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Old 07-23-2009, 04:21 AM
 
12,360 posts, read 7,963,322 times
Reputation: 4092
Default our politicians have sold our country out

U.S. Bailout Costs May Reach $23.7 Trillion, TARP Inspector Says – Bloomberg.com


U.S. taxpayers may be on the hook for as much as $23.7 trillion to bail out financial companies, according to Neil Barofsky, special inspector general for the Treasury’s Troubled Asset Relief Program.

Over and over again, many of us wondered exactly how immense the bail outs really were. If this testimony is correct, it is rapidly approaching the value of the derivative contracts (the capitalized part which is 10% of the size of the monster which is around $550 trillion). As I suspected a year ago, we are the guarantors of the entire losses of the Derivatives Beast. This is because the big 5 banks hold 90% of these contracts and about 90% of Congress and the Presidency.

.

This political control was gained via spending vast sums of money not just on campaign funds but also hiring anyone working inside of the Treasury or Federal Reserve and letting all other workers know there were great rewards if one is cooperative and careful. Also, the noxious ‘paid speeches’ offered to all retired politicians, especially ex-Presidents, means the top bankers have turned all our ‘representatives’ as well as regulators into employees of these businesses.

.

This is why it is hyper-important to clean up these paths of corruption. Foisting the entire mess of the derivatives bets, bets that were unregulated and paralegal, is a crime. Namely, this is TREASON. Destroying our economic future so the top international bankers can recapitalize themselves and protect themselves from derivative bets gone sour: this is a fundamental betrayal of our nation.
(supkis)
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Old 07-23-2009, 08:56 AM
 
1,526 posts, read 2,332,576 times
Reputation: 705
Quote:
Originally Posted by floridasandy View Post
U.S. Bailout Costs May Reach $23.7 Trillion, TARP Inspector Says – Bloomberg.com


U.S. taxpayers may be on the hook for as much as $23.7 trillion to bail out financial companies, according to Neil Barofsky, special inspector general for the Treasury’s Troubled Asset Relief Program.

Over and over again, many of us wondered exactly how immense the bail outs really were. If this testimony is correct, it is rapidly approaching the value of the derivative contracts (the capitalized part which is 10% of the size of the monster which is around $550 trillion). As I suspected a year ago, we are the guarantors of the entire losses of the Derivatives Beast. This is because the big 5 banks hold 90% of these contracts and about 90% of Congress and the Presidency.

.

This political control was gained via spending vast sums of money not just on campaign funds but also hiring anyone working inside of the Treasury or Federal Reserve and letting all other workers know there were great rewards if one is cooperative and careful. Also, the noxious ‘paid speeches’ offered to all retired politicians, especially ex-Presidents, means the top bankers have turned all our ‘representatives’ as well as regulators into employees of these businesses.

.

This is why it is hyper-important to clean up these paths of corruption. Foisting the entire mess of the derivatives bets, bets that were unregulated and paralegal, is a crime. Namely, this is TREASON. Destroying our economic future so the top international bankers can recapitalize themselves and protect themselves from derivative bets gone sour: this is a fundamental betrayal of our nation.
(supkis)
Well now, let's put the blame where it really belongs... on the $$$ that bought the politicians and told them to sell us out.
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Old 07-23-2009, 09:01 AM
 
Location: NY & Fl
10,986 posts, read 7,608,249 times
Reputation: 8958
Quote:
Originally Posted by JMadison View Post
Well now, let's put the blame where it really belongs... on the $$$ that bought the politicians and told them to sell us out.
The 'money' didn't promise to represent us
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Old 07-23-2009, 09:51 AM
 
1,545 posts, read 1,425,821 times
Reputation: 115
Quote:
Originally Posted by old_cold View Post
The 'money' didn't promise to represent us
but apparently this great nation was built solely on the back of capitalism and greed
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Old 07-23-2009, 10:07 AM
Status: "Trying to ignore the false outrage...." (set 28 days ago)
 
