BofA, the Right and Economics

DontBeStupid

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For months now we have all been lectured on these boards from those on the right about how if you cut taxes for the wealthy, they will invest that money and the company they invest in will then use that money to hire new workers and expand. According to the economic minds of the right, this happens every time, all the time, no exceptions, ever.

A few weeks ago, Warren Buffet, hated rich guy, invested $5B in Bank of America. Bank of America then turned around and announced lay offs of some 30,000 workers.

Now, I have already seen posts from people trying to blame the BofA firings on Obama (very funny by the way), but what I would seriously like, honestly, is for one of the economic minds on the right to explain to all of us, how is it you were predicting one thing and the exact opposite happened?

Thanks in advance
 

konradv

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Obama called Buffett right before he made the purchase.

Coinkydink?
You tapping into the WH phone lines now?!?! I guess you have to provide some kind of distraction to cover up the fact that despite our NOT having raised taxes, the jobs still aren't there. Seems like the "tax them and they won't create jobs" meme is all smoke and mirrors!!!
 
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DontBeStupid

DontBeStupid

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Also, you're a complete fucking moron so its impossible to talk to you about this
Kind of a cowardly response, don't you think? I mean, even if you think I can't grasp the concept, think of all the other liberals here you could convert to your side.

You know, if you tried.

Which you aren't.
 

CrusaderFrank

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Also, you're a complete fucking moron so its impossible to talk to you about this
Kind of a cowardly response, don't you think? I mean, even if you think I can't grasp the concept, think of all the other liberals here you could convert to your side.

You know, if you tried.

Which you aren't.
You don't know the difference between a deficit and a budget or a preferred stock and a tax cut...why should I waste my time talking to you?
 

Photonic

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Also, you're a complete fucking moron so its impossible to talk to you about this
Kind of a cowardly response, don't you think? I mean, even if you think I can't grasp the concept, think of all the other liberals here you could convert to your side.

You know, if you tried.

Which you aren't.
You don't know the difference between a deficit and a budget or a preferred stock and a tax cut...why should I waste my time talking to you?
If you actually had an answer I'm sure you would have taken the time (Which you have spent insulting him instead) telling him how wrong he is and showing evidence to that.

You have done the opposite, bravo.
 

CrusaderFrank

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Obama called Buffett right before he made the purchase.

Coinkydink?
You tapping into the WH phone lines now?!?! I guess you have to provide some kind of distraction to cover up the fact that despite our NOT having raised taxes, the jobs still aren't there. Seems like the "tax them and they won't create jobs" meme is all smoke and mirrors!!!
You may be a bigger moron than Don't Be as Stupid as Don't Be Stupid
 

CrusaderFrank

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Kind of a cowardly response, don't you think? I mean, even if you think I can't grasp the concept, think of all the other liberals here you could convert to your side.

You know, if you tried.

Which you aren't.
You don't know the difference between a deficit and a budget or a preferred stock and a tax cut...why should I waste my time talking to you?
If you actually had an answer I'm sure you would have taken the time (Which you have spent insulting him instead) telling him how wrong he is and showing evidence to that.

You have done the opposite, bravo.
It's like a Batman Episode with the Riddler "How is an Investment in preferred stock like a Tax cut, Robin?"

Robin: It's not! Are you a moron?
 

dilloduck

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You don't know the difference between a deficit and a budget or a preferred stock and a tax cut...why should I waste my time talking to you?
If you actually had an answer I'm sure you would have taken the time (Which you have spent insulting him instead) telling him how wrong he is and showing evidence to that.

You have done the opposite, bravo.
It's like a Batman Episode with the Riddler "How is an Investment in preferred stock like a Tax cut, Robin?"

Robin: It's not! Are you a moron?
Holy Bat-Bailout ! :eek:
 

Photonic

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You don't know the difference between a deficit and a budget or a preferred stock and a tax cut...why should I waste my time talking to you?
If you actually had an answer I'm sure you would have taken the time (Which you have spent insulting him instead) telling him how wrong he is and showing evidence to that.

You have done the opposite, bravo.
It's like a Batman Episode with the Riddler "How is an Investment in preferred stock like a Tax cut, Robin?"

Robin: It's not! Are you a moron?
Perhaps not in the context of tax cuts, but BofA has received the same cuts as everyone else, plus investment capitol to save those 30k jobs (which, btw equates to about $5B saved). Does it not seem a little odd?

I mean, considering they just received $5B in investment? You really don't find that odd at all?
 

CrusaderFrank

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BofA got $5B increase on their Tier 1 capital, that, along with shedding 30K employees will help them weather the coming storm. I think Greece and Italy will pull the EU down with them later this year or early next and it won't be pleasant in Europe or the USA.

In case you didn't notice, some banks did well under TARP, others went bust. Bear, Lehman and Merrill no longer exist, but Goldman, Chase and BofA continue.
 
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Photonic

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BofA got $5B increase on their Tier 1 capital, that, along with shedding 30K employees will help them weather the coming storm. I think Greece and Italy will pull the EU down with them later this year or early next and it won't be pleasant in Europe or the USA.

In case you didn't notice, some banks did well under TARP, others went bust. Bear, Lehman and Merrill no longer exist, but Goldman, Chase and BofA continue.
And how exactly does that work in their interest to eliminate 30,000 consumers?

This kind of proves that companies are only in it for themselves. They have no interest in job creation, only shoring up their money reserves.
 

Sallow

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BofA got $5B increase on their Tier 1 capital, that, along with shedding 30K employees will help them weather the coming storm. I think Greece and Italy will pull the EU down with them later this year or early next and it won't be pleasant in Europe or the USA.

In case you didn't notice, some banks did well under TARP, others went bust. Bear, Lehman and Merrill no longer exist, but Goldman, Chase and BofA continue.
And how exactly does that work in their interest to eliminate 30,000 consumers?

This kind of proves that companies are only in it for themselves. They have no interest in job creation, only shoring up their money reserves.
It started early in the Bush administration, when companies like Hewlett Packard, under Carly Fiorina, began to almost capriciously lay people off. They did this while they were profitable, and solely as a proof of concept. This began a cyclical collapse of employment in this country.
 

CrusaderFrank

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BofA got $5B increase on their Tier 1 capital, that, along with shedding 30K employees will help them weather the coming storm. I think Greece and Italy will pull the EU down with them later this year or early next and it won't be pleasant in Europe or the USA.

In case you didn't notice, some banks did well under TARP, others went bust. Bear, Lehman and Merrill no longer exist, but Goldman, Chase and BofA continue.
And how exactly does that work in their interest to eliminate 30,000 consumers?

This kind of proves that companies are only in it for themselves. They have no interest in job creation, only shoring up their money reserves.
Yes, we must eliminate all companies, only government knows what each of us truly need.

See, I tried, but when I talk to morons, that's the kind or response I get
 

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