BeauJangles
Lifer
- Aug 26, 2001
- 13,941
- 1
- 0
Again, you lack a fundamental understanding of the crisis at hand. It isn't "us poor guys" vs. "those rich guys." It's we all sink or swim together.
Again, you lack a fundamental understanding of the crisis at hand. It isn't "us poor guys" vs. "those rich guys." It's we all sink or swim together.
BoberFett
Lifer
- Oct 9, 1999
- 37,562
- 9
- 81
No, the current situation is that we all sink, or the average American treads water while the wealth buy an even bigger yacht and sail off into the sunset.
I think the average American might be getting tired of watching the wealthy buy bigger and bigger boats while they tread water.
So 12mil-5mil=7mil....Awww poor guy
How can anyone survive on only 7 million a year. I feel so bad for these guys.
Originally posted by: cpmer
So 12mil-5mil=7mil....Awww poor guy
That whole thing just went over your head.
We are all praying at the other side of the pond (and I'm agnostic) that this bill will pass on Thursday.
My govt. just partially nationalised two of our biggest banks in the last days because of the credit crisis. We are talking here about PROFITABLE banks that have to be bailed out because they are running out of liquidity. The LIBOR is at all time hights, banks don't trust each other anymore and are hoarding all the capital they can get to strenghten their own capital base.
If the bill doesn't pass, more US banks will go kaput, meaning more writeoffs for European banks that are running out of liquidity. I can see the ECB and EU start their own "bad bank" if the Paulson bill fails because we will have a wave of banks going the way of the dodo if we do nothing. Even some strong European banks like BNP, Rabobank and KBC that don't have much exposure to the US junk mortgages are coming under increased pressure
read what is killing even strong profitable banks
My govt. just partially nationalised two of our biggest banks in the last days because of the credit crisis. We are talking here about PROFITABLE banks that have to be bailed out because they are running out of liquidity. The LIBOR is at all time hights, banks don't trust each other anymore and are hoarding all the capital they can get to strenghten their own capital base.
If the bill doesn't pass, more US banks will go kaput, meaning more writeoffs for European banks that are running out of liquidity. I can see the ECB and EU start their own "bad bank" if the Paulson bill fails because we will have a wave of banks going the way of the dodo if we do nothing. Even some strong European banks like BNP, Rabobank and KBC that don't have much exposure to the US junk mortgages are coming under increased pressure
read what is killing even strong profitable banks
Just wanted to re-open the discussion now that some time has went by.
My take is that all the money being pumped in will do little to contain the deepening of a recession, but is more intended to position those who caused it and the government to swoop in and profit from wherever this takes us to.
Nothing is really in it for the little guys. Only the big banks and brokerages, not the borrowers, not the depositors, not the savers or those who have money in money market accounts.
This is really a wealth transfer from the Governments of the world to the Leading Financial companies, who still will foreclose on millions of homeowners, charge incredibly high interest rates on unsecured debts and have no mercy on those who are in over their head.
Was something needed? Yes, but does that make the way it has been done right? I don't think so. Those who caused the crisis are the ones being bailed out, those who have been hurt by the crisis that were not responsible end of getting the shaft.
This could have been done better.
The Stain
My take is that all the money being pumped in will do little to contain the deepening of a recession, but is more intended to position those who caused it and the government to swoop in and profit from wherever this takes us to.
Nothing is really in it for the little guys. Only the big banks and brokerages, not the borrowers, not the depositors, not the savers or those who have money in money market accounts.
This is really a wealth transfer from the Governments of the world to the Leading Financial companies, who still will foreclose on millions of homeowners, charge incredibly high interest rates on unsecured debts and have no mercy on those who are in over their head.
Was something needed? Yes, but does that make the way it has been done right? I don't think so. Those who caused the crisis are the ones being bailed out, those who have been hurt by the crisis that were not responsible end of getting the shaft.
This could have been done better.
The Stain
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