Well, I don't know VegasRider.....that is starting to sound an awful lot like a democracy to me.
I say "no way" to the bail out!
- Thread starter Oscar54
- Start date
Well, I don't know VegasRider.....that is starting to sound an awful lot like a democracy to me.
- Joined
- Jul 26, 2007
- Messages
- 1,358
- Reaction score
- 12
- Points
- 0
- Location
- North Central Florida
Well, I don't know VegasRider.....that is starting to sound an awful lot like a democracy to me.
if you want a democracy you will need to move to a different country.... The United States of America is a REPUBLIC
if you want a democracy you will need to move to a different country.... The United States of America is a REPUBLIC
The Republic of the United States....does have a ring to it.
GodSpeedLuc
Member
apparently, looks like the bail out will indeed be "way". interesting that they wanted to have it complete before the Asian Markets open up tonight in order to see their reaction.
if you want a democracy you will need to move to a different country.... The United States of America is a REPUBLIC
Sounds about right.
pooty
Senior Member
anyone watch sixty minutes? apparently the wall street guys knew this was coming. they were e-mailing each other two years ago talking about the collapse. why wasnt it addressed then? i guess because they wouldnt be able to unload it on us the american people.
GodSpeedLuc
Member
^ i saw it and was surprised to hear about that too!
hardcore84
Junior Member
Check your sources...that is roughly the DOD budget as a whole per day. This means paying my salary while i'm in the states on home station riding my FZ6 on the weekends. Include in that any branch of the DOD that respond to natural disasters in the states and the war in Afghanistan.
Cuba
Junior Member
The levels of ignorance here are truly frightening. Not bailing out the companies holding bad debt will crash the economy. Congress just rejected the plan, Dow is down 525 points as I write this. We are in huge trouble. Blaming a political party for this mess is idiotic. The Clinton Administration removed the barriers that started this mess, with a Republican Congress. The Bush Administration has urged Congress to act 17 times and they (the Democratic Congress) has not. It was profitable for EVERYBODY to allow this to continue. It created jobs, it created wealth, it created opportunity to buy a house that you can't afford, it inflated the economy, and now we will all pay for congress's complete failure to act either before or after the fact.
For those of you complaining about the cost that you have somehow estimated at $10K per household, this is an absurd statement. The "evil rich people" who pay 90% of this country's taxes would have been handling most of that for you. Also that cost is based on a total loss of all monies invested in bad debt, an impossibility. More than likely this would have been a profitable venture for the US government (us taxpayers) over a 10 year period. Mute point now folks, they rejected it and now we're f*cked!
For those of you that are arguing against a bail out, I hope you don't have a 401K, or own your home, or are a small business owner, or wanted to be, or are employed by one, or by anyone in the finance business, or by a company that relies on bank financing, because you're in big f*cking trouble my friends. Seriously. Most of you seem to have absolutely no understanding of what this is going to mean for you.
For those of you complaining about the cost that you have somehow estimated at $10K per household, this is an absurd statement. The "evil rich people" who pay 90% of this country's taxes would have been handling most of that for you. Also that cost is based on a total loss of all monies invested in bad debt, an impossibility. More than likely this would have been a profitable venture for the US government (us taxpayers) over a 10 year period. Mute point now folks, they rejected it and now we're f*cked!
For those of you that are arguing against a bail out, I hope you don't have a 401K, or own your home, or are a small business owner, or wanted to be, or are employed by one, or by anyone in the finance business, or by a company that relies on bank financing, because you're in big f*cking trouble my friends. Seriously. Most of you seem to have absolutely no understanding of what this is going to mean for you.
AJ_rider
Published FIZZER
urbanj
Junior Member
Fiduciary Obligation!! Enforce this!!! That would then not make an organization as a whole responsible but the men running them. I guarantee there would be many wall street suicides if this was done. As for now, these guys got the millions in the bank with zero debt and they can sit back and ride it out.
I'm glad Canada has learned from this, we no longer offer 40 year and 0 down mortgages. Which is why our housing market is slowing but it's still ok. It just means the people that had no right owning a home in the first place, can't own a home. I'm more worried about the now inevitable North American Union.
GodSpeedLuc
Member
speaking of sixty minutes on sunday night. that collider machine is freaking crazy. something's up that all these physists know all about and we wont fully understand until it does happen.
OK, I'm listening or are you going to keep your reasons to yourself?
