That Old Black Magic ...


	That Old Black Magic ...

gmentgen

9-28-2008 8:41 AM

189 views

tags:

bailout

gmentgen says:

Just more of the same'o, same'o nonsense that we've come to expect from "our government"

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/9505e388-204e-48a7-87e8-062b3681ca1e/6A89B1FC-E50D-4A9A-871B-28279227D44C/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://money.cnn.com/2008/09/25/news/economy/sloan_crash.fortune/index.htm?postversion=2008092610" href="http://money.cnn.com/2008/09/25/news/economy/sloan_crash.fortune/index.htm?postversion=2008092610" style="font-size: 11px;">money.cnn.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://money.cnn.com/2008/09/25/news/economy/sloan_crash.fortune/index.htm?postversion=2008092610"><H1>Beltway medicine men</H1></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://money.cnn.com/2008/09/25/news/economy/sloan_crash.fortune/index.htm?postversion=2008092610"><H2>Don't be surprised if the cure conjured up by Washington fails to solve the market's woes.</H2></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://money.cnn.com/2008/09/25/news/economy/sloan_crash.fortune/index.htm?postversion=2008092610">The proposed bailout of the world's financial system isn't really about money, 
folks. It's about psychology. In fact, you can think of it as the most expensive 
piece of psychotherapy in the history of the world. </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://money.cnn.com/2008/09/25/news/economy/sloan_crash.fortune/index.htm?postversion=2008092610">The idea is that having Uncle Sam buy tons of trashy, hard-to-value financial 
assets will change the psychology of lending institutions throughout the world. 
This financial Prozac, as it were, would cure the lenders of their fear and 
depression, encourage them to start lending again, and induce investors to pump 
new capital into these capital-short institutions.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://money.cnn.com/2008/09/25/news/economy/sloan_crash.fortune/index.htm?postversion=2008092610">That's why I wouldn't bet the farm on this bailout working as planned.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://money.cnn.com/2008/09/25/news/economy/sloan_crash.fortune/index.htm?postversion=2008092610">And let's not forget that there's a long-term psychological cost to this fix: It 
has enraged ordinary taxpayers-and rightly so.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://money.cnn.com/2008/09/25/news/economy/sloan_crash.fortune/index.htm?postversion=2008092610">That loss, in fact, may be the bailout's biggest cost of all.&nbsp;</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/6A89B1FC-E50D-4A9A-871B-28279227D44C/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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