Where did the $700 billion dollar figure come from

[iplaw]

This should make anyone who thought these people (Congress, Paulson, etc) were capable of solving this crisis take note.

When asked about how the $700 billion dollar figure was arrived at, King Paulson stated:

quote:"It's not based on any particular data point," a Treasury spokeswoman told Forbes.com Tuesday. "We just wanted to choose a really large number."

When they can't even formulate the issue properly, how can we expect them provide us with a meaningful answer?

Why are we asking for such an absurdly large number when a much smaller number may work?

I think the American people have seen the overreaction, hyperbole and doomsdaying around this issue and they smell a rat...

Edit - The quote was from a spokeswoman, not King Paulson.

[FOTD]

quote:Originally posted by iplaw

This should make anyone who thought these people (Congress, Paulson, etc) were capable of solving this crisis take note.

When asked about how the $700 billion dollar figure was arrived at, King Paulson stated:

quote:"It's not based on any particular data point," a Treasury spokeswoman told Forbes.com Tuesday. "We just wanted to choose a really large number."

When they can't even formulate the issue properly, how can we expect them provide us with a meaningful answer?

Why are we asking for such an absurdly large number when a much smaller number may work?

I think the American people have seen the overreaction, hyperbole and doomsdaying around this issue and they smell a rat...

No! You're the rat for saying that politics comes before the safety of the system.

You'll see Ipsqueak. This needed to pass. You clearly do not comprehend the economy.

Happy New Year......happy new world? not.

[iplaw]

The fact that you support this bill assures me that it's defeat was the right decision.  The American people, and the politicians they voted into office are much smarter than you FauxTurd, thank God.

[Hoss]

quote:Originally posted by iplaw

The fact that you support this bill assures me that it's defeat was the right decision.  The American people, and the politicians they voted into office are much smarter than you FauxTurd, thank God.

As much as I hate this bill, don't come screaming when your credit cards are cancelled because of this.  Because unless something is done, we may be headed back to bread lines.  All of us.

[FOTD]

quote:Originally posted by iplaw

The fact that you support this bill assures me that it's defeat was the right decision.  The American people, and the politicians they voted into office are much smarter than you FauxTurd, thank God.

You know nothing about the banking system.....
The devil sees the details, weighs the positives and negatives, and makes a decision based on what's best for middle class America.

Well, their IRA accounts have dropped %20+ this year. More to come. You are a chump for defending economic collapse and chaos.

[iplaw]

quote:Originally posted by Hoss

quote:Originally posted by iplaw

The fact that you support this bill assures me that it's defeat was the right decision.  The American people, and the politicians they voted into office are much smarter than you FauxTurd, thank God.

As much as I hate this bill, don't come screaming when your credit cards are cancelled because of this.  Because unless something is done, we may be headed back to bread lines.  All of us.

Yes, yes, the sky is falling.

[xx(]

BTW, I don't own credit cards, haven't for years.  Credit card debt sucks.

The best thing that could ever happen to this country is if credit card companies disappeared.

A generation or two ago, it was shameful to buy things on credit, now it's shameful not to have everything your little heart desires, funded by credit cards and lines of credit.

Our preocupation with, and unabashed love of debt is a large part of why we are where we are.

[iplaw]

quote:Originally posted by FOTD

quote:Originally posted by iplaw

The fact that you support this bill assures me that it's defeat was the right decision.  The American people, and the politicians they voted into office are much smarter than you FauxTurd, thank God.

You know nothing about the banking system.....
The devil sees the details, weighs the positives and negatives, and makes a decision based on what's best for middle class America.

Well, their IRA accounts have dropped %20+ this year. More to come. You are a chump for defending economic collapse and chaos.

I appreciate the lecture on economics coming from the least intelligent member of this community.

The more you protest, the more the defeat of that bill gets sweeter and sweeter.

