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Old 03-07-2010, 12:50 AM
Location: H-town, TX.
3,503 posts, read 6,343,865 times
Reputation: 2232


Originally Posted by plaidmom View Post
I am all about personal responsibility.

But it has to, absolutely must start at the TOP.

Remember "trickle down"?

Personal responsibily is the CEO who will step up to the plate and renounce his bonus or pay increase this year in order to save 10, or 20 or 200 "regular" jobs.

Personal Responibility is the Banking/Wall Street Exec who will take his bonus this year and pay off or pay down a few of the "bad" mortgages his firm wrote during the bubble to keep a few American families in their homes.

Personal Responsibility is the Health Insurance Exec who will take a pay cut this year to make sure that insurance premiums remain affordable for all Americans.

Personal Responsibility is the American consumer who vows to at least try to buy products made in the U.S, of A. Yes, even if they cost more.

Some of us are still waiting to see if any of the Big Girls and Boys have the balls to do the responsible thing.

I love the premise of the post, but crossing your fingers and wishing upon a start that all of that happens is pointless.

1. Most CEO's don't make near enough to save 200 jobs. I know, I know, there's the occasional CEO with the golden parachute that the media trumpets day and night about, but they are not the majority of CEOs. Technically, I was a CEO once. I guarantee you I did not make that kind of cash.

2. How about not taking a sub-prime loan in the first place? Most people who had business buying a home aren't in that boat. Once upon a time when I was a pizza guy and delivered to a couple of new cookie cutter neighborhoods, my coworkers and I noticed a bunch of new multi-story brick homes with the shiny luxo SUV and sedan in the driveway. We wondered where all that money was coming from if they couldn't tip the pizza guy/gal. Oh, it wasn't. Forclosure signs came out all over the place soon enough. Personal responsibility, eh?

3. Don't live beyond your means and have that insurance money put away? My mom and stepdad have insurance that costs $10,000/year. She works for $12/hour and he gets by on disability and SSI now. The house is paid off. While I am simplifying this a tad, if they can do this on slim pickings...why can't everyone else??? The house is paid off, too!

4. That's a good one. Don't buy a Chevy Aveo then. Even if it the the only new car you can afford. Or even that Chevy Cruse. That tooling was imported from Korea just like the Aveo itself was and you know that could not have been engineered here in the States.

I thought Reagan's trickle down idea got laughed at all the time now. Funny how it is supposed to be the cure for everything now.

I guess if it's okay for the allegedly disadvantaged to wait on everyone else, will feminist groups start telling women to put off raises and promotions until males in the workplace decide to volunteer them over? I doubt that would fly. YOU want something done, do it yourself.

Victim card, FTL.
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Old 03-07-2010, 04:28 AM
12,869 posts, read 13,682,363 times
Reputation: 4453
i certainly don't see plaidmom playing the victim card. she is simply stating the obvious, which is that we are all going to be paying more in taxes now due to the bank bailouts and the bad wall street gambling, and it is high time that the people that made the bad decisions have to pay the same PROPORTION of their income for the losses. instead, they are being REWARDED for their bad decision making with the highest bonuses ever.

i don't agree with plaidmom on anyone paying off someone else's mortgage, as people need to be responsible for the consequences of the decisions that they CHOOSE to make.

if both the banks and the subprime borrowers behaved badly, they BOTH need to suffer the consequences of bad decision making and frankly neither one is, and the responsible people are being asked to take the hit for both groups of bad decision makers. they are now being asked to continue paying full price for their own mortgages while people with no money down get loan modifications, thereby lowering the value of everyone's property. it winds up being a subsidy for bad decision making and those who own their homes outright are going to see the values of their properties fall.

since we are all in this "together" it might be time to look at which group is being asked to make the "sacrifices". i see that icelandic citizens said "no" to being asked to shoulder the losses for their banks, and many responsible people (on both sides) are being swept up in this entire mess. this is what you can expect when you allow an international banking cartel to control the money supply.
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Old 03-07-2010, 05:01 AM
12,869 posts, read 13,682,363 times
Reputation: 4453
let me add to this that we are also expected to pay for bank balance sheet fraud as well:
All You Need To Know About Bank Balance-Sheet Fraud - The Market Ticker

this is seriously messed up.
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Old 03-07-2010, 10:48 PM
48,508 posts, read 88,455,406 times
Reputation: 18187
What about identifing and asking those that gopt stilulus funds to pay them back;theat will be 758 billion. Then those who got the second 350 billion form TARP. We should treat them the same as banks and make them payIMO. Many of the banks have already paid back their loans.Hit the rest;its all acoounted for.We could even put a tax on income if you receive more unemployemnt than was paid foronce you got a job.Make it all loans and let unemployemnt be interest free to individuals once they got a job.
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Old 03-08-2010, 06:16 AM
12,869 posts, read 13,682,363 times
Reputation: 4453
this story is exactly why we are NOT in a recovery:

