There is not enough money in the world to bail out the banks...

[kentuck]

As we speak, China is requesting that the world move to another financial marker instead of the dollar. No doubt they are very concerned about the huge amounts of dollars that are owed them. And rightfully so.

The more money we throw to the banks, the more money down the rathole. They played with fire and they got burned. We all got burned. We can either put the fire out or we can continue to let it burn. The market must be permitted to work in this instance. Government cannot save it.

The sooner we and our President realize that sad fact, the better off we will be. Otherwise, this will go on for years, and perhaps, decades. Let the banks figure out what they want to do. They made the mess. Let them clean it up.

Yes, we will all suffer the consequences. But it's better to take the medicine now than to let the banks slowly choke us to death over the next several years. They will be back for more bailout money. Bet on it.

[indepat]

1. Like with J.P. Morgan having $88 Trillion in derivatives, our JPM shares might decline even further?

And that is Trillion with a capital T :P

[stillcool]

2. I found this fascinating...

I'll probably have to read it 2 or 3 more times to get a good grip on it all..
http://www.dailykos.com/story/2009/3/31/14929/9741?detail=f

[JackRiddler]

3. This is a point that bailout supporters never seem to grasp...

It shouldn't matter, because the criminal class who wrote the rules and organized the financial sector as one vast scam, and who are now extorting trillions with the "too big to fail" threat, shouldn't get a dime - they should get subpoenas and federal agents at their doors.

But it's still the practical reality: IT CAN'T BE BAILED OUT. There aren't enough planets to give the bankers to cover for their wish-bets.

But so far the government has been printing money and issuing debt (that's your future taxes) to cover not just the "market value" (something between 0 and 17 percent) of the "toxic assets," but usually the full value. Of naked credit default swaps!

Naked in this case means, for example: betting that a mortgage bond will fail, supposedly as a hedge strategy, although you don't even own the bond. Just like at the races or in a casino. AIG - the casino - took the bets even though it could never pay if the bonds failed, the bonds failed predictably, and thanks to the bailout the government pays another ten billion dollars to Goldman Sachs. And looky there, the executives were all under the sheets together plotting out this crap in the first place. And they give themselves bonuses. Hey, it's all contractual - the government's duty obviously is to honor the contracts

Using one dollar of my actual money and 999,999,999 of "leverage" borrowed from friendly banks, I would like to bet a trillion dollars - hey, that sounds like a good number! - that the Mets win the Series this year, and hedge it with a trillion dollar credit default swap just in case they lose. If they lose, and AIG owes me a trillion dollars, I'll settle for just 90 percent of that from the government, since AIG is too big to fail. What do you say? I say: Go Phillies!

[L. Coyote]

4. USG is a big business too. As a huge stakeholder in the global economy, with

global and national economics directly impacting revenues and interest costs, don't expect USG to sit on the sidelines.

[StreetKnowledge]

5. Not Good News

"As we speak, China is requesting that the world move to another financial marker instead of the dollar."

If that happens, the value of the US dollar will drop like a rock, and EVERY American will lose, big time. That's bad.

[ConcernedCanuk]

6. Umm - the "bailout" plan isn't for the Banks - it's for the BANKSTERS!!

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Just another part of the great BFEE/PNAC gang rape of the taxpayers.

Rich get richer, the poor get poorer.

Same old, same old . .

(sigh)