[Hoss]

quote:Originally posted by iplaw

quote:Originally posted by Hoss

quote:Originally posted by iplaw

The fact that you support this bill assures me that it's defeat was the right decision.  The American people, and the politicians they voted into office are much smarter than you FauxTurd, thank God.

As much as I hate this bill, don't come screaming when your credit cards are cancelled because of this.  Because unless something is done, we may be headed back to bread lines.  All of us.

Yes, yes, the sky is falling.

[xx(]

BTW, I don't own credit cards, haven't for years.  Credit card debt sucks.

The best thing that could ever happen to this country is if credit card companies disappeared.

A generation or two ago, it was shameful to buy things on credit, now it's shameful not to have everything your little heart desires, funded by credit cards and lines of credit.

Our preocupation with, and unabashed love of debt is a large part of why we are where we are.

Hey, I'm not trying to be a fearmonger, I'm stating simply how I see it.

I do have a CC, with very little on it (for a reason).

How about when more banks start failing left and right without intervention?  Do we all go back to stuffing mattresses with cash?

[FOTD]

quote:Originally posted by iplaw

quote:Originally posted by Hoss

quote:Originally posted by iplaw

The fact that you support this bill assures me that it's defeat was the right decision.  The American people, and the politicians they voted into office are much smarter than you FauxTurd, thank God.

As much as I hate this bill, don't come screaming when your credit cards are cancelled because of this.  Because unless something is done, we may be headed back to bread lines.  All of us.

Yes, yes, the sky is falling.

[xx(]

BTW, I don't own credit cards, haven't for years.  Credit card debt sucks.

The best thing that could ever happen to this country is if credit card companies disappeared.

A generation or two ago, it was shameful to buy things on credit, now it's shameful not to have everything your little heart desires, funded by credit cards and lines of credit.

Our preocupation with, and unabashed love of debt is a large part of why we are where we are.

Oh, you're one of those chumps in check out lines making time expensive by writing checks?


NICE TO SEE YOU IN MICHAEL MOORE'S CAMP!
http://www.michaelmoore.com/words/message/index.php?id=235

[Hoss]

quote:Originally posted by FOTD

quote:Originally posted by iplaw

quote:Originally posted by Hoss

quote:Originally posted by iplaw

The fact that you support this bill assures me that it's defeat was the right decision.  The American people, and the politicians they voted into office are much smarter than you FauxTurd, thank God.

As much as I hate this bill, don't come screaming when your credit cards are cancelled because of this.  Because unless something is done, we may be headed back to bread lines.  All of us.

Yes, yes, the sky is falling.

[xx(]

BTW, I don't own credit cards, haven't for years.  Credit card debt sucks.

The best thing that could ever happen to this country is if credit card companies disappeared.

A generation or two ago, it was shameful to buy things on credit, now it's shameful not to have everything your little heart desires, funded by credit cards and lines of credit.

Our preocupation with, and unabashed love of debt is a large part of why we are where we are.

Oh, you're one of those chumps in check out lines making time expensive by writing checks?


NICE TO SEE YOU IN MICHAEL MOORE'S CAMP!
http://www.michaelmoore.com/words/message/index.php?id=235

Not me...[]

[iplaw]

Banks aren't going to default, period.  The stock market may be in for a shock until a compromise is crafted, but on the up side, oil is going to drop like a rock.  So, suck it, Saudi Arabia.

Let the market go down and then eliminate capital gains tax to flood the market with investor dollars.

Eliminate the mark-to-market rule immediately and go to a 30 or 60-day rolling average.  Have FHA insure the mortgages for around 40 billion rather than buying the debt for $700 billion.

What I don't get is Pelosi et al., who blame the current crisis on Bush Co., want to put Bush Co., CFO Paulson in charge of all of this.  Either these guys are incompetent boobs or they aren't.

