Paulson just can't bring himself to help homeowners.

[Mursilis]

Originally posted by: techs
I KNEW it. The Bush lackeys just can't bring themselves to actually help working class Americans. They lied about how they would spend the bailout money.
It's just amazing that they seem constitutionally (sic) unable to help real Americans and continue to be the bitch of the large corporations.

It is again amusing to watch partisan troll techs blame this whole bailout fiasco on Bush, while yet again ignoring the fact it was authorized by a Democratically-controlled Congress. Your messiah even voted for the bailout, yet it's all Bush's fault. :roll:

As for any of the "working class Americans" stupid enough to buy a house they could not afford, enjoy spending the holidays outdoors. The University of Real Life and Hard Knocks has brutal coursework sometimes, but at least there are no tuition fees!

 

[LegendKiller]

Originally posted by: Genx87

Originally posted by: Jhhnn

Originally posted by: cubby1223

Originally posted by: SigArms08
Isn't China proceeding with a $500 billion 'bailout' of their own? Instead of just giving money to large banks (so that they can use said money to buy smaller banks) like the US gov't has done, China actually intends to build up their infrastructure. In short, they'll create jobs and have tangible assets of significant value for their money. What will the American people have after our bailout money is thrown to the four winds?

That's what FDR tried with his New Deal, and it didn't do a thing to get the U.S. out of the Great Depression.

That's right, drag out the current rightwing revisionist history meme about Roosevelt and the Great Depression.

The biggest difference between then and now is the flywheel effect of "big govt", something the Rightwing seeks desperately to deny. Back then, when the private sector took a faceplant, there was nothing to keep commerce flowing. Many of Roosevelt's programs to do that were actually begun under Hoover, in an effort to provide a viable alternative, but they had to start from scratch. Having more people in the employ of the govt will serve to moderate the situation today, much to the chagrin and dismay of the Free Market! ravers...

The paychecks of federal, state, and local govt employees will do more to stimulate the economy than any pissant stimulus package, bet on that... and the commerce generated by their employers will keep many ancilliary business afloat at the same time...

The federal and state govt are the largest employers in the country. Why isnt it moderating the situation? Not big enough in your opinion?

And there is no revisionist history. Many of FDR's programs didnt deliver. 1940 we still had 20% unemployment and a slagging economy. The bottom line we can take from those programs is govt isnt always the answer. No matter how many times lefties try to tell us it is.

I wont argue that what FDR did didnt help to keep us from sliding in a fascist model. But many of the benefits people claim happened either never did or are overblown.

And I find it funny that lefties are pushing this big govt fascism model now. But I guess it shouldnt be a surprise. Many Fascists were originally socialists who saw the flaws in that system but wanted to retain govt power while actually having an economy that performed.

I'd be interested to see where you got 20%, because I've only ever read information to the contrary, roughly along the lines from the Wiki link below.

http://en.wikipedia.org/wiki/Unemployment

FDR's plans did decrease unemployment significantly, from a high of 25% to 10% (considering we didn't enter the war until the end of 1941 we'll include all of 1941). That is a significant achievement. Even if we took it to 1940, with 14.6%, that is a 41.6% decline.

Considering the size and scope of the agricultural sector and the massive displacement in that sector, a huge amount of labor had to be transitioned into other fields, which takes a significant amount of time and effort.

 

[SMOGZINN]

Originally posted by: LegendKiller
FDR's plans did decrease unemployment significantly, from a high of 25% to 10% (considering we didn't enter the war until the end of 1941 we'll include all of 1941). That is a significant achievement. Even if we took it to 1940, with 14.6%, that is a 41.6% decline.

Considering the size and scope of the agricultural sector and the massive displacement in that sector, a huge amount of labor had to be transitioned into other fields, which takes a significant amount of time and effort.

While I'm never an advocate of increasing the size of government, I have to say that even if you believe that FDR's programs did not help the depression economy you have to admit that it gave us the tools to leap ahead of the rest of the world when our economy finally did recover.

I personally believe that once a society stops planning big long term projects and only looks to what can be done now, then that society is doomed. The greatest strength of a society is the ability for continuity. We have stopped looking long term, we only want to pass bills or fund projects that will fix the problem we face right now or have the possibility of paying off next year, and never even consider long term fixes or goals.

That is what is really wrong with the entire bail out program, it is a short term fix that never even considers real long term solutions, and therefore no matter how we do it, who we give the money to, or with what oversight, we will end up facing this problem again in the not too distant future.

 

[BigDH01]

Originally posted by: SMOGZINN

Originally posted by: LegendKiller
FDR's plans did decrease unemployment significantly, from a high of 25% to 10% (considering we didn't enter the war until the end of 1941 we'll include all of 1941). That is a significant achievement. Even if we took it to 1940, with 14.6%, that is a 41.6% decline.

Considering the size and scope of the agricultural sector and the massive displacement in that sector, a huge amount of labor had to be transitioned into other fields, which takes a significant amount of time and effort.

While I'm never an advocate of increasing the size of government, I have to say that even if you believe that FDR's programs did not help the depression economy you have to admit that it gave us the tools to leap ahead of the rest of the world when our economy finally did recover.

I personally believe that once a society stops planning big long term projects and only looks to what can be done now, then that society is doomed. The greatest strength of a society is the ability for continuity. We have stopped looking long term, we only want to pass bills or fund projects that will fix the problem we face right now or have the possibility of paying off next year, and never even consider long term fixes or goals.

That is what is really wrong with the entire bail out program, it is a short term fix that never even considers real long term solutions, and therefore no matter how we do it, who we give the money to, or with what oversight, we will end up facing this problem again in the not too distant future.

Our economy pretty much depends on not worrying about the future. We are trying to redistribute as much wealth as we can from the future to the present.

 

[brandonbull]

Originally posted by: Slew Foot
Id prefer for all the idiots to get kicked out of their homes so that they can return to reasonable prices. And the stupid banks that lent the idiots money that they couldnt pay back should shut their doors too.

Screw that. I'm upside down on my mortgage. My home value has went down ~30% in 2 years.