BTW, this situation has nothing to do with dumbing down anything or rewarding mediocrity or any of that other balony to distract from the point that all these Bums at the top had to do was not make unverified asset and income mortgages the norm or qualify people based on below market tickler rate ARM's when they would not qualify at market rates.
The Executives of these companies did create the housing bubble, PERIOD!!! There could not have been a housing bubble without the free wheeling credit standards they set, not the borrower!
A few bad apples!:rof:
(Note to Conservatives: Please put on your helmets before reading the following. You'll understand!)
Also, I have heard that this whole mess was created by Alan Greenspan, by dropping interest rates to 1% to stimulate home construction to keep the economy from cratering from the Iraq war before the 2004 election to help Bush get re-elected!:cheer:
- Joined
- Jun 25, 2007
- Messages
- 538
- Reaction score
- 16
- Points
- 18
- Location
- 6 Blocks from Fenway
I don't know, maybe for a while. But I'd bet that we will continue to see massive consolidation in the financial sector, foreclosures to continue and real estate to fall back to real values, and yes, a troubled market for a few years, only to steadily come back with its real value. Is that worth the price of rejecting a socialist deal now that just stalls the inevitable? Don't forget, someone's going to profit from this, be it the government (profiting off you), or Joe Blow that gets a good deal on a foreclosed home. And if you're not planning on dipping into your retirement in the next 3-5 years then you'll be fine.
Also, for the Dems on here that objected to the bailout, don't thank your politicians:
Democrats: 140 Aye (60%), 95 Noe (40%)
Republicans: 65 Aye (33%), 133 Noe (67%)
Still think Republicans are still all about protecting the "greedy rich people"?
Last edited:
Well like I said, the decision to bail or not to bail, any decision will not make everyone happy based on their own current financial status. Not everyone is in the same financial category, therefore it's difficult to come up with a fair solution. Everyone's is trying to save their own ass.
Some people don't have a 401k, or even own a home, or own their own business, or have good credit or have investments. So these people will have a very difficult time understanding or at the very least, to ever know what the feeling is to lose so much value on the things they worked so hard to acheive or inherit. While others will have diffucutly on understanding how the other half of the population can go on living without ever owning a home, or have a 401k or any investments, etc.
Last edited:
GodSpeedLuc
Member
this whole issue did not initially start from Bush and his re-election. it started way before that. He may have worsened or perhaps it may have been inevitable. who knows.
for anyone who is unsure, watch this video for answers: [ame="http://www.youtube.com/watch?v=NU6fuFrdCJY"]YouTube - Burning Down The House: What Caused Our Economic Crisis? V2[/ame]
FzPilot
Junior Member
-777.68(-6.98%) Dow 10,365.45
-199.61(-9.14%) Nasdaq 1,983.73
-106.85(-8.81%) S&P 1,106.42
Once you, your brother, mother and sister loose their job and are unable to put food on the table, maybe then you'll understand how important that 700B was.
But for now go on, argue away...
-199.61(-9.14%) Nasdaq 1,983.73
-106.85(-8.81%) S&P 1,106.42
Once you, your brother, mother and sister loose their job and are unable to put food on the table, maybe then you'll understand how important that 700B was.
But for now go on, argue away...
oldtimer
Oh Noes!!
I dont know how many of you know this, but years ago (circa 2003) congress passed an act to INCREASE subprime loans so more Americans can have the "Dream".
Congress is a bunch of :Flip: idiots.
Alan Greenspan is a :Flip: idiot for keeping the interest rates so low for so long.
Had Greenspan (the :Flip: idiot) raised interest rates, money would not have been so easy to lend to dumb & poor americans.
Homeownership isn't a right of passage. You have to "work" for it.
I put the blame fully on Congress and Alan Greenspan.
Also some of you need to spare the drama. Just because a handful of FINANCIAL institutions are failing doesn't mean your mom, dad, etc are losing their jobs. There are PLENTY of companies doing well. The companies that aren't doing so well? Their own fault for mismanaging their debt and companies. Time to become a statistic. Those that lose their jobs? Guess what? They probably were dead weight to begin with and needed to lose their job for NOT doing their job.
As for local govts not being able to collect enough property taxes due to foreclosures and therefore the budgets are underfunded? Here's a notion: Cut the budgets!!
Americans love to come up with reasons why they need more and more money. How about doing MORE with LESS?
Wasteful govts and wasteful Americans will bring the pain onto themselves. Those of us who are responsible will finally get the last laugh. Maybe these idiots can learn something from us, eh?
