Case for nationalizing 'toxic' banks -just let the toxic banks go bankrupt. FDIC will protect the consumer deposits, (Iraq, salaries)
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FDIC will protect the consumer deposits, and the government will then OWN all of the toxic assets, instead of subsidzing the morons that lent the money willy-nilly in the first place. Banks are already packaging the homes at ridiculously low prices, and selling them to cohorts, much as they did during the S&L debacle of a couple decades ago, where the rich got a lot richer buying fire-sale homes. Excutives at those banks should be living in one of the 'tent cities' that they helped create. The government can qualify and sell the homes with FHA loans, to people who can afford to buy them, and just cut out the middle men who cannot properly do their jobs.
Do you think the FDIC has unlimited funds? They are BROKE! If all these banks fail, many people will be out of their money. The only way for the FDIC to increase its fund is by charging the member banks even higher fees which will cause many to fail.
Do you think the FDIC has unlimited funds? They are BROKE! If all these banks fail, many people will be out of their money. The only way for the FDIC to increase its fund is by charging the member banks even higher fees which will cause many to fail.
What do you think the government is doing now? They are still guaranteeing the money, just in addition paying the same multi-million salaries and bonuses to the same corrupt bank employees as well.
Last edited by KRAMERCAT; 03-29-2009 at 10:44 AM..
FDIC will protect the consumer deposits, and the government will then OWN all of the toxic assets, instead of subsidzing the morons that lent the money willy-nilly in the first place. Banks are already packaging the homes at ridiculously low prices, and selling them to cohorts, much as they did during the S&L debacle of a couple decades ago, where the rich got a lot richer buying fire-sale homes. Excutives at those banks should be living in one of the 'tent cities' that they helped create. The government can qualify and sell the homes with FHA loans, to people who can afford to buy them, and just cut out the middle men who cannot properly do their jobs.
I agree let the banks fail. Why should my children pay for the decisions made by a bunch of greedy baby boomers.
I really don't know why you cite 'baby boomers', they are taking the biggest hit right now.
And they deserve to take he biggest hit since they began this terrible economic downturn back in the late 80s. Job outsourcing began on their watch while the Xers were still in high school. You reap what you sow.
And they deserve to take he biggest hit since they began this terrible economic downturn back in the late 80s. Job outsourcing began on their watch while the Xers were still in high school. You reap what you sow.
The 'boomers' were the ones at the forefront of desegregation and opposing the war in Vietnam, on the street taking the beatings and getting gassed. I saw the Xers sitting on their butts playing video games while we spent the last 6 years embroiled in Iraq. The boomers invented the internet, and made the economy the most prosperous in the world. I know plenty of Xers who were heavily involved in real estate and mortgage scams, so your blaming the boomers for your own problems falls flat on it's face.
And they deserve to take he biggest hit since they began this terrible economic downturn back in the late 80s. Job outsourcing began on their watch while the Xers were still in high school. You reap what you sow.
Those CEO's that advocate outsourcing make up but a small percentage of baby boomers. Most baby boomers are losing their jobs to outsourcing.
Way to lump an entire generation by the actions of some CEO's.
Those CEO's that advocate outsourcing make up but a small percentage of baby boomers. Most baby boomers are losing their jobs to outsourcing.
Way to lump an entire generation by the actions of some CEO's.
The 'boomers' were the most influencial generation in American history. It's funny how when you look at the Iraq war protesters, they were mostly greying boomers.
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