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Re: [Pen-l] "Has Barack Obama's presidency already failed?"
- To: Progressive Economics <pen-l@xxxxxxxxxxxxxxxxxx>
- Subject: Re: [Pen-l] "Has Barack Obama's presidency already failed?"
- From: Jim Devine <jdevine03@xxxxxxxxx>
- Date: Fri, 13 Feb 2009 08:28:08 -0800
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Michael Smith wrote:
> You simply let the banks go bankrupt. Then the government
> steps in and buys 'em for pennies on the dollar -- if that;
> some of these outfits are probably worth less than zero.
> Call it a "rescue". Then once Sam owns 'em, he starts
> lending money like crazy.
aren't back stocks pretty cheap as it is? Bank of America was once at
43.60 (its high point during the last 52 weeks), while today it's
5.74. Of course, if the US government were to start buying it up, the
price would soar: they might have to freeze the price. (source:
http://quote.morningstar.com/Quote/Quote.aspx?ticker=BAC)
--
Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own
way and let people talk.) -- Karl, paraphrasing Dante.
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- Thread context:
- [Pen-l] "Has Barack Obamaâs presidency already failed?", (continued)
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