A Sad day for America

[WillowTree]

who's they, honey? you're the one complainin that the rich people are going to leave the country. It's pretty clear you aren't one of them.

I'm just going by how ignorant you sound... Me? I've done very well for myself, thanks.

I'm not complaining that they might leave, if you weren't so frickin ignorant you would have picked up on that, when they leave you can eas shit and die.

 

[Jon]

certainly a big part of it. and yes, they kept re-financing til they took all their equity out of the property and then the prices dropped. no question.

but what about predatory lending practices and corporations that totally ignored their responsibility to do risk assessment... and greedy shareholders and incompetent CEO's who took golden parachutes ...

either way, as was pointed out, the banks were too big to fail. not allowing that again would probably be a good thing.

But blaming the most powerless among all of those responsible doesn't make a lot of sense.

Why coddle the ignorant? If they didn't realize what they were getting themselves into, they should have asked the advice of someone who would have told them about the risks.

Yes, the lenders are at fault. But they can't lend to people who don't accept the loans.

The bailout saves everyone involved, and they're all guilty of being stupid. Those of us who aren't so ignorant are footing the bill for their shortcomings. I guess I should get used to this if Obama is to be President.

 

[WillowTree]

I wonder, do you think someone who got a "no job" "no income" "no assests" loan was a poor little wittle victim??? well doya huh?

 

[Navy1960]

Here is what I agree with the democrats on... Executive compensation!! If these executives want my tax money to bail them out, then you compensation will be set by whatever the government says it is. A Golden Parachute when your asking me to bail you out because you cannot run your own damn company is a joke. That money the day you accept a federal bailout should be looked at as an asset on the companies books and re appropriated. What I don't agree on however is this, that somehow all those that are currently in bankruptcy are somehow going to be bailed out as well. I don't care how big a company gets, thats not a valid reason for the government to come to it's rescue. Did you know that with the the number of foreign banks that have money involved in this we the taxpayers will be bailing them out as well?

 

[jillian]

Why coddle the ignorant? If they didn't realize what they were getting themselves into, they should have asked the advice of someone who would have told them about the risks.

Yes, the lenders are at fault. But they can't lend to people who don't accept the loans.

The bailout saves everyone involved, and they're all guilty of being stupid. Those of us who aren't so ignorant are footing the bill for their shortcomings. I guess I should get used to this if Obama is to be President.

Obama isn't president while this happened... a republican is... Democrats are historically better stewards of the economy than repubs...

It's not just about coddling the ignorant... it's keeping the economy from crashing around those of us who DIDN'T make a fortune financing homes or take loans they couldn't manage.

 

[sealybobo]

Here is what I agree with the democrats on... Executive compensation!! If these executives want my tax money to bail them out, then you compensation will be set by whatever the government says it is. A Golden Parachute when your asking me to bail you out because you cannot run your own damn company is a joke. That money the day you accept a federal bailout should be looked at as an asset on the companies books and re appropriated. What I don't agree on however is this, that somehow all those that are currently in bankruptcy are somehow going to be bailed out as well. I don't care how big a company gets, thats not a valid reason for the government to come to it's rescue. Did you know that with the the number of foreign banks that have money involved in this we the taxpayers will be bailing them out as well?

The Democrats already regulated compensation, so the GOP came up with stock options, and then CEO's manipulated/lied on their way out to get the stock prices up before they cashed out. ALA Enron.

 

[Jon]

Obama isn't president while this happened... a republican is... Democrats are historically better stewards of the economy than repubs...

It's not just about coddling the ignorant... it's keeping the economy from crashing around those of us who DIDN'T make a fortune financing homes or take loans they couldn't manage.

If you want to blame the President or any other politician for predatory lending and the half-wits who borrowed the money without the ability to repay it, so be it. I wasn't blaming politicians for this situation. I was simply pointing out the fact that Democrats often "bailout" the poor at the expense of the rich.

 

[WillowTree]

Here is what I agree with the democrats on... Executive compensation!! If these executives want my tax money to bail them out, then you compensation will be set by whatever the government says it is. A Golden Parachute when your asking me to bail you out because you cannot run your own damn company is a joke. That money the day you accept a federal bailout should be looked at as an asset on the companies books and re appropriated. What I don't agree on however is this, that somehow all those that are currently in bankruptcy are somehow going to be bailed out as well. I don't care how big a company gets, thats not a valid reason for the government to come to it's rescue. Did you know that with the the number of foreign banks that have money involved in this we the taxpayers will be bailing them out as well?

I will go even furthur, I think the government should sieze the assests of every single one of the ceo's and in additon sieze the assests of every single congresscritter who took money from them. Start there.

