Comments on: Solution to Financial Bail out. http://blog.rhatters.org/2008/09/30/solution-to-financial-bail-out/ Personal Blog for BrianPowell covering Red Hat, Fedora and various other Linux and OSS related topics Thu, 06 Aug 2009 12:51:59 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Tyrell S http://blog.rhatters.org/2008/09/30/solution-to-financial-bail-out/comment-page-1/#comment-41 Tyrell S Sat, 14 Feb 2009 05:33:08 +0000 http://blog.rhatters.org/?p=47#comment-41 It seems that everyday a new American industry is asking from US government a bailout because of impending financial exigency. After the failure of California-based IndyMac Bank, many people have wondered how safe their accounts really are. The government created the $750 billion TARP program to bailout troubled financial institutions in order to stave off a possible depression. This is like how getting a payday loan in order to hold you over until your next payday can also stave off a possible depression. A string of catastrophic bank failures would just make things worse, but it seems hard to justify giving the banks funds after they use those funds to give out corporate bonuses and buy corporate jets. You don't see people doing this with a <a href="http://personalmoneystore.com/moneyblog/2009/02/09/banks-bailout-money-payday-loan/" rel="nofollow">payday loan</a> now, do you? It seems that everyday a new American industry is asking from US government a bailout because of impending financial exigency. After the failure of California-based IndyMac Bank, many people have wondered how safe their accounts really are. The government created the $750 billion TARP program to bailout troubled financial institutions in order to stave off a possible depression. This is like how getting a payday loan in order to hold you over until your next payday can also stave off a possible depression. A string of catastrophic bank failures would just make things worse, but it seems hard to justify giving the banks funds after they use those funds to give out corporate bonuses and buy corporate jets. You don’t see people doing this with a payday loan now, do you?

]]> By: Havoc http://blog.rhatters.org/2008/09/30/solution-to-financial-bail-out/comment-page-1/#comment-27 Havoc Wed, 01 Oct 2008 03:48:30 +0000 http://blog.rhatters.org/?p=47#comment-27 Also keep in mind, AIG's 85 billion was a loan costing them around 12% interest ongoing, plus 80% of their stock value immediately. That's pretty far from free money - taxpayers are getting paid quite a bit in fact. Also keep in mind, AIG’s 85 billion was a loan costing them around 12% interest ongoing, plus 80% of their stock value immediately. That’s pretty far from free money – taxpayers are getting paid quite a bit in fact.

]]> By: Brian http://blog.rhatters.org/2008/09/30/solution-to-financial-bail-out/comment-page-1/#comment-26 Brian Wed, 01 Oct 2008 00:31:50 +0000 http://blog.rhatters.org/?p=47#comment-26 It's great to find intelligent people! As many have pointed out in the comments the math is incorrect. The whole purpose of this post was to see during our "economic crisis" how many folks actually take the time to determine if the math was correct or not. Almost everyone in my company, except 2 of us, whom this was sent to was more worried about how they were going to spend the $425,000 as stated instead of realizing it was only $425. I mean it was sent by the guy who does our books, so the math had to be right? Needless to say he got a good laugh out of it as did I which is why I posted it. The Fedora Community passed with flying colors!!!! It’s great to find intelligent people! As many have pointed out in the comments the math is incorrect. The whole purpose of this post was to see during our “economic crisis” how many folks actually take the time to determine if the math was correct or not.

Almost everyone in my company, except 2 of us, whom this was sent to was more worried about how they were going to spend the $425,000 as stated instead of realizing it was only $425. I mean it was sent by the guy who does our books, so the math had to be right?

Needless to say he got a good laugh out of it as did I which is why I posted it.

The Fedora Community passed with flying colors!!!!

]]> By: Yevgen Muntyan http://blog.rhatters.org/2008/09/30/solution-to-financial-bail-out/comment-page-1/#comment-25 Yevgen Muntyan Wed, 01 Oct 2008 00:18:22 +0000 http://blog.rhatters.org/?p=47#comment-25 That's some arithmetic! That’s some arithmetic!

]]> By: Nathan http://blog.rhatters.org/2008/09/30/solution-to-financial-bail-out/comment-page-1/#comment-24 Nathan Wed, 01 Oct 2008 00:06:58 +0000 http://blog.rhatters.org/?p=47#comment-24 I only see one problem: $85 billion divided by 200 million is only $425 per person. I only see one problem: $85 billion divided by 200 million is only $425 per person.

]]> By: Pio http://blog.rhatters.org/2008/09/30/solution-to-financial-bail-out/comment-page-1/#comment-23 Pio Tue, 30 Sep 2008 23:24:00 +0000 http://blog.rhatters.org/?p=47#comment-23 85,000,000,000 / 200,000,000 = $425 Fail. 85,000,000,000 / 200,000,000 = $425

Fail.

]]> By: Matt Domsch http://blog.rhatters.org/2008/09/30/solution-to-financial-bail-out/comment-page-1/#comment-22 Matt Domsch Tue, 30 Sep 2008 22:52:20 +0000 http://blog.rhatters.org/?p=47#comment-22 your math is off by a factor of 1000. Unless you're giving away 85 trillion dollars, the AIG bailout is $425 / person in your current math. your math is off by a factor of 1000. Unless you’re giving away 85 trillion dollars, the AIG bailout is $425 / person in your current math.

]]> By: Anon http://blog.rhatters.org/2008/09/30/solution-to-financial-bail-out/comment-page-1/#comment-21 Anon Tue, 30 Sep 2008 22:47:42 +0000 http://blog.rhatters.org/?p=47#comment-21 Your math is off by a few orders of magnitude... 85000000000/200000000 425 That's 425 dollars per 18+ citizen. Your math is off by a few orders of magnitude…

85000000000/200000000
425

That’s 425 dollars per 18+ citizen.

]]> By: AndyB http://blog.rhatters.org/2008/09/30/solution-to-financial-bail-out/comment-page-1/#comment-20 AndyB Tue, 30 Sep 2008 22:41:32 +0000 http://blog.rhatters.org/?p=47#comment-20 Err ... doesn't 85 bilion divided by 200 million equal $425 each rather than 425 grand? Err … doesn’t 85 bilion divided by 200 million equal $425 each rather than 425 grand?

]]> By: Nalin Dahyabhai http://blog.rhatters.org/2008/09/30/solution-to-financial-bail-out/comment-page-1/#comment-19 Nalin Dahyabhai Tue, 30 Sep 2008 22:08:31 +0000 http://blog.rhatters.org/?p=47#comment-19 I think that math's a bit off. (85*10^9) / (200*10^6) = 425. (Unless you're in a country where a billion is 10^12, but we're talking about US dollars here....) I think that math’s a bit off. (85*10^9) / (200*10^6) = 425. (Unless you’re in a country where a billion is 10^12, but we’re talking about US dollars here….)

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