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Yess, finally.
I've spoken with economists regarding this, and they agree that without bailouts, we'd be in such a deep depression...basically, bailouts are very necessary if you want a job when you graduate.
Everyone is crooked - it's a fact of life. I've never met someone in a professional field that doesn't have a little bit of self interest in mind.
Where I was going with the original statement was more along the lines of me finding it rediculous when everyone touts the prez's economic advisors as idiots and their own ideas as the "right way". No one knows for sure what the implications will be, and we won't know for years, but some of the smartest financial minds in the nation are working on it. But anyone who has taken a couple of economics classes in college thinks that those courses suddenly make them an expert.
And if you find these people clueless, I'd hate to have to work for you because you've got some unrealistic standards.
• Warren Buffett (chairman and CEO of Berkshire Hathaway)
• Roel Campos (former Securities and Exchange commissioner)
• William Daley (Midwest chairman for JPMorgan Chase; secretary of the U.S. Department of Commerce from 1997 to 2000)
• William Donaldson (chairman of the U.S. Securities and Exchange Commission from 2003 to 2005)
• Roger Ferguson (president and CEO of TIAA-CREF; former vice chairman of the Federal Reserve board of governors)
• Anne Mulcahy (chairman and CEO of Xerox)
• Richard Parsons (chairman of Time Warner)
• Penny Pritzker (CEO of Classic Residence by Hyatt)
• Robert Reich (professor at University of California at Berkeley; secretary of the U.S. Department of Labor from 1993 to 1997)
• Robert Rubin (chairman and director of the Citigroup executive committee; secretary of the U.S. Treasury Department from 1995 to 1999)
• Eric Schmidt (chairman and CEO of Google)
• Lawrence Summers (professor at Harvard University; managing director of DE Shaw; secretary of the U.S. Treasury from 1999 to 2001)
• Laura Tyson (professor at Haas School of Business of University of California at Berkeley; chairman of the National Economic Council from 1995 to 1996; chairman of the President's Council of Economic Advisers from 1993 to 1995)
• Paul Volcker (chairman of the Federal Reserve from 1979 to 1987)
i think we needed a bailout
i dont think we needed it to be 700$ billion dollars
Do you know how much pork there is in that bill? The congressmen didnt even have the chance to read it all before they signed it. If you are gonna do it, do it right.
too all these people saying obama needs to keep his hands off business you're retarded.
if it was the company's own money i would totally agree, but its not their money he's doing stuff with, its the tax payer's money that they're using to bail the companies out. and that is his job. to use the tax payer's money the way he sees best fit.
well, believe it or not, there is a lot more that goes on behind the scenes than the work of his immediate cabinet members. The people that I "pulled out of my ass" are all people that he has named as his economic advisors, i.e. the people he will consult with when faced with tough economic decisions. I would bet that they've declined official cabinet positions primarily because of the shape that everything is in. In case you haven't noticed, the treasury isn't exactly a glamourous fucking place to work right now.
I won't argue that we need responsible regulation. This certainly isn't the first time that a newly created derivative has been at the center of corporate collapse. Every time someone comes up with a new product, it gets abused until it ultimately fails. Then the regulation comes along. Unfortunately, this collapse has come from a few companies that are so intertwined in all aspects of our economy that they've impacted everyone as opposed to just a few hundred thousand people.
I haven't hear of that book, but it sounds interesting. I don't know if I completely buy in to the whole smarter people are just as prone to blunders ideology and I can't imagine you would believe all of that either. If you do, let me know the next time you need surgery. I'll do it for half of the price of your lowest quote. I'd be willing to bet that you won't trust the scalpel to anyone with something less than an MD. The same applies for this situation. I've never touted these people as perfect, but they're a hell of a lot more qualified to formulate policy than 99% of NS.
OBAMA is starting to look alot like HITLER did in the eraly stages of NAZI germany.
time to GTFO of america people. shit is a sinking ship, and I don't wanta be on it.
OBAMA needs to keep his ass outa private business. he may not be HITLER, but he is indeed a NAZI.
FUCK OBAMA.