PS. I own two homes. Both homes? I couldn't sell it for what I bought it. I also own a 401k that has tumbled like crazy. I'm against the bailout - do you know why? I took the risk in buying the homes. I took the risk by putting money into a 401k instead of a CD or savings acct. I took the risk. Am I screwed because of this credit crisis? Do I stand to lose a lot if the bailout fails? YES, but I'm not holding my hand out because I am on the losing end of taking a risk. I hold myself accountable. It's a shame no one else does.
Another good example of people not focussed on solving problems, but pointing fingers: Butch Dyke Nancy Pelosi makes a farking speech about "failed Bush policies", etc right before a House vote? WTF is she doing? How about dip**** Nancy stop wasting time on writing speeches that points fingers and find a ficking solution you worthless beoytch!.
I feel so much better.
Congress is a bunch of :Flip: idiots.
Alan Greenspan is a :Flip: idiot for keeping the interest rates so low for so long.
Had Greenspan (the :Flip: idiot) raised interest rates, money would not have been so easy to lend to dumb & poor americans.
Homeownership isn't a right of passage. You have to "work" for it.
I put the blame fully on Congress and Alan Greenspan.
Also some of you need to spare the drama. Just because a handful of FINANCIAL institutions are failing doesn't mean your mom, dad, etc are losing their jobs. There are PLENTY of companies doing well. The companies that aren't doing so well? Their own fault for mismanaging their debt and companies. Time to become a statistic. Those that lose their jobs? Guess what? They probably were dead weight to begin with and needed to lose their job for NOT doing their job.
As for local govts not being able to collect enough property taxes due to foreclosures and therefore the budgets are underfunded? Here's a notion: Cut the budgets!!
Americans love to come up with reasons why they need more and more money. How about doing MORE with LESS?
Wasteful govts and wasteful Americans will bring the pain onto themselves. Those of us who are responsible will finally get the last laugh. Maybe these idiots can learn something from us, eh?
PS. I own two homes. Both homes? I couldn't sell it for what I bought it. I also own a 401k that has tumbled like crazy. I'm against the bailout - do you know why? I took the risk in buying the homes. I took the risk by putting money into a 401k instead of a CD or savings acct. I took the risk. Am I screwed because of this credit crisis? Do I stand to lose a lot if the bailout fails? YES, but I'm not holding my hand out because I am on the losing end of taking a risk. I hold myself accountable. It's a shame no one else does.
Another good example of people not focussed on solving problems, but pointing fingers: Butch Dyke Nancy Pelosi makes a farking speech about "failed Bush policies", etc right before a House vote? WTF is she doing? How about dip**** Nancy stop wasting time on writing speeches that points fingers and find a ficking solution you worthless beoytch!.
I feel so much better.
Last edited:
D-Mac
Distance Rider
I hate the bail-out, but I also hate the prospect of losing my job, watching my wife lose her job, losing my retirement savings, and losing the savings for my kids to go to college. I make my payments every month, live within my means, and I know no one is gonna bail out me. That said, I think that a lack of bail-out could actually cost me more and cost a LOT of hardworking people their livelihoods.
If I could see a rational plan for what might happen if we skipped the bail-out, I'd feel better. If it means more pain for most regular folks, I'd rather just stomach the bail-out and move on.
I have a sinking feeling we're about to go over a cliff..... I phoned my grandfather last night (he's in his late 90s) because I figured it might be time to learn more about the Great Depression. Pretty shocking stuff. He suggested I start saving food and hoarding gold
If I could see a rational plan for what might happen if we skipped the bail-out, I'd feel better. If it means more pain for most regular folks, I'd rather just stomach the bail-out and move on.
I have a sinking feeling we're about to go over a cliff..... I phoned my grandfather last night (he's in his late 90s) because I figured it might be time to learn more about the Great Depression. Pretty shocking stuff. He suggested I start saving food and hoarding gold
That last statement brings up a great fundamental point: Too much time is wasted on pointing fingers and not enough time is spent focusing on solutions. I was curious about this and started a government ideas thread to get input on solutions for government. I was very pleased to get some great feedback. The other side to this coin, though, is accountability. The doomsayers are missing the point that sure it will get bad - it always gets bad for working class Americans when our corrupt system fails, BUT - the people who stole from the American taxpayers and created all these problems need to be held accountable and punished. Maybe we need to re-evaluate the issue that having our countries economic structure based on gambling system is not such a good idea. There is a good use for focusing on new ideas.