This is awesome

[RodISHI]

Reportedly, Obama's top economic advisors, Geithner and Summers, are trying to avoid taking over the banks because they believe that even after eliminating all the excesses government banks operate less efficiently than privately owned banks and that government ownership of the banks will wipe out a huge amount of private investment capital the value of privately owned shares, and do nothing to help us out of this recession.

Interesting. Do they believe government workers use creative accounting and altered documentation to bolster their books to make those multi million dollar salaries too?

you do realize that if a private small business used government accounting rules on its books that the owner of that business would most likely be indicted for tax fraud don't you?

USATODAY.com

so you see the government is guilty of creative accounting on a whole new level.

So tell me does the IRS give out erroeous 1099's, when SBA was government ran did SBA short loan funds by ten's of thousands to small business enterprises in order to try and steal hundreds of acres, do most government agencies purposely assist common theives in fraud and altering of documents to screw the common folk outta their homes, does the government charge 50% plus interest after purposely sending out notices late all in order to recieve a personal paycheck of multiple millions, plus that ole switch and bait? If you can show me where on a whole federal agents assist in these types of common banking practices I'll go along with whatever it is you propose.

 

[dilloduck]

Sounds fine to me.

If you are using your own money then by all means give out the fattest bonus checks you can but it's an insult to do the same with money WE put in their tin cup.

Then why in the hell are we giving ANYONE money if we are going to turn around and bitch about how they spend it ? Don't give it too em and they can't waste it.
How simple can this get ?

We put conditions on government money all the time.

Apparently not often enough and in this case not timely enough. Are the really this stupid ?
If there are not then they are crooks--plain and simple.

 

[Red Dawn]

I "heart" Claire McCaskill.....



Angry senator wants pay cap on Wall Street "idiots"

One day after President Barack Obama ripped Wall Street executives for their "shameful" decision to hand out $18 billion in bonuses in 2008, Congress may finally have had enough.

An angry U.S. senator introduced legislation Friday to cap compensation for employees of any company that accepts federal bailout money. Under the terms of a bill introduced by Sen. Claire McCaskill, D-Missouri, no employee would be allowed to make more than the president of the United States.

Obama's current annual salary is $400,000.

"We have a bunch of idiots on Wall Street that are kicking sand in the face of the American taxpayer," an enraged McCaskill said on the floor of the Senate. "They don't get it. These people are idiots. You can't use taxpayer money to pay out 18 billion dollars in bonuses."

McCaskill's proposed compensation limit would cover salaries, bonuses and stock options.



Angry senator wants pay cap on Wall Street 'idiots' - CNN.com

Sounds fine to me.

If you are using your own money then by all means give out the fattest bonus checks you can but it's an insult to do the same with money WE put in their tin cup.

Then why in the hell are we giving ANYONE money if we are going to turn around and bitch about how they spend it ? Don't give it too em and they can't waste it.
How simple can this get ?

I'm not against government aid to businesses, homeowners, and average working people if economic conditions merit it.

The difference between you and me, is that you voted twice, for a guy who wanted to "get government out of the way" and so that the "magic" of the free markets would create prosperity. And the guy you voted for twice appointed a Treasury secretary who originally wanted all the TARP money, no strings attached. The guy you voted twice for appointed industry lobbyiests and corporate hacks to regulartory commissions and law enforcment agencies who's core ideology was not to muck around in business affairs, not to provide oversight, and to get out of the way of the magic of the markets.

I don't like some of Obama's appointments. But, I think conditions on the use of tax payer money, and oversight on how it is used or spent is likely to be a little more robust than the guy you voted for, not just once, but twice.

 

[toomuchtime_]

Of course, if Obama and McCaskill had any idea how to get the US out of the credit crunch that is deepening the recession every day, they wouldn't need to waste time trying to deflect the public's anger from their inability to their jobs competently to criticism's of how banking executives are doing their jobs.


The the Public has been doing their jobs.

So has Obama and team.

It was Bush and the republicans not doing their job that caused this.

