61–70 of 77 posts
Earlier quoted context omitted.
On the Daily Show, Jon Stewart reported that the main difference was an additional $150 billion in tax breaks.
I would venture that a country whose most credible news source is a comedy show has some substantial problems with their meida.
From his appearance on CNN's crossfire: http://www.youtube.com/watch?v=vmj6JADOZ-8
Earlier quoted context omitted.
The quants are going to go to town on this one. This bill gives the SEC authority to suspend the practice of marking to market. Bad idea. That makes this bill just a big money giveaway in practice. Transfer of wealth basically. Further, the FDIC is already running low on funds, we should be slow to make new promises when we are already uncertain with regard to meeting present obligations. Additionally, raising the li…
The SEC already had the authority to suspend mark-to-market accounting. This bill just re-affirms it. Furthermore, mark-to-market is an accounting technique.It may result in fraud but there is no "transfer of wealth" about it. Furthermore, if history is any indication, corporations can always cook their book if they really want to. The FDIC is indeed running low on funds and raising the limit at this point in time is…
Right. So why bother with accounting standards at all? They're just going to break the rules anyway....
Earlier quoted context omitted.
The SEC already had the authority to suspend mark-to-market accounting. This bill just re-affirms it. Furthermore, mark-to-market is an accounting technique.It may result in fraud but there is no "transfer of wealth" about it. Furthermore, if history is any indication, corporations can always cook their book if they really want to. The FDIC is indeed running low on funds and raising the limit at this point in time is…
"if history is any indication, corporations can always cook their book if they really want to" Right. So why bother with accounting standards at all? They're just going to break the rules anyway....
This is a real low point for HN (comment wise), the subject matter is interesting but I would have expected some interesting comments.
Well, like you wouldn't want to read Paul Krugman's or Tyler Cowen's opinions on programming languages, most people here don't have much that's truly insightful to say about economics and finance, with the exception, perhaps, of economics as related to software. I guess there are a few people who work or have worked as quants and know more than a thing or two about finance, but how much insight does that give you int…
So well said !
Earlier quoted context omitted.
This plan is a disaster that will be remembered as one of the worst error in History ever. The US shot its last bullet, and it aimed at its feets. Buckle up, folks, cause the future is even more incertain now for the world.
I dunno, It will be hard to top Smoot-Hawley.
Earlier quoted context omitted.
On the Daily Show, Jon Stewart reported that the main difference was an additional $150 billion in tax breaks.
I would venture that a country whose most credible news source is a comedy show has some substantial problems with their meida.
This is a real low point for HN (comment wise), the subject matter is interesting but I would have expected some interesting comments.
Well, like you wouldn't want to read Paul Krugman's or Tyler Cowen's opinions on programming languages, most people here don't have much that's truly insightful to say about economics and finance, with the exception, perhaps, of economics as related to software. I guess there are a few people who work or have worked as quants and know more than a thing or two about finance, but how much insight does that give you int…
This is a real low point for HN (comment wise), the subject matter is interesting but I would have expected some interesting comments.
I'm not sure how I feel about it. I don't like to see discussions deteriorate like this. But on the other hand, I feel like participating in the discussion may be a good way of gaining an understanding ultimately bringing the level back up.
My $0.02 The Good: A non trivial part of the market freeze was due to the uncertainty about the bailout. Will it pass and if so at exactly what price will the Feds buy the toxic junk. Rather then sell, people were waiting. Perhaps now things can start moving again. So this may be better then doing nothing. The Bad: The may be worse then doing nothing. We may spend a whole lot of money and not make a profit on it. Ste…
I thought this bill was the worst idea ever, until I heard Warren Buffett speak up for it two days ago. Buffett has both integrity and economic skills, and he probably understands this proposal better than any of us. For instance, http://ph.news.yahoo.com/rtrs/20080924/tbs-buffett-bailout-7... The US government has a pretty poor track record for "emergency proposals" and other decisions these last 8 years, so I under…
Note that I'm not asking whether he knows how to make money - clearly he does: witness putting $5.000.000.000 into Goldman Sachs and then lobbying like hell for the bailout of ....... ..... (guess who?)