Comments on: Bernanke pushes auto loans away from Fed

By: scootness

scootness — Wed, 10 Dec 2008 15:24:44 +0000

The problem with common sense, is that it isn’t very common! Especially among elected officials! The things that are the easiest to do and will give Americans the most benefit, are the things hardest to get passed! Washington is a big case of the blind leading the blind! All the degrees in the world won’t change that!

By: mayer_ray_nagin

mayer_ray_nagin — Wed, 10 Dec 2008 15:12:44 +0000

Despite Bernanke’s PhD and God only knows what credentials Treasury Chief Paulson has, they get $700B to pay off their banker friends which supposedly will “free up credit” which if used right maybe the Big 3 would not be in the situation they are in, only despite all their academic intelligence Bernanke and Paulson forgot to contractually mandate that the payments be actually used to free up credit and not simply put in the corporate pockets of their buddies. But assuming Borat is right about their intelligence, then maybe this is exactly what they want – to pay their friends off at everyone else’s expense.

In the absence of the bank-bail-out, I’d say the auto companies should be on their own, but as Lau said we are talking 5% of what the banks got, and in return probably 10 times as many people will stay employed. This is ridiculously simple by any standard given the example Congress set in October.

By: HoosierHero

HoosierHero — Wed, 10 Dec 2008 14:57:37 +0000

STFU Bernanke. You have a blank check for the mortgage industry and you are whining about $35b for the auto industry?? I don’t support ANY bailouts, but this seems so piddly compared with the $700b already passed. Just give them the money and then shut the door. If they f*ckup again then let them get taken over by the Chinese. Anyone down for a Chery Corvette?

By: Lau

Lau — Wed, 10 Dec 2008 14:52:37 +0000

So If I have an PhD in economics, I can say whatever I want and you’d agree Borat? That’s a nice thought.

But seriously, the gov’t needs to step up and help the Big 3. Sure their products suck major ass, but they could provide $700b to wall st, why is it SO DAMN HARD to provide what, less then5 percent of that to the B3? I don’t get it.

Oh right. No PhD.

By: A4

A4 — Wed, 10 Dec 2008 01:34:43 +0000

in the long run, credentials are nothing without common sense, rationality, and the ability to have an open mind.

By: mayer_ray_nagin

mayer_ray_nagin — Wed, 10 Dec 2008 00:47:57 +0000

Manhertm, euro-trash loves to quote credentials. In Europe credentials conceal ineffectiveness and people are brought up from birth to respect only the former while ignoring the latter. That’s why Borat loves to quote Bernanke’s degrees while ignoring his utter failure in his role as Fed Chairman. Borat is either euro-trash, or euro-poseur.

By: manhertm

manhertm — Wed, 10 Dec 2008 00:26:02 +0000

^^^^^^If that’s your rationale, this country should be in it’s greatest financial state. We’ve had a president with a MBA from Harvard for the last 8 year along with Mr. Bernanke since ’06. But, I you guess you know how that story ends huh? Idealism is great, but in reality success isn’t usually measured with a piece of paper.

By: Borat

Borat — Wed, 10 Dec 2008 00:23:15 +0000

Everyone entitled to an opinion, regardless of reality or science. Bernanke is a scientist in the field of economics. As it happens, none of the bankers, are. There are some mathematicians and physicists who work as analysts and money manager at banks and hedge funds, but Bernanke always been a scientist and researcher. Of course to understand what it is, one has to know the meaning of “scientist” and “researcher”, but that for Wikipedia to explain.

By: mayer_ray_nagin

mayer_ray_nagin — Wed, 10 Dec 2008 00:11:29 +0000

In other words, Bernanke wants to keep the payola for his banker friends.

By: Borat

Borat — Tue, 09 Dec 2008 23:37:07 +0000

Perhaps when commenting on Bernanke action one should consider that man has PhD in economics (applied math) and was chairman of Economics Department at Princeton. It is hard to believe that he is ignorant (perhaps posters on this little blog feel more intellectually advanced, but society did not appreciate their power of intellect) or has political aspirations or planning to gain anything. He is not from Wall St. crowd and not a political protege. The truth of the matter is that he is respectable scientific mind. Ergo, if he feels that bailout of banks is a good idea and bailout of Detroit troika is a bad idea, I tend to follow his line of reasoning, albeit I am not capable of understanding all intricacies of his decisions.

By: Gregsy

Gregsy — Tue, 09 Dec 2008 23:13:51 +0000

Screw the Fed. They are the reason our economy sucks. They print money and devalue our currency and then buy up bad mortgages that were the fault of Clinton forcing banks to give mortgages to people who probably wouldn’t be able to pay them back.

By: scootness

scootness — Tue, 09 Dec 2008 22:30:21 +0000

I am not for unions, nor democrats, but it is ironic that union people are usually democrats and their are many democrats not for these bridge loans! These democrats got elected by these workers votes and now they are just willing to abandon them. Its just not right!

By: scootness

scootness — Tue, 09 Dec 2008 22:25:33 +0000

Definitely! Those wall st. jobs were worth saving! We are only talking about tens of thousands of jobs here, the risk just isn’t quite worth the reward! Retards! Who appointed/elected these people??? I bet people are really thinking about who they voted for now!

By: yarddog82abn

yarddog82abn — Tue, 09 Dec 2008 22:10:22 +0000

But $700 Billion for Wall st. and the Banks is O.K. right?