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Bailout? Er, No Thanks ...
Posted by: McQ on Sunday, October 05, 2008

In a purely ironic way, this is just funny, and, perhaps, "much ado about nothing":
Fears are mounting that many Wall Street banks and financial firms will refuse to participate in the US government's $700bn bail-out package, leaving global markets and world economies in a perilous state for months to come.

'There is a growing feeling that banks ... might instead decide to tough it out,' said Thomas Caldwell, chairman and CEO of Caldwell Financial, a $1bn-plus fund manager.


'I think this hodge-podge of regulations and rules will be enough to put many [chief executives] off participating,' Caldwell said.

Sources close to Goldman Sachs and Merrill Lynch indicated the banks might choose not to participate in the bail-out as there is a growing view on Wall Street that the market may be bottoming out.

Analysts also believe that the mere presence of the government as buyer of last resort will be enough to get credit markets moving again, and that a large number of banks would not need to take part for the legislation to succeed.
And, of course, it can also be argued that had government just stayed out of it, those credit markets would have begun moving again all by themselves, can't it?

Oh, but don't worry - the government will find some way to spend that 700 billion. Just hide and watch.
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Previous Comments to this Post 

Unless your a worthless German. Europe has been leveraging themselves 10 times as bad as the US (see AIG). Time to cut these euro-loser loose. Time for the old country to stand on its own two feet and quit using the teet (USA) to bail its a$$ out of jeopardy. Especially Germany these morons have been living the high life off of the USA’s goodwill. Maybe some of those highly educated crap people who received top notch educations here in America should head home and bail out their BS pathetic country (feel free to stay once you get there). Maybe go beg the soviets to reestablish communism. See how that works a second time! Not a dime to bail out Europe (Let em crash and burn) one bank at a time.
Written By: Coaster
URL: http://
barry can use it to pay for his health care plan or maybe he’ll play robinhood and put on some tights and start giving it to the poor.
Written By: mac
URL: http://
Is it wrong, that I flashed to this image for the Obama/Biden ticket?

Written By: jpm100
URL: http://
’There is a growing feeling that banks ... might instead decide to tough it out,’ said Thomas Caldwell, chairman and CEO of Caldwell Financial, a $1bn-plus fund manager.
Read it as a regulation union standover:

Tom Celdwall, general president of International Brotherhood of Banksters, today signaled a growing dissatisfaction amoung unionized Wall Street CEOs. Whilst noting that times were tough he was quick to point out the vital nature of his workers played in the economy. Onerous regulations imposed by Washington were stripping long-standing benefits of Bankster members. He expressed hopes that Washington would defer enforcement of the regulations, but in case Congress proved intransigent did predict that Banksters might have to go slow on implementing government projects including the critical $700,000,000,000.00 bail out of bad debt.

Independent talking heads see this as a good starting position for negotiations of the next Financial CEO pay round and expect that compensation to cover the lost benefits will be included. When asked to comment senior Bankster officials told us off the record that an average increase of $10 million base pay would be acceptable.

Written By: unaha-closp
"Read it as a regulation union standover:...."

Very nice.
Written By: timactual
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