700 billion Bail out

[Roughneck]

Iam against the american taxpayer paying for any of this.

We're going to be paying for this no matter what, with or without the 700 billion. Whether the bail-out will make it better or worse is up to debate. To think that we wouldn't eventually have to deal with a financial crisis and instead just relive 1992 for the rest of our lives is bold in assumption. It was bound to happen, it's how we deal with it that matters. If you think you're not going to pay for this regardless, you're going to have a rude awakening in a few years.

Are you suggesting that they are gonna bail them self out, through some other subsidy?

What? I don't know how you got any suggestions from what I asked you. My question was clear and simple, yet you seem to presume I'm trying to say these companies are going to bail themselves out.

Better yet, Just let them Fail and let the chips fall where they may, The same way My house was taken.

Okay. If that's what you want, I hope you'll be happier paying even more taxes until you're so broke, you find yourself living in a cardboard box outside the White House crying "we should've taken action!" There is a reason why the Great Depression was so long-lasting. When a government in financial trouble decides deficit spending is a bad idea, they tend to be at the mercy of chance and time. You think if our government decided not to regulate anything (tidbit: lack of regulation is one reason why our financial sector is collapsing) that everything would solve itself without you paying anything?

Boy, wouldn't that be a miracle.

They should have enough money saved up that they dont need a last payday, at My expense before the world economy takes a dump, from their giving away million dollar Raises.

Nevermind the thousands of Americans who were irresponsible and couldn't pay for what they borrowed. So you're saying we should arrest people who take advantage of loose money out there? Well guess what, you're saying we should arrest millions of Americans. I hate corrupt businessmen just as much as the next person, but I also hate people who think they're entitled to loans they won't eventually have to pay for.

The need to go to Jail, not get paid.

You think a punishment isn't going to happen? Or do you think a large-scale corruption investigation takes a few days before arrests can be made? You do remember Enron, right? Perhaps you also realise that when our government owns something, it is regulated as the government sees fit.

we , ahem or our Government

Yes, we- the people who appoint our government.

[Omnaka]

We're going to be paying for this no matter what, with or without the 700 billion. Whether the bail-out will make it better or worse is up to debate. To think that we wouldn't eventually have to deal with a financial crisis and instead just relive 1992 for the rest of our lives is bold in assumption. It was bound to happen, it's how we deal with it that matters. If you think you're not going to pay for this regardless, you're going to have a rude awakening in a few years.

What? I don't know how you got any suggestions from what I asked you. My question was clear and simple, yet you seem to presume I'm trying to say these companies are going to bail themselves out.

Okay. If that's what you want, I hope you'll be happier paying even more taxes until you're so broke, you find yourself living in a cardboard box outside the White House crying "we should've taken action!" There is a reason why the Great Depression was so long-lasting. When a government in financial trouble decides deficit spending is a bad idea, they tend to be at the mercy of chance and time. You think if our government decided not to regulate anything (tidbit: lack of regulation is one reason why our financial sector is collapsing) that everything would solve itself without you paying anything?

Boy, wouldn't that be a miracle.

Nevermind the thousands of Americans who were irresponsible and couldn't pay for what they borrowed. So you're saying we should arrest people who take advantage of loose money out there? Well guess what, you're saying we should arrest millions of Americans. I hate corrupt businessmen just as much as the next person, but I also hate people who think they're entitled to loans they won't eventually have to pay for.

You think a punishment isn't going to happen? Or do you think a large-scale corruption investigation takes a few days before arrests can be made? You do remember Enron, right? Perhaps you also realise that when our government owns something, it is regulated as the government sees fit.

Yes, we- the people who appoint our government.

I did not vote that Bum in to office, No I dont think any of those guys who started war against the americans wish or are trying to bankrupt america will be prosecuted. Ollie North God a radio show, Not Jail.

I suspect you may be gaining something out of the 700 bill deal???

Friends in Low places???

Yeah In a few years They may be locking the other half of america up for not paying their extortion money, and when we are all dead , they can feed off them self untill they have recked everything they can get their greedy Mits on

[IrishAidan07]

ROTFFLMFAO :lol:

How dumb some people are...

