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Originally Posted by PacificFlights Ahh, but that's the beauty of this. Those who are against the bailout have a bailout to complain about. They never have to answer the question of what would things be like if there was no bailout?
True.
They could look it up and figure it out, but that's not as comfortable as complaining.
Please become informed instead of making baseless comments. It is rather embarrassing to read how uninformed people are.
Look back at history and see all the problems government causes when it manipulates the economy. Oh butthis time they'll get it right, Is that the blind dog will eventually find a bone theory?
The people, through their purchasing power, will tell you which businesses will continue. Instead we have some people who think THEY are the ones who can wave a magic wand and pick and choose which companies or industries(buddies) they feel are deserving. No need for personal responsibility because we have other peoples money to get out of the mess. Immoral to the core those people are.
Unfortantly Lehman Brothers was allowed to fall and was not bailed out as other banks where and that was one of the biggest misstake the Bush administration made.
You won't get a disagreement from me or from most economist either.
Please become informed instead of making baseless comments. It is rather embarrassing to read how uninformed people are.
Look back at history and see all the problems government causes when it manipulates the economy. Oh butthis time they'll get it right, Is that the blind dog will eventually find a bone theory?
The people, through their purchasing power, will tell you which businesses will continue. Instead we have some people who think THEY are the ones who can wave a magic wand and pick and choose which companies or industries(buddies) they feel are deserving. No need for personal responsibility because we have other peoples money to get out of the mess. Immoral to the core those people are.
Don't bother to look up the reasons why this decision was made. Just keep spouting silly catchphrases untethered to reality, like some sort of spamming zombie computer.
Lets put this in economic terms.
Debit = 14 trillion.
Government bailed out banks which were tied to auto loans, housing and poor banking practices.
Housing crisis was a failure of Freddie Mac and Mae which allowed banks to get free money and no consequence low income and suspect loans backed with tax dollars promised by government.
Government created mal-investment banks had nothing to lose and sold off suspect loans.
Government should not have problems designed to give people homes with no jobs, money and use tax dollars to do it.
The bailout did not bailout the banks it bailed out the government promises to all the banks that whatever they did and whatever they did in the name of socialism would be protected by government.
Lesson learned should be government gave us this economic crisis with a printing press for banks to give loans to people not qualified! How do you think the 14 trillion will be paid back? Magic?
They are only delaying what will come they have not fixed anything.
It's like paying your credit with another credit card only problem is soon the credit cards will all be maxed.
Then what?
Liquidate the bad assests and homes offer them cheap in the market, government should have never offered free money at the tax payer expense and thing would have been over in 1 year.
We have just delayed the pain.
PS the FED which is several banks print the money? The FED is made up of several of the banks who were bailed out.
How can you bailout yourself? Seems like a simple question only they print the money, charge us interest and then make us pay taxes so they can give us our money at a interest rate which isnt even real.
Let the banks fail, let good banks who weren't involved in the issues buy out the other banks and your checking accounts and saving etc are all in place.
I suppose it is just coinsadence that the numbers are being grossly recalculated just before the election. But then I am just a sinic at heart. Just for fun lets look at the real bail out numbers.
Issuer
Commercial Paper Funding Facility
Federal Reserve
$1,800 billion
Temporary Liquidity Guarantee Program
FDIC
$1,400 billion
Term Asset-Backed Securities
Loan Facility (TALF)
Federal Reserve
$1,000 billion
Term Auction Facility (TAF)
Federal Reserve
$900 billion
Fannie Mae (NYSE: FNM), Freddie Mac (NYSE: FRE), and Ginnie Mae
U.S. Treasury / Federal Reserve
$800 billion
Obama Stimulus Plan
U.S. Treasury
$787 billion
Treasury Asset Relief Program (TARP)
U.S. Treasury
$700 billion
Total USD international currency swap lines
Federal Reserve
$688 billion
Money Market Investor Funding Facility
Federal Reserve
$540 billion
Citigroup (NYSE: C) Guarantee
U.S. Treasury / FDIC
$306 billion
Hope for Homeowners Act of 2008
U.S. Treasury
$304 billion
Term Securities Lending Facility (TSLF)
Federal Reserve
$225 billion
Economic Stimulus Act of 2008
U.S. Treasury
$168 billion
Other loans: Primary Dealer Credit, etc.*
Federal Reserve
$142.9 billion
Paid to JPMorgan Chase (NYSE: JPM)
to settle Lehman debt
Federal Reserve
$138 billion
Bank of America (NYSE: BAC) Guarantee
U.S. Treasury / FDIC
$118 billion
AIG (NYSE: AIG) Bailout
Federal Reserve
$112.5 billion
Bear Stearns brokered sale
Federal Reserve
$25.9 billion
I'm afraid to look …
Total:
$10,155,300,000,000
Please become informed instead of making baseless comments. It is rather embarrassing to read how uninformed people are.
Look back at history and see all the problems government causes when it manipulates the economy. Oh butthis time they'll get it right, Is that the blind dog will eventually find a bone theory?
The people, through their purchasing power, will tell you which businesses will continue. Instead we have some people who think THEY are the ones who can wave a magic wand and pick and choose which companies or industries(buddies) they feel are deserving. No need for personal responsibility because we have other peoples money to get out of the mess. Immoral to the core those people are.
Maybe. But the bank bailouts in particular absolutely needed to happen, or we would be in a much worse place today than we already are.
Maybe. But the bank bailouts in particular absolutely needed to happen, or we would be in a much worse place today than we already are.
When the *** is finally up, the situation you will find yourself in will be much worse than the the situation you would have been in. The old"Today is the tomorrow you worried about yesterday."
Bush and Obama both took the FDR route which dragged the depression on for years, returned the wealth of the country to the power elite and created the soup lines of the 30s. It's a terrible boom and bust cycle, and we are starting another bust after the boom, only this time, there is nothing forecast to boom out of this one, the debt is too large and owed to too many.
Who said it was like making credit card payments with another card? You were spot on!
Banks, and ALL businesses involved should have been allowed to fail. Just because they fail doesn't mean that those businesses would be forever gone. Somebody would bring it back, better managed and hopefully more ethical, and the market would decide winners and losers, not government.
Maybe. But the bank bailouts in particular absolutely needed to happen, or we would be in a much worse place today than we already are.
Who is "we"? Is it the 15 million people who lost their jobs? Or the 7 million who are behind on their mortgage and will no doubt loose their homes? Or the 40 million on food stamps? Or the future generations who will be stuck with 15 trillion in debts?
Or is it the bankers who were bailed out and gave themselves multi million dollar bonuses for causing the whole disaster to begin with?
Or Wall St who has been using computer generated algorithms to manipulate the stock market and make billions for themselves using taxpayer money?
Or the multi national corporations who have closed down their US operations and exported them overseas along with peoples jobs that are never coming back, in order to make higher profits.
"We" are not all the same "we". Some profited at the expense of others.
I know one Democrat who won't be using that in his ads-----Collin Peterson( D-MN)
about bailout bills he stated" I voted no the first time. When they added pork to get more votes I voted---hell no "
Peterson is a blue dog Democrat who will win his district easily.
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