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24HourForums.com > The Top 10 Supported Forums > 24's Political Matters > Do you think the Government should give $700 billion to the financial industry |
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sirlamre Pioneer100© Member Official Forum Troublemaker
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especially with a narrow amount of oversight and requirements on it? Some statements from Dodd that I agree with: "I'm not going to write this at the end of the day [and] watch a handful of chief executives walk away with multimillion-dollar contracts. " <You got THAT right -- SCREW watching CEO's get parachutes of millions of dollars> Paulson on the economy recently: "Remember our economy has got very strong long-term fundamentals, solid fundamentals. Your policymakers are here; regulators were being very vigilant." How can the argument be made that they were vigilant when the bottom is falling out of the market? Dodd: Back in 2005, [then-Rep.] Mike Oxley, along with [Rep.] Barney Frank and [Sen.] Paul Sarbanes, tried to do just that. (regulate and policy) The administration opposed the bill, and it was defeated on a party-line vote here in the Senate.
 Turn thou unto God and say: O my Sovereign Lord! I am but a vassal of Thine, and Thou art, in truth, the King of kings. I have lifted my suppliant hands unto the heaven of Thy grace and Thy bounties. |
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cynicalninja Forum-Blogger© Original500© Member  Happy Heretic
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No, I personally don't think throwing another $700 billion on the financial barbecue is good fiscal policy.
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librtyhead Original500© Member 
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If this does not work be prepared for government freezes on retirement accounts and all certificates of deposits. so cross your fingers. There is no contingency plan after this effort.
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sirlamre Pioneer100© Member Official Forum Troublemaker
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librtyhead wrote: If this does not work be prepared for government freezes on retirement accounts and all certificates of deposits. so cross your fingers. There is no contingency plan after this effort. I don't even wanna KNOW what has happened to my Vanguard 401k. Yes, yes yes.. it's diversified. but EVERYTHING is going downhill like a tank falling over the side of the ship in the middle of the ocean. Yeah, maybe only "3%" of what's in my 401k has flat out gone out of business. but the other 97% has taken a Wall Street thumping. I probably don't HAVE any retirement investments now, and if I still do, I won't by next month. Even if I had LAND, no one could afford to buy it. Even if I had GOLD, what would I do, give someone a tiny little chip of gold in return for non-existent gasoline? Or a $2.00 little chip of gold for a dozen eggs? Last edited on 06:31 pm by sirlamre Turn thou unto God and say: O my Sovereign Lord! I am but a vassal of Thine, and Thou art, in truth, the King of kings. I have lifted my suppliant hands unto the heaven of Thy grace and Thy bounties. |
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librtyhead Original500© Member
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It will go up again I have faith and bullets. I'm not scared yet.
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aknow Original500© Member
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What's this $700B going to do? Reward unethical immoral bankers and investors who sold BS mortgages? Why keep rewarding very bad behavior? This is just like the Iraq war. A bad idea with disastrous results. Another golden arrow in the Bush Administration quiver. Except now in addition to having a Homeland Insecurity Czar we have a Treasury Czar. Why aren't some of these both political and financial execs in jail? Dr. Steve
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librtyhead Original500© Member
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I place the blame squarely on the shoulders of the stupid people who signed those contracts. It's a good thing bankruptcy laws were changed a few years ago.
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pmh1nic Pioneer100© Member 
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It's another case of having to choose between two bad options. There is part of me that says let the companies involved collapse and let the market (meaning the companies, employees and general population) deal with the consequences. Those consequences will be pervasive, worldwide in scope and in the short term tremendously damaging to the U.S. economy. That said letting the collaspe occur may be a first real step towards a returning to sound fundamental economics. A real second step would be dramatically reducing the size of government and the taxation that is a gorilla on the backs of the American citizens and the small business that employ most Americans. However, going this route means sacrificing and suffering the pain today so that the next generation has a real chance at prosperity. Taking this course runs counter to the philosophy of immediate gratification and greed that dominates our society so my guess is the bailouts and march toward socialism will continue.
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24HourNut Administrator  Body pillows rock!
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I have a feeling the top dogs in those companies will still get their giant payouts and bonuses, and keep all their assets.
The best human beings start good new topics and vote on the better posts. |
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librtyhead Original500© Member
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It is only human to think that everybody is not paying their fair share. And it's probably true. Many people would get a kick out of seeing a Fat cat living in a box.
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Aethelred Pioneer100© Member  Ye Olde Dead King
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Do you think the Government should give $700 billion to the financial industry Think of it this way: Let's say I loan you $10,000 to start a small business and you blow the money on lotto tickets, booze and hookers. Then a while later you need money to pay your rent and car payment. Do you think I will come to your rescue and bail you out? Why should I and 300 million people like be be forced to bail out a bunch of bankers who loaned money to people who they knew could never pay it back? I say let them fail and let the people who bought houses they knew they couldn't afford go find a nice box to live in!
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Millennium Original500© Member
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Another golden arrow in the Bush Administration quiver Aknow...do you know anything about this situation? Anything?....Evidently not...Rather than point it out to you again...just keep on believing it was Bush's fault, if it helps you sleep at night...Please don't let any facts disturb you. To keep on with this line you keep spitting out, after most if not all people know, the fault is pretty much shared ( I'll give the Dems the benefit of the doubt here, knowing the evidence implicates them even more) shows you are completely clueless or really a Democrat homie, that will accept any thing as long as you get your guys back in power.. This is just like the Iraq war Yea...right...a defeated liberal at heart...In case you haven't noticed...that war is well on the way to being won...no thanks to the American Terrorists Party...I mean Democrats. Last edited on 02:39 am by Millennium |
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wallstreetman Original500© Member Patriot
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No, let the cards fall where they may!
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Millennium Original500© Member
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No, let the cards fall where they may! With this FBI investigation coming up...I can bet you there are going to be some scared Democrats...LOL........Oh yes!
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aknow Original500© Member
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Millennium wrote: Another golden arrow in the Bush Administration quiver Please enlighten me Mill: How do you win a war that is a Civil war you imposed on a nation? What constitutes the victory? And Bush, like you and me, sat on his collective ass and watched this meltdown happen. The gall of his Treasury secretary to ask for a 700B dollar blank check that he has total control over. The gall!! Sounds just like the Bush cheney invasion of Iraq to me. No reason to do it, other than a big bully trying to push around the little guy. No reason at all no WMD's except the ones in Bush's imagination. He'll be over there looking for them after he retires from his non-office. If I knew these mortgages were unethical, unworkable more than 5 years ago, how could our administration not know it? Please get your head out of your ass, you're beginning to stink up this place. dr. Steve
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24HourForums.com > The Top 10 Supported Forums > 24's Political Matters > Do you think the Government should give $700 billion to the financial industry | ||||||||||||||||||||||||||||||||||||||||
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