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If those banks screwed their franchise, and if the American people have to take on their bad paper to save the economy, then by god the American people deserve to take on ALL their paper, and cancel their corporative license.
Those legal entities exist at our largess, not we at theirs!
These powerful banks were given a license to print money.
That license made them enormously wealthy, but the disease of greed infected those running those banks.
And thanks to the nature of tragedies of the commons (per usual) their collective actions have thrown our nation's economy into disrepair.
Tryanny can come from a government or it can perhaps even more easily come from a cabal of powerful men.
But in the final analysis, vesting that much power into the hands of profit motivated banks over whom the PEOPLE have no control, instead of leaving it vested in the hands of democratically elected representatives, is bound to be a mistake if one wants to live in anything remotely like a DEMOCRATIC republic.
The only form of government I trust less than a representational democracy to get the currency right is every other form of government, folks.
White House considers ownership stakes in banks - Yahoo! News
The deregulators are becoming socialist. The only thing the "Trickle Down" theory has done is get my leg wet...THANKS RONNIE!
And people think that Bush will actually let Obama take office if he wins? How many rights have we lost since Bush took office? How is it possible for a division of the United States Army to roam the streets of its own soil for military purposes?
Come on, folks. WAKE UP! Your country is being stolen from you! The rug of capitalism is being yanked from underneath your feet! WAKE UP!
I guarantee you all that there will be another terrorist attack before the end of the year. All the pieces have been set in motion for a while now and Bush is ready to strike.
White House considers ownership stakes in banks - Yahoo! News
The deregulators are becoming socialist. The only thing the "Trickle Down" theory has done is get my leg wet...THANKS RONNIE!
Then let the bank fail. Whatever assets can't be recovered and given back to the depositors can then be reimbursed by the FDIC and the DIC.
We don't have to let them fail, Skull. They failed.
These banks are insolvent. That's pretty much the definition of bank failure.
We seem to be rewarding these bankers' gambling addictions by assuming ONLY their gambling debts and letting them continue to exist as banks.
Why? Those corporations have proven unworthy of their banking franchise by failing.
If we took over ALL their assets (proforming and not proforming) it ends up costing the taxpayers less money, not more.
Hey when you go bankrupt ALL your assets are seized. They sell them off and pay your creditors with the residual, don't they?
Or when you go bankrupt do your creditors assume all you bad debts and let you keep everything else?
You tell me how bankruptsy is supposed to work, Skull.
Those banks are bankrupted.
So why are we taking on their debts and allowing them to keep their proforming assets?
the taxpayers re being ripped off here, amigo.
I want a CAPITALIST SOLUTION, not this socialist one.
That is my point.
They lived by the rules capitalism, they ought to DIE by the rules capitalism.
Yes, of course we agree.
Our interests are align because we both love our nation and the American people and we can both see the real nature of the problem AND the solution being proposed.
Liberals and conservatives often find themselves agreeing when confronted with reality instead of the steady diet of lies we're fed about how bad the other side is.
And in this case, the problem is so enormous that they can't spin it (depite all the people on this board trying to spin it) into it being simply a problem created solely by the republicans or democrats.
Sadly the leadership of both parties is doing what it ALWAYS DOES...taking care of the MASTER CLASS and sticking we the people (conservatives and liberals alike) with the bill.
