So you’re going to ignore what happened during the Great Recession, when over 8 million Americans lost their homes due to criminal actions by big banks, rating agencies, and mortgage brokers. Those criminal actors got bailed out. Not the American people.Just review the Cares Act. About 2/3 of it went to the rich.You should be focusing your disgust at Trump and Congress who enriched the rich massively, while throwing peanuts at the people.I'm talking about the people that made MORE by being laid off...By bandits you mean Wall Street, big corporations, the 1%, the Catholic Church. etc right?The people living off a government check kept getting that check (and some states actually MAXED OUT their food stamps to help them)...This is horrible. A lot of states have moritoriums on evictions however the monthly expenses keep accruing, while there is no income to offset it. So when they lift the moritoriums, all that back rent will become due at once, while the tenant may or may not have begun working again. He/she will be in the whole no matter what.
And far too many landlords are/were attempting to initiate eviction proceedings during the time they weren't allowed. Attempting to intimidate and scare people out of their homes without even going through the legal process which they couldn't do because the courts were closed.
It's a bad situation all the way around.
The people that kept working kept getting their paychecks...
And the people that were laid off made out like bandits!!!
If they decided to not pay their rent and let it pile up, that's on them for being irresponsible!!!
Unlike the essential workers (like me), who worked the entire TIME without "free money" (other than the stimulus)...
So if I made it, I have no sympathy for the irresponsible people...
Yet more proof our government only cares about the ultra rich.
You do realize that 2/3 of the entire $4 Trillion budget, is money to the people... right?
2/3rds of the budget goes to the public. And you want to claim that only the ultra rich are getting money?
Prove it. Provide evidence.
Right....... so you are going to ignore almost $3 Trillion dollars in Federal Government money that goes to the general public........ Focus exclusively on one single bill, and claim it all goes to the rich, ignoring literally Trillions of dollars that don't?
Further, I've read up on that, and it's not true.
From what I've read, ZERO money just "goes to the rich". Zero.
The only item in the Cares Act that is actually money that comes from the US government, and can possibly go to rich people, is the guaranteed loans.
But those are LOANS. They have to pay them back, with interest.
Do you have to pay back your Cash Grants you are getting? No. You don't have to pay back the money you get from the government. But the rich people have to pay back the money they get from the government.
Notice a slight difference there?
Other than that, they passed a bunch of tax deductions. A tax deduction is not "rich getting money". They are not getting a check from the government.
A deduction, is just like you taking a deduction. If you take the standard deduction, which allows you to keep your own money, do you claim that government is funding you?
No, because if you didn't work for that cash, you would have no taxes to deduct in the first place.
A deduction is not you getting money from the government.
So.... NO. You are wrong. The wealthy are not getting money from the government.
At least not from what I've read. If you have evidence, provide it.
Now a pandemic shuts down the economy forcing millions of Americans out of work and unable to pay their bills, but you think $600 and unemployment benefits is good enough for the people. You ignore the trillions going to the wealthy.
Criminal actions?
The government did that. Freddie Mac, under the control of Bill Clinton, pushed to force banks to make bad loans, just like Obama was doing at that time.
Andrew Cuomo openly admitted they didn't qualify for loans, and the government forced to the banks to make loans.
Additionally the government guaranteed those sub-prime loans.
In 1996, the Department of Housing and Urban Development set a target for Fannie and Freddie that 42 percent of their investment must go to CRA-eligible borrowers.
in order to make that happen....
In 1997, the first securitization of CRA loans, by Bear Stearns, was guaranteed by Freddie Mac. Bear Stearns soon issued another $1.9 billion of CRA mortgages guaranteed by Fannie and Freddie. Fannie securitized close to $400 billion of CRA mortgages between 2000 and 2002. Fannie and Freddie were the primary drivers fueling the demand for secondary market subprime securities.The Professor: Yes, Community Reinvestment Act to blame for mortgage crisis
The Community Reinvestment Act, or CRA, regulations caused the failure of the two government-sponsored mortgage investment giants, Fannie Mae and Freddie Mac, and their failure is at the heart of t…www.sun-sentinel.com
This is well documented. If the government had not been involved in the mortgage market, the sub-prime bubble and crash in 2008, would never have happened.
Before the government got directly involved in 1997, sub-prime was a niche market. It would have stayed that way forever.
As soon as the government guaranteed sub-prime loans, with AAA ratings, the market boomed, which caused the bubble, and crashed in 2008.
Banks didn't do that. Government did. Facts over opinion.
Lol. I’m fine with blaming government TOO. They certainly played a part, but if you think the bankers and the others who crashed the economy are blameless, we can’t continue to debate because you aren’t informed.
The government you so despise then bailed out the crooks, while doing little for the American people. Trump and congress just repeated what W and O did. It’s what government does. The rich own the government.
I'll tell you what.... How about we have the government sue you to force you into using asbestos in your home, and then years later we'll call you a criminal and want to lock you in prison for using asbestos in your home.
Does seem logical and fair to you?
Obama sued a bank, to make bad loans.
Clinton through Andrew Cuomo sued banks to make bad loans.
Now you want to blame banks for making bad loans.
How can you blame people for doing exactly what they were forced by the government to do?
Did you read the press release?
