Comments on: A Great Day in Wall Street! Where are toxic assets going?

By: Cliff Vaz

Cliff Vaz — Tue, 05 May 2009 23:37:01 +0000

My thoughts on this are that apparently there appears to be no other way to get rid of these “toxic assets.” However, I don’t agree with the fact that several million investors( aka: Your average Joe) will be assuming these toxic assets while the banks will be allowed a “clean slate.” With that said, it does appear that this will in turn eventually benefit the consumer, once the banks will start lending again. The question to be raised then would be ,”What are the chances that the banks put themselves in the same situation that lead to this crisis?” Steps need to be taken to closely monitor the reliability of the people whom the banks will be lending to, pertaining to weather or not they are able to pay them back.

By: Chris Marino

Chris Marino — Fri, 01 May 2009 04:30:38 +0000

I agree with charlie at the top. I think that its unfair that because the bank screwed up that investors are going to lose money. I just hope it doesnt lead to another issue in the future. But it seems like the only alternative to get rid of these toxic assets but its unfortunate that its at the expense of the investors who are investing to make money but instead they are being set up for failure, it almost seems like a crime.

By: Lauren LaCommare

Lauren LaCommare — Fri, 01 May 2009 03:07:34 +0000

Despite the fact that some of the investers will be owning some of the toxic assets which will end up generating a return on their money. the market for the toxic assets will be similair to purchasing junk bonds where they are very risky investments with a potential for making a return.

By: John Shaw

John Shaw — Wed, 29 Apr 2009 23:08:25 +0000

This is a touchy subject. I think it is somewhat a good idea but I think those who will be taking the risk will be other countries. (I haven’t read on the exact points of this so this is all opinion) Not many people in the U.S. have the assets and such to take a risk so I ask myself who would do this? Other countries who are prospering. And what will that do.. make us belong to other countries? We used to be so independent. But now we may be controlled in the future. I think it is so unfair. As much problems as it may cause to us, we should let these banks crumble. Why is it, that the greedy bigwigs get to make horrible greedy decisions such as give out loans to those who don’t have to show proof of income and OBVIOUSLY can’t afford such home loans, why do they get to make such huge mistakes, go into debt, cause the economy to be the way that it is and screw us all over, give their CEO’S huge partings gifts, while we still suffer. Why do they get to cause themselves so much debt only for US to bail them out. When the individual American is in debt, starving, wondering if they should pay rent or mortgage rather than eat or buy medicine, where is OUR BAILOUT? Why when we as individuals make small mistakes, why are we screwed over for a decade or more on our credit reports and life in general with no help? I think it is so unfair. Big companies can get away with anything it seems while the little guy gets crapped on. Big guys get forced help from us yet the little us isn’t getting helped. Those responsible for creating this mess through their greed, should be imprisoned for life. It is as if their debt is being ‘erased’ and taken over and regulated. Then do it for the individual. All of our debts should be erased. We should ALL start over. All of us need to take a hit. Forgive and forget, and learn from our mistakes. Start over fresh with strict guidelines.

By: Stephen Ikalainen

Stephen Ikalainen — Tue, 21 Apr 2009 01:35:47 +0000

Hopefully this works by creating a new market that doesn’t exist at the moment generating some new revenues in the marketplace. Even though these toxic assets are considered high risk honestly what isn’t high risk now-a-days in the marketplace with our economic situation. Any ideas that can maybe help keep our economy flowing are good ideas. Not every idea thrown out into our economy is going to work so the more we try the more we will succeed because it helps create new jobs and ways to think of helping our economy. Since banks will have a clean start this means people will be able to refinance their homes and loans will once again be given out without such a high return of investment asked for by the banks. This will help allow more people to live in these houses that banks foreclosed. If the banks start lending again people will have more money to spend on the economy in investments hoping to make back double the return on their investments creating more funds for everybody but this don’t always go as they seem but hopefully this will begin to help our economy.

By: Trevor Brooks

Trevor Brooks — Wed, 15 Apr 2009 14:15:16 +0000

It’s a great idea, but do you honestly think the investors are going to buy it? I mean these are their retirement plans we’re talking about here. I know I wouldn’t be willing to give up any small percentage of my retirement plan to aid other businesses. Maybe I’m just selfish, but I’m a strong believer in not dishing out my hard-earned cash to those who are suffering the consequences of their own self-inflicted skrewups.
But, after saying this, I think it’s a great idea. After all, it really isn’t my money they’re giving away, and it’s not my hard-earned cash I have to worry about losing. The economy could definately use this sort of boost to help get it going again. As long as we continue to make smart choices (such as only lending money out to those who can afford to pay it back), there’s a chance it might work. Of course, as always, it’s easier said than done. This whole plan I’m sure is “perfectly” worked out in the mind of the facilitator, but there is still plenty of room for error. What’s going to happen when these investors finally come to the realization that there’s a comet sized dent in their retirement funds? Ha, I can’t wait to find out to be honest. But until then, hopefully everything will go according to plan, and we can live happily ever after. The end

By: Mark Hester

Mark Hester — Mon, 13 Apr 2009 03:42:29 +0000

This appears to be a good idea on paper, but the question is will enough investors be willing to go through with the plan? If everything works out, then things will be good again, but that will be decided by the future decisions of the banks. Will they stop giving loans to people who obviously can’t afford to pay them back, or will they continue their irresponsible ways once the economy is back on track? I think this plan can solve many of the nation’s financial woes, as long as people are responsible enough to do what needs to be done for the good of the economy.

By: Mr. Ramos

Mr. Ramos — Wed, 08 Apr 2009 21:37:39 +0000

It was a Great Day in Wall Street. Isn’t that a relieve that the Dow went up 6.8%. Most people will say no worries. But others are looking forward for a long term retiring fund. As for the banks they sabotaged there loaning spree because of none qualified borrowers they were lending to. Really, there is nothing we can do but wait and see what they are going to plan out for this situation.

By: ND

ND — Sat, 04 Apr 2009 14:00:09 +0000

OK so i think this is an….ok i dea. I mean it would solve some of our problems with the toxic assets but in the end we do have to deal with the inflation and the housing market. W hat will happen when all this money builds up? i dont really get that. I hope this plan will work and the economy will rise. I guess this plan has a good and a bad.

By: Peter Howland

Peter Howland — Fri, 03 Apr 2009 17:24:42 +0000

Even though this might be great for the banks being swept of their toxic assets, these toxic assets are still going to go to someone to pay off, it’s not just not going to magically disappear as Barry O says they are going to be, Ron is right this is just a smoke and mirror game to distract the American people from seeing the real object that Obama wants to do. Obama and his Hench men and their ideas will be the bringing down of this country, he’s been in office for less than 100 days, and the economy, and the safety of this country is worse than it’s ever been. We’re in a September 10, 2001 mind set, because everything Obama is doing is making our country unsafe. When all this money that the government is printing to give to these companies hits the fan of reality there will be huge inflation rates like the ones people saw in the 80’s with Jimmy Carter, the unemployment rate hit a 25 year high today, and the housing market is still terrible. I see the second coming of Christ to which they say Obama is can’t solve these problems that we have, his ideas have not done any good for this country, maybe for the CEO’s of the big companies for their bonuses, but not to the regular folk out here. I agree that all this spending, that is coming with Obama’s outrageous spending will bankrupt our great country because if china stops buying our debt, this country will be an abomination