Our financial system is crumbling this week.

[TheoSqua]

Democrats also want any potential proceeds the government reaps from the bailout to go to a fund designed to pay for housing for poor families.

Why not just put the money in a fund like this in the first place and skip the bailouts?

Your common sense is not welcome in the government.

[Leroy]

It is now a game of chicken.

[Hungary Jack]

It is now a game of chicken.

I'm enjoying it. There is some serious anger and distrust at work here. This might be the crowing achievement of the Bush Administration: W's own party gives him the finger.

[BW23]

I've said before I'm not expert on the economy, and I haven't followed this stuff that closely in the last week or so. But how do they think they can solve all this in such an incredibly short amount of time? Has there ever been this much money thrown at a problem this quickly?

[JCShutout]

I've said before I'm not expert on the economy, and I haven't followed this stuff that closely in the last week or so. But how do they think they can solve all this in such an incredibly short amount of time? Has there ever been this much money thrown at a problem this quickly?

++ I feel the same uneasiness.

Democrats also want any potential proceeds the government reaps from the bailout to go to a fund designed to pay for housing for poor families.

Why not just put the money in a fund like this in the first place and skip the bailouts?

This would be pretty awesome.

++

Yeah, I quote people and add nothing to the conversation. Deal with it.

[sighyoung]

[youtube=http://www.youtube.com/watch?v=Eg-ckMup ... re=related][/youtube]

I think the first 27 seconds are pretty apt.

[BenNX74205]

I've said before I'm not expert on the economy, and I haven't followed this stuff that closely in the last week or so. But how do they think they can solve all this in such an incredibly short amount of time? Has there ever been this much money thrown at a problem this quickly?

++ I feel the same uneasiness.

Democrats also want any potential proceeds the government reaps from the bailout to go to a fund designed to pay for housing for poor families.

Why not just put the money in a fund like this in the first place and skip the bailouts?

This would be pretty awesome.

++

Yeah, I quote people and add nothing to the conversation. Deal with it.

+++

[Hungary Jack]

I've said before I'm not expert on the economy, and I haven't followed this stuff that closely in the last week or so. But how do they think they can solve all this in such an incredibly short amount of time? Has there ever been this much money thrown at a problem this quickly?

It could actually resolve itself fairly quickly, perhaps in a few weeks. The plan basically calls for a reverse auction for firms holding toxic securities to sell them to the Treasury. As the bids come in, a market price will be established for the securities. Firms that don't sell them can at least estimate the value of them on their balance sheet, which should enable them to better understand their capital position, raise funds, establish reserves, and start lending again.

[AJ]

Freaking Washington Mutual Failed.....

WOW, this is getting better by the day

[TheoSqua]

wamu next week, i call it

I win at the internets!