[Roughneck]

Aheh. That was actually a really funny post. I'll just go ask that 'Bum' who is the only person in this democratic government to put some money into my pockets and forgive the millions of Americans in financial trouble due to bad credit and tell him to officially change the words 'loan' and 'credit' to 'extortion'. He might even fully eliminate civil rights and prosecute all 300 million of us while he's at it. Ollie North included, because if one person is wrongly-accused of a crime they did not do, then Ollie North should also not get a fair trial- even if he is a wealthy Republican.

[BlindMessiah]

ROTFFLMFAO :lol:

How dumb some people are...

Who in this topic falls under the category of "some people?" Those who want the bail out, or those who don't?

[nickoli]

You know I really was thinking about this today and my life isn't being affected one whit by the financial crisis. Its all the greedy people out there who are going to suffer. I say let the chips fall where they may, there are plenty of resposnsible people that can figure out a way to clean up this mess. I say the credit gravy train is now over and people need to just deal with eating smaller meals and having less. Suck it up and deal with it. The party is over.

Exactly,its only a crisis because the rich played poker with their gross excesses and now its going up in smoke,well too bad for them, I'm really brokenhearted,not. The greedy folks better learn how to survive, clean their own house, cook their own meals and cut their own grass. This crisis does not affect those who have been responsible with their finances and it wont,as a matter of fact I'm currently forming a business and Incorperation with my own money paying my bills feeding my kids and doing just fine. I have always lived below my means,I've never made over $50k a year and my fiance does not work, she stays at home and raises our children. My how the rich are squealing about this non crisis, they cant take my house, I dont care if I lose my job(I'll only lose my job if the business I work for has also been irresponsible) I'll get another one, services and needs will still be met just not by those who gambled with their money and acted irresponsibly, let them sink.

Edited September 27, 2008 by nickoli

[MasterPo]

Funny, when Freddie and Fannie were handing out morgages like balloons at a fair and the numbers of first time home buyers were sky rocketing I didn't notice anyone complaining about all the money making.

[el midgetron]

Funny, when Freddie and Fannie were handing out morgages like balloons at a fair and the numbers of first time home buyers were sky rocketing I didn't notice anyone complaining about all the money making.

Are you talking about Freddie and Fannie "making money"? Because when people get loans to buy homes they don't "make money", they go into debt. Maybe your comment is an example of the mentality that some people blame this mess on?

[MasterPo]

Are you talking about Freddie and Fannie "making money"? Because when people get loans to buy homes they don't "make money", they go into debt. Maybe your comment is an example of the mentality that some people blame this mess on?

Whoever loans the money makes money back in interest and fees. Or do we need a basic banking lesson now?

[CosmicStaR]

Whoever loans the money makes money back in interest and fees. Or do we need a basic banking lesson now?

Mhmm--the rich of the rich are getting wealthier and wealthier due to this "collapse".

Edited September 27, 2008 by CosmicStar

[MasterPo]

Mhmm--the rich of the rich are getting wealthier and wealthier due to this "collapse".

You still didn't answer my question: Why weren't you complaining years ago when Fannie and Freddie were handing out loans to anyone who could sign their name?

[IrishAidan07]

You still didn't answer my question: Why weren't you complaining years ago when Fannie and Freddie were handing out loans to anyone who could sign their name?

Sub prime mortgages and such have nothing to do with why people are angry now?

[Omnaka]

Yes Maybe I need a basic lesson in Banking.

Can anyone tell me why if I make a bad decision and default on My loan and Company or house goes Down the tubes, It's My fault.

But if a million dollar company makes poor decisions on its loan, or defaults Its still my Fault, and have to bail the guy with a million plus, hiden in a swiss bank acct out Of debt, so he can continue his paper shuffle.

Am I missing something here?

Love Omnaka

[el midgetron]

Whoever loans the money makes money back in interest and fees. Or do we need a basic banking lesson now?

No, I don't understand why you would think people should be upset about that? Is it our job to police corporations internal busines? Maybe it should be our job since its our job to take care of them after their over paid doped up CEOs run thier busines into the ground. And if they were actually making all this money you are talking about ......umm why are we bailing them out?

[Omnaka]

Funny, when Freddie and Fannie were handing out morgages like balloons at a fair and the numbers of first time home buyers were sky rocketing I didn't notice anyone complaining about all the money making.

