The end is near...

So I'm reading 100 pages of mind numbing dribble creatively known as the "Troubled Asset Recovery Program"; aka, "TARP". Ain't that sweet? Like I posted earlier, its purpose is designed to be similar to that of the RTC we worked with back in the day.

On page 6, Title 1, Sec.101,(a)(1), you can read exactly what TARP is engineered, or proposed to, do. I have a copy of the bill for you at: www.BillionDollarBailout.com/TARP

I say keep the Federal Government away from troubled assets and let market forces in the private sector manage the assets. There always has and always be, capital in the market. Putting these assets in the hands of greedy and inept bureaucrats will only cripple and place a boa's stranglehold on moving product to market. Either way, the assets need to be liquidated - I just prefer they do it in the swift manner privatizing it can accomplish.

Which is what I intend to continue doing.

www.BillionDollarBailout.com

Edited: 06/26/2010 at 06:01AM

Christian Malesic

Real Estate Investor · Harrisburg, Pennsylvania

Moderator

717 posts
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Oct 02 '08, 10:20 PM

Then end may be near, but of what?

America?

The End of Days?

of our current government?

Careers of incumbent politicians?

Not the end of the crisis, for sure.

Edited: 06/26/2010 at 06:03AM

Joshua Dorkin

BiggerPockets Founder · Denver, Colorado

Donor Pro

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Oct 02 '08, 11:08 PM

Bailout vote is now in effect . . . lets see what happens

Edited: 06/26/2010 at 06:03AM

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Chris Sengenberger

Real Estate Investor · Chicago, Illinois

22 posts
1 award
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Oct 02 '08, 11:39 PM

It passed. I love how politicians always praise themselves for "coming together in a non partisan way" as if theyre doing a great thing. All that really happens is the country gets broker. Sometimes i think we'd be better off if lawmakers simply took a year off.

Edited: 06/26/2010 at 06:03AM

Rey Francis

13 posts
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Oct 02 '08, 11:52 PM

I guess its going to mean more taxes and higher inflation for all of us.

Edited: 06/26/2010 at 06:03AM

Louie Frias

Commercial Real Estate Broker · Las Vegas, Nevada

32 posts
50 influence

Oct 02 '08, 11:57 PM

Well...hold on tight everyone...it's gong to get pretty rocky. Just do what you can to stay positive and try not to spit on any politicians during your daily routine.

I've enclosed a copy of the latest bill..[/img]

Edited: 06/26/2010 at 06:03AM

Joshua Dorkin

BiggerPockets Founder · Denver, Colorado

Donor Pro

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Oct 03 '08, 12:09 AM

Where's the copy, Louie?

Now that it passed . . . anyone have any predictions?

CA needs a $7 billion loan . . . anyone, anyone . . . Bueller?

Edited: 06/26/2010 at 06:03AM

Louie Frias

Commercial Real Estate Broker · Las Vegas, Nevada

32 posts
50 influence

Oct 03 '08, 12:24 AM

Joshua, that is funny...Uh, apparently I don't know how to post an image...but here's a link to it...all 450 pages...www.BillionDollarBailout.com

All the way at the botom where it belongs.

Edited: 06/26/2010 at 06:03AM

Account Closed

805 posts
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Oct 03 '08, 12:30 AM

I won't spit on them, but I won't vote for any of the ones who voted yes on that bill. So, with the exception of my representative in the house it is Libertarian all the way down the ballot!

No vote for McBama or Ocain.

Edited: 06/26/2010 at 06:03AM by Account Closed

Louie Frias

Commercial Real Estate Broker · Las Vegas, Nevada

32 posts
50 influence

Oct 03 '08, 12:49 AM

You can also learn how each representative voted on that page as well. www.BillionDollarBailout.com

Again,at the bottom.

Edited: 06/26/2010 at 06:03AM

Jordan S.

Real Estate Investor · new york, NY

125 posts
1 award
50 influence

Oct 04 '08, 09:51 AM

Originally posted by ChrisS

Sometimes i think we'd be better off if lawmakers simply took a year off.

what are you talking about?? they had the last 8 yrs off they just now reconvened because its an election yr...

Edited: 06/26/2010 at 06:04AM