Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 09-30-2008, 06:57 AM
 
Location: Nogal, NM
28 posts, read 86,430 times
Reputation: 18

Advertisements

The Democratic Party beats the drum about how they intend to make the rich pay more to support this country and take the tax burden off the lower classes. So! What is the intention of the Bail Out for Wall Street and other Fortune 500 companies such as the Automobile Mfgs????

Contact your Congressman and Senator. Advise them of what you expect from government.
We do not expect Socialism. We expect and want to see Free Markets. Let the Free Market system work. No bail out now or ever.

Ask them why we do not see criminal charges against the fraudulent managers of Fannie Mae and Freddie Mac. What about the oversight responsibility and fraud attributed to the Democrats?


http://www.house.gov/
http://www.senate.gov/


"We are now in the golden age of thieves. And where I come from we put thieves in jail, we don't bail them out." — Rep. Pete Visclosky, Democrat.
Reply With Quote Quick reply to this message

 
Old 09-30-2008, 08:11 AM
 
Location: Santa Fe, New Mexico
3,011 posts, read 10,010,465 times
Reputation: 1170
This is a general political topic and as such, belongs in the Politics Forum.

I am going to move it there.
Reply With Quote Quick reply to this message
 
Old 09-30-2008, 09:40 AM
 
Location: Nogal, NM
28 posts, read 86,430 times
Reputation: 18
Default Bail Out Who?

[SIZE=3]http://www.cnn.com/2008/POLITICS/09/29/miron.bailout/index.html?iref=mpstoryview[/SIZE]
[SIZE=3] [/SIZE]
[SIZE=3]The obvious alternative to a bailout is letting troubled financial institutions declare bankruptcy. Bankruptcy means that shareholders typically get wiped out and the creditors own the company. Bankruptcy does not mean the company disappears; it is just owned by someone new (as has occurred with several airlines). Bankruptcy punishes those who took excessive risks while preserving those aspects of a businesses that remain profitable.[/SIZE]
[SIZE=3]In contrast, a bailout transfers enormous wealth from taxpayers to those who knowingly engaged in risky subprime lending. Thus, the bailout encourages companies to take large, imprudent risks and count on getting bailed out by government. This "moral hazard" generates enormous distortions in an economy's allocation of its financial resources.[/SIZE]
Reply With Quote Quick reply to this message
 
Old 09-30-2008, 09:53 AM
 
594 posts, read 1,042,733 times
Reputation: 311
Quote:
Originally Posted by abasicservice View Post
a bailout transfers enormous wealth from taxpayers to those who knowingly engaged in risky subprime lending. Thus, the bailout encourages companies to take large, imprudent risks and count on getting bailed out by government.
False. Those who engaged in subprime lending dumped those mortgages long ago.
Reply With Quote Quick reply to this message
 
Old 09-30-2008, 10:20 AM
 
Location: Londonderry, NH
41,478 posts, read 59,660,138 times
Reputation: 24860
My congressman voted against this bill. She is a Democrat.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Similar Threads

All times are GMT -6. The time now is 05:38 PM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top