The US investor will not gain any confidence in our US Government and or our economic investing systems until those that are guilty of creating the financial mess that the US is now in are accused, prosecuted and jailed. The US Congress are the ones that are responsible and guilty for the laws and legislation that forced home lending institutions and banks to lower their lending standards to a point of predicted economic catastrophe. For those Executives at Freddie Mac, Fannie Mae and Country Wide Mortgage Company that were associated with US Congressmen and complicit in the formulation of these bad laws and legislation let them be culpable as well as the US Congressmen. For all those that formulated, pushed and forced those bad laws and legislation; let them resign in shame, lose their pensions and health care and live in shame and poverty like millions of Americans that have suffered because of their incompetence, irresponsibility, arrogance and greed.
DON"T buy anything until they re-instate the uptick rule on short selling. Back in Nov. both Exxon & Chevron fell 9 points each in the day the market dropped 800 pts. That could happen without short selling without the uptick rule. The shorts are in control. Save yourself's $$$$$$$$$$$ The market topped within the Month the SEC removed the uptick for liquidity. Note: SEC CHAIRMAN Cox was either stupid or corrupt, and either adjective is bad. (I don't think he was stupid)
"Find the guilty, acuse the guilty, prosecute the guilty, sentence the guilty and then move on."
Okay...I once served as a prosecutor in a California District Attorney's office.
Are you willing to pay more taxes to fund hiring a lawyer for the prosecution, paying the lawyer's medical plan and retirement, paying for the required Continuing Education hours, providing secretarial staff, funding judges and court clerks, funding their medical and retirement plans, and supporting a local courthouse building...and if the prosecution is successful, funding a prison to hold the convicted prisoner in, paying for prison guards, prison guards' medical and retirement plans, not to mention prison medical facilities with doctors, paying for the doctors' medical and returement plans, etc. etc.
Words are cheap...be careful what you wish for.
I should have included one of the best articles about why the US is in such a financial and economic disaster in my original posting. The article, "545 People" written by Charlie Reese is a great article and well worth your time to read. It may just help you understand our present situation with a little more clarity. The link to the article is attached below.
May I direct you to the below attached link, "545 People" written by Charlie Reese.
It's one of the best common sense articles that I have see lately and explains volumes about what is now going on with our economy.
"Gee, you must be a liberal democrat"
Funny how that sort of comment does little to further the discussion of the crisis at hand. Considering your link to the Cato Institute, Karl Rove's best friend, you're hardly in a position to throw partisan stones.
Bill Clinton & Congress...for playing up to the low income uncredit worthy and with his motto of "a home for every person in America" and George W. Bush & Congress for not trying to tighten credit approvals and making it harder for Home Buyers, Car buyers and anyone appling for credit to qualify for loans. Lets face it...if you are I were in the loan making business & making our living on selling loans...Under Congress guidelines, I would have approved the uncredit worthy and unpayable loans...after all that was what the government wanted, they passed the laws and lowered the credit lines. Can you say "SUB PRIME"?
The only ones who were not hurt by the economic meltdown was ... Congress...time to limit Congressional terms, 2-terms just like the President...Then I would look at the benefits of Congressmen..Unreal...time for a Boston Tea Party...I am going to stand up for what right, even if I have to stand alone...Lonestar5775.
WE TEACH PEOPLE HOW TO TREAT US!
IT IS THE FAULT OF THE CROWD THAT WANTS TO FEEL GOOD NOW.
The name of the game is to get the money from those who have saved it.
Give it to those who will vote for us!
Ease up on the credit requirements and think of something to get the assets from the second and third family incomes. Sell them boats, Suv's, snowmobiles 5th wheel trailers, tattos, diamonds for their ears and navels......just get the damn money away from them.....
People, you go ride around in your new vehicles with your pants half off and show your navel diamonds! Gee, go in and buy some scratch tickets and I'm sure others will be envious of your luxuries that are parked at the curb and hanging from your whatever!
It is said that if all of the assets in the world were divided evenly and distributed to the people of the world....the assets would be right back in the hands of those who have them today!... I believe that Obama is aware of this and is trying it!
Where the hell is the plan that will send me my portion?...uh ohhh, Obama is sending it thru the Banks and the UAW credit unions. Sorry Chief! I should be more patient until I lose everything in this fuked up market.
Right on Lonestar5775. What really makes me angry is the new media not pointing out or helping hunt down the guilty individules. All they do is keep the mess stirred up instead of going after all that are guilty. And, the news medial knows exactly who they are and what the true story is. Our US Congressmen are the guilty ones that have caused this financial mess and somehow they keep deflecting the blame with the help and assistance of the news media. Unbelieveable!
The US Congressmen that are in the forefront and presently heading all of the Congressional Committees that are laying the ground work, making the plans, working on legislation and laws to fix the present US economic disaster are the very ones that caused it in the first place. Just watch the US news media programs and see who the Congressional majority is trying to blame for the present US economic debacle on someone else or a previous administration.
As time goes on, their days are getting shorter and the noose is getting tighter. I really don’t know how those folks get a decent nights rest with the guilt of millions of US citizens on their minds and shoulders who have met hard economic times because of their incompetence, irresponsibility, inflated egos and greed.
I completely agree with you. If illegal acts were committed, the perpetrators should be brought up on charges and punished to the fullest extent of the law.
But be careful, I think you're directing your anger at the people who are earnestly trying to fix this mess--instead of at the rotten scoundrels who actually caused it.
What about all the folks that took out the loans they could not afford? They are the ones walking away from their commitment to repay the money. Now, those of us responsible enough to make sure we didn't take out unreasonable loans will end up paying to help bail them out.
In fact, it seems that a lot of the stimulus package will actually reward both the folks who took out the loans and those that loaned the money.
You are correct and that is where the problem lies. Congressional laws and legislation forced the lending entities to lower their loan standards until those that knew they could not afford a home said, "what the hell, what do we have to lose", let's give it a try. It will most likely be the only chance we will ever have. This is America...... Surly someone will take care of us if we make a mistake. They have in the past..... And, what were the lending institutions supposed to do???? Break the law and not lend the money????
And there in lies the problem that was started 30 years ago and has finally erupted in the biggest economic disaster in US history. Sad but true.
You are a gifted individual with an above average vocabulary with an education and exposure to “left wing” ideologies. For my comfort, you are way too left for me to have a disciplined disagreement with based on fundamental and past facts when you are not even a US citizen and using second rate undocumented opinions from a non US educational facility located in Spain. Let's get real here. Give us all some real research, facts, documentation and past history instead of a smoke screen of "out of country" reteroic and opinion