Wall Street Has Bossed Washington, DC Around Like They're Hired Flunkies

I think the federal government should not pay full price for the junk quality of the securities that wall street is trying to unload. Basically wall street wants the poor and down trodden tax payers to swallow there garbage so they can swindle more money from the government/taxpayer and take home the millions that don't belong to them.

I would like to see that we pay less than $0.02 on the dollar, and charge the rest of it on the CEO that was swindling hundreds of millions from the company they were supposed to work for.

The $700 billion rescue package should be only worth $14 billion to us taxpayers. when all this is over then we can sell these mortgages at a profit, and the profit should go directly into social security. that way SSA will not go broke for a long time as predicted by the administration and the tax payer may reap some benefit out it for their generosity by bailing out these swindlers.

We have no choice but to do the deal. With some manuevering we can get the money back and more. Did you read the Wall Street Journal opinion piece link. I hope he is right.

"You can slice the numbers a lot of different ways. My calculations, which assume 50% impairment on subprime loans, suggest it is possible, all in, for this portfolio to generate between $1 trillion and $2.2 trillion -- the greatest trade ever. Every hedge-fund manager will be jealous. Mr. Buffett is buying a small piece of the trade via his Goldman Sachs investment.

Over 10 years this could change the budget scenario in D.C., which can also strengthen the dollar. The next president gets a heck of a windfall. In the spirit of Secretary of State William Seward's purchase of Alaska for $7 million in 1867, this week may be remembered as Paulson's Folly."

I don't think a total meltdown is in most people's best interest, although some hedge fund managers would jump for joy.

All of the above. The entire world will greatly suffer if the US economy falls.

I highly doubt the rest of the world would be worse off with a US bailout. China is heavily invested in the US. They own much of the fannie mae and freddie mac paper.

September 7, 2008 · The government takeover of Fannie Mae and Freddie Mac is making waves far off American shores. China is watching the events closely because some 10 percent of China's gross domestic product is invested with the troubled mortgage giants. NPR's Adam Davidson talks with host Jacki Lyden about China's stake in the U.S. mortgage industry.

http://www.npr.org/templates/story/story.php?storyId=94369826

I am not surprised the newspapers say that. Other countries are free to pull their money out whenever they want. Millions of people from around the world still want to immigrate to the US, so sentiment swings both ways.

I wouldn't blame the financial fiasco on the US alone as there are plenty of unethical people from around the world that helped crash the US market, and who profit daily off of the suffering of others. There are also millions of very fine people who live in the US, as there are living in the rest of the world. We didn't start the fire.