Nude_IHB
New member
[quote author="wendyinoc" date=1222334610]I trust this board more then our elective officials. Can it really solve the problem? Were not at the bottom yet.</blockquote>
Wendy, first you have to define the problem that it is trying to solve. If you define the problem as large banks and financial institutions having to write down their balance sheet and face certain bankruptcy, the answer is possibly some will be saved but not all. If you define the problem as a complete seizure of the credit markets that provide short-term funding of many of the mid-size businesses that employ a large portion of America, then this plan *might* help firms with solid fundamentals remain in business but won't help any firms that have shaky credit already. If you define the problem as financal armegeddon, including a complete collapse of the financial system as we know it, then this plan is little more than a shot in the dark because $700 Billion won't even cover FDIC insurance payouts if everything fails in the same week.
No bailout. It's time this country grew up and stopped putting our debt onto our children's backs, no matter how painful that may prove to be in the short term. I have faith that the cleansing process will result in a better outcome than trying to rescue this mess we have now.
Wendy, first you have to define the problem that it is trying to solve. If you define the problem as large banks and financial institutions having to write down their balance sheet and face certain bankruptcy, the answer is possibly some will be saved but not all. If you define the problem as a complete seizure of the credit markets that provide short-term funding of many of the mid-size businesses that employ a large portion of America, then this plan *might* help firms with solid fundamentals remain in business but won't help any firms that have shaky credit already. If you define the problem as financal armegeddon, including a complete collapse of the financial system as we know it, then this plan is little more than a shot in the dark because $700 Billion won't even cover FDIC insurance payouts if everything fails in the same week.
No bailout. It's time this country grew up and stopped putting our debt onto our children's backs, no matter how painful that may prove to be in the short term. I have faith that the cleansing process will result in a better outcome than trying to rescue this mess we have now.
