What if the bailout plan doesn't work?

What if the bailout plan doesn't work?

news.yahoo.com

Failure, says one insider, is not an option.

“The alternative is complete financial Armageddon and a great depression,” said a former Federal Reserve official. “Where do they go after this? Well, the U.S. government could nationalize the banking system outright.”

A few months ago, that idea would have been laughed out of the room.

But no one’s laughing anymore.

(visit the link for the full news article)

So lets get this straight. After this is all said and done, the government will spend close to 2 trillion buying up JUNK - TOXIC assets, that no one wanted to buy in the first place because they are worthless, and THIS is the only plan that will save us from financial Armageddon??!?!?!

Folks, if it hasn't sunk in yet, the US is in for one hell of a ride. Starting taking care fo your family and spread the word to people who are not aware of the gravity of this.



news.yahoo.com
(visit the link for the full news article)

Of course its not going to work...

How else will they justify taking total, supreme control of all sources of finance and creating a unified Federal Bank of America.

I believe that in due time, many here will come to see that this 'bailout' was NOT intended to 'work.'

It is intended to indemnify and empower corporate control in America. The criminal regime in charge has shown its true colors, and they are not red, white, and blue.

I hold that because of their willingness to accept the offices of public service, and their utterance of the oaths of office, the nature of their crime has transcended from racketeering and war-profiteering to treason and sedition. These 'officials' are enemies of the state.

Until such time as any of them conduct themselves in accordance with the law, their authority and influence should be nullified. The people demand redress.

What *I* fail to understand in the whole mess is simply this:

How is it, the best option is one lacking oversight?

Isn't this why we're in this mess to begin with? We've collevtively decided as a nation that, the best fix to a credit squeeze/financial dryup/valueless securities due to a lack of regulation and oversight is to procure stability through legislation lacking exactly the same.

One of the biggest problems TRULY facing us, IMHO, is that we have an EXTREMELY complacent population with respect to their own financial well-being and fortitude that would otherwise allow them to mitigate economic "bumps in the road". Our older generations had a grasp on this to a more unwaivering degree than this generation does. We have allowed ourselves to be SUCH a well entertained society, SUCH an uneducated society, SUCH an uncaring (uncaring to the degree that we believe that our Big Brother will always do precisely what's right for us) society, that I dare say we've brought this upon ourselves. For all intents and purposes, we were proactive in our demise; had we only needed to be REactive I'm fairly certain we may have weathered this storm with some grace.

The bailout will certainly work, unfortunately for all the wrong people. The little guy will absolutely take it on the chin on this one. The big guys who created/were active in/proponents of the now failed economical model have mostly disappeared yes, but not before "cashing out". The one's who remain will still be sitting high in their respective perches and watch us, the little guy, throw bad money after good to them, all in an effort to ensure THEIR financial well-beings. Why would we do this? Because they are so empowered with the Government, the media, and within our own minds simply due to our lack of knowledge on the banking and financial world that we will be left with no choice but to BELIEVE that they absolutely have our best interest in heart and to let THEM fail, would mean to let EVERYTHING fail.

At some point, though, we must truly ask ourselves DOES the cost outweigh the benefit? My personal opinion on this matter is that the cost FAR outweighs the benefit of the bailout. I find it incomprehensible that the newly created Federally Funded and oversight arm of this new "Financial Face" would fight SO hard on obtaining the lowest possible prices for these illiquid assets to get them for $.50 on the dollar or less THEN, imagining that they DID, to find a buyer for them at ANY time in the near future who would find them desirable, I mean, lets face it, they WERE bad for a good reason. Within that, if they DID push too hard to garner such low initial cost, the originators may find it absurd to actually relinquish those assets. Were that the case, then the bailout money that's available to actually buy them is just as worthless and we don't move from our current position any more than if the bailout package hadn't been approved at all.

Perhaps the only answer is, like in legos when your master creation goes awry, just break em all down and hope for the best on the next one.


AB1

Originally posted by 44soulslayer
Of course its not going to work...

How else will they justify taking total, supreme control of all sources of finance and creating a unified Federal Bank of America.

It also justifies the North American Union.

This is what many financial web-sites are saying! This bail-out will only allow the Banksters and the PTB to make arrangements to secure their own financial status. It's a stall tactic as well as a transfer of wealth from the vast middle class to the elite.

An insane ride on the deflation/inflation cylce is the end-game regardless. Why should we bailout them out if we are going to crash anyway?

[edit on 23/9/2008 by kosmicjack]