Comments on: Stocks Post Huge Late-Day Surge

Dow Closes Up More Than 400 Points After Government Says It May Create Repository For Banks' Bad Debt

[marshall_nee]

*There is a good possibility that foreigners that finance the U.S. Budget Debt will take their money out.*

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And it won''t be out of choice like many are speculating.

No it will be because they they have no more to lend us, cos they''ve ran out of money themselves.

[lovegetpeace]

This RTC Entity for all U.S. Bank''s Debts is Complete and Total SOCIALISM.

Now, is there anyone with something nice/good to say about Capitalism?

[lovegetpeace]

The more $$$ the U.S. Government prints, the more worthless the U.S. Dollar becomes. There is a good possibility that foreigners that finance the U.S. Budget Debt will take their money out.

Welcome 4th Great Depression!

[robaldrich]

causeway_u says, ''What a joke . . . .

So much for the republicans bleating of "take personal reposnibility"''
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What? Someone must have removed from your post the data you provided proving that some Republican, or an accumulation of Republicans, was responsible for the bank failures.

[lovegetpeace]

This RTC Entity for all U.S. Bank''s Debts is Complete and Total SOCIALISM.

Now, is there anyone with something nice/good about Capitalism?

[strangeworld]

"Massive tax hikes are the only way to pay for this, and even that may be not enough."

Didn''t you see McCain''s chart on this...he''s going to lower taxes ofor everyone (especially the wealthy) and still pay for everything with money left over to pay down the national debt and fight a couple more wars. More republican voodoo economics.

[brianbwb-2009]

"Nixon pimped out Fort Knox." Posted by stoplying08

Of a truth, Nixon got pimped by the Vietnam war profiteers like Bechtel and Halliburton, among others.

It is estimated that the entire cost of the US'' misadventures in Southeast Asia, from start to finish, cost the US $13 trillion. This money was simply stolen, as is the Iraq budget today, you may remember the $25,000 toilet seats, and $1,500 screwdrivers from back then.

So much money left the US, that the government was forced to print more paper, in order to have currency to circulate in the US, but by depositing it into banks, it soon entered the international money markets where countries like Singapore and France stockpiled enough so that when they wanted to cash it in for the gold it represented, the US didn''t have enough in the treasury.

Nixon was forced to pawn what we did have on the open market, where it''s value rose from $180 per oz., to almost $900 per.

The only reason the dollar did not immediately collapse was that Nixon got OPEC to use the dollar as the currency of payment for oil, a stopgap measure at best, whose gap is now stopping, because the next logical and necessary step to redeem the pawn ticket was and is anathema to neocons.

Nixon was also played, by the same people playing today, people like George Schultz (Bechtel), and Cheney (Halliburton), and the other war profiteers, returning to the neck for more blood to suck.

[mcv57]

Ronald Reagan - Reaganomics was nothing more than Nazis Economics: Build-up the market infrastructure by building-up the military complex. The only difference between Reagan and Hilter is that Hitler siezed and raped the wealth of other country''s to pay for his Germany''s national credit; Reagan just used the U.S. taxpaper .... debt, debt, and more public debt.

[marshall_nee]

Massive tax hikes are the only way to pay for this, and even that may be not enough.

[mcv57]

Posted by singinrich

Some financial analysist claim that Soc. Sec. had always been "pay as you go" scheme - every four workers s.s. tax would pay one s.s. recipient. A Great Depression could put in bankrupcy in a matter of months.

[marshall_nee]

This won''t work, on the surmise alone that trillions of Dollars in T-Bonds will have to be sold to fund this.

Who''s gonna buy them? We''ve exhausted most of the worlds savings already.

[strangeworld]

The more that I think about this, the madder I become. So we''re supposed to force our children, and their children after them, to the yoke to pay off the huge tax burden that will be created by the government bailing out all these financial institutions that are in trouble because republicans deregulated them to allow the rich to get richer? Maybe it''s time that all involved with this, including the politicians who backed it, should be led to the public squares and hung. If we''re going to redistribute more tax dollars to the wealthy, lets just go the whole way and nationalize everything. Maybe the government should seize all wealth in the US and redistribute it so that the gap between the haves and have nots is smaller. It probably wouldn''t save you any tax money, but it would make you feel better knowing that the people who caused this mess were penalized severely for their short-sighted greed and treason to the US.

[hugochavez9]

HEY WHEN WALL STREET MAKES A PROFIT ITS PRIVATE, AND WHEN IT FAILS ITS THE TAXPAYERS PAYING THERE DEBT...

YEAH THAT MAKES SENCE

[mcv57]

Posted by brianbwb

Bascially the Real Estate Industry created this illusion of appreciation, now the world who has financed this illusion are the losers.

[marshall_nee]

Hyperinflation here we come!!!!

[brianbwb-2009]

Posted by stoplying08

To a certain point you are correct, but don''t forget that this money is owed for housing deliberately overpriced through the collusion of real estate firms, insurance firms, land speculators, and bribed politicians, in short the money "owed" is not really lost, only the expectation of reaping unrealistic profit is.

The land still has value, it is the unreasonable profit expectation that was the illusion, and that is all that is truly "lost".

[mcv57]

... if the NATO allies allowed the Bushwacker to get away with murder and torture, well why can''t he rob the world blind too.

[mcv57]

Posted by stoplying08

Its a FRAUD scheme to deceive the world. The entity has charter or organization, it has to resources (except U.S. Federal Reserve paper money with no accounting), and it has no real value. It is a way of the Government to screw the world out of Trillions of dollars - no return on bad debt, sorry.

[brianbwb-2009]

So the taxpayer will be asked to pay for overpriced McMansions, whose prices were driven to artificially high, and economically unsustainable levels through collusion by the lenders?

If we take the houses, we should put the "working homeless" in the ones from affluent neighborhoods, and those who defaulted on their loans for them into the foreclosed units in poor neighborhoods.

That should help level out the real estate pricing disparity, and bring it back to affordable levels.

When the still rich cry unfair, because they don''t want to live near the poor, remind them that it is their fault for supporting "trickle down".

[mcv57]

Posted by Strangeworld

The resolve would place the global financial infrasture into anarchy - no rules, no accounting, just fraud.