GOP candidates and the bailouts

[Cuyo]

If we allowed major banking institutions to fail, we'd have a falling tide the likes of which the world has never seen.

Horseshit fear mongering.

And sadly, most everybody bought it, hook, line and sinker.

But whatcha gonna do?

Well then, rather then just saying "You're wrong," "You're wrong," and "You're wrong," why don't you tell us why?

 

[California Girl]

She's absolutely right. In fact much of the collapse could have been quelled if they'd bailed out Lehman early on. Nobody in high places seemed to know how deep their roots were in other financial institutions. It's called systemic risk.

I think we allow banking institutions too much control over the money supply; But bringing that ideology to the table doesn't change the situation we were in when the bailouts took place.

Any I say you are wrong too.

And it doesn't surprise me to see partisans on both sides toeing the institutional line on this one.

I don't think you understand what was happening at the time. Where our economy is today is concrete laid on top of bedrock compared to what it looked like then. Full collapse was, and still is, a very scary proposition.

I wouldn't go as far as saying our economy is anywhere close to concrete... and certainly there is no bedrock beneath. We are far from safe from collapse right now. For that, you can thank the Dems. But, most certainly, both parties more than played their part in this clusterfuck.... and I resent the fuck out of both sides for it.

 

[manifold]

If we allowed major banking institutions to fail, we'd have a falling tide the likes of which the world has never seen.

Horseshit fear mongering.

And sadly, most everybody bought it, hook, line and sinker.

But whatcha gonna do?

Well then, rather then just saying "You're wrong," "You're wrong," and "You're wrong," why don't you tell us why?

So far I've explained why you're wrong with precisely the same explanatory fervor as you have explained why you're right.

But whatcha gonna do?

 

[ClosedCaption]

We don't know what would have happened without them, although some of the items were certainly questionable.

We know what happened with them. Wealth redistribution from the middle class to the wealthy. Go ahead and ask that hypocrite Caliphony Girl what she thinks about wealth redistribution.

It wasn't, and isn't, about 'wealth redistribution.'

Ever heard that 'A rising tide lifts all boats?' If we allowed major banking institutions to fail, we'd have a falling tide the likes of which the world has never seen.

The fact that some shithead bankers took the money and blew it on executive bonuses and frills out the ass is beside the point.

No it isnt. That is a HUGE point!

 

[manifold]

I freely concede that the free market does not police itself nearly well enough when it comes to fraudulent practices, pollution, collusion, etc, and that is why some government involvement is a necessary evil. But one thing the free market has ALWAYS been proven to do effectively is absorb the losers. And it does so best in the absence of government meddling. There is not one shred of historical precedent to support the fear mongering spin that we simply HAD to bail out the banks, OR ELSE!!!

 

[Dr.Drock]

If we allowed major banking institutions to fail, we'd have a falling tide the likes of which the world has never seen.

Horseshit fear mongering.

And sadly, most everybody bought it, hook, line and sinker.

But whatcha gonna do?

Well then, rather then just saying "You're wrong," "You're wrong," and "You're wrong," why don't you tell us why?

The FDIC insured people's money, so even if the banks failed people would get their money.

So obviously the bailouts had nothing to do with the lower or middle class, it had to do with a very few super elites who were about to get a fraction less money that one year. Since those same super elites buy off our politicians every year, it's very easy to see why those politicians simply repaid the favor to the people above them (the super rich).

I'm not sure why so many people at their core are so anti-capitalism. Companies fail, happens every day in capitalism, get over it.

 

[Cuyo]

Horseshit fear mongering.

And sadly, most everybody bought it, hook, line and sinker.

But whatcha gonna do?

Well then, rather then just saying "You're wrong," "You're wrong," and "You're wrong," why don't you tell us why?

The FDIC insured people's money, so even if the banks failed people would get their money.

So obviously the bailouts had nothing to do with the lower or middle class, it had to do with a very few super elites who were about to get a fraction less money that one year. Since those same super elites buy off our politicians every year, it's very easy to see why those politicians simply repaid the favor to the people above them (the super rich).

I'm not sure why so many people at their core are so anti-capitalism. Companies fail, happens every day in capitalism, get over it.

1. Investment instruments are not FDIC insured.

2. Even if they were, how much would FDIC pay out? Where would that 'money' come from?

 

[Dr.Drock]

Well then, rather then just saying "You're wrong," "You're wrong," and "You're wrong," why don't you tell us why?

The FDIC insured people's money, so even if the banks failed people would get their money.

So obviously the bailouts had nothing to do with the lower or middle class, it had to do with a very few super elites who were about to get a fraction less money that one year. Since those same super elites buy off our politicians every year, it's very easy to see why those politicians simply repaid the favor to the people above them (the super rich).

I'm not sure why so many people at their core are so anti-capitalism. Companies fail, happens every day in capitalism, get over it.

1. Investment instruments are not FDIC insured.

2. Even if they were, how much would FDIC pay out? Where would that 'money' come from?

The same place it all comes from, the Federal Reserve's magical printing box and magical credit creation wand, which is the bigger problem. Gov't doesn't help, but the Fed destroys our economy the most.

Take it from me, I'm posting right now from my job at a bank that received TARP funds and guess what? We have a hiring freeze, and i'll bet layoffs are coming and that's just at this bank. You can see the economy is still in the tank, unemployment is still rampant, foreclosures are happening everywhere around the clock. So even despite your beloved bureacrats throwing money at the super rich, the same problems remain.

For the bailout defenders, i better never hear a single complaint about super rich bankers ever again.