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Why the bailout failed
bigdaddyjunior
Member Posts: 11,233
It is stupid for a bunch of millionaire members of congress and the executive branch to go on tv and tell the american people that we need to open the doors to the treasury to a bunch of other rich guys, who spent the last ten tears or more squandering over a trillion dollars, while ofcourse still getting their comissions and bonuses, and threaten that if we don't bail them out the economy will stall and we will all have a hard time of it. It is stupid because the majority of americans don't have anything left to loose after they have watched their jobs go overseas and watched the remaining low wage jobs go to illegal immigrants, have their homes foreclosed upon and looking at the prospect of spending the winter living in a car that they can't afford to put gas in. I think a lot of people want the economy to collapse if for no other reason than for the company. I think something must be done to fix what these scoundrels have done, but why not sell off their homes in the Hamptons and raid their retirement funds. That's where the money went anyway. I don't have it. Do you have it? No, we don't have the missing trillion dollars, but you can make a sure bet that once this thing does pass, they'll turn loose the IRS to take it from us.
Comments
I agree with all that you have said.
Until then ..don't hold your breath expecting anything except power-grabbing, greed, corruption, wholesale selling out of every treasure America has.
There will be no change at all except for the worst ..until that fateful day.
D.
Agreed, and we must make certain efficiency is exercised when we spend it.[;)]
Bailout = Rob Peter twice to pay Paul!
" that lobbyist would get his * kicked and tossed out of the capital"
I'd be the first in to start kicking *....not only lobbyist...but all the current crooks that take up residency in DC ....pitch their * right out on Pennsylvania ave!
After that, they OWN US.
And there's NOTHING in the Constitution to support it.
Let the market fail and correct itself. For our KIDS sake!
http://forums.gunbroker.com/topic.asp?TOPIC_ID=327464
The bailout is nothing but a socialist play for the Gov. to take over the financal instututions of the U.S.
After that, they OWN US.
And there's NOTHING in the Constitution to support it.
Let the market fail and correct itself. For our KIDS sake!
[;)] Can he get an AMEN!
It's comical to think that a half dozen firms on Wall Street could cause a mess of this magnitude. The real culprit in this mess is the people who took out mortgages on property and then defaulted on the payments. No one seems to be talking about how the deadbeats caused this problem, or how the Federal goverment encouraged it in the first place. See:
http://forums.gunbroker.com/topic.asp?TOPIC_ID=327464
The jerkoffs in the lending industry could have, would have, and should have prevented this by NOT lending to bad risks.
I know it's real popular to kow tow to the rich and powerful, but let's place the blame where it belongs: the fat cat lenders confused paper figures with actual assets, got too greedy for their own good, and lent way too much money to people who were worse than bad risks - they were wholly unable to pay.
Now tell me, if I have a million bucks and I give it to some homeless person at 50% interest, who's the * here?
I wish you were right, but I don't think it will happen. Too many generations of people have been taught that GUNS ARE BAD!!!!!! And no matter what happens, you won't be able to change their minds. [xx(]
Merc
quote:Originally posted by Highball
Some fine day, the American people will get a belly full, and they will TAKE their country back.
Until then ..don�t hold your breath expecting anything except power-grabbing, greed, corruption, wholesale selling out of every treasure America has.
There will be no change at all except for the worst ..until that fateful day.
Jim
www.bloomberg.com/apps/news?pid=20601087&sid=aP5hzUWla7Jg&refer=home
This is on top of the 700 billion "bail out" and a done deed!
When it comes around again it's going to be called a 'RESCUE' instead of bail out.
I mean who could be against a 'rescue'?
?
Jeeez [V]
Allen
We - or more correctly, our elected congressional reps - have to accept the fact that not every American can afford to be a homeowner, and legislate accordingly.
Its ironic the bailout failed most likely because of upcoming elections... many Reps voted against because an "aye" would cost them votes. Rarely does voter opinion override party politics; one for the godd guys!
Also agree with FEENIX.
quote:FEENIX
It was a shared risk(s) by all parties involved and they should be held responsible and face the consequences of their actions.
For the most part the companies that have gone belly up were purchased and taken over for the better by more responisible compianies. Which is what will happen if no bail out is in place.I think any company that gets them selfs in that postion should go under. We will recover. So most of you heard the payout amount for the WaMu ceo. He only heald the position for 3 weeks and received 19.1 million or 1220.00 per hour for his services. These companies deserve it.
I didn't hear that, but if he received over 19 million for being there 3 weeks, that's nearly $38,000 per hour, for 24 hr days, 7 day weeks (504 hours).
no the real culprits are the banks who loaned the money.....basically as an unsecured loan so to speak.
