Why government programs do not work

[HappyTexan]

Originally Posted by LeavingMA

Not only that but the fact that the government actually owns property is scary enough...and to be renting them to people is completely wrong. And just wait when those people can't pay their rent. Or even if they can buy the property back after renting for awhile, between the waste of taxpayer money and the fact these people will still be living in a property where they owe more than its worth is disgusting.

Americans are property owners and landlords too ?

Ok, when you do think the Fed/Treasury will buy "Boardwalk and Park Place" ?

[jimhcom]

Originally Posted by PeteyNice

I am confused. Which government program failed here? The FDIC is not a government program.

FDIC: Who is the FDIC?

Yes it is.

[GregW]

I'm willing to let the government speculate in failed housing. When these places eventually sell the government (us) should make a handsome profit.

I believe the government should have let the overextended banks and financial houses fail and then bought up the assets at a penny on the dollar. Then we could have financed the government out of profits instead of regressive taxes. Just think of the money that would be returned to the stockholders (us) by paying the CEO a GS-16 wage instead of millions in salary and bonuses.

[floridasandy]

Originally Posted by GregW

I'm willing to let the government speculate in failed housing. When these places eventually sell the government (us) should make a handsome profit.

I believe the government should have let the overextended banks and financial houses fail and then bought up the assets at a penny on the dollar. Then we could have financed the government out of profits instead of regressive taxes. Just think of the money that would be returned to the stockholders (us) by paying the CEO a GS-16 wage instead of millions in salary and bonuses.

i certainly am not! we have been hearing about "profits" ever since the bailouts started. so far GM, chrysler, and CIT group have all gone into bankruptcy anyway, costing taxpayers billions of dollars. the banks are just hiding their losses by sitting on distressed properties. this leads to further losses! this is why we have rising bank failures and an insolvent FDIC. there are no profits! the government is just digging taxpayers a deeper hole. we still have rising unemployment and falling hours / wages. how could that possibly translate into successful speculation?

if you think the government is going to rein in wall street corruption, think again:

(bloomberg)With bailout money putting restrictions on what it can pay out in bonuses, Citigroup Inc. (NYSE:C) is reportedly poised to raise salaries as much as 50%.

An unnamed source familiar with the plan tells Bloomberg that the bank will offset the reduction in annual bonuses with the increases in base pay. Investment bankers and traders will command the largest raises, while employees in consumer banking, credit cards, legal and risk management will see smaller salary adjustments. The bank will also award stock options to help retain employees.

Still being propped up by $45 billion in capital from the Troubled Asset Relief Program, Citi finds itself getting creative as it deals with caps on what it can dole out to employees in bonus money. The restrictions puts it at a distinct disadvantage to competitors like Goldman Sachs Group Inc. (NYSE:GS) or J.P. Morgan Chase & Co. (NYSE:JPM) who have repaid government money. Goldman in fact has seen profits surge so much over the first two quarters that it is positioned to PAY OUT THE LARGEST BONUS POOL IN THE FIRM'S 140 YEAR HISTORY.

by the way, a couple more banks just got closed:
http://money.aol.com/article/regulat...319?v=aolrssdf

[tallrick]

Originally Posted by GregW

I'm willing to let the government speculate in failed housing. When these places eventually sell the government (us) should make a handsome profit.

I believe the government should have let the overextended banks and financial houses fail and then bought up the assets at a penny on the dollar. Then we could have financed the government out of profits instead of regressive taxes. Just think of the money that would be returned to the stockholders (us) by paying the CEO a GS-16 wage instead of millions in salary and bonuses.

Yes but if this happened the useless parasites at the top would not be getting huge bonuses. They run the government so you know that the economy will be destroyed to give them a hefty profit.