Bailout Version Two question

[Ray]

OK, they seem to have a deal on the outline of a bailout program. The Paulson plan plus some level of taxpayer equity, restrictions on executive pay, an oversight board, and some requirement for help for foreclosed on homeowners. There are also some provisions for the insurance approach the House Republicans wanted, but it sound like its optional and was included to give them some political cover to vote for it more than because that option will be used much. Sounds like no changes on the "mark to market" stuff that was discussed last week?

So, to all of you financial types who provided so much interesting insight last week, how do these add-ons change the picture from the original plan we were discussing last week? Is it still likely to have the desired effect or will the add ons really change how well it works? I'd like to stay away from a bunch of political sniping on this and just get financial opinions, but if you must snipe, please snipe gently.

-Ray

[keno]

when I see the words, then I might have an opinion (realizing that I might not be one of those financial types you referred to). It was just a few days ago that Christopher Dodd announced a deal in principle, which was quickly vaporized. The devil will be in the details.

Then again, since there never was a first deal, we'll never know anyway.

Unlike Eliza Doolittle, this is the time for words.

keno

[keno]

here 'tis; take a gander.

http://graphics8.nytimes.com/packages/pdf/business/20080928bailout_text.pdf

keno

[Ray]

here 'tis; take a gander.

http://graphics8.nytimes.com/packages/pdf/business/20080928bailout_text.pdf

keno
A gander has been taken. A gander is more than I'm up for with that kind of language. Makes my head hurt. I'll wait to hear other's boil it down in the days ahead. Thanks for the link, though.

-Ray

[Tobias]

I'd like to stay away from a bunch of political sniping on this and just get financial opinions, but if you must snipe, please snipe gently.

-RayFor a smart guy you must think the rest of us are really stupid. In all honesty it’s getting old.

You push the BO agenda at every turn, and word your thread to make the House Republicans appear completely inept and irrelevant rather than the guys who put on the brakes a few days ago, and now you ask those who have a different view to sit quietly on the sidelines while your cohorts circle the wagons…….again?

Ray, with all due respect, don’t you get tired of this? If you have a political opinion state it as such rather than conceal it ( :rolleyes: ) in related text. It's not like we all don't already know you are BO's greatest cheerleader.

By the way, if there is one reason I would never vote for BO is his lack of modesty. I just watched him on TV claiming how he single handedly saved the day. Give me a freaking break. He appears to have little respect for colleagues within his own party and contempt for anything even slightly conservative.

I can’t wait to see him play nice with his own party.

[Ray]

For a smart guy you must think the rest of us are really stupid. In all honesty it’s getting old.

You push the BO agenda at every turn, and word your thread to make the House Republicans appear completely inept and irrelevant rather than the guys who put on the brakes a few days ago, and now you ask those who have a different view to sit quietly on the sidelines while your cohorts circle the wagons…….again?

Ray, with all due respect, don’t you get tired of this? If you have a political opinion state it as such rather than conceal it ( :rolleyes: ) in related text. It's not like we all don't already know you are BO's greatest cheerleader.

Tobias, I just went back and read what I wrote and I don't see where I was being political. I said that the insurance provisions were put in because the house Republicans wanted them. I also said I believe they're optional. There's no judgment or negative connotation there. I think that's what happened. The Democrats and Senate Republicans thought they had a deal without the insurance provisions. The House Republicans didn't sign on. To get their support, the insurance provisions were added. If they're not optional, I stand corrected - that's the way I understood it. But where was the slant there?

I'm obviously a strong Obama supporter. But I never referred to McCain's or Obama's role in this situation because there's plenty of room for sniping on both sides and I'm really not interested in the politics as much as how the thing is likely to work. If you wanna talk about the politics, go ahead. I certainly have political preferences and am happy to express them. But I'm also capable of talking about things independently of the politics and that's what I was trying to do here.

If you want my political opinion, from the accounts I've read of the behind the scenes stuff (and who knows how much you can believe them), neither McCain or Obama came out of this episode looking particularly clean.

-Ray