Warren Buffett praises bailout efforts

You quotes are old news and as of now inaccurate news. Also, do you really believe the Heritage Foundation would ever say anything that might support anything Obama has done?

You statement that the bailout has not saved one job. That is shown to be completely inaccurate.
Harvard's Jeffrey Miron Explains Why the Stimulus Package Failed http://www.openmarket.org/2010/10/3...ron-explains-why-the-stimulus-package-failed/[/QUOTE]

Likewise Miron is known for his conservative/libertarian bias. So again, would he ever say anything positive about any government program? I don't think so.

David Camp is a Republican congressman. He would never say anything good about Obama or any Democrat. No creditability in his article.

Also his article is now old news, superseded with newly published information.

Do you criticize Bush for the initial bailout. I don't. He and the actions he and his administration took saved a total meltdown of the economy and that will help save his legacy.

Find some up-to-date non-baised information. Certainly Bloomberg is not a far right nor a far left organization.

 

New Republicans hate!

None of my quotes are from political sources.

Your statement makes it sound as if you want failure for the US. I do not and I will give credit to success regardless of political parties. Why do you want the government and thus the US to fail?

You comment on Socialism .... I do not believe you really have a real knowledge of what Socialism is about. Also I do not believe you understand Capitalism much better. This is said very gently.

Also, if the bailout was such a failure how do you and T explain the following news?

 

I am willing to give credit to any person or political party that follows policies that saves the market. Apparently you are not willing to do so. The market was in a meltdown mode. The bailout, which I was not at all sure about at the time, saved it from melting down. Are you so inflexible that you cannot change you mind? Our children would have had a far worse future if the market had not been saved.

Now politicians need to cooperate together, forget worrying about who gets credit, and do what is right for the American people. Pay off the debt and stop spending excessive amounts of money. Actually the Republicans should work hard with the Democrats. Why? The Democrats seems totally incapable of making their successes known to the American people. The Republicans are much better in that regard and in blowing smoke and obscuring Democrats success. They, the Republicans, if they think about it have nothing to fear if Obama succeeds. Why? For the reason stated. The Democrats are incapable to taking credit of success. It is a very strange myopia.

 

I've never said we are out of the woods. We are not. The world is to interdependent and there are big problems in various parts of the world that may yet cause the US great harm. I am not sure what the Irish bailout will mean to the US. The Euro is going to take a big hit. Some say this will be the death of the Euro. Time will tell.

I do agree with your sentiment that the huge bonuses should not be allowed. I'm not in charge. If I had the power you can bet your bippy they would stop.

I do know that if nothing had been done in 2008 we would be in a huge depression. Did the Bush and Obama follow the optimum policy? I don't know. I do not believe anyone knows.

It was excesses in the financial industry, especially the dangerous trading of derivatives that played a large part in causing the economic problem. Of course the housing bubble also plays a huge part ... and we now know that was also largely because of the sloppy work and lack of internal oversight in banks. Profits were more important than safety or the economy.

That being said, what do you feel was the proper response to the impending economic meltdown in 2008?

 

The sell slowly and cautiously. Investing 101.

 

In your opinion what would the fallout of the bank failures have been?

Would the fallout have been anything like the fallout from the 1929 bank failures?

 

There is no way to know the answer to your question. When I buy stock there is no way to know how long or how short I should hold it. But I watch it and the market and sell at the signal to sell.

In the market, do not try to hit tops and bottoms, but get a nice slice out of the middle of the trend ... or in another way, bulls can make money, bears can make money but hogs will lose every time.

Yes, I keep a close watch on both what paper profits and what paper losses I have. I set a point and if the stock, or profit, back off I sell at the profit point I have set.

The same with a paper loss. I set a loss point and sell if it hits that price.

As I said in another post, cut your losses short and let your profits run. Keep rising the profit sell point as the price climbs.

Because without it we would be in much worse shape now. As I said, when the bailout took place I was not at all sure it was the way to go. I now see it was much better, IMHO, than doing nothing and letting the banks go under.