What is Digg?8 Comments
- TreatsTheBear, on 10/06/2008, -0/+4I can't believe you're allowed to make a contract to promise to pay $1,000,000,000 if X happens and not need to actually have $1,000,000,000 or even a plausible way to come up with it.
As for the 'better' bailout, I thought the stock injection plan sounded pretty good. Hopefully they find the spine to actually do it. - thespiff, on 10/07/2008, -0/+4This is the first thing I've heard/read that actually gave a decent explanation of why we need a bailout. With a lot of very interesting interviews. In layman's terms. This really needs to get frontpaged.
- Spor, on 10/06/2008, -0/+3Digg really needs to listen to this, and pay attention. A lot of poeple don't seem to understand the bailout isn't just saving banks and wealthy investors. There is an nytimes article that touches on how it isn't possible to just let the greedy bankers fall without hurting every single person in America, the This American Life episode goes into more depth on why this is.
nytimes article I mentioned:
http://www.nytimes.com/2008/10/01/opinion/01friedm ... - ka9dgx, on 10/07/2008, -0/+2This is what happens when you fail to have adult supervision of the markets (aka Regulation). Congress had a chance to do this right by doing nothing... and instead they chose to write a law saying "These people are too smart to fail"... ugh.
Immediate legislation to require registration of all derivatives, and the nullification of those that aren't registered (to them be regulated) should be law... NOW. - evilangela, on 10/06/2008, -0/+2Listening now. This really helps understand what's happening. And it's scary.
I'm definitely supporting a bailout now, though I wish we had a better one. I know that regulating Credit Default Swaps is highly important now. - ka9dgx, on 10/07/2008, -0/+1You're focused on the wrong thing... this problem makes $700,000,000,000 look irrelevant once you grasp the scope of it. You really owe it to yourself to actually listen to the whole thing.
I really don't want to get taxed to death... but the end of civilization is worse... and that's what this basically boils down to if it doesn't get resolved soon.
The past 20 years have seen a repeal of the Enlightenment... and the dark ages were named that for good reason. I don't want to go back to a world of superstition and Witch Hunts.
This problem is one of lots of little things that crash-caded into the disaster we have before us. As near as I can tell there's no big conspiracy, just a cluster-*****.
If nobody can trust anyone, it all falls back to hoarding... and we can't survive if everything stops. Going back to the farm is not an option for most of us. - brycesch, on 10/08/2008, -0/+1What about the the second bailout proposal? It would actually make for a safer investment for the tax payer. Oh no, it seems like socialism! If it is a safer bet for the tax payer and accomplishes the same tasks why the hell not use it? I wanna see Obama or McCain talk about this.
- Moonkeeper, on 10/06/2008, -6/+1Understand the 700 billion dollar bailout in less then 10 seconds:
1. You are taxed
2. The tax money collected is given to bankers
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