Comments on: Although the Bailout Bill Was Rejected, It’s No Time to Panic

By: Rick R. Pelley

Rick R. Pelley — Thu, 02 Oct 2008 13:43:13 +0000

To Valued Customer:

Your comment reply to Ed yesterday was very well said.

Rightly, the party must end, but not by way of “reward” money for “extortion”. The larger chamber of Congress should reveal an outcome today.

By the way, is not the Secretary Treasurer, Henry (Hank) M. Paulson, a former Goldman Sachs chief bankster? Ever heard the old adage: “Birds of a feather, flock together”?

Best wishes.

By: Valued Customer

Valued Customer — Wed, 01 Oct 2008 01:24:00 +0000

Ed, I hate to say this, but before you can clean up the mess, you have to end the party. It’s too bad you aren’t preparing your clients for that, because that’s what’s happening now.

I only hope Congress continues to be incapable of selling us out for the forseeable future, because that is the only thing that can weed out the overleveraged, the fraudulent, and the incompetent from this extortionate market.

Ed, you can take heart tho, shovels are easy to master, and a long, hard day using one provides a deeply satisfying nights rest!

I can only hope that the combination of Putin not seizing the Georgian oil pipeline, and Congress’ incompetence at defrauding the American people have sufficiently weakened the banksters that they will be joining the unskilled labor force within the month – at least the ones that avoid prison.

By: Dan Sampey

Dan Sampey — Wed, 01 Oct 2008 00:55:42 +0000

Instead of trying to reward failure, why doesn’t Congress reward the good banks with the needed funds to keep the economy rolling. Of course with regulation and accountability so there is not a repeat. Let those in Congress and Wall Street pay for their mistakes. The financial institutions that made the CEO’s rich, have them sue the CEO’s for all their worth to get the money back. I am sure there are several billion dollars in assets that can be recouped. Since the blind can see that this bailout will not work, let the markets, that they SO believe in, take care of them. The government has gone too long rewarding stupidity and crapping on the the good ones.

By: joe ross

joe ross — Tue, 30 Sep 2008 19:16:06 +0000

What are your thoughts on THE FIX?

By: Bail-out failure no reason to panick

Bail-out failure no reason to panick — Tue, 30 Sep 2008 18:41:31 +0000

[...] Although the Bailout Bill Was Rejected, It’s No Time to Panic By Martin Hutchinson Contributing Editor Money Morning [...]

By: Ed

Ed — Tue, 30 Sep 2008 16:27:25 +0000

I have mixed opinions on this. On the one hand i want our government to stay out of the economy but on the other hand they caused this mess and should have to fix it. Yesterday the market dropped in value over 1 trillion dollars. As an investment advisor that directly affects the people i serve. I have retired people now more concerned than ever as this affects their money directly. The $700 billion dollar infusion doesn’t afect them directly now and while i do not pretend to undestand how it will pan out i do know that my retired clients cannot take the market going down to 7500 or 5000 as Martin envisions is necessary to correct this. If the markets did this then we would have another problem…an abundance of poor retired people and a bunch of disenchanted people with a lot at stake in their 401k or pension. So certainty overrides uncertanty for me and i think a bail out is the lesser of two evils. I liken it to having a house party and inviting all the neighborhood children. After awhile we notice juice being spilled on the rugs and furniture. That is not the time to debate which children made the mess and how do we hold them accountable. Clean up the mess first (the party was your idea) and then deal with regulating it.

By: Rick R. Pelley

Rick R. Pelley — Tue, 30 Sep 2008 13:02:14 +0000

So the larger of the two Chambers rejected the bailout fiasco. However, prevailing “good sense” now, is too little, too late.

A complement measure of good sense must now come from weighty sectors abroad in order to “validate” what has occurred at home. Such will not happen, sufficiently.

This is because, over time, the greatest of all good sense, “trust” has been fatally breached. Not just at home, but everywhere else, too.

By: Mary Diane Dolan

Mary Diane Dolan — Tue, 30 Sep 2008 13:00:58 +0000

According to the picture painted for us, the desperate, desperate former investment banks, at the edge of oblivion, cry out piteously for even a drop of “liquididty.” –And Paulson repeatedly expresses uncertainty that they’ll AGREE TO PARTICIPATE in a process of getting it to them!!!??? Can someone please explain? (I certainly do agree with Mr. Hutchison’s article; Paulson’s dealmaking attempts are more preciselly described as “hustling”).

By: Money, Stock and Finance » Blog Archive » Although the Bailout Bill Was Rejected , it’S No Time To Panic

Tue, 30 Sep 2008 01:45:06 +0000

[...] By Martin Hutchinson Contributing Editor Money Morning Unless you’re the chairman of the George W. Bush Presidential Library hoping for one last truly memorable economic achievement… Money Morning is here to help investors profit …[Continue Reading] [...]