2,056 posts, read 1,788,929 times
Reputation: 2102
Quote:
Originally Posted by old_cold View Post
The 'money' didn't promise to represent us

don't you know money = free speech.

like a corporation, lobby group or business leader will give thousands of dollars to a politician and not expect anything back?
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Old 07-23-2009, 10:21 AM
 
1,905 posts, read 1,447,472 times
Reputation: 535
Quote:
Originally Posted by expat007 View Post
but apparently this great nation was built solely on the back of capitalism and greed

Blame someone else for crooked politicians
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Old 07-23-2009, 10:27 AM
 
19,178 posts, read 19,682,458 times
Reputation: 3902
The web of derivatives was built by the energy and creativity of free-market capitalism under the not al all watchful eye of assorted laissez faire regulators. But that's all water over the dam. The question now is how best to manage the mess they have left us. One would like to minimize prospects for further damage while maximizing prospects for eventual recovery. Some may take this to be merely a matter of waving the right Magic Wand. Those with a better developed sense of reality may tend to have a somewhat different view.
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Old 07-23-2009, 11:07 AM
 
3,288 posts, read 2,647,594 times
Reputation: 812
Politicians are doing what the system allows for, you should look at their constituents as well (large businesses that funnel them money to push horrible policies).
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Old 07-23-2009, 12:11 PM
 
4,455 posts, read 2,014,619 times
Reputation: 647
Quote:
Originally Posted by floridasandy View Post
U.S. Bailout Costs May Reach $23.7 Trillion, TARP Inspector Says – Bloomberg.com


U.S. taxpayers may be on the hook for as much as $23.7 trillion to bail out financial companies, according to Neil Barofsky, special inspector general for the Treasury’s Troubled Asset Relief Program.

Over and over again, many of us wondered exactly how immense the bail outs really were. If this testimony is correct, it is rapidly approaching the value of the derivative contracts (the capitalized part which is 10% of the size of the monster which is around $550 trillion). As I suspected a year ago, we are the guarantors of the entire losses of the Derivatives Beast. This is because the big 5 banks hold 90% of these contracts and about 90% of Congress and the Presidency.

.

This political control was gained via spending vast sums of money not just on campaign funds but also hiring anyone working inside of the Treasury or Federal Reserve and letting all other workers know there were great rewards if one is cooperative and careful. Also, the noxious ‘paid speeches’ offered to all retired politicians, especially ex-Presidents, means the top bankers have turned all our ‘representatives’ as well as regulators into employees of these businesses.

.

This is why it is hyper-important to clean up these paths of corruption. Foisting the entire mess of the derivatives bets, bets that were unregulated and paralegal, is a crime. Namely, this is TREASON. Destroying our economic future so the top international bankers can recapitalize themselves and protect themselves from derivative bets gone sour: this is a fundamental betrayal of our nation.
(supkis)
You have just now come to this realization? Country has been sold out going back to the Reagan years....
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Old 07-23-2009, 01:46 PM
 
Location: PA
4,833 posts, read 2,819,209 times
Reputation: 1567
Quote:
Originally Posted by expat007 View Post
but apparently this great nation was built solely on the back of capitalism and greed

Really?
I find that a odd statement.
Power is what builds a nation or destorys it.
If government has limited power, greed and money can't be used to do harm.
If government followed it's design of limited power we wouldn't have these issues.
Also to borrow money and destory the value of peoples purchasing power seems like a unethical thing to do.
In fact if the government followed its limited powers in the constutution and we looking at the role of govenrment it wouldnt create programs like Fannie Mae, Mac which clearly put socialism and big government to the front of the line. This has been going on with our govenrment for a while and back to FDR with the new deal in backing loans, and social programs with power it doesnt have.
The FED and government work together to expand government to drive up debt and interest which you pay in taxes collected via the IRS.
So it seems to me government is always finding new ways to borrow money it doesnt have for wars, and social programs while the America tax payer is screwed and government then tells you they will fix it. How? By borrowing more money they dont have and just completing the cycle.
These is the people we trust?
I trust microsoft to balance a budget and pay its employees before I trust my government to run a lemonade stand.
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