In October 1997, First Union Capital Markets and Bear, Stearns & Co launched the first publicly available securitization of Community Reinvestment Act loans, issuing $384.6 million of such securities. The securities were guaranteed by Freddie Mac and had an implied “AAA” rating.
The banks did not just randomly give bad loans a AAA rating. The rating agencies didn't just randomly give bad loans a AAA rating.
The government through Freddie Mac gave bad loans a AAA rating.
The Mitsubishi Mirage is considered one of the worst cars on the market today. If the government started guaranteeing the quality of the Mirage, do you think sales would increase? Of course they would. Do you think Mitsubishi would double or triple production? Of course they would. Do you think people would start buying them? Of course they would. Do you think the value of these cars would double or triple? Of course they would.
And when the truth came out, that shockingly they still suck... the market for these cars would crash. People who paid $30,000 for a government guaranteed quality car, would end up with a $10,000 junk car. The would default on their loans, and there would be a crash of repos.
Did the "market" do that? No. Government did it. Not a single Sub-prime loan anywhere in the country, would have a AAA rating, if the government had not done it.
Absolutely everything, was due to government.
Not one single aspect of the crash, would have happened if government had not specifically made it happen.
The entire derivatives market itself, is in fact a creation of government. Mortgage Backed Securities were created by government.
Absolutely everything, is exclusively because government made it happen.
You saying you want to blame banks, is like you buying a house the government threatened you to buy, and guaranteed the quality, you renting it out and having the house fall in on itself killing the renters, and people demanding you be thrown in prison for it.
You only bought that house because the government itself guaranteed the quality of the house. Now you are going to go to prison, for doing exactly what the government demanded you do.
If we did that to you, you would be losing your mind in rage at your unjust treatment. But that is exactly what you are doing yourself.
Liar loans packaged as AAA paper and sold around the world at enormous profit, is not the fault of government.
To blame government EXCLUSIVELY for the Great Recession, is ignorance on a massive scale.
In October 1997, First Union Capital Markets and Bear, Stearns & Co launched the first publicly available securitization of Community Reinvestment Act loans, issuing $384.6 million of such securities. The securities were guaranteed by Freddie Mac and had an implied “AAA” rating.
I will issue you a challenge to prove your claim. Provide one single example, of any sub-prime loan that was given a AAA rating, and sold, prior to 1997.
Ron Paul weighs in and he agrees with me. I’m certain though, you guys think you’re more informed than he is. Right?who are these rich you are talking about be very specific and have some supporting linksThey just did it in the CARES act. The Fed has been doing it since the Great Recession and is doing it now buying corporate bonds of big corporations.How does the government " give" trillions to the rich?Yeah fuck those poor people, but make sure government gives trillions to the rich.Idiot people are making unemployment and getting an additional 600.00 a week tax free they are actually making more not working than workingOf course not. Why would YOU care about your fellow American?Because in the greatest economy the world has ever known, people are being evicted from their apartments.
Is this something I'm supposed to care about?
So fuck'em if they can't live on that.
The new con motto.
Please be specific so I can make fun of you.
I want names of corporations and how much they were given.
The Federal Reserve manipulates the money supply by buying and selling government securities. This means that when the Fed decides to pump money into the economy, it does so by putting it in the pockets of wealthy, and oftentimes politically-connected, investors who are able to spend the new money before the Fed’s actions result in widespread inflation. Wealthy individuals also tend to be among the first to invest in the bubbles that form when the Fed distorts interest rates, which are the price of money. These investors may lose some money when the bubble bursts, but these losses are usually outweighed by their gains, so they end up profiting from the Fed-created boom-bubble-bust cycle.
In contrast, middle-class Americans lose jobs as well as savings, houses, and other assets when bubbles burst. They will also not benefit as much as the rich and well-connected from government bailouts and stimulus schemes. Middle- and working-class Americans also suffer from a steady erosion of their standard of living because of the Fed’s devaluation of the currency. This is the reason why so many Americans rely on credit cards to cover routine expenses. The Federal Reserve is thus the reason why total US credit card debt is almost one trillion dollars.
Will the Federal Reserve Finally Wreck America? - LewRockwell LewRockwell.com
Isn’t this wonderful? The war parties (Rs and Ds) love enriching the MIC. Any guesses as to who benefits big from all those dollars? I’m pretty sure it isn’t anyone in the middle class or those who are poor.
How the House Armed Services Committee, in the Middle of a Pandemic, Approved a Huge Military Budget and More War in Afghanistan
SYSTEM UPDATE: How the House Armed Services Committee Works
We get it already you hate high paying Union jobs
And you do too. That's the difference. We know admit the truth, you don't.
You pretend you like high paying union jobs, but then you complain about the cost of everything. You cry about inflation, and how the cost of living goes up.
Well... sparky... those are connected. In order to pay those high wages to cushy union jobs, you have to pay much higher prices for everything you buy.
If you had to calculate at the end of the year, all the extra money you had to pay for Union labor... you'd be screaming bloody murder.
The only reason you don't, is because you can't see how much poorer you are because of Unions.
Project much ? I despise Unions
Oh I thought you were complaining the other guy hated high paying Unions.
To someone else who supports unions....
....assume I was talking to you instead of Bear.