 

[sealybobo]

I will go even furthur, I think the government should sieze the assests of every single one of the ceo's and in additon sieze the assests of every single congresscritter who took money from them. Start there.

I'll jump on that bi-partisan bandwaggon.

I just don't like where the GOP have taken us.

Here, read this:

A Conservative for Obama | D Magazine - Dallas Fort Worth's Resource for City Guides, Daily Blogs, D Bests, and Restaurants

A Conservative for Obama

As a middle class American, I don't believe the rich need to cut into our way of life so they can make more money. Shifting more of the tax burden on us is wrong. Outsourcing so many jobs that it lowers our wages is wrong. Don't forget the illegal employer problem we have.

 

[WillowTree]

I'll jump on that bi-partisan bandwaggon.

I just don't like where the GOP have taken us.

Here, read this:

A Conservative for Obama | D Magazine - Dallas Fort Worth's Resource for City Guides, Daily Blogs, D Bests, and Restaurants

A Conservative for Obama

As a middle class American, I don't believe the rich need to cut into our way of life so they can make more money. Shifting more of the tax burden on us is wrong. Outsourcing so many jobs that it lowers our wages is wrong. Don't forget the illegal employer problem we have.

well, as I've already pointed out here. the rich have options. They will have the luxury of re-locating. They don't have to sit around and take any abuse the hypocritical limousine liberals care to dish out. So, when they have abandoned ship, and you have no corporations, no small business owners, no jobs, then you can eat shit and die.

 

[Diuretic]

Has anyone blamed the Jews yet?

WJ will be along any moment.

I thought this was interesting"

Meltdown and Bailout: Why Our Economic System Is on the Verge of Collapse | Corporate Accountability and WorkPlace | AlterNet

Bush wants to fleece us for hundreds of billions in the financial crisis, but that's just the first layer of a more fundamental economic problem.

More at link.

 

[Diuretic]

well, as I've already pointed out here. the rich have options. They will have the luxury of re-locating. They don't have to sit around and take any abuse the hypocritical limousine liberals care to dish out. So, when they have abandoned ship, and you have no corporations, no small business owners, no jobs, then you can eat shit and die.

On the other hand this might be what happens when capitalism is allowed to run unfettered. The triumph of ideology over pragmatism caused this mess.

I don't understand the rush to blame the Democrats, although as a party of capitalism they had a hand in it, but not to the extent of the free market ideologues such as McCain. And in the face of this McCain has been reduced to what one commentator here called "incoherence".

McCain should win this election, it would be karma at work.

 

[Navy1960]

WJ will be along any moment.

I thought this was interesting"

Meltdown and Bailout: Why Our Economic System Is on the Verge of Collapse | Corporate Accountability and WorkPlace | AlterNet



More at link.

I thought it was pretty interesting in that article where banks were not even taking over foreclosed properties because they didn't want them on the balance sheet. If you look around where I am, that really holds true. We have so many empty homes here it's amazing. Where I live this developer for the last three years has been clearing off this property to build homes on, then recently, they started to build apartments on the entire property because of he number of empty homes.

 

[Jon]

Shifting more of the tax burden on us is wrong.

But shifting more of the tax burden on the rich is right? They work just as hard for their money as middle class people do. Bill Gates worked 60+ hours a week.

You know what's going to happen if you raise taxes on the rich? They'll donate to more charities so they don't have to pay those taxes, and the government STILL doesn't get it.

 

[jschuck12001]

There is no good resolution to any of this mess. If we bail them out we are screwed and if we dont we will probably be screwed even more.

 

[WillowTree]

But shifting more of the tax burden on the rich is right? They work just as hard for their money as middle class people do. Bill Gates worked 60+ hours a week.

You know what's going to happen if you raise taxes on the rich? They'll donate to more charities so they don't have to pay those taxes, and the government STILL doesn't get it.

Can you say Switzerland?

 

[WillowTree]

There is no good resolution to any of this mess. If we bail them out we are screwed and if we dont we will probably be screwed even more.

yep, they pretty much have us. We now work for them. The last I read the average American works the first four months to pay his tax bill. I guess now he will work 6.

 

[Richard-H]

Whatever the reasoning may be or whoever you may blame, it seems that BOTH liberals and conservatives (and whoever else might actually be awake) all agree that this bailout package

STINKS!!!

Over in the economy board thread "Financial Market Coup d'etat"

We're suggesting a grass roots campaign to try to stop it - why don't you join?

 

[Navy1960]

Don't Support the Bailout Call Congress |

 

[Chris]

It was a sad day for America when George W. Bush was elected.