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Yes, the package came with lots of loopholes, as well as lots of pork. Vocal opponents of the bailout pretty much expected exactly what's happening-- that's why they opposed it.
Obama doesn't have the silver bullet and neither did McCain. Both would have done exactly what's already been done-- bailout, stimulus, more stimulus, unemployment comp, more unemployment comp, loan mods, free refis, tax forgiveness, express bankruptcy, drop interest rates, drop rates more, yada yada yada. How far has it gotten us? How far will doing more of the same get us? The difference is, Obama will throw a lot more taxpayer dollars at the problem and socialize the losses. And the losses will continue, because endless enabling will only prolong the amount of time it takes to let the air out of the overinflated balloon our financial system has become.
Emails, phone calls didn't work. You're right. They voted yay anyway. Would it have helped if millions of people took to the streets in a peaceful protest? Would it have mattered if millions of people marched on Capitol Hill? It's pretty easy to click and delete an email or take an angry phone call and be done with it. It's much harder to ignore the voices when they're there..strength in numbers, peacefully, of course. Do you think it would have made a difference? Do you think the gubmint is thinking "yeah...they'll gripe and moan but in the end nothing will happen and we'll get our way and they'll hope for the best" I mean...there's no real grass roots protest to this stuff. We're just b*tching about it on forums and wringing our hands. I'm just as guilty as the next person for this, but I'm just putting this out there for consideration. I'm just sayin....Or would we have to worry about armed men in black suits and hovering helos?
Emails, phone calls didn't work. You're right. They voted yay anyway. Would it have helped if millions of people took to the streets in a peaceful protest? Would it have mattered if millions of people marched on Capitol Hill? It's pretty easy to click and delete an email or take an angry phone call and be done with it. It's much harder to ignore the voices when they're there..strength in numbers, peacefully, of course. Do you think it would have made a difference? Do you think the gubmint is thinking "yeah...they'll gripe and moan but in the end nothing will happen and we'll get our way and they'll hope for the best" I mean...there's no real grass roots protest to this stuff. We're just b*tching about it on forums and wringing our hands. I'm just as guilty as the next person for this, but I'm just putting this out there for consideration. I'm just sayin....Or would we have to worry about armed men in black suits and hovering helos?
That's not what the founding fathers of this country did and not what those that came here and fought for what it represented did either !
NOBODY in AMERICA today has the guts to do what they did collectively. When the Gov flexes its muscles when anyone dares challenge them, everyone involved fans out like scared rats for cover 99.99999% of the time. We will all sit back and do what the Gov says and continue to do nothing but b*tch about it. It has become the American way !
That's not what the founding fathers of this country did and not what those that came here and fought for what it represented did either !
NOBODY in AMERICA today has the guts to do what they did collectively. When the Gov flexes its muscles when anyone dares challenge them, everyone involved fans out like scared rats for cover 99.99999% of the time. We will all sit back and do what the Gov says and continue to do nothing but b*tch about it. It has become the American way !
The Great USSA !
I think that's what I was getting at. The shift of power from what the founding fathers intended has been so drastic that unless people take the power back, we'll continue to get more of the same. And the gubmint knows that the "voice" of the people is limited to elections every 2-4 years and phone calls and emails. Things that are easily washed over. We've let things get out of hand. Now if you challenge, people fear those black suited men and black helocopters. The burden of everything: of proof if the IRS says you're in arrears, of anything, is on the people. That isn't Govt working for the people. That's people working for the Govt. And handouts, bailiouts, etc also isn't the gubmint working for people....it is again, the taxpayer, working for the gubmint and the bad business owners and CEOs who chose to run their operations on the DL, at the expense others. When are people going to get mad enough and "get it?" When they're scrapping over a loaf of bread?
The Freedom of Information Act does not apply to private entities. The Federal Reserve is NOT "federal", which most of you posting here know. They can put anything on their balance sheets that they wish, and don't have to answer to anybody for it. Granted, they have a lot of worthless trash that they took over from the banks. But the Fed was the perfect entity to do this, as they do not have to open their books to the public, as real 'federal' agencies do. They are a private bank.
Okay, since we (the US government) own citigroup now, do we get to see what's on the books? And who sits on the board of directors? Being the largest share holder, don't we get a seat? Just asking, I always thought the largest share holder got a seat on the board.
I don't clearly understand it but in the last senate hearing Dood who had mentioned takihng over Citi in the prior meeting was very care to say that he was not in favor of taling over Citi.We all saw the financials drop because a take over would mean the common shares went to zero value basically. The other banks would ahve people pulling out quickly. Apparently the Citi franchise is worth alot as they are into alotmroe tahn banking and this would be effected.SAs to the assweets no one knows and ferom what i understand theywant a curent plan on what they are going to dop weith tehassets when they value them as its a job they don't want to repeat.once the assets are value then either the govern,mant does the bad bank thing or they bid on the dollar and others can out bid the government.If we had a panic on the banks you can kiss the economy good by from what I gathered at a time when at least the banks are not droping to zero. Small banks are no problem because of the huge difference in size.A touchy situation from what I could tell that was very dangerous in October to a economic collapse.90% of people could kiss their jobs goodbye like the depression and values that have loss 50% could drop alot more with some being zero.Likely the government would close the banks to prevent a run also as done in the depression.
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