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Obama hasn't gotten far enough YET to take the blame squarely. But fear of his policies is driving a lot of the bad stuff happening in the economy right now. Jacking up taxes, more social pork, more government oversight of private industry, printing money with nothing backing it up on and on it goes. By the time he gets done his admnistration will make Carters look like a raving success. You thought a 21% prime was bad...lol just wait a few more months.
That assumes they still want a stock market, but they don't. They want to nationalize the banks, corporations and everything else. The government will own and control the banks, and all business. The government will be the employer of the people. The government will distribute wealth as it sees fit.
Private investment after all requires greed. It's very unfair in the minds of the liberals that some people work hard all their lives, invest and save their money and then believe they are entitled to more than someone who chose not to work, who laid around on welfare. Obama and Pelosi are going to make sure that unfair way of thinking is ended.
I don't know how people can honestly blame Bush for this. The market never dropped 3,000 points in under two months while Bush was President.
Bush went along with that big bailout that Pelosi and Frank pushed through the Senate and Congress, Bush signed it on Oct 3, 2008, and that brought the stock market down considerably. Yes Bush is partly to blame for failing to ever find his veto pen and allow out-of-control spending.
That said, Bush cannot be blamed now because there's not a thing he could do now if he wanted to. Bush cannot stop these bailouts and additional trillions in new debt. He cannot cut government spending, he cannot stop the nationalization of banks and corporations. There's no sense in blaming Bush now, or why would we have someone in the White House? Just save that salary and have no one, and just blame Bush for the rest of our days.
I would love to see the day that DC embraced moderate amounts of oversight, regulation, and fiscal responsiblity. We can't endure these huge swings on the political spectrum to easily I'm afraid. I do belive the days of unfetered and unregulated free market capitalism are over. The financial system needs strong oversight, transparency, and regulation in order for the mortgage, credit, and banking mess to not happen again.
Which is fine IF the agency conducting the oversight has a clue as to what "fiscal responsibility" is. Lol the Federal Government and fiscal responsibility is a contradiction in terms. I agree with transparency, in government as well as private industry. The rampant spending and hiding of it in unrelated legislation has to stop. In this there must be more accountability to the PEOPLE. In order for this to happen the fat cats have to genuinally FEEL the wrath of we the taxpayers. More government power is not the answer, more involvement of the citizenry is certainly a start. The same can be said of private industry. Wasteful and decadent "bonus payments" that cut into the bottom line need to stop, there , the shareholders have the clout to stop such things. It's time that SMART business was put into play.
Which is fine IF the agency conducting the oversight has a clue as to what "fiscal responsibility" is. Lol the Federal Government and fiscal responsibility is a contradiction in terms. I agree with transparency, in government as well as private industry. The rampant spending and hiding of it in unrelated legislation has to stop. In this there must be more accountability to the PEOPLE. In order for this to happen the fat cats have to genuinally FEEL the wrath of we the taxpayers. More government power is not the answer, more involvement of the citizenry is certainly a start. The same can be said of private industry. Wasteful and decadent "bonus payments" that cut into the bottom line need to stop, there , the shareholders have the clout to stop such things. It's time that SMART business was put into play.
What did you think about the cap on executive bonuses? I think many saw this one coming, especially after the Bank CEOs pocketed huge bonuses from the first TARP courtesy of the taxpayer dollars.
What did you think about the cap on executive bonuses? I think many saw this one coming, especially after the Bank CEOs pocketed huge bonuses from the first TARP courtesy of the taxpayer dollars.
Oh, I was LIVID about these "bonuses". Executive salary caps are fine with me. With the money corps are forking out in executive salary and perks they could , instead, be expanding their businesses and puting it back into the company. Isn't that how business is supposed to work anyway? The BILLIONS of dollars spent on suit wearing fat cats to stay in posh accomodations on "business trips" and fat bonuses and perks would be better spent on expanding the company and put into the bottom line. How many folks could be put to work and have GOOD health benefits for the cost of ONE CEO year end "bonus"? I don't care how good these guys are in a boardroom, they are NOT worth that kind of money. There is no need for executives to be living like drug lords. On the flipside , labor unions would have a stonger position and could keep a lot more folks gainfully employed if they had a better relation with the top end. If the top brass is getting their salaries to a reasonable level, the unions can negotiate to get more people hired as the compnay expands rather than implodes and keep wages and benefits rolling. I , personally, feel that hourly wages in many unionized shops are exhorbitant as well.EVERYBODY has to be willing to contribute to the success of a business. Top to bottom it's a two edged sword. Business in this country needs to get back to basics. It's the same for government. Congressional salaries should be frozen at the very least. Those clowns are ALREADY million and billionaires and they don't need fat salaries. The perks they get need to be adressed as well. Fancy hotels with 400 dollar a glass wine over sumptuous 1000 dollar a plate dinners all on taxpayer dime...needs to stop cold! We need total tranparency in governmental spending. They have been getting away with murder. All of them on both sides of the aisle. This fleecing of the American taxpayer must stop and we need to make them feel our displeasure with their brand of "business as usual" . The Federal Government needs a gentle ( or not) reminder of exactly who they work for. Whatever that takes.
Last edited by NVplumber; 03-01-2009 at 03:21 PM..
Reason: Added stuff
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It's the same for government. Congressional salaries should be frozen at the very least. Those clowns are ALREADY million and billionaires and they don't need fat salaries. The perks they get need to be adressed as well. Fancy hotels with 400 dollar a glass wine over sumptuous 1000 dollar a plate dinners all on taxpayer dime...needs to stop cold! We need total tranparency in governmental spending. They have been getting away with murder. All of them on both sides of the aisle. This fleecing of the American taxpayer must stop and we need to make them feel our displeasure with their brand of "business as usual" . The Federal Government needs a gentle ( or not) reminder of exactly who they work for. Whatever that takes.
