i don't like the idea of bailouts. However, no one seems to report on the conditions of why these companies need money or what their bad decisions were. For instance, I would like to know what innocent parties got screwed by the government run Freddie Mae and Freddie Mac. Amount other failures.
Its easy to bitch and complain about individual bailouts. Unfortunately, our education system in this country is so poor, adults graduating from highschool do not even know the components of a mortgage (maybe not in other countries) and the media rarely does any investigation anymore, unless the NYT found something to what will hurt our national security.
Changing mind mid-stream is bad! You should have thought how this is supposed to ride out from the get go. This bailout thing will not stop. Since we opened the floodgates lastyear for gov't bailouts, now not a single company wants to make money the hard way. They've realized it's far easier just to travel to DC with your hat in your hand! Citi Group on a "THIRD" request for a bail out! Do you sincerely believe they will stop asking until someone says "NO"? Especially now BHO is asking for another 750B in banks bailout! If you believe they'll stop asking on their own, you need to get off that pipe!
nobodyknows
Diamond Member
- Sep 28, 2008
- 5,474
- 0
- 0
The exec's at thes coporations don't deserve to be making millions and millions of dollars in compensation for screwing the pooch. They should go on the same welfare rolls as the others you speak of.
TastesLikeChicken
Lifer
- Sep 12, 2004
- 16,852
- 59
- 86
It's no caricature that I've constructed. All one has to do is read this forum and the truth of what I stated becomes self-evident. The left have built this caricature all on their own. If you don't like it and feel differently then speak up when it rears its ugly head and help tear it down instead of remaining mute, thereby allowing it to perpetuate.
btw, I said "lefties," not liberals. Another point this forum demonstrates is that not all lefties are liberals. Some of the lefties are so far left they are as far from being liberals as the righties, just in the opposite direction.
Did any of you see the story in today's NY Times about Harvard's endowment fund? It's lost 30% of its value!
Now, when you consider the number of Ivy Leaguers in the government, and you consider the possible future losses to many Ivy Leaguer's university endowments, you see one of many reasons why it's so easy for congressmen to vote to bail out these companies, and their alma maters. If they didn't, a boatload of equity firms, hedge funds, AIG, etc. would go under and the college endowments would be nearly wasted. Harvard engaged in very speculative high end trading and made some truly stupid blunders, but they have friends in high places.
Ditto for a lot of pension funds, IRAs, and mutual funds.
Though a lot of the Republicans are publicly opposing the bailouts, many are, I'll bet, in favor of them for the foregoing reasons.
-Robert
Now, when you consider the number of Ivy Leaguers in the government, and you consider the possible future losses to many Ivy Leaguer's university endowments, you see one of many reasons why it's so easy for congressmen to vote to bail out these companies, and their alma maters. If they didn't, a boatload of equity firms, hedge funds, AIG, etc. would go under and the college endowments would be nearly wasted. Harvard engaged in very speculative high end trading and made some truly stupid blunders, but they have friends in high places.
Ditto for a lot of pension funds, IRAs, and mutual funds.
Though a lot of the Republicans are publicly opposing the bailouts, many are, I'll bet, in favor of them for the foregoing reasons.
-Robert
ebaycj
Diamond Member
- Mar 9, 2002
- 5,418
- 0
- 0
If you are making 250k, and you are bitching about the tax increase of $40 per $1000 (over $250k) earned, you have some serious money mismanagement problems.
Yes that is accurate. $40 more in tax on $1000 earned. (4% marginal rate increase from 35% to 39%. 4% of $1000 is $40). You are bitching about nothing.
If you really hate it so much, why not just stop making money past $250k, then you will only be paying your 35% marginal rate? Oh right.... Because:
(a) making money is easier when you have money to begin with, so you probably didn't have to work very hard for additional income, you probably derived it from letting your money work for you.
and
(b) you are still taking home $610 of every additional $1000 earned. Basically, if it made sense for you to continue earning at a 35% tax rate, it will still make sense for you to continue earning at a 39% tax rate.
Quit whining.
Um...which would you personally value more? Your (up till now) American freedoms and rights as a citizen or the idea that "the bad guys are gett'n what's com'n to them". Well, I hate to say it, but, wait until it's you. By the way, well before tany bailouts to AIG were made, Tim Geitner knew all about the bonuses to be paid to AIG personnel. It just serves the President and his men so well to spin the story the way they are. I mean..."class envy" is a very useful tool. All the better to throw more dirt with too, by the way. hmmmm And also, just for the record...I don't think we needed to bail out anybody. But, that too is serving Obama and his men well...just look at all the good stuff they control now. How would you like it to be your company that's next?
Siddhartha
Lifer
- Oct 17, 1999
- 12,505
- 3
- 81
I am concerned that the US and world economies will experience a severe deflationary spiral which could cause a deep recession if not a depression that could take decades to recover from. To avoid this from happening, the US will have to do things that it culturally finds distasteful, for example bailing out banks.
Nemesis 1
Lifer
- Dec 30, 2006
- 11,366
- 2
- 0
Originally posted by: JSt0rm01
Well I'm a liberal and I'm better then you in almost every way. I'm bigger, stronger, faster and smarter. We give you the south and all of its southern efficiency, education and bibles. Thats not fair but you aren't allowed to come to the coasts, sorry. But like a parent to a child we will let your states have some of our tax money. We will let you consume that which our intellect and creativity produce. We will let you eat unhealthy foods and drink soda and still fight for universal health care for you. We do all of this because we see you as you are, children whose minds have never fully opened up to their full potential.
You and your superiority . Put ourself on the coast . We screwed up atmosphere Ice caps melting . Don't run from coast . Because well be waiting on ya. LOL!
**** them? No you and the rest middle/lower earning American will be the one who gets ****ed. You think those Wall. St. high flyers are gonna miss out 1 or two years without a job? No, they have been earning millions and they can take a 2 year vacation on some Caribbean Island no problem.
But what happens when AIG fails, and all these investment banks in Wall St. fails because of all the interconnections? Who is gonna help big, medium, small companies raise capitals, issue debt/loans, do IPO, help with foreign exchange transactions, hedge commodity prices? Without capitals, how are companies gonna expand or hire people. How are they gonna handle foreign trades, make sure their raw material don't go 100% more expensive all of the sudden? How do you think this is gonna impact the average Joe with the lack of job, bleak economic outlook and all that? How many average American can afford to be out of job for 3 month, right now?
Oh man here we go with the holier than thou, Puritan, stick up the ass. ego flatulence again. You are what you are totally by accident. Everything you have ever done you had to do, you were driven to do, impelled to do by forced totally unrelated to anything in you of any value. You are a giant accident, an a disgustingly unappreciative one at that. One little vein in your head pops in the right place and you'll be in a wheelchair drooling all over yourself for the next 40 years. Why don't you take your head out of your ass and smell a rose.
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