Didn't you claim it was the deregulation passed in 1999 by the Democrat controlled House and signed by Clinton that caused the financial crisis? In fact the list of people, agencies and policies that got us into this mess is very long. Let's start with the Fed's policy of keeping interest rates low to avoid economic slowdowns; this created the tech boom of the late 1990's that ended with the stock market crash that wiped out the retirement savings of a whole generation of Americans and it created the real estate bubble that was led to our current problems. Next, let's talk about the deregulations passed by tne Democrat controlled House in 1999 and 2000 and signed by Clinton that allowed these derivatives to suck up the reserves of banks and other financial institutions all over the world. Finally, there are the bond rating companies that, either because of greed or incompetence gave high ratings to these mortgage backed derivatives so that institutional and private investors thought they were the next best thing to Treasuries in terms of safety. If any one of these three things hadn't happened, the low interest rates, the deregulation or the high bond ratings, we would not have had the financial crisis that led to this recession.

Clearly, the Fed, both political parties and the private sector share responsibility of the recession. What's really scary is that all three of them thought they were doing the smart thing and were all caught completely by surprise when the financial crisis hit, and even then they had no idea of how huge it was. When Paulson rolled out the TARP bandwagon, the Democrats, after spinning out some catchy class warfare slogans about protecting the little guy, were pushing and shoving to climb aboard because they shouted, we've got to prevent this Wall Street crisis from spreading to Main Street, but of course, it already had spread to Main Street.

 

[toomuchtime_]

We should OWN these fuckers, if they're taking hundreds of billions of taxpayer dollars.

Damn straight we should insist they take pay cuts, before paying out bonuses with taxpayer money.

Reportedly, Obama's top economic advisors, Geithner and Summers, are trying to avoid taking over the banks because they believe that even after eliminating all the excesses government banks operate less efficiently than privately owned banks and that government ownership of the banks will wipe out a huge amount of private investment capital the value of privately owned shares, and do nothing to help us out of this recession.

Interesting. Do they believe government workers use creative accounting and altered documentation to bolster their books to make those multi million dollar salaries too?

Do they believe politicians and government agencies lie to cover up unpopular policies and mistakes in judgment? Of course they do. Don't you?

 

[toomuchtime_]

I still say we should turn The Fed and every branch of every bank that has taken bail-out money into "We, The People Not-For-Profit Credit Union" and tell the banking class to go fuck themselves.

I M Humble O

-Joe

Or we could set up another Resolution Trust Corporation like the one that bailed the credit unions out when they made too many bad investments.

 

[Annie]

Of course, if Obama and McCaskill had any idea how to get the US out of the credit crunch that is deepening the recession every day, they wouldn't need to waste time trying to deflect the public's anger from their inability to their jobs competently to criticism's of how banking executives are doing their jobs.


The the Public has been doing their jobs.

So has Obama and team.

It was Bush and the republicans not doing their job that caused this.

Didn't you claim it was the deregulation passed in 1999 by the Democrat controlled House and signed by Clinton that caused the financial crisis? In fact the list of people, agencies and policies that got us into this mess is very long. Let's start with the Fed's policy of keeping interest rates low to avoid economic slowdowns; this created the tech boom of the late 1990's that ended with the stock market crash that wiped out the retirement savings of a whole generation of Americans and it created the real estate bubble that was led to our current problems. Next, let's talk about the deregulations passed by tne Democrat controlled House in 1999 and 2000 and signed by Clinton that allowed these derivatives to suck up the reserves of banks and other financial institutions all over the world. Finally, there are the bond rating companies that, either because of greed or incompetence gave high ratings to these mortgage backed derivatives so that institutional and private investors thought they were the next best thing to Treasuries in terms of safety. If any one of these three things hadn't happened, the low interest rates, the deregulation or the high bond ratings, we would not have had the financial crisis that led to this recession.

Clearly, the Fed, both political parties and the private sector share responsibility of the recession. What's really scary is that all three of them thought they were doing the smart thing and were all caught completely by surprise when the financial crisis hit, and even then they had no idea of how huge it was. When Paulson rolled out the TARP bandwagon, the Democrats, after spinning out some catchy class warfare slogans about protecting the little guy, were pushing and shoving to climb aboard because they shouted, we've got to prevent this Wall Street crisis from spreading to Main Street, but of course, it already had spread to Main Street.

You recognize that is waaaayyyyy too much information for her to absorb? It's too nuanced and broad. You know the answer to the cause: "It's fucking Bush's fault! He should hang!"

 

[Article 15]

Then why in the hell are we giving ANYONE money if we are going to turn around and bitch about how they spend it ?

Because as Americans we are allowed to bitch about such things?

Because fraud, waste, and abuse should be reported and dealt with?

Don't give it too em and they can't waste it.
How simple can this get ?