Awilda Mercado is thankful that the emergency loan program in Pennsylvania continues to serve the state's residents. In 2008 she lost her factory position and her husband had an on-the-job accident that left him unable to work. To help her stay in her York, Penn., home, the agency took care of her arrears of $7,386 and paid four months of her mortgage.

Now that she's receiving unemployment and her husband is on disability, the Mercados have been able to resume their mortgage payments. They also are reimbursing the housing agency, often sending in more than the $25 minimum payment.

"They helped me not only save my home, but got me back on my feet," said Mercado, 52, who has three grown children.

she is on unemployment and her husband is on disability and they call that back on their feet!

freaking ridiculous! this is one ugly recovery.
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Old 03-08-2010, 01:14 PM
Location: Denver, Colorado U.S.A.
14,174 posts, read 24,534,892 times
Reputation: 10428
Originally Posted by Randomdude View Post
Do you understand the concept of living wage? Basically it is the wage needed to achieve a minimum standard of living in a particuliar area. Do you even have a comprehension of how many people are below this figure? Save money....they arent even making enough money to survive spending over 100% of their income.

Or, what about the people who are just treading water, who save every dime, and then they get laid off, and figure out, their life time savings was enough to carry them maybe 6 months.....so, what exactly do they do after they cant find a job paying living wage after that point?

You cant possibly be naive enough to believe that everybody is making enough to put away a comfy nest egg.
Very true. I was laid off 9 months ago and have been collecting UI since then. I'm almost through all my savings, and my only debts are food, things for basic living, car insurance, half the mortgage and utilities - zero credit card debt. Next up, I start taking out of my 401K if I don't find a job within 4 months. Not many people could afford to have enough savings to live for over a year with no work! And I've never had any problem finding employment in the past... this time is different. Although I've had a couple bites lately. Maybe things are getting better.
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Old 03-08-2010, 01:45 PM
Location: USA
3,966 posts, read 9,821,417 times
Reputation: 2216
Originally Posted by charolastra00 View Post
A lot of people can;t find ONE minimum wage, much less two.
Thats me! thats me! I applied at mcdonnalds, church's chicken, and petsmart. I put down i'll accept minimum wage. Nothing. Don't bother calling me lazy when i say this, I don't want to apply at a gas station. I am too scared of being shot by the many idiots out there.

Though today I am apply for a call center, ugh, that I know may hire me. Maybe that will finally lead me to my insanity.
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Old 03-08-2010, 01:58 PM
5,969 posts, read 8,257,118 times
Reputation: 1614

YouTube - Corpocracy: The Outsourcing of America - Trailer 1
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Old 03-08-2010, 05:25 PM
Location: Wherabouts Unknown!
7,794 posts, read 17,550,759 times
Reputation: 9424
aliveandwellinSA wrote:
Try what a lot of people have done. If it requires it find two minimum wage jobs. Don't buy cars or houses you cannot afford. Save what you can for a rainy day. It can be done, you just have to want it.
The not buying unaffordable houses and cars is something that a person has control of, but you gotta be able to find those two minimum wage jobs that you mention. It takes more than just having to want it. If the jobs are not available, it really doesn't matter how much you want it.
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Old 03-09-2010, 01:34 PM
15,755 posts, read 28,078,124 times
Reputation: 27038
A lot of people, if they were prudent and able in the first place, had savings and/or retirement funds. They have now gone through said funds for basic living and long-term unemployment. I personally know a few of thse prudent folks- one is 57, the other 47. The younger man is starting over (having finally gotten a good job) and the 57-year-old is still working the weekend job he has held through years of working M-F in a regular job, and two layoffs in four years. Supporting disabled wife (stroke).
I agree that if people start out in a weak position, it takes a lot less to flatten them. But many people did all the "right" things, but long unemployment just can't be managed by most people.
And if they do manage by going through all assets, they are absolutely vulnerable to any future layoffs or difficulties, never mind older age.
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