"The real culprit in this mess is the people who took out mortgages on property and then defaulted on the payments"
no the real culprits are the banks who loaned the money.....basically as an unsecured loan so to speak.
It is easy to get politics involved in all of this(I am not accusing anyone),but it seems that these loans were secured .
Through the Community Reinvestment Act,the Gov. has basically
"co-signed"for these loans.
It could be simplistic to look at it this way,but ultimately
the banks were looking at the Gov.as the responsible party.
Anybody who has had a gov. insured student loan can relate .
-
-
Off base ?
Are the banks trying to collect on the insurance ?
It was a shared risk(s) by all parties involved and they should be held responsible and face the consequences of their actions.
The problem is that it is not a shared risk.
These people did not share their profit but are demanding we share their failed risk while they keep their personal compensation that is part of the failure.
The ratio of people calling/emailing their representatives ranged for 20 to 30 against for every one in support of the failed bail out.
Let this thing crash now so we can rebuild from reality and not continue to postpone the pain in hopes a miracle that will never come, comes.
We continue to make the eventuality worse
Wulfmann
"Fools learn from their own mistakes. I learn from the mistakes of others"
Otto von Bismarck
This bill not only controlled the "Golden Parachute" deals..but REGULATED the salaries of Corporations(utter BS!)...WHAT A DEAL...maybe if we all write our Senators we can get TOTAL wage control...worked for years in the USSR.
It's Armegeddon so lets put PORK into the bill, heh dims?
Turn over the Preamble to the Constitution to the LIBERAL Paulson, raise of hands for all that knew Paulson IS a Liberal...Little Chuckie Schumers bestest friends. Unheard of POWER for all future Secy. Of The Treasury? BS!
I DON'T give the 90+ Dims ANY credit for voting against this garbage...the bill did NOT have enough PORK in it to PLEASE their "give-away-your-money" nature is all.
The Dims wanting to give ACORN MILLIONS OF DOLLARS, the Barrack Hussein Obama (he was the LEAD attorney for ACORN for YEARS) "community" group that is being CONVICTED of voter fraud all across the country as we speak; is incrediable!!! WTH next...direct funding of the Marxist Party by the Dims, oh, that is happening now, a donation to the Dim Party or Barrack Hussien Obama...my bad.
...Banks and other lending institutions did NOT lend this money because they "wnated" to, just to increase their "wealth", institutions KNEW this "formula" was a looser; the formula they used to loan this money was social engenineering contrived by the libs, ENFORCED by the Libs. The lending institutions KNEW loaning this was money was BAD business but were literally threatened by he/she "it" Janet Reno and Jamie Gerlic among other CLINTON Administration clowns...it's ALL on record, and now appearing on U-Tube also.
The institutions were THREATENED with breaking Federal Red Lining laws if they did NOT give these BS loans, the banks knew better but WTH were they to do with the Clintoon Commies threatening them and the Weener Franks/Chuckie Schumers/SweetHeart Deal Dodd and 99% of ALL DIMS BLOCKING any exsposure or REGULATION of these grand liberal experiements??
I don't care much for the Repubs, less for the Dims...but there is NOT even CLOSE to "enough blame" to "go around", jeez, read up on Fannie/Fredddie...the PROBLEMS...and WHO tried to rein in these LIBERAL ran institutions...thank you DIMS![xx(] Weener Franks and Dumb Dodd are BIG defenders of this failed experiement...and the idiots want to get INPUT from these two POS for a "fix-it"....chit! Hang these treacherous fools.
With the way the DIMS LOVE investigations, do you REALLY think if a Repub was involved to the degree that the dims "want" all to think that an investigation wouldn't have been begun YESTERDAY?
Whats done is done, the sky is not falling...and BRING on the investigations PLEASE...under Peanut Carter the economy was worse, oh how we forget...or how we want to re-write history for and election ploy...[;)]
Fideau;
Please remember...YOUR president is the guy going on the tube 3 times a day..first ORDERING the bailout...then begging, the last couple days....
quote:The "bail-out" is another scheme by the Dumocraps, who have been the main reason for these problems, to steal the country and
Fideau;
Please remember...YOUR president is the guy going on the tube 3 times a day..first ORDERING the bailout...then begging, the last couple days....
