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Someone needs a spanking!

bigdaddyjuniorbigdaddyjunior Member Posts: 11,233
edited October 2008 in General Discussion
I am about sick of it. Parade of Republicans blaming the defeat of the bailout on the Democrats while the Democrats line up to blame it on the Republicans. Meanwhile they all agree that something needs to be done to avert a direct and imminent threat to the United States of America. Yet they can't put aside their personal and petty political differences to do what they perceive as "saving the country". They are behaving like a bunch of spoiled children fighting over who gets to call 911 while Momma is choking to death on a chicken wing. I don't know why that should surprise me since they grew up as spoiled children and have been insulated from the real world by wealth and prestige. Pelosi doomed the bill with her partisan "it's all Bush's fault" introduction of the vote. Why couldn't she just do her job, the one we pay her piles of money for, and just keep her yap shut until after the vote? Today she says that she promised 140 votes and delivered 140. That's all fine and well, but I thought she only gets one vote as do each of the other members, and that one vote better conform to the wishes of the corresponding constituency and not be based on what your party leaders dictate. What galls me even more than having it broadcast worldwide, showing irrefutable proof that these simpletons are the best we as a people can produce for a governing body, is that they roll out a list of PHD economists who, while they can't even agree with each other over the cause or cure for this crisis, are 100% sure that we are not nearly bright enough to understand any of it and should just leave it to our betters to deal with. I presume we are being sent off to play outside while the grown-ups discuss important matters. How about someone gets on the tv and levels with the American people about what happened, why it happened and what can be done about it? If it is true that it all stems from investment bankers buying packaged bad mortgages then let the treasury back the bad loans as they are already legally allowed to do. They are allowed to support money markets too so that retirement accounts and pensions are not depleted. I find it hard to believe that the defaulting of less than 3% of simple home mortgages is enough to collapse the entire American economy. Something else is way wrong that we are not being told about. I have raised enough kids to know when I am being lied to. So to all of our elected and appointed employees; Why not be good little children and tell the truth, take your licks and let us get on with our simple lives?

Comments

  • sig232sig232 Member Posts: 8,018
    edited November -1
    Bravo!! I suspect that most of us are thinking the same way![:(]
  • MercuryMercury Member Posts: 7,652 ✭✭✭
    edited November -1
    BDJ,
    Your average American isn't smart enough to understand "what is going on". And if they were, they wouldn't CARE.

    Hey! Isn't American Idol on???????

    GOTTA GO!!!!!

    Merc (not really...........just saying)
  • bigdaddyjuniorbigdaddyjunior Member Posts: 11,233
    edited November -1
    quote:Originally posted by Mercury
    BDJ,
    Your average American isn't smart enough to understand "what is going on". And if they were, they wouldn't CARE.

    Hey! Isn't American Idol on???????

    GOTTA GO!!!!!

    Merc (not really...........just saying)




    Jeez Merc, you should run for office. You'll have to practice saying things like,"While anything is possible, I don't see myself as doing it nor has anyone come forward who may or may not agree if I had anything to do with it at all!"
  • beneteaubeneteau Member Posts: 8,527 ✭✭✭
    edited November -1
    bigdaddy, I totally agree. I think I would actually faint if anyone brought up the fact that the original sin was Jimmy Carter's "Community Reinvestment Act" and the "big push" on this act by Bill Clinton's administration to insure everyone enjoyed the American dream of home ownership.

    For some reason, not one living soul has said anything about this idiotic Act. The first step by the Senate and the House is to repeal this stupid Act and put the blame where it belongs and then move on.
    0M9InwN.gif[
  • FrancFFrancF Member, Moderator Posts: 35,278 ******
    edited November -1
    10 bad apples in a basket[:D] you guys watch to much TV.
  • 1776-19761776-1976 Member Posts: 299 ✭✭✭
    edited November -1
    An economic collapse is just what this country needs to make the people see the real causes of our problems. The governments answer is to throw more tax dollars at the problems and does nothing to punish the ones responsable. If the reasons for the problems are not corrected the same thing will happen again.
  • LesWVaLesWVa Member Posts: 10,490 ✭✭
    edited November -1
    Republicans, Democrats

    Use your head here. How many of the elected few do you think have gotten there palm greased by a few of these failing companies?

    It would be far to many for them to want it known if the truth came out.


    Sure it's America. But what happened to Standard oil and a few other companies when the goberment though that they were getting to big??
  • 11BravoCrunchie11BravoCrunchie Member Posts: 33,424
    edited November -1
    quote:Originally posted by sig232

    Bravo!! I suspect that most of us are thinking the same way![:(]


    Wow! Lee posted something!
  • frog21frog21 Member Posts: 1,745 ✭✭✭✭✭
    edited November -1
    So if this bailout passes,will there be China flags on bailed-out property?
  • spanielsellsspanielsells Member Posts: 12,498
    edited November -1
    They should all be like Obama and vote "Present."

    BTW, which candidate for POTUS is the 2nd largest recipient of donations from Freddie Mac and Fannie Mae?
  • elkoholicelkoholic Member Posts: 5,130
    edited November -1
    quote:Originally posted by bigdaddyjunior
    I find it hard to believe that the defaulting of less than 3% of simple home mortgages is enough to collapse the entire American economy.


    The problem is mortgage derivatives....BIG banks started bundling multiple mortgages together into new kind of single low yield and low risk investment. Banks world wide began buying and selling these bundles and, just like most real property, they began trading at a value higher they should have. This inflated value started to appear on the "books" of these banks. Banks were using the bundled derivatives to manage their cash supply. Then foreclosures increased and this "low" yield investments turned out to have no yield. The market that the banks had created to trade these stopped working. The bundled derivatives then had NO value and banks were unable to generate the cash needed for daily operation. Depositors then started to withdraw money from banks as confidence in the system failed. Withdrawals increased with the poor stock market performance. Withdrawals increased as the value of the dollar fell. Withdrawals increase as the cost of daily living (gas) increased. Banks began to hold onto what little cash they had left. Banks stopped loaning money. As banks stop loaning money everything grinds to a halt.

    Disclaimer----I have no idea what I'm talking about...just ask my wife.
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