We need to abolish losses
Markets are down today on fears of lower corporate earnings. <Sarcasm class="thick">Clearly the Fed needs to intervene. The goal should be to inject billions into every public company. We need real capital infusions, even outright ownership and control. Only that will end losses, and leave us with the profit-only system once called socialism. Just look how profitable all socialists countries have been, and without these horrible cyclical changes!</sarcasm>
Comments (8)
doug
I cannot believe you wrote that! Someone might read that and introduce it as a bill. Then again, I doubt they read this blog.
Published: October 22, 2008 2:57 PM
Arend
Ben Bernanke the great scholar will save us!
Published: October 22, 2008 3:59 PM
Walt D.
Why doesn't Congress pass a law to prohibit the sale of a house for less than its previous sale price, indexed using an annual increase of 5%? The mortgage meltdown would go away. Bank's toxic assets would be revalued to par. The symmetry of the universe would be restored. Wall Street could pay 7-figure bonuses. We could all just carry on as if nothing had happened, and wait for FED policy to create the next asset bubble!
Published: October 22, 2008 4:00 PM
jeff
Someday, the W3C is going to define behavior for the sarcasm tag, breaking millions of blog posts.
Published: October 22, 2008 4:25 PM
Rubén Rivero
I turn off my broadcast TV so that I don't have to hear Hugo Chávez speaking his nonsense about welcoming Europe and the U.S. into the 21st century socialist marvel.
Then I log in this website. And I hear exactly the same thing ?????
Again ????
I am not kidding. This sarcasm is a carbon copy of what I must hear on TV every night.
Published: October 22, 2008 4:48 PM
J Cortez
In addition to abolishing all financial losses, there needs to be a law abolishing all bad weather, famine, disease and death.
Why didn't we think of this before?!
Published: October 22, 2008 5:37 PM
Bill
Well fortunately we have Obama and McCain who are going to turn the economy around. I mean the hundreds of millions of actors are just waiting for McObama to say the word. I mean look at the Syn-Fuels program/Alternative Fuels Program. It could not go forward without McObama to bless it with capital that the evil bankers and investors fail to fund.
Published: October 22, 2008 9:48 PM
rigo
Bueno, yo esperaría a ver hasta dónde está el pueblo americano dispuesto a financiar el costo de esta operación. Imagino que llegarán a un punto en el que no tolerarán más intervención y puede que ahí se detengan. Y hasta echen atrás.
Esto no es un deja-vú. Algo es diferente. Se llama internet y puede cambiar la dirección de los eventos de maneras insospechadas.
Saludos.
Published: October 23, 2008 1:06 AM