Seems that those who prospered due to their unethical manipulations of the subprime mortgage fiasco should NOT be REWARDED once again by Joe Six Pack who took the hit in the first place!
Will the people who caused the CRISIS by be bailed out by the people who were hurt by the crisis? That's what it looks like.
Will the rich become even richer while Joe Six Pack become even POORER?
say it ain't so, eggs N ham
What this is is a transfer of wealth (again) We bailed out Bush #1 S&L and his banker son Neil and are still paying for it. We're doing it again. They'll tell you Free markets great when the wealthy are tripping all over their money and Socialism doesn't work unless it's bailing them out. If they bankrupt the country then it'll wipe out Medicade/medicare, VA, and soc security unless privatized. What they aren't saying is they operate efficiently on 2-3% admin costs and when we privatized Fannie and Freddie we got this debacle. They'll convince joe sixpack they'll have to raise taxes and that'll scare the hell out of him. What they don't say these Republican caused bailouts are a higher tax than they'd ever pay. Then they brainwash joe and tell him it's unamerican for him to ask for assistance and to pull himself up by his bootstraps. I came to this board to discuss recent decline of KO. How long do you think it'll be this low.? Oh, Warren Buffet said we have a better chance of turning this mess around with Obama than Mccain. God Bless him.
I imagine I get it at least as well as you. You may think the debt is too great and the debt is great, but you cont fail to appreciate the actual asset base as well as energy, imagination and profitability of much of our economy. We will overcome this crisis as we have all others.
QWAK,eggs,Even IF they DO IT --IT won't WORK! LOL
Proof POSITIVE that people are REALY just "TUNA -- with LEGS!" :(
Wile cought up in FEAR and EMOTION one tends to make BAD choices and decisions -- so do NATIONS! :(
Our current situation is extreamly conveluted and intentionaly CONFUSING and intended to BLIND the masses so that they will FOLLOW and OBEY with out indivigual THINKING and proper deliberation on what long term out come will likely occure in persuit of a short term FAST FIX which will only make things MUCH worse! :(
People have TOTALY lost the concept of what MONEY "IS" and what it REPRESENTS --it has become SO ABSTRACT that it is lost in the back ground.
More proof that people are TUNA with LEGS.;)
The USA is OVER, but no one told the TUNA --YET! :) Sorry CHARLEY!!
"WE don't OWN any of that stuff NO MORE,it is ALL in HOCK"
Roger that Duck! When the Fed expects our nation to dole out 1 trillion dollars, of our money, to the same CROOKS who CREATED this financial mess you know that something is ROTTEN in Denmark!
As you mentioned Duck, there haven't been any people charged yet with promoting the GREATEST FINANCIAL SWINDLE IN THE HISTORY OF THE WORLD!
That speaks volumes. IMO it means that so many people are involved in this PONZI scheme who made out like a bandit, and that this scam reaches the highest levels of leadership.
Somehow we are now expecting the architects of the GREATEST FINANCIAL SWINDLE IN THE HISTORY OF THE WORLD to now pay out 1 TRILLION DOLLARS, of our money, and transfer it to the ones involved in the GREATEST FINANCIAL SWINDLE IN THE HISTORY OF THE WORLD!
The fox is guarding the hen house and we expect him to make sure the hens are taken care of?
What's next .... a bailout of 1 Kazillion Trillion dollars, of our money? And Paulson will ask for that with a straight face.
eggs N ham
QWAK,alpha,YOU are a MORON!!!!
This BAIL OUT sells the people of the USA in to SLAVERY and it WON'T fix ANY THING but the SCAMERS who already F**KED us all already!
IF they DON'T hunt them down and TAKE EVERY THING THEY OWN then THEY WIN and EVERY ONE ELSE LOSES!
You have NO IDEA what is coming and how BAD it is going to get! :(
You gots to get off your mountain, Dwuck and visit great nation that is the USA. Its wondrous farms, its magnificent universities, it hospitals and research centers, its incredible entertainment centers, its incomparable retail offerings.
QWAK,NOW we know WHEN the BUCK STOPS -- real DAMN SOON and we ALL will suffer greatly --countless numbers will STARVE and DIE because of the GREED of a fiew!
The greatist CRIME in HISTORY and they just get to WALK AWAY?? :) And they get to KEEP all they STOLE from us ALL!
I DON'T think SO!!!
HUNT them down like RABID DOGS!!
Eggs while I agree that those causing the crisis should not be rewarded, to the extent that the stock of these 'managers' has been decimated, dont you think they have been penalized. Certainly those that broke laws should be prosecuted and those that held/hold the most senior of executive positions during the hey days before the debacle should be terminated. But overall if both the Dems and Publicans, Cons and Liberals agree that this 'bailout' is in the nation's economic interest, what other choice do we have.
"if both the Dems and Publicans, Cons and Liberals agree that this 'bailout' is in the nation's economic interest, what other choice do we have."
Historical event occuring Alpha, which may chart a historical course which may have negative unintented consequences which at present we are unable to fathom.
I just hope and pray that whatever Congress decides in the next few days rights our ship of state.
But, can we expect the political division to suddenly cease and decest and somehow they will put our Country ahead of their own selfish ambitions?
Seems our Capitalistic System is in jeopordy as our Free Markets have been trumped by government intervention. Not to mention that now China will apparently become a big owner of one of our major banks (Morgan Stanly?).
IMO there is so much money flowing into Washington via lobbyists that our representatives have been corrupted by same. Now we expect them to focus on our nation's best interest whereas they've been focusing on thier own best interests for decades.
The approval rating of Congress is about 9% last time I checked. Now we're asking them to vote on a bailout package that may have a dramatic efect on our future. Can they be trusted to make the right decision?
eggs N ham
QWAK,eggs,to answer your question in a word --YES! :(
How ever it is also an OPERTUNITY to INDEPENDENTLY "STEP OOF" and "STAND ALONE" which is both scarey and SMART because most will as usual do the WRONG THING acting out of FEAR rather than THOUGHT and DELIBERATION!
IT can NOT be STOPED but one can MINIMISE the indivigual IMPACT and perhaps even PROSPER but it will take COURAGE and RIGHT THINKING!
"IT can NOT be STOPED but one can MINIMISE the indivigual IMPACT and perhaps even PROSPER but it will take COURAGE and RIGHT THINKING!"
Note Duck that our Congress HAS NOT even attempted to hold hearings in regards to the GREATEST RIP-OFF SCHEME ever perpetrated on our nation, or for that matter the WORLD!
Could it be that many in Congress are complicit and they DO NOT want their role in the GREATEST RIP-OFF SCHEME in the history of the world to be devulged?
Congress can work this weekend in order to formulate the BAILOUT PLAN of a Trillion Dollars (which we will pay), but they couldn't over the past year, hold HEARINGS in regards as to how the GREATEST RIP-OFF SCHEME in the history of the world developed and how to avoid same in the future!
The devil of the Rescue Plan is in the details! Will any one in Congress even voice opposing this Bail Out Package?
eggs N ham