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Old 09-19-2008, 09:26 AM   #31
Buzglyd
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Originally Posted by acecycleins View Post
I just don't understand why people are so blind to what's happening and going to happen as this all goes down. It's such a bad idea to help struggling, privately or publicly owned companies. Failure because of bad management practices is not a reason for goverment bailouts. If it were then you'd never see companies file bankruptcy. They'd just wait for the gov't cheese.
The US auto companies are going to be in line for the next bailout.

It's the gov't we get when we think the gov't can "do" something for us.

Just take a look at how many of the members of Congress are attorneys and you'll have your answer to all these issues.
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Old 09-19-2008, 09:27 AM   #32
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And another thing! A buddy of mine (who happens to be a "cough" attorney) was telling me about this other attorney who has a website that purports to help you "save your home" from those evil foreclosure meanies.

You basically pay this guy a down payment and monthly fee (which is way less than your house payment of course) and he ties the whole thing up in court with the Trustee and you get to live in your house for another two years or so without making a house payment.

My buddy says this guy is raking in $80,000 a month doing this shyt.
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Old 09-19-2008, 09:39 AM   #33
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"The US auto companies are going to be in line for the next bailout. "

The government is already loaning GM money to develop their 'green cars'. After those flop, the bailout is next in line. Dumb asses.
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Old 09-19-2008, 09:42 AM   #34
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At least one candidate is figuring it out.

Politics News - McCain says Fed should stop government bailouts
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Old 09-19-2008, 11:03 AM   #35
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Freddie and Fannie were thick with Clinton cronies- so, you liberal whiners can't blame the republicans on this.
Kirk, over a decade of a Republican controlled Congress, and almost a decade of Republican Congress and Executive, and you're blaming Clinton? Not to mention that John McC is one of the Keating 5, the original krispy banking scandal in modern history.

This crisis, and the oil crisis, is beyond partisan politics, or at least they should be. That's one of the biggest problems we have, there is no sense of national unity and purpose, we've been polarized by both sides to the point where nobody has a sense of responsibility; it's grab the cash and run and leave the mess for tomorrow. Even if we disagree on what to do about it, it would be great if we'd agree to attack the problems with unity.
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Old 09-19-2008, 11:18 AM   #36
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"This crisis, and the oil crisis, is beyond partisan politics, or at least they should be."

I agree. Both parties are responsible for this mess. Th unfortunate part is all we will be hearing form the Obama camp is how all this is Bush's fault, and by proxy, is now McCain's fault. I'm already turning off the TV because these political ads on both sides are making me sick.
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Old 09-19-2008, 12:22 PM   #37
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"The US auto companies are going to be in line for the next bailout. "

The government is already loaning GM money to develop their 'green cars'. After those flop, the bailout is next in line. Dumb asses.
They're already half a TRILLION "in the hole" - what's another $250B or so?
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Old 09-19-2008, 01:19 PM   #38
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They're already half a TRILLION "in the hole" - what's another $250B or so?
Not to mention $3,000,000,000,000 bucks down the drain in Iraq. I wish we'd used that money back here. A nuclear power plant costs about $3,000,000,000 to build, so that would cover about a thousand of the damn things...make it 250 plants (5 per state!) and use the other 3/4 trillion for hydrogen distribution systems and power grid upgrades.
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Old 09-19-2008, 02:05 PM   #39
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"Kirk, over a decade of a Republican controlled Congress, and almost a decade of Republican Congress and Executive, and you're blaming Clinton?"

Yep- Clinton and the dems controlled congress in 1992. It was that timeline that Clinton actually installed his buddies into the Exec positions in Fannie and Freddie. These guys took a mortgage system that worked for half a century and changed it all in the name of "fairness" to the lesser qualified. If this change in practice never occured then we would not be here complaining about it. Regardless of your polictical position currently, it was a series of changes that happened 15 yrs ago that crashed out financial sectors today. Did the Republicans do anything to address the impending situation? NO. They would have lost the battle with John Q Public trying to explain that it was all a huge mistake to allow it to happen in the first place. But, yes, it was Clinton and the dems that forced a change in the mortgage industry that caused this train wreck.
Other than that- AIG got caught by management issues. These boneheads believed the system was sound and bought up securities in these motorgage companies. They should have seen the writing, but I guess it was ignored.

BTW- I actually voted for Clinton the first time around. I, like many others believed. It wasn't until 1996 that my view-point was altered.
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Old 09-19-2008, 02:54 PM   #40
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"Kirk, over a decade of a Republican controlled Congress, and almost a decade of Republican Congress and Executive, and you're blaming Clinton?"

Yep- Clinton and the dems controlled congress in 1992. It was that timeline that Clinton actually installed his buddies into the Exec positions in Fannie and Freddie.
I disagree. I think the original f-up, by a Democrat, was when LBJ privatized it in the 60's to finance the Vietnam War. It may well be that Billah put his cronies in charge, but, where the fu<k were the bank regulators, auditors, and all the other checks that we're supposed to have over the past decade that this crises has been building? Apparently all the restraints and good business practices were tossed out the window, and nobody called them on it. You'd think that somebody in the FDIC, SEC, Justice Department, etc. would have been looking, but no, the attitude was let's all make a pile of money and let it ride. This seems especially obvious when you're talking about institutions that represent 46% of the total national debt, and that control 90% of the secondary mortgage market.

I don't care if Clinton put Bozo the Clown in charge, the Federal Government should have been paying attention. And, if you knew up front that Clinton had put his cronies in charge, wouldn't that be all the more reason to watch them like a hawk? Except they didn't want to, they wanted to create this false economic boom and make the bucks, tomorrow be damned.
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