Look man, that's great and all and I really hear ya dude but that doesn't exactly work as a defense or make up for what these guys on Wall Street are doing which amounts to LINING THEIR POCKETS.

"Don't give them the money in the first place" ... though I do like the idea ... doesn't help with the problem at hand.

 

[Annie]

Then why in the hell are we giving ANYONE money if we are going to turn around and bitch about how they spend it ?

Because as Americans we are allowed to bitch about such things?

Because fraud, waste, and abuse should be reported and dealt with?

Don't give it too em and they can't waste it.
How simple can this get ?

Look man, that's great and all and I really hear ya dude but that doesn't exactly work as a defense or make up for what these guys on Wall Street are doing which amounts to LINING THEIR POCKETS.

"Don't give them the money in the first place" ... though I do like the idea ... doesn't help with the problem at hand.

How does giving them the money help with the problem at hand?

 

[Article 15]

Then why in the hell are we giving ANYONE money if we are going to turn around and bitch about how they spend it ?

Because as Americans we are allowed to bitch about such things?

Because fraud, waste, and abuse should be reported and dealt with?

Don't give it too em and they can't waste it.
How simple can this get ?

Look man, that's great and all and I really hear ya dude but that doesn't exactly work as a defense or make up for what these guys on Wall Street are doing which amounts to LINING THEIR POCKETS.

"Don't give them the money in the first place" ... though I do like the idea ... doesn't help with the problem at hand.

How does giving them the money help with the problem at hand?

Don't they already have the money?

 

[RodISHI]

Reportedly, Obama's top economic advisors, Geithner and Summers, are trying to avoid taking over the banks because they believe that even after eliminating all the excesses government banks operate less efficiently than privately owned banks and that government ownership of the banks will wipe out a huge amount of private investment capital the value of privately owned shares, and do nothing to help us out of this recession.

Interesting. Do they believe government workers use creative accounting and altered documentation to bolster their books to make those multi million dollar salaries too?

Do they believe politicians and government agencies lie to cover up unpopular policies and mistakes in judgment? Of course they do. Don't you?

No I don't. I turn over every single rock until I find out who, what, when, why, where and how. If I made a mistake in the interim, I'll own up to it and take my lumps.

Are there people in the government that do? Yea sure many are still in leadership positions that will suck the ass right out of a donkey to keep them cushy jobs that they have. Is it the previaling position of most government workers? I do not think it is. If it is get right after letting us know who, what and where so we can bitch about them too!

 

[AVG-JOE]

Of course, if Obama and McCaskill had any idea how to get the US out of the credit crunch that is deepening the recession every day, they wouldn't need to waste time trying to deflect the public's anger from their inability to their jobs competently to criticism's of how banking executives are doing their jobs.


The the Public has been doing their jobs.

So has Obama and team.

It was Bush and the republicans not doing their job that caused this.

Didn't you claim it was the deregulation passed in 1999 by the Democrat controlled House and signed by Clinton that caused the financial crisis? In fact the list of people, agencies and policies that got us into this mess is very long. Let's start with the Fed's policy of keeping interest rates low to avoid economic slowdowns; this created the tech boom of the late 1990's that ended with the stock market crash that wiped out the retirement savings of a whole generation of Americans and it created the real estate bubble that was led to our current problems. Next, let's talk about the deregulations passed by tne Democrat controlled House in 1999 and 2000 and signed by Clinton that allowed these derivatives to suck up the reserves of banks and other financial institutions all over the world. Finally, there are the bond rating companies that, either because of greed or incompetence gave high ratings to these mortgage backed derivatives so that institutional and private investors thought they were the next best thing to Treasuries in terms of safety. If any one of these three things hadn't happened, the low interest rates, the deregulation or the high bond ratings, we would not have had the financial crisis that led to this recession.

Clearly, the Fed, both political parties and the private sector share responsibility of the recession. What's really scary is that all three of them thought they were doing the smart thing and were all caught completely by surprise when the financial crisis hit, and even then they had no idea of how huge it was. When Paulson rolled out the TARP bandwagon, the Democrats, after spinning out some catchy class warfare slogans about protecting the little guy, were pushing and shoving to climb aboard because they shouted, we've got to prevent this Wall Street crisis from spreading to Main Street, but of course, it already had spread to Main Street.

It was Clinton's fault!

It was Bush II's fault!!

It was Regan's fault!!!

