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Old 10-05-2010, 10:46 AM
 
4,693 posts, read 5,232,303 times
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Quote:
Originally Posted by JazzyTallGuy View Post
The bailouts where necessary to avoid a global economic meltown. If you don't think they were you were not close enough to the situation to realize what was going on. In October 2008 there was an absolute global PANIC in the financial markets.
The global financial elite brainwashed the population that the world would come to an end as a tool in order to get their huge bailouts. They took bad risks on housing and other investments. They would have enjoyed the profit. Instead they socialized their mega losses straight from middle class tax payers back into their pockets. The greatest transfer of wealth ever and the Democrats were all behind this massive trickle up. It's ironic as you can get considering Dems always bash "the rich".

BTW. this thing is not over. There is much more financial pain to come (especially in the housing market).The bail outs just kicked the can down the road a couple of years.
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Old 10-05-2010, 10:36 PM
 
33,415 posts, read 30,711,119 times
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Quote:
Originally Posted by Jay F View Post
The global financial elite brainwashed the population that the world would come to an end as a tool in order to get their huge bailouts. They took bad risks on housing and other investments. They would have enjoyed the profit. Instead they socialized their mega losses straight from middle class tax payers back into their pockets. The greatest transfer of wealth ever and the Democrats were all behind this massive trickle up. It's ironic as you can get considering Dems always bash "the rich".

BTW. this thing is not over. There is much more financial pain to come (especially in the housing market).The bail outs just kicked the can down the road a couple of years.
and in recent years the democrats are the biggest recipients of donations from big business as well.

as for more pain coming down the pike, you are quite correct. the housing market is still not at bottom, and the mortgage lenders are stopping foreclosures for now on legality reasons, but that will be sorted out one way or another, and they will either start up again, or the banks are going to take a big loss, again tightening up the credit markets. and then the commercial real estate market is on the verge of collapse as well, and that will make the housing market collapse seem like a minor bump in the road.

and with all the new financial and health care regulations coming online next year, and all the new taxes as well, health insurance premiums are going to go way up again, and that will cause more people to lose their jobs or their health insurance because business is going to have to cut expenses to keep operating.

next year is going to be very interesting if the new congress doesnt handle the problems early on.
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Old 10-19-2010, 10:39 PM
 
11,943 posts, read 13,774,758 times
Reputation: 2772
Quote:
Originally Posted by Jay F View Post
The Financial sector got a license to steal due to the bailouts. It's ironic that the Dems say they are for the middle class. The bailouts they support transfered billions straight from the middle class to the financial elite. I strongly disagree that the bailouts were necessary. We should have let the market correct itself. There would have been more short term pain but we would be better off today. One of the reasons I am voting for Angle is that I know she'll vote against bailouts.
That license to steal was issued decades ago with the advent of ham handed deregulation. Once the 5 trillion car pile up is done you cannot stand here blaming the car. Sorry. Everything about the neocon economic plan was transfer of wealth from middle class to financial elite by design. Trickle down is a joke. Statistics bear that out. It's downright nutsville that any politician would insist more of the hair from that dog as remedy. The people those tax breaks should have been helping out were small biz expansion, but instead (just like farm subsidy), the big fish ate everything for itself.

You strongly disagree that bailouts were necessary... really? Who controls US currency? Do you really believe it's the treasury? What do you feel the fallout of stock market crash would have been if not for intervention?

I don't live in NV and have no plans to ever live there. Vote your conscience, of course, but don't you find it ridiculous that outsiders that don't have to live with consequences should be influencing your local elections? Food for thought because here in WV I don't care one whit for the garbage dump they brought.
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Old 10-20-2010, 12:07 AM
 
11,943 posts, read 13,774,758 times
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Quote:
Originally Posted by OhioIstheBest View Post
LOLs. Where did you get that idea? George W. Bush.
I can't get an idea from someone void of gray matter. America has a better chance of getting a beer from him.

Quote:
Originally Posted by OhioIstheBest View Post
There were plenty of banks in this country that were just fine. They were in great shape throughout all of this. The vast majority of banks in this country didn't need any bailout.

If money stopping is what causes economic problems then we could just pass a law saying everyone must spend X amount of dollars per day. That would ensure money is always flowing.
Making wild claims obliges you to provide documentation.

Plenty of banks you're likely referencing were too small. Go back to archives and note how much pressure was put to JP Chase to buy up WAMU... the market was not able to correct itself without straining it's own finances in spring prior when Bear sterns failed. Too big to fail shouldn't be in our vocabulary but there it is just the same. Credit unions (and a few select banks) were impervious because their bylaws prohibited them from partaking. Good for them, and good thing they didn't bother with TARP. The dividends for taxpayers are 5% from every outstanding TARP loan. It's not (and never was) free lunch.
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Old 10-20-2010, 12:11 AM
 
11,943 posts, read 13,774,758 times
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Quote:
Originally Posted by rbohm View Post
if you really think that there will be no more bailouts in the future, you are sadly mistaken because the financial reform law contains provisions for more bailouts if the federal government determines that they are needed.
Financial reform law say anything about too big to fail???
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Old 10-20-2010, 01:50 PM
 
3,566 posts, read 3,498,916 times
Reputation: 1364
Quote:
Originally Posted by sickofnyc View Post
Political Wisdom: The Sharron Angle Tape

The conversation reveals Angle almost desperate to show Ashjian they are like-minded, that they both disdain the major parties, but insistent that the Tea Party of Nevada contender could help Reid win if he doesn’t embrace her candidacy. Ashjian emphasizes he believes a third party is the only way and that he believes he can garner a fifth of the vote, which seems fantastically optimistic, to put it mildly.

Political Wisdom: The Sharron Angle Tape - Capital Journal - WSJ

Angle’s words may not have an immediate political impact, but they show what a profound challenge she and a handful of other Senate candidates pose to the Republican leadership, should they win. Angle’s view of herself is clearly of an insurgent, a subversive force within the GOP.

“We need to work from within,” she tells Ashjian. “And we have We’ve actually taken over the Washoe County Republican Party.”
Foot-in-mouth-disease did not stop Joe Biden from reaching the vice-presidency
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Old 10-20-2010, 02:06 PM
 
33,415 posts, read 30,711,119 times
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Quote:
Originally Posted by harborlady View Post
Financial reform law say anything about too big to fail???
actually yes it does. it allows the federal government to take over a financial business if it is deemed to big to fail, and is in financial trouble. and it isnt just financial businesses as well, it can be ANY business.
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