[iplaw]

quote:Originally posted by FOTD

quote:Originally posted by iplaw

quote:Originally posted by Hoss

quote:Originally posted by iplaw

The fact that you support this bill assures me that it's defeat was the right decision.  The American people, and the politicians they voted into office are much smarter than you FauxTurd, thank God.

As much as I hate this bill, don't come screaming when your credit cards are cancelled because of this.  Because unless something is done, we may be headed back to bread lines.  All of us.

Yes, yes, the sky is falling.

[xx(]

BTW, I don't own credit cards, haven't for years.  Credit card debt sucks.

The best thing that could ever happen to this country is if credit card companies disappeared.

A generation or two ago, it was shameful to buy things on credit, now it's shameful not to have everything your little heart desires, funded by credit cards and lines of credit.

Our preocupation with, and unabashed love of debt is a large part of why we are where we are.

Oh, you're one of those chumps in check out lines making time expensive by writing checks?


NICE TO SEE YOU IN MICHAEL MOORE'S CAMP!
http://www.michaelmoore.com/words/message/index.php?id=235

It's called cash or debit card Turd.

[Conan71]

quote:Originally posted by FOTD

quote:Originally posted by iplaw

This should make anyone who thought these people (Congress, Paulson, etc) were capable of solving this crisis take note.

When asked about how the $700 billion dollar figure was arrived at, King Paulson stated:

quote:"It's not based on any particular data point," a Treasury spokeswoman told Forbes.com Tuesday. "We just wanted to choose a really large number."

When they can't even formulate the issue properly, how can we expect them provide us with a meaningful answer?

Why are we asking for such an absurdly large number when a much smaller number may work?

I think the American people have seen the overreaction, hyperbole and doomsdaying around this issue and they smell a rat...

No! You're the rat for saying that politics comes before the safety of the system.

You'll see Ipsqueak. This needed to pass. You clearly do not comprehend the economy.

Happy New Year......happy new world? not.

What do YOU understand about the economy and it's players?

Do you really think it makes sense for the Treasury Suckretary to write a blank check to his Wall St. cronies?  Remember, Hank is a Bush sockpuppet who amassed a $500mm fortune as a Wall St. conquistador.

Something tells me sand mites are living in fear of risky investments.

Any time a politician or bureaucrat can pull a number out quickly, it should tell you politics, not common sense is behind it.

Sort of like Biden saying Georgia needed $1 bln in aid a month or so back.

[FOTD]

quote:Originally posted by Conan71

quote:Originally posted by FOTD

quote:Originally posted by iplaw

This should make anyone who thought these people (Congress, Paulson, etc) were capable of solving this crisis take note.

When asked about how the $700 billion dollar figure was arrived at, King Paulson stated:

quote:"It's not based on any particular data point," a Treasury spokeswoman told Forbes.com Tuesday. "We just wanted to choose a really large number."

When they can't even formulate the issue properly, how can we expect them provide us with a meaningful answer?

Why are we asking for such an absurdly large number when a much smaller number may work?

I think the American people have seen the overreaction, hyperbole and doomsdaying around this issue and they smell a rat...

No! You're the rat for saying that politics comes before the safety of the system.

You'll see Ipsqueak. This needed to pass. You clearly do not comprehend the economy.

Happy New Year......happy new world? not.

What do YOU understand about the economy and it's players?

Do you really think it makes sense for the Treasury Suckretary to write a blank check to his Wall St. cronies?  Remember, Hank is a Bush sockpuppet who amassed a $500mm fortune as a Wall St. conquistador.

Something tells me sand mites are living in fear of risky investments.

Any time a politician or bureaucrat can pull a number out quickly, it should tell you politics, not common sense is behind it.

Sort of like Biden saying Georgia needed $1 bln in aid a month or so back.

WOW....Conan is lining up with Michael Moore too. What a difference a day of (short)change makes.....

[iplaw]

How is he lining up with Michael Moore?  I didn't realize there was a buffet open somewhere.

And I think the idiom you were looking for was "what a difference a day makes"