Yess!!!!!!!!

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  • markmarc
    markmarc Posts: 2,309
    edited September 2008
    The one truth is that the financial market is based on one thing, confidence. Right now their isn't any, PERIOD. What I am worried about is that the world banking system is so entwined that the domino effect takes place.

    I know of two guys that have closed their businesses due to the lack of credit available. In one case, that put 9 engineers plus support staff out of work. I'm convinced that unemployment will hit 12% if something isn't done.

    If I'm GWB, I'd suspend the "Mark to Market" accounting rule tomorrow morning. That alone will at least calm things down.
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  • SKsolutions
    SKsolutions Posts: 1,820
    edited September 2008
    Another step would be to reenact Glass-Steagall Act, and repeal Gramm-Leach-Bliley.
    It was a significant piece of lobbying by the banks that repealed GSA. Repealing it meant spectacular profits, but also all but ensured a bust given the climate. J.P.Morgan was one of the strongest lobbyists, and when they couldn't get everything they wanted out of Volcker, their very own Alan Greenspan got the head job at the Fed. Fun times.
    -Ignorance is strength -
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  • obieone
    obieone Posts: 5,077
    edited September 2008
    I'm not union, don't have a pension, or a 401k. Sorry to say it, but, I don't care about those that do. If that seems selfish, then blame Hollywood, cuz I'm just following their LEAD!!!
    I refuse to argue with idiots, because people can't tell the DIFFERENCE!
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  • wz2p7j
    wz2p7j Posts: 840
    edited September 2008
    Doesn't matter if you are union, have a 401k or whatever my friend. If the company you work for needs credit to operate and can't get it, and the business goes under, you're on the street. Chris
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  • obieone
    obieone Posts: 5,077
    edited October 2008
    brettw22 wrote: »
    It's a bit odd that the President put it out there to get done, and the Repubs are the one's holding it up......

    It's funny how you failed to mention the fact that 95 Dems, and 17 of Barney Franks OWN committee members voted AGAINST this bill?:eek::confused:
    I refuse to argue with idiots, because people can't tell the DIFFERENCE!
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  • brettw22
    brettw22 Posts: 7,624
    edited October 2008
    maybe my intent was to slander any way possible the 'other side' and i wanted to skew everyone's opinions.........:rolleyes::rolleyes:
    comment comment comment comment. bitchy.
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  • Danny Tse
    Danny Tse Posts: 5,206
    edited October 2008
    Lotsa pork on the new version
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