Comments on: Things I Like About Barack Obama, Part One

By: Mark

Mark — Tue, 15 Jul 2008 00:27:15 +0000

Actually, in this case, it’s fear of all the little guys that will get hurt that is motivating talk of a bailout…

By: Tag

Tag — Mon, 14 Jul 2008 21:00:29 +0000

I guess the capitolists who chant “let the free market work” only mean it when it is a lowly voter about to go under. It’s save the Corporations while stepping on the necks of the little guy.

By: too many steves

too many steves — Fri, 11 Jul 2008 19:16:31 +0000

If risky behavior no longer has consequences then it ceases to be risky and the constraint against it is gone. BUT, peter is right that the consequences of letting them fail would fall well beyond the shareholders. A tough call fo’ sho’. I honestly don’t care about the shareholders loss of value they should have thought about that when they decided to invest a company taking such high risk – we shouldn’t prop these institutions up to protect the shareholder investment, but the likely & huge negative impact on the economy, including unrelated third parties such as the rest of us, requires that something be done.

By: mikebdot

mikebdot — Fri, 11 Jul 2008 18:40:03 +0000

peter: I know it. Was being deliberately obtuse. What a tough business they are in. Betting on a losing horse is never fun.

By: peter

peter — Fri, 11 Jul 2008 18:19:19 +0000

The shareholders have suffered plenty. Fannie Mae was a $60 stock not too long ago, and now it was under $7 a few hours ago. If the GSO’s get bailed out, it’s because of the role they play in securitizing mortgages. Without their ability to buy mortgages in bulk, the mortgage market will come to a screeching halt. This isn’t about the shareholders — it’s about keeping the economy working.

Also, if there is a government bail-out, the shareholders could get completely wiped out.

By: mikebdot

mikebdot — Fri, 11 Jul 2008 17:46:55 +0000

saw = say

By: mikebdot

mikebdot — Fri, 11 Jul 2008 17:46:20 +0000

http://www.nytimes.com/reuters/business/business-fanniemae-freddiemac.html

$5 TRILLION dollars??? That’s almost half of the nation’s GDP. Yikes.

To bail them out or not? That is the question. I saw screw that noise. Let the shareholders suffer. It’s a free market! D’oh.

By: Mark

Mark — Fri, 11 Jul 2008 01:09:03 +0000

Yes, because Jackson has been critical of Obama and had to backpedal on very similar remarks before, and as we've seen with George W. Bush, politicians are frequently careless around open mics...

By: peter

peter — Thu, 10 Jul 2008 17:39:48 +0000

I thought Jackson’s remarks were nuts.

By: too many steves

too many steves — Thu, 10 Jul 2008 13:57:15 +0000

This is all a well-orchestrated plan to create sympathy and broad support for Obama. You don’t really buy the “I thought the microphone was off” excuse, do you?