Quotes of the day

posted at 10:40 pm on September 29, 2008 by Allahpundit

“When the government fails to pass a socialism bill and the market goes south, let it go south.”

*
“If it doesn’t get fixed in 2 weeks, by January some communities will be isolated due to no diesel for the road crews. In New York.”


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The other recommendation I have heard is to increase FDIC insured amount to either $250,000 or have no limit. That would stop the money from being taken out of money market funds and put into Treasuries.

huckleberryfriend on September 30, 2008 at 7:42 AM

JiangxiDad on September 30, 2008 at 7:33 AM

Sorry for the ambiguous post. The statements really don’t follow one another. I meant that we survived without mark to market for a long time. In past crises banks that would have become insolvent under mark to market avoided that fate only to thrive after the crisis abated.

The second statement refered to tighter lending and credit standards. These standards strike me as a good idea if implemented gradually after the crisis abates, but I fear that any immediate legislative action to tighten lending and credit standards will only serve to exacerbate the credit crunch.

phronesis on September 30, 2008 at 7:43 AM

European markets look steady….

CapedConservative on September 30, 2008 at 7:46 AM

phronesis on September 30, 2008 at 7:43 AM

I agree with both things you said.

JiangxiDad on September 30, 2008 at 7:49 AM

phronesis on September 30, 2008 at 7:43 AM

Do you believe there is a solution to this problem that would involve some (or more than some) rules changes,infusions of cash directly to targeted banks, and bank consolidations, but minus a taxpayer bailout of the type proposed?

JiangxiDad on September 30, 2008 at 7:56 AM

Ace has an interesting article…

http://ace.mu.nu/archives/274485.php#274485

CC

CapedConservative on September 30, 2008 at 7:57 AM

Frankly, these Wall Street hooligans are the ones who made the mess.

Let them clean it up……..with their own money, not mine!

pilamaye on September 30, 2008 at 7:58 AM

JiangxiDad on September 30, 2008 at 7:56 AM

These measures would help, and there’s absolutely no reason the costless rule changes shouldn’t be implemented regardless of the proposed bailout. But I don’t think they would be sufficient at this point. I think that in order to work those measures would have to be accompanied by the Fed pumping massive amounts of money into the system to inflate asset prices. And I think the failout from this would be worse than the Paulson plan.

Given my dire assessment of the situation, I really hope I am wrong.

phronesis on September 30, 2008 at 8:10 AM

off topic: Has anybody ever seen the likeness of the ”O‘s” strut to John Travolta in Saturday Night Fever….
I laugh every time I see it. Just now again on F&F!!

jerrytbg on September 30, 2008 at 8:11 AM

phronesis on September 30, 2008 at 8:10 AM

fallout that is.

phronesis on September 30, 2008 at 8:16 AM

off topic: Has anybody ever seen the likeness of the ”O‘s” strut to John Travolta in Saturday Night Fever….
I laugh every time I see it. Just now again on F&F!!

jerrytbg on September 30, 2008 at 8:11 AM

we are enthralled with reliving ’70s energy and fiscal policy may as well bring back the affectations as well.

sven10077 on September 30, 2008 at 8:25 AM

sven10077 on September 30, 2008 at 8:25 AM

ding ding ding….We have a winner…you got the point…
Satisfaction in having helped create and exacerbate a crisis…

jerrytbg on September 30, 2008 at 8:32 AM

phronesis on September 30, 2008 at 8:10 AM

Tks.

JiangxiDad on September 30, 2008 at 8:36 AM

“This town’s gonna burn!”

I, for one, am investing in marshmallows.

LimeyGeek on September 30, 2008 at 12:05 PM

Easy for Rush to say. If I had his money, I probably would not be all that worried either.

Terrye on September 30, 2008 at 4:01 PM

Comment pages: 1 2 3