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  1. #11
    Content. Content? DigitalMethod's Avatar
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    Quote Originally Posted by BlackOp View Post
    Anyone care to chime in? I dont feel like paying 700 billion for the parasites of our species. The stock market is risk.......you gamble and lose, its your choice....not mine.
    Hmph, all too often people go into the risk accepting the reward yet rejecting the loses.

    As for me?
    Pay some dude to figure out what is best for our country and it's citizens in the long run. Which I think would be helping - everyone - not just main street and not just wall street. Although probably more of it should go to main street.

    (AKA: Totally clone Franklin or Jefferson to get this crap under control.)
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  2. #12
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    Quote Originally Posted by BlackOp View Post
    Anyone care to chime in? I dont feel like paying 700 billion for the parasites of our species. The stock market is risk.......you gamble and lose, its your choice....not mine.
    Hahaha! You funny!

  3. #13
    ⒺⓉⒷ Eric B's Avatar
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    Quote Originally Posted by Not_Me View Post
    I'm generally in favor of the free market ideals, but things like this makes me wonder whether we truly have a capitalist system. We couldn't even depend on corporate leaders to act in the interest of the corporation. Instead, CEO's treat their tenure as a short term opportunity to suck wealth out of the system. They have no interest in the company's long term welfare. Their sole objectives is to meet short term goals in order to pocket their obscenely high bonuses.

    They have created a situation where if we allow their companies to fail, the consequences for the rest of us would be devastating. So we pay for their recklessness and the executives get rewarded.
    Well, for 30 years the country was swayed: that this WAS true "free market capitalism". In contrast to that god-awful socialist system. Don't tax or get jealous of those at the top. They all worked hard, pulled up their bootstraps and earned it. and if we reward them (instead of those good-for nothing lazy poor [and more recently, illegal aliens], with the "liberals" and their "socialist" "spending programs"), then they, being as "ethical" as they are (since they honestly earned it all), will invest it back into the economy, and then we'll all prosper.

    This is what people believed, swayed by the campaigns and all of the other conservative voices (Rush, etc). Now we're seeing these these fat cats are not the economic saviors we thought they were. They too are just as greedy as any socialist or other foreign enemy or domestic criminal.
    But I guess now, people's recourse will just be to find yet another way to blame it on the left.
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  4. #14
    meh Salomé's Avatar
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    Capitalism has consumed itself.

    Alternatives please.

  5. #15
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    A pyramid can't stand when the base is a minuscule fraction of what it is holding up. As the rich get richer and the poor get poorer, the pyramid's foundation gets ever shakier, and then the point comes where the base can't handle it anymore.

    How could the pyramid turn out like this in the first place? The blueprints were fundamentally flawed.

  6. #16
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    Quote Originally Posted by Didums View Post
    A pyramid can't stand when the base is a minuscule fraction of what it is holding up. As the rich get richer and the poor get poorer, the pyramid's foundation gets ever shakier, and then the point comes where the base can't handle it anymore.
    And what's so wrong with that? You aren't happy with the differential, and it isn't as if all the super-rich are going to start LOSING money through some minor legislation, so why not speed up the process of increased "unfairness" until there's constant fighting in the streets by way of some communist revolution.

  7. #17
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    Quote Originally Posted by Jack Flak View Post
    And what's so wrong with that? You aren't happy with the differential, and it isn't as if all the super-rich are going to start LOSING money through some minor legislation, so why not speed up the process of increased "unfairness" until there's constant fighting in the streets by way of some communist revolution.
    We have to let it topple over by itself and make new blueprints to start anew. If we were to aggrevate it, the hostility after the collapse would be greater than necessary and potentially harmful, were it to just fall on its own we would understand that it was flawed to begin with, but to push it over would lead some to believe that it was the fault of some group and that it was fine to begin with, and it would get rebuilt the same way.

  8. #18
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    Default Bailout = American Socialism For The Rich

    Bankruptcy, not bailout, is the right answer

    This bailout was a terrible idea. Here's why. The current mess would never have occurred in the absence of ill-conceived federal policies. The federal government chartered Fannie Mae in 1938 and Freddie Mac in 1970; these two mortgage lending institutions are at the center of the crisis. The government implicitly promised these institutions that it would make good on their debts, so Fannie and Freddie took on huge amounts of excessive risk. Worse, beginning in 1977 and even more in the 1990s and the early part of this century, Congress pushed mortgage lenders and Fannie/Freddie to expand subprime lending. The industry was happy to oblige, given the implicit promise of federal backing, and subprime lending soared.

    This subprime lending was more than a minor relaxation of existing credit guidelines. This lending was a wholesale abandonment of reasonable lending practices in which borrowers with poor credit characteristics got mortgages they were ill-equipped to handle. Once housing prices declined and economic conditions worsened, defaults and delinquencies soared, leaving the industry holding large amounts of severely depreciated mortgage assets. The fact that government bears such a huge responsibility for the current mess means any response should eliminate the conditions that created this situation in the first place, not attempt to fix bad government with more government. The obvious alternative to a bailout is letting troubled financial institutions declare bankruptcy. Bankruptcy means that shareholders typically get wiped out and the creditors own the company.

    http://www.tradersnarrative.com/fann...rich-1834.html

  9. #19
    Senior Member ptgatsby's Avatar
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    Quote Originally Posted by BlackOp View Post
    Anