how do you "put new money into the market"? Where does that money go? How would you propose to do it? And the last question isnt facetious(sp?). I want to know how anyone else would fix this.
Regadless of what any one of us wants to admit, our economy is based on credit pure and simple. It rolls when credit is cheap and easy and it gets really slow (like now) when it tightens up.
Something has to be done to fix the locked up credit markets. Injecting massive amounts of cash hasnt worked. Lowering fed funds rates hasnt worked. What else can the govt do at this point?
And remember, the govt isnt spending 700 billion dollars.