Yep, old GW wants this to pass, so he can give a bunch of bankers more control over the US's money. I still feel this is a part of a ploy to destroy the dollar. This way they can introduce the Amero as the new save all currency. This will also destroy the Constitution, American soveriegnty, and give them the North American Union the Bush's and Clintons want so bad.
quote:The "bail-out" is another scheme by the Dumocraps, who have been the main reason for these problems, to steal the country and
Fideau;
Please remember...YOUR president is the guy going on the tube 3 times a day..first ORDERING the bailout...then begging, the last couple days....
I'm sure not happy about that either. He's been a disappointment I didn't expect. I just couldn't stomach Gore or Kerry. Who knows, maybe the worst would be over by now if Gore had won. Hate to be so fatalistic. Just worry for my children and grandchild.
I'm afraid it's going to take a lot of suffering first and maybe a generation or two to harden enough people to make it happen. Heaven help us.
Spot on.
quote:Originally posted by FEENIX
It was a shared risk(s) by all parties involved and they should be held responsible and face the consequences of their actions.
The problem is that it is not a shared risk.
These people did not share their profit but are demanding we share their failed risk while they keep their personal compensation that is part of the failure.
The ratio of people calling/emailing their representatives ranged for 20 to 30 against for every one in support of the failed bail out.
Let this thing crash now so we can rebuild from reality and not continue to postpone the pain in hopes a miracle that will never come, comes.
We continue to make the eventuality worse
Wulfmann
I said shared risk(s), not equality.
quote:Originally posted by Highball
quote:The "bail-out" is another scheme by the Dumocraps, who have been the main reason for these problems, to steal the country and
Fideau;
Please remember...YOUR president is the guy going on the tube 3 times a day..first ORDERING the bailout...then begging, the last couple days....
Yep, old GW wants this to pass, so he can give a bunch of bankers more control over the US's money. I still feel this is a part of a ploy to destroy the dollar. This way they can introduce the Amero as the new save all currency. This will also destroy the Constitution, American soveriegnty, and give them the North American Union the Bush's and Clintons want so bad.
I used to think this was the worst kind of tin-foil hattery.
But let's face it, you couldn't ruin the economy more effectively if you were trying to....
Forget the depression/deep recession that is coming;
No...the HARDEST job decent, law abiding, believe-in-the-system Americans will face...ARE facing;
Their leaders, both business and governmental, are corrupt.
This sell-out by elected/business leaders is of such a magnitude as to be unparalleled in HISTORY...by any despot/murderer/fanatical dictator EVER.
Every other Nation/despot started in near bondage ..for freedom such as we enjoyed for a hundred years was UNKNOWN to history.
No....our ` leaders' have taken a free people and made serfs of them.
The slit trenches and roundups are right around the corner. Next year, five years, ten ..they are coming.
The ABSOLUTE ONLY CHANCE LEFT is if ENOUGH Americans wake up soon enough with the will to do what is neccessary.
All is lost...if not.
Forget the bailout;
Forget the depression/deep recession that is coming;
No...the HARDEST job decent, law abiding, believe-in-the-system Americans will face...ARE facing;
Their leaders, both business and governmental, are corrupt.
This sell-out by elected/business leaders is of such a magnitude as to be unparalleled in HISTORY...by any despot/murderer/fanatical dictator EVER.
Every other Nation/despot started in near bondage ..for freedom such as we enjoyed for a hundred years was UNKNOWN to history.
No....our ` leaders' have taken a free people and made serfs of them.
The slit trenches and roundups are right around the corner. Next year, five years, ten ..they are coming.
The ABSOLUTE ONLY CHANCE LEFT is if ENOUGH Americans wake up soon enough with the will to do what is neccessary.
All is lost...if not.
Highball get real. As long as american idol isn't canceled no one cares. [xx(]
We're done. It's just taking a little more time for the "gub" to put the icing on the cake. [xx(]
Did the house already vote? If so I missed it.
No,.....it will be the Senate this time, and will pass them.
Possibly tonight, or tomorrow.
They will then be able to make the House appear to be the ones holding this up.
It's gonna pass,......like it or not. I just hope that everyone remembers the ones that voted against their wishes.
My Senators will vote FOR it,.....my Rep will NOT.
We even have talking heads like Bill O'Reilly saying that if this isn't passed, we will have violence in the streets, as folks lose their homes, and cars.
What a bag of hot gas he has become over the years. Must have gone to "Oprah" training school. He is a knucklehead that reads a teleprompter, but somehow knows what is best for the country.
The "violence" should come when our Congress goes totally against the wishes of its citizens.[}:)][xx(]
quote:The "violence" should come when our Congress goes totally against the wishes of its citizens
I though this happened years ago. [:(!]
I forgot to add one of my senators is Obama.