Any thoughts? So far all I'm hearing is him explaining stuff that's wrong with the country and saying "let the federal government spend all this money and we'll fix it all!"

To be honest, this does not convince me. I don't think most of this stuff is the federal government's responsibility. I hate it when people think they can legislate us into a utopia.

Yeah, no offense, but there's only one entity that can put money back into the banks, an that's the government. The bailout sucks, no doubt, but if they don't give money to the banks, then the banks don't loan, and we're utterly screwed. You can take issue with the TARP, and you can take issue with the banks, but this is something that absolutely has to be done, or we face definite economic collapse.

But if they give money to the banks, the banks still won't loan.

I wish he'd shut up. I've already missed House, and it's almost time for 24.

Okay now Shepard Smith can just die in a fire.

Obama just ruined House. This is not an acceptable type of change!

Obama really isn't that eloquent when he's off his script.

Yes banks need money, but it's more important to restore consumer confidence in banks by ****ing tearing them to shreds and making them restructure.

It's nice to throw billions of dollars at banks, but the point is that NO ONE is taking out loans, even with the absurdly lower federal funds rate. They know the same old people are running them, and that there won't be a change to risky loan making, especially if the government just ****ing hands them billions of dollars. Not to mention the whole complication is worse because the FFR being so low discourages the lending of that money, just because they can't make a large return off it. So you've got people not wanting to invest still, banks not wanting to loan money due to little or no return and a low IR keeping it that way, and then throw billions at them...

Sidenote: Did anybody see that Obama signed an executive order today that permits federal agencies to REQUIRE union labor? What a way to increase taxes and spent a lot more money than needed! Woo!

No one is taking loans because banks aren't giving them. People with good credit attempt to get loans, and get denied.

Don't get me wrong, I KNOW that I don't know much about economics, or how we got into this mess, or all the options for getting us out. I am aware that I am not the authority on the subject. However, I AM aware that I am his target audience here because I am inherently against the idea.

I'm simply saying that what he was arguing wasn't what I needed to hear to convince me. I felt like he was talking (unintentionally) to people who are most likely already in agreement with the plan. Namely liberals, democrats, etc. I didn't feel like he was touching on any points that addressed any of my own uninformed concerns.

In the end, I was left with exactly the same opinion, no new information that might make me agree, and plenty more motivation (if not informed motivation) to dislike it.

Also, He stu-stu-stutters a lot which got annoying. But that's neither here nor there.

[php]<landfish> WAIT A SECOND
<landfish> NO HOUSE TONIGHT
<landfish> DAMNIT OBAMA
<fishstickz> I KNOW RIGHT
<landfish> THIS ISN'T THE CHANGE I SIGNED UP FOR
<mb> NO HOUSE TONIGHT!?
<mb> ****DAMNIT
<genk> lawl
<genk> WHERES YOUR MESSIAH NOW
<genk> STOPPING YOUR HOUSE
<fishstickz> I offer that hypothesis that House gives more hope and change
<fishstickz> and should be our new president
<mb> but hugh laurie isnt american
* Deadman twitches
<fishstickz> but HOUSE is
<mb> gasp
<mb> i wonder what the constitution has to say about that
<Deadman> it says: "bring money"
<fishstickz> I'm sure 2/3 of the senate and house would ratify an ammendment that would allow fictional characters into the office
<fishstickz> If they knew it was House
<fishstickz> damnit, no new how I met your mother, either
<fishstickz> and that doesn't even overlap[/php]

(hay CM, we can't post things with < and > in them without being in html or php)

There were a few really good questions posed from the press. The best asked what were Obama's metrics and indications that his policies have worked regarding the stimulus bill (once it has passed). Obama wants accountability and transparency, so I think it was terrific to make him set the goals he will be judged by.

Wait what happened why is there no House this week

because of obama

House got lupus.

That stencil is so horrid

To make amends for derailing this thread --

Yes, that's true. And they're being called out on it now.

http://money.cnn.com/2009/02/11/news/companies/congress_banks/index.htm?postversion=2009021110?cnn=yes

See that's the problem, the banks aren't giving loans out now. Guess what, that's what they should have done 15 years ago. Was not give out loans. Especially the risking lending options, but apparently those were "forced" by the government in the first place.. odd

What the **** do you mean no one is giving loans?

I'm having them ****ing THROWN at me. It's ridiculous. I only make like $11,000 a year. I'm a student. They need to quit that ****.

I doubt you would be approved for a mortgage

Just because you get credit card offers in the mail doesn't mean anyone would give you a loan.

Exactly. Dutch government threw away 7 billion Euros just like that. Nothing changed.

I think the fact that bank executive's pay is now tied to stock price gives them an incentive to loan, in order to get stock prices up and they can afford another gold toilet.

The really ****ing silly thing is that I was approved for a mortgage when I first moved here.

I get more loan offers than I do credit cards, I have a huge amount of revolving credit that just sits mostly empty.

I hate loans, I'm still paying off the one I got 6 weeks ago. I've got 20 more weeks to pay it off.

The difference is that I'm not going to get stabbed if I don't pay my loans.

Also, I actually have loans, instead of pretending to have them on the internet.

What kind of bank would give SF_Gold a loan? Hell, what kind of bank would find a high schooler with no credit history, no real job and no real investments good for multiple loans.

Am I missing something here.

Mexico.

No, I'm serious.

I really don't give a flying **** anymore.

The world wants to collapse economically (don't know who's fault, but apparently it's global?), then let it. I'll just die watching the fireworks.

It wasn't a bank, its a loan institution specifically aimed for people without a job. The only requirements is proof of where you live, and age 18. Also, I was reccomended by mother who has been a good client of theirs for around 2 years. So her credit is good.

They also don't loan large quanities of money, just small things to get on your feet.

The name of the institution is Financiera Independencia.