And those who lost their Homes aren't / diden't get bailed out either. It's gone. as should the Rich who gambled and Lost.

IMO

Love Omnaka

[Omnaka]

No, I don't understand why you would think people should be upset about that? Is it our job to police corporations internal busines? Maybe it should be our job since its our job to take care of them after their over paid doped up CEOs run thier busines into the ground. And if they were actually making all this money you are talking about ......umm why are we bailing them out?

Because they can't handle a pay cut for doing nothing???

I wonder the same thing.

Can any pro bailers answer Our questions, with out making it look like the poor people made this mess to begin with?

Love Omnaka

[Roughneck]

And those who lost their Homes aren't / diden't get bailed out either. It's gone. as should the Rich who gambled and Lost.

So a nation that is known to give money to the poor doesn't bail them out? Welfare? Financial aid? Free education? Unemployment pay and services? Family tax benefits? Social Security (though going down the drain, millions have already benefitted from this)? Medicare and Medicaid? What about bankrupcy claims and filings (the rich aren't the only ones who file for bankrupcy)? Lower-income housing? Those cost tax money to process and uphold. A lot of tax dollars, actually.

Let's not forget that the bail-out plan wants to save companies that do have legit business and financial affairs with our country's infrastructure.

Also, I'm wondering, why did you lose your home? What, if any, government programs did you take advantage of to help ease your financial gamble which you lost? It's really none of my business, but you keep bringing it up as a relevant topic, so it's only fair you let everyone know the circumstances of it if you're going to keep mentioning it.

And yes, it's bad when companies like Freddie and Fannie take money from their banks to upsell stocks and put more money in the pockets of stock-owners, but apparently, there were also many customers who were irresponsibly borrowing money they had no way of paying back. So if you want to bail-out the company only if we also bail-out the people who bit off more credit than they could swallow, then I suggest we also punish both as well. After all, by your logic, it's all universal or nothing.

[MasterPo]

I implore you to research the community banking and community reinvestment laws that forced banks to make a percentage of loans to low-income people who would not otherwise qualify for loans. It was said that banks were discriminiated against low income people, never once saying low income means high risk to pay back.

15 years ago I remember listening to a radio show and a guy called in. Said he was a loan officer at a bank in CA. Been in the loan business for 20 years. He said he was being forced to approve loans to people who have no credit history, no assets and in his expert opinion no real hope of repaying these loans. But he had to othewise the bank would be fined by the government.

[SRCivic98]

I voted not to bail them out because then what happens if you invest $700 Billion into Wall Street with the economy the way it is and the Stock Market crashes? Then what huh?! The only thing you would have done is finished off the rest of the american citizen's and families to the point of where we go back to the 1800's and futher on back. I say, let the market crash. Because after that, everything will have no choice than to lower their prices to all time lows, maybe even historical lows. You need to bring it back low so you can go high again, because if not then you, your money, military might, etc. etc. is going to be lost and then you're no longer a super power...you're a speck of dust on the kitchen floor waiting to be swept away.

[Roughneck]

I voted not to bail them out because then what happens if you invest $700 Billion into Wall Street with the economy the way it is and the Stock Market crashes? Then what huh?! The only thing you would have done is finished off the rest of the american citizen's and families to the point of where we go back to the 1800's and futher on back. I say, let the market crash. Because after that, everything will have no choice than to lower their prices to all time lows, maybe even historical lows. You need to bring it back low so you can go high again, because if not then you, your money, military might, etc. etc. is going to be lost and then you're no longer a super power...you're a speck of dust on the kitchen floor waiting to be swept away.

Hey, guess what was a major part of Roosevelt's New Deal? Yep, deficit spending and banking regulations.

[el midgetron]

So a nation that is known to give money to the poor doesn't bail them out? Welfare? Financial aid? Free education? Unemployment pay and services? Family tax benefits? Social Security (though going down the drain, millions have already benefitted from this)? Medicare and Medicaid? What about bankrupcy claims and filings (the rich aren't the only ones who file for bankrupcy)? Lower-income housing? Those cost tax money to process and uphold. A lot of tax dollars, actually.

Ummm, why shouldn't our tax money go to social programs? I would much rather see my tax dollars go to feed some homeless guy in the street then to keep some ahole multi-millionaires job afloat.

