oh, dudes... (a quick financial posting)
Sep. 20th, 2008 04:31 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
lagilmanNo. Just... no. Yeah, we need a fiscal disaster plan, and yeah it has to be big. But can we at least THINK about who we're giving this "unfettered authority" to? No, no, dudes.... "Hi, I'm a pedophile. Want to hire me as a nanny?"
EtA: the more I read this proposal, the more I think that YOU PEOPLE IN DC ARE INSANE. Or, quite possibly, the biggest most arrogant crooks and liars since politics and finance were invented.
Sec. 8. Review.
Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.
http://calculatedrisk.blogspot.com/2008/09/bailout-proposal.html
Also, when a statement like this jumps out at you, you have to pause and reflect: "Republicans most supportive of the administration were in favor of approving the plan as swiftly as possible and with relatively few changes." Because the administration has shown it has SO much understanding of what's good and bad for the General Populace.... (although I quite like the implication that some Democrats want to seriously rein in how much compensation CEO/CFOs of companies that partake can retain. You run a company into the ground with bad decisions, you should NOT get to walk with multi-millions of bye-bye money. I'm just sayin'. Stand your ground for once, Dems!)
Oh, and because the term's getting tossed around a lot lately:
LIQUIDITY: A corporation is liquid if it has ready access to cash. A market is liquid if participants can easily convert positions into cash. An asset is liquid if it can easily be converted to cash. (www.riskglossary.com)
Meanwhile, a friend of mine is trying to draw a connection between the LHC and the timing of the world's financial meltdown. It's starting to make sense to me....
ETA: and![[livejournal.com profile]](https://www.dreamwidth.org/img/external/lj-userinfo.gif)
eeknight links to and reposts a pretty good and mostly politics-neutral breakdown of the situation.
EtA: the more I read this proposal, the more I think that YOU PEOPLE IN DC ARE INSANE. Or, quite possibly, the biggest most arrogant crooks and liars since politics and finance were invented.
Sec. 8. Review.
Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.
http://calculatedrisk.blogspot.com/2008/09/bailout-proposal.html
Also, when a statement like this jumps out at you, you have to pause and reflect: "Republicans most supportive of the administration were in favor of approving the plan as swiftly as possible and with relatively few changes." Because the administration has shown it has SO much understanding of what's good and bad for the General Populace.... (although I quite like the implication that some Democrats want to seriously rein in how much compensation CEO/CFOs of companies that partake can retain. You run a company into the ground with bad decisions, you should NOT get to walk with multi-millions of bye-bye money. I'm just sayin'. Stand your ground for once, Dems!)
Oh, and because the term's getting tossed around a lot lately:
LIQUIDITY: A corporation is liquid if it has ready access to cash. A market is liquid if participants can easily convert positions into cash. An asset is liquid if it can easily be converted to cash. (www.riskglossary.com)
Meanwhile, a friend of mine is trying to draw a connection between the LHC and the timing of the world's financial meltdown. It's starting to make sense to me....
ETA: and
eeknight links to and reposts a pretty good and mostly politics-neutral breakdown of the situation.
