Poll: Which Debt Would You Forgive?

Poll: Which Debt Would You Forgive?

  • 75 Trillion in Bank of America Derivatives

    Votes: 0 0.0%

  • Total voters
    16
  • Poll closed .

Mad Scientist

Feels Good!
Sep 15, 2008
24,196
5,431
270
Last edited:
Only mentioned the above because there are alot of 'guests' here who do not realize that the FDIC is funded by taxpayers.
 
Typical political poll, only goal here advancing an agenda with poll questions set up to 'prove' a predetermined outcome.
 
Typical political poll, only goal here advancing an agenda with poll questions set up to 'prove' a predetermined outcome.
Uh, not really.

Americans don't want to forgive anyone's student loans or mortgages, but they don't even realize they've already been put on the hook for 75 Trillion by their own treasonous gov't! Americans are debt slaves!

And they don't even get upset about it.
 
...they've already been put on the hook for 75 Trillion by their own treasonous gov't!...
Huh, we were just talking about how--
... 98.4% of the numbers on these threads are made up with no basis in fact, link/sources, nor supporting data...
In the meantime, my guess it the $75T number came from this source:
bizarroworld.GIF
 
Which would provide the most economically stimulating bang for the buck?

Which is most likely to force Americans to understand that you do not borrow money you cannot afford to pay back? We wouldn't need to 'stimulate' the economy if Americans could behave responsibly.
 
Which is most likely to force Americans to understand that you do not borrow money you cannot afford to pay back? We wouldn't need to 'stimulate' the economy if Americans could behave responsibly.

We can't/shouldn't legislate telling people how to live, but we also don't need to throw money at them when they screw up. What we can do is tell Congress how to spend our money or, better yet, how not to spend it.

Our government should be acting in the long term best interests of the nation. Helping extend loans so the owners don't have to default is in our interests, but forgiving debt is not. It rewards bad behavior and we should never, ever do that.
 
...We wouldn't need to 'stimulate' the economy if Americans could behave responsibly.
Actually, Americans do in fact behave responsibly and they always have. What's going on now is a lack of understanding of just what it means to stimulate.

It's like most people don't realize that nerves respond to a changing sensation and ignore constant conditions. TARP was a stimulus. Obama's continuaing open-ended spending programs have no affect on the economy other than to force employers to hunker down. The slow recovery were finally beginning to get now is in response to the increasing possibility that the spending will stop.

Now that would be a stumulus.
 
Which would provide the most economically stimulating bang for the buck?

Which is most likely to force Americans to understand that you do not borrow money you cannot afford to pay back? We wouldn't need to 'stimulate' the economy if Americans could behave responsibly.

'moral hazard' is just a rightwing slogan;)
 
Which is most likely to force Americans to understand that you do not borrow money you cannot afford to pay back? We wouldn't need to 'stimulate' the economy if Americans could behave responsibly.

We can't/shouldn't legislate telling people how to live, but we also don't need to throw money at them when they screw up. What we can do is tell Congress how to spend our money or, better yet, how not to spend it.

Our government should be acting in the long term best interests of the nation. Helping extend loans so the owners don't have to default is in our interests, but forgiving debt is not. It rewards bad behavior and we should never, ever do that.

Did I say we should legislate it? No. I said Americans should not be 'let off' of debts that they carry the personal responsibility to pay off. You borrow it, you pay it back. No overly hard to grasp.

I absolutely agree that Congress should be held accountable for their mismanagement of our country's finances. They should also be held accountable for what they did to force banks to lend to those who could not afford to pay it back.

It is far too convenient for our politicians for Americans to focus their ire on the banks. The banks would not have done what they did without some strong arming from politicians. It took bi-partisan corruption to achieve this clusterfuck.
 
...We wouldn't need to 'stimulate' the economy if Americans could behave responsibly.
Actually, Americans do in fact behave responsibly and they always have. What's going on now is a lack of understanding of just what it means to stimulate.

It's like most people don't realize that nerves respond to a changing sensation and ignore constant conditions. TARP was a stimulus. Obama's continuaing open-ended spending programs have no affect on the economy other than to force employers to hunker down. The slow recovery were finally beginning to get now is in response to the increasing possibility that the spending will stop.

Now that would be a stumulus.

No, they clearly don't. Otherwise, they wouldn't be buying houses they couldn't afford, running up credit that they couldn't pay back.
 
...they've already been put on the hook for 75 Trillion by their own treasonous gov't!...
Huh, we were just talking about how--
... 98.4% of the numbers on these threads are made up with no basis in fact, link/sources, nor supporting data...
In the meantime, my guess it the $75T number came from this source:
bizarroworld.GIF
Sorry it's not FauxNews or MSLSD. I thought you were smart. As it turns out, you're in just as much denial as many others on this board are.
Would Bloomberg work for ya'?:
BofA Said to Split Regulators Over Moving Merrill Derivatives to Bank Unit - Bloomberg
Which would provide the most economically stimulating bang for the buck?
Student Loan and Mortgage forgiveness. Think about how the economy would take off if American Tax Payers weren't saddled with that debt.

But no, Banks are "Too Big To Fail". :uhoh3:
 
...Americans do in fact behave responsibly and they always have...
No, they clearly don't. Otherwise, they wouldn't be buying houses they couldn't afford, running up credit that they couldn't pay back.
This misunderstanding comes up a lot as many think they're seeing clear nationwide trends based on hard research just by reading made up stories from goofy pundits or going by friends/personal experiences and anecdotes. Seems that one of the best kept secrets is the fact that for years now total American private household debt's been falling steadily (Federal Reserve Flow of Funds Accounts of the United States--September 16, 2011) even while the federal government's debt's (Debt to the Penny US Treasury Dept.) been soaring.
 
...FauxNews or MSLSD. I thought you were smart. As it turns out, you're in just as much denial as many others on this board are.
Would Bloomberg...
Fox and Bloomberg are good for finding out what other people are talking about, but the only way we can check if the pundits are making it up or not is by our doing the research and thinking ourselves. You said--
...they've already been put on the hook for 75 Trillion by their own treasonous gov't!...
--and you got that goofy idea from misreading Bloomberg. Sure, that's probably their intent but note how they didn't actually say "US taxpayers will have to pay $75T for derivative losses." Bloomberg's Bob Ivry, Hugh Son and Christine Harper know how to choose their words carefully in order to lead the gullible astray even while making statements that remain true, or at least technically correct.
 
THis is same phooey that we got about $1Zill in Credit Default Swaps.. You know why we didn't spend TARP taking "toxic MBS" off the market? Because Congress finally did what Wall Street was asking them to do and that was to suspend "mark to market".. Those MBSs were never "junk" or "zero value", but all trading on them was virtually frozen so they might as well have been. They contain a lot of lips and lungs --- but they were edible sausages.

So no judgement day came on CDSwaps did it?

Besides --- get back to me when the FDIC ALLOWs Merrill to do that. I'm sure they are not gonna roll over and watch the FDIC Insurance group be mortally insulted like that...
 
...same phooey that we got about $1Zill in Credit Default Swaps...
I know, it's crazy!

Kind of reminds me of back when I was an engineering student and a buddy tried to tell me that the earth was hollow and people lived inside it. I never did convince him otherwise because as these things are more of a deep emotion/religion type thing, but I learned a lot by studying up on info needed to prove him wrong.

Reading up on CDS's, debt, etc. has been a lot of fun for this 75/150T nonsense.

btw, you're absolutely right about the need to ditch 'mark to market'. Man, that was a pain!
 
I absolutely agree that Congress should be held accountable for their mismanagement of our country's finances. They should also be held accountable for what they did to force banks to lend to those who could not afford to pay it back.

It is far too convenient for our politicians for Americans to focus their ire on the banks. The banks would not have done what they did without some strong arming from politicians. It took bi-partisan corruption to achieve this clusterfuck.

Agreed that Congress should be held accountable. As far as "forcing" the banks to do anything, my perspective is that the Lefties wanted banks to give risky, low-cost, no-down loans to poor people in order to allow them to buy homes and the Righties agreed but wanted a provision where the banks were protected from defaults by government protections. There are really no winners here, only losers and Congress, both sides, are responsible.
 

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