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See, all that bailout money did the banks wonders. They used it for trading on Wall Street and reaped billions in profits which in turn gave them hefty bonuses which they spent as consumers.
More risk loaning to consumers than playing on Wall Street these days.
Sounds like you don't know, but you suggest it anyway. It is called misinformation.
The goal is to make sure companies won't have to be bailed out, and if they take ridiculous risks, then they pay the the price themselves, as opposed to the tax payer. Naturally the Republicans oppose it, even when many of the ideas are their own.
The bill is being discussed in "full Senate" this week.
Its astounding to me that the Republicans are against too big to fail.
The Republican party is a mess. If they oppose this bill and come across looking like friends of Wall St. they will not be successful in November.
Its astounding to me that the Republicans are against too big to fail.
The Republican party is a mess. If they oppose this bill and come across looking like friends of Wall St. they will not be successful in November.
It has the potential of putting a nail in their own coffin. The sad part it that they will decide to vote YES/NO based on which they think will make them look better in November, not based on what they think is better for the country.
It has the potential of putting a nail in their own coffin. The sad part it that they will decide to vote YES/NO based on which they think will make them look better in November, not based on what they think is better for the country.
Its astounding to me that the Republicans are against too big to fail.
The Republican party is a mess. If they oppose this bill and come across looking like friends of Wall St. they will not be successful in November.
WHAT'S MORE ASTOUNDING IS THE REPUBLICANS AND DEMOCRATS WILL NEVER FIGURE OUT THE REAL DEAL
republicans seem to like to under regulate, which leads to theft fraud, abuse
democrats seem to like to over regulate, which leads to a stiffled economy
I am pretty sure the Dems are for this bill because it is their bill.
Quite right, and the Repubs are against it because it's a Dem bill. Nothing new there, that is the crux of the situation, content has very little to do with the opposition to the bill.
The goal is not to limit risk, but to make the companies to deal with the risk themselves as opposed to the tax payer.
Thats not what'll happen.. It'll encourage them to make greater risks to pay the fees, and if/when they fail, the taxpayers will STILL be picking up the tab. The proposal is to increase banking fees and give the federal government an avenue to take over these companies. Have you even reviewed the plan?
Quote:
Originally Posted by Finn_Jarber
It's amazing how people get more careful when they know big brother will not rush to their aid.
There was no expectation that the government would bail out GM, AIG, LEHMQ, GS etc so your argument fails. They indeed were not even close to careful, or did you miss the fact that many of them were involvent and almost bankrupt.
Quote:
Originally Posted by Finn_Jarber
I have no clue what you mean by the "by you own admission", but it sounds like you are gearing up for your usual "disagree for the sake of disagreeing" cycle. If that is the case, the converstaion is over.
you are admitting the goal isnt to limit risks, right?
Quote:
Originally Posted by Finn_Jarber
PS It is not my bill, and I am not here to defend the bill, but from the sounds of it there is plenty of republicans who will support it because there are many ideas in there that both sides agree on.
You are proclaiming the taxpayers wont be liable, while ignoring that the bill includes sections turning the banks over to the government. It does NOT limit risk due to no governmental bailouts, it helps to facilitate and encourage risks. You indeed are defending the bill while not understanding the full ramifications of it.
It has the potential of putting a nail in their own coffin. The sad part it that they will decide to vote YES/NO based on which they think will make them look better in November, not based on what they think is better for the country.
Since the bill will most likely be popular based upon the publics ignorance, I think your argument failed. It would be popular to vote yes, not no..
Quote:
Originally Posted by florida.bob
Quite right, and the Repubs are against it because it's a Dem bill. Nothing new there, that is the crux of the situation, content has very little to do with the opposition to the bill.
I prefer to let them fail, but it seems you support government bailouts and a take over of banks. Since thats what Bush did, whats the problem?
You are proclaiming the taxpayers wont be liable, while ignoring that the bill includes sections turning the banks over to the government.
Would you mind quoting those parts of the bill here so we can review them?
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