It was Congresses' fault!!!!

Maybe it was the French!

Good night folks! When are we going to realize it happened because the money that has controlled both political parties since the 1940's drove their current experiment in economics off a cliff.

The only question now is "Do we let them try another?"

-Joe

 

[Annie]

Of course, if Obama and McCaskill had any idea how to get the US out of the credit crunch that is deepening the recession every day, they wouldn't need to waste time trying to deflect the public's anger from their inability to their jobs competently to criticism's of how banking executives are doing their jobs.


The the Public has been doing their jobs.

So has Obama and team.

It was Bush and the republicans not doing their job that caused this.

Didn't you claim it was the deregulation passed in 1999 by the Democrat controlled House and signed by Clinton that caused the financial crisis? In fact the list of people, agencies and policies that got us into this mess is very long. Let's start with the Fed's policy of keeping interest rates low to avoid economic slowdowns; this created the tech boom of the late 1990's that ended with the stock market crash that wiped out the retirement savings of a whole generation of Americans and it created the real estate bubble that was led to our current problems. Next, let's talk about the deregulations passed by tne Democrat controlled House in 1999 and 2000 and signed by Clinton that allowed these derivatives to suck up the reserves of banks and other financial institutions all over the world. Finally, there are the bond rating companies that, either because of greed or incompetence gave high ratings to these mortgage backed derivatives so that institutional and private investors thought they were the next best thing to Treasuries in terms of safety. If any one of these three things hadn't happened, the low interest rates, the deregulation or the high bond ratings, we would not have had the financial crisis that led to this recession.

Clearly, the Fed, both political parties and the private sector share responsibility of the recession. What's really scary is that all three of them thought they were doing the smart thing and were all caught completely by surprise when the financial crisis hit, and even then they had no idea of how huge it was. When Paulson rolled out the TARP bandwagon, the Democrats, after spinning out some catchy class warfare slogans about protecting the little guy, were pushing and shoving to climb aboard because they shouted, we've got to prevent this Wall Street crisis from spreading to Main Street, but of course, it already had spread to Main Street.

It was Clinton's fault!

It was Bush II's fault!!

It was Regan's fault!!!

It was Congresses' fault!!!!

Maybe it was the French!

Good night folks! When are we going to realize it happened because the money that has controlled both political parties since the 1940's drove their current experiment in economics off a cliff.

The only question now is "Do we let them try another?"

-Joe

Indeed Joe. May be the first time I agreed with you.

 

[Annie]

Because as Americans we are allowed to bitch about such things?

Because fraud, waste, and abuse should be reported and dealt with?



Look man, that's great and all and I really hear ya dude but that doesn't exactly work as a defense or make up for what these guys on Wall Street are doing which amounts to LINING THEIR POCKETS.

"Don't give them the money in the first place" ... though I do like the idea ... doesn't help with the problem at hand.

How does giving them the money help with the problem at hand?

Don't they already have the money?

Once again, 'How does that help the problem at hand?'

 

[Article 15]

How does giving them the money help with the problem at hand?

Don't they already have the money?

Once again, 'How does that help the problem at hand?'

It puts some measure of control on these banks and stops them from rewarding people for failure.

 

[AVG-JOE]

Sounds fine to me.

If you are using your own money then by all means give out the fattest bonus checks you can but it's an insult to do the same with money WE put in their tin cup.

Then why in the hell are we giving ANYONE money if we are going to turn around and bitch about how they spend it ? Don't give it too em and they can't waste it.
How simple can this get ?

I'm not against government aid to businesses, homeowners, and average working people if economic conditions merit it.

The difference between you and me, is that you voted twice, for a guy who wanted to "get government out of the way" and so that the "magic" of the free markets would create prosperity. And the guy you voted for twice appointed a Treasury secretary who originally wanted all the TARP money, no strings attached. The guy you voted twice for appointed industry lobbyiests and corporate hacks to regulartory commissions and law enforcment agencies who's core ideology was not to muck around in business affairs, not to provide oversight, and to get out of the way of the magic of the markets.

I don't like some of Obama's appointments. But, I think conditions on the use of tax payer money, and oversight on how it is used or spent is likely to be a little more robust than the guy you voted for, not just once, but twice.

I still say that the best way for We, The People to aid citizens and business alike is to form our own non-profit credit union so that we are not beholding to the banker class for our mortgages and they don't profit from our debt.

-Joe