[Omnaka]

So a nation that is known to give money to the poor doesn't bail them out? Welfare? Financial aid? Free education? Unemployment pay and services? Family tax benefits? Social Security (though going down the drain, millions have already benefitted from this)? Medicare and Medicaid? What about bankrupcy claims and filings (the rich aren't the only ones who file for bankrupcy)? Lower-income housing? Those cost tax money to process and uphold. A lot of tax dollars, actually.

Let's not forget that the bail-out plan wants to save companies that do have legit business and financial affairs with our country's infrastructure.

Also, I'm wondering, why did you lose your home? What, if any, government programs did you take advantage of to help ease your financial gamble which you lost? It's really none of my business, but you keep bringing it up as a relevant topic, so it's only fair you let everyone know the circumstances of it if you're going to keep mentioning it.

And yes, it's bad when companies like Freddie and Fannie take money from their banks to upsell stocks and put more money in the pockets of stock-owners, but apparently, there were also many customers who were irresponsibly borrowing money they had no way of paying back. So if you want to bail-out the company only if we also bail-out the people who bit off more credit than they could swallow, then I suggest we also punish both as well. After all, by your logic, it's all universal or nothing.

I busted My butt paying 12% loan shark , (Intrest Only), Because I bailed a Buddy Out Of Jail, to fight a case I believed he was inno cent of. He Had holdings in a local Hotell whicgh a Hostle take over while he was in Jail took my colateral and any way of getting my Money Back. I paid The 2500 dollars a month for two years untill it came winter last year And I could not do it any more and the housing Market tanked. I coulds have sold, but no one was buying . My house and Land was apraised at 800, thou, and It got taken.

Now I made a bad choice helping my friend , and Lost my house, due to my own negligence. (No Governmet Grants) You would be lucky To have a friend Like me, I'll be damned If I'm going to pay for a millionair to continuing Making bad choices, Just Like i do not expect to get my house Back. Get it yet!

I pay my Damn taxes and Just like you, support The welfare and every other Program you mentioned with The money make building Houses, Yeah, My company as A contractor, Now I am supposed to take the lender out for dinner and buy him a new car, because he Gambled and Lost ?

Again Iask Why should I , For you?

Get real, what do you do for a living?

PS, My Company Is as * Snip * Legit as any of those which would be bailed out.

We actually make things and Build the houses you live in, not just shuffle money around.

Omnaka

Edited September 27, 2008 by Tiggs
The profanity filters are here for a reason, Omnaka. Please don't purposefully circumvent them.

[Omnaka]

Ummm, why shouldn't our tax money go to social programs? I would much rather see my tax dollars go to feed some homeless guy in the street then to keep some ahole multi-millionaires job afloat.

Or shooting My brother half way around the world.

Love Omnaka

[Omnaka]

I voted not to bail them out because then what happens if you invest $700 Billion into Wall Street with the economy the way it is and the Stock Market crashes? Then what huh?! The only thing you would have done is finished off the rest of the american citizen's and families to the point of where we go back to the 1800's and futher on back. I say, let the market crash. Because after that, everything will have no choice than to lower their prices to all time lows, maybe even historical lows. You need to bring it back low so you can go high again, because if not then you, your money, military might, etc. etc. is going to be lost and then you're no longer a super power...you're a speck of dust on the kitchen floor waiting to be swept away.

Buying stock, is Gambeling. when you go to vegas and Loose your House, or 100 dollars , they don't give you a new house , or another hundred just for playing?

If thats how it goes I would be making Money off the carpenters Back, instaed of using my own..

I Got heart bro.

Who needs to be a super power and Bully the rest of the world? Not me I want to live and Be happy, Never mind controling the world . Hitler wanted to do that, Now it's USA's JOb.

Bs, Killing begets Killing , Buy stocks in weapons and War and You too can be with the Elite of THe lowlifes who profit off your sons Blood.

This is not aimed at you bro I'm just p***ed right now .

I agree with Some of your Post.

Love Omnaka

[IrishAidan07]

Ummm, why shouldn't our tax money go to social programs? I would much rather see my tax dollars go to feed some homeless guy in the street then to keep some ahole multi-millionaires job afloat.

:nw: :nw: :nw: :nw: :nw: :nw: :nw: :nw: :nw: