...and why isn't inaction an option? The banks fucked up and essentially we're saying "hey, you guys took advantage of tons of people and failed because of it, here is nearly a trillion dollars". Let them fail. Really, the optimal solution right now would be to issue a stimulus check to those with foreclosure problems, which could also stimulate the economy. Before you mention it, I realize that this goes against what my candidate is saying but believe it or not, some people actually think for themselves still.
UGH!! This still sounds wrong to me. Why do I wish to give my money or any money to the Jackoff that couldn't afford his mortgage to begin with? That's what it sounds like to me.
I agree with you. I don't really approve of any sort of stimulus, but if we are going to spend 750 billion, that's the best way I can see. Maybe use the money as a tax incentive for businesses? Or hell, what if we do nothing?
I've got no issue with raising the $100,000 FDIC limit since it was introduce back in what, 1980? Inflation and fluctuations in housing prices has happened sine then. As per the whole issue, I think a stimulus and bailout is the wrong idea. We need to re-regulate a lot of the industry, limit the amount of lending to capital, and I really like the bankruptcy idea posted in the other thread. If members of the public were up to their ass in bad investments there wouldn't be a government bailout, why should it be any different for corporations? As for the "Jackoff" not being able to afford his mortgage, the fault really fails on the lending institution for giving him a loan that he couldn't afford. They made a mess and they need to suffer the consequences. Quoting for stupid.
I think this a big, big, problem that leans toward an ideology. Do you have just a general hatred for rich people or big business? You and some others want to punish the lending institutions only and not the "Jackoff" that signed on the dotted line. You're blaming the enabler and not addict in this case. Sure, the mortgage companies are at fault and need to be dealt with but, ultimately the majority of the blame lyes with the person that tried living way beyond their means.
I keep hearing McCain talking about reaching across the isle and how no ones working together. And is the house not passing a bill that was proposed that quickly really a "failure to act"? More on the same: YouTube - McCain: "I always aspire to be a Dictator"
Um, I guess it could be an ideology thing but that's not the point I was making. They made a loan to a high risk individual and in the end get burned when they defaulted. They knew the risks when lending the money out and shouldn't be bailed out.
We're in TOTAL agreement on that statement. I just don't think we need to cut a check to that "High Risk Individual."
Shit, Sonic is having problems? IMIDIATE ACTION REQUIRED! lol, you’d think he could come up with a better examples then that Seriously though, I don’t think most of you guys are really grasping the repercussions of the major banking institutes and insurers in the US falling would have on all of your lives. I made a post in the mega thread, but I’ll try to go into more detail when I have more time, its not a pretty picture. FDIC insure is a joke IMO, it’s a smokescreen that gives people a false sense of security. If there is a situation where it actually required on a large scale, a 100 grand’s probably going to get you a couple loaf’s of bread. Where do you think the Gov is going to get all that money from?
People need to learn to take responsibility for their own actions, lenders and loanees alike. Ps- first post from phone, first post from work and first post from the crapper! Woooo!!
First!!! The way i look at it, is personal as well as corporate responsibility need to be taken. Fuckin ups were made, let the fucks that fucked up get fucked! I fucked up and am dealing with it without bankruptcy (yet). get over it, take resposibility, tear the shit down and lets start over. The system is briken and needs fixed. if a bailout happens, absolutelt nothing will change for long and everyone knows it. So why the hell throw 3/4 of a trillion hard earned dollars at it? I mean seriously why do it if it's not going to do any good? It's already not pretty for alot of us....who didn't buy into the easy credit rip-offs (BTW), but get to pay the price anyhow. I was responsible, paid my bills on time, had no overlimits, but paid the price for the one's who defaulted on thier loans because profit margins simply had to be maintained. How come when us guys at the bottom of the ladder say that the shit is hitting the fan, it's our fault, we're "irresponsible". But when the shit spatter starts effecting everyone further up the ladder, then all of a sudden it's a "crisis"? i don't "hate corporations, i don't "hate" rich people. i do, however, "hate" greed and now everyone gets to see why. sidenote: Howdee succubus!
its not fair, but it is what it is. the problem is the magnitude. If Joe public goes bankrupt its a tiny minuscule spec on a few banks balance sheets, no one notices but the guy having the hard times. When it happens on a multi corporate level, the repercussions will be felt by everyone, guilty or not. When it’s a personal bankruptcy, your credit it shot and your slate is basically wiped clean, the banks take the hit. When a small business goes bankrupt its felt by a few of the employee’s, maybe some of the people who delt with the company, but its mostly unnoticed and the banks take the hit. When the biggest banks and insurers in your country start going under, there isn’t anyone but the Gov, and ultimately the tax payer who takes the hit in some way shape or form. That’s the difference. Lets say if the vast majority of Americans managed to declared bankruptcy on the same day, it would have the same effect as what your seeing today, it would crash the banks and we would be in the exact same situation.
If the fuck ups can't pay their mortgage and the fuck ups can't make a smart loan decision then how the hell are they going to pay or fix anything?! I would love to turn my back on all this crap and feel good that I was a good boy and made smart decisions, unfortunately though all of this crap is going to affect me directly, whether it's lowering my home value, causing inflation, or hurting my pay check because my company lays me off or because no one is buying anything. So I'm looking for a solution and one that minimizes it's impact on me in a negative way and one where the people/businesses that caused this mess aren't given shit and one where this kind of crap would be prevented from happening again!
I'm sorry but McCain looks like a complete ass in that video. I have no problem with someone giving a smart ass remark when asked a stupid question but when the question is a good legitimate question then just answer the fucking question! Double digits guys!! I'm predicting it now, McCain is going to lose by double digits this November!! The only people still contemplating voting for McCain is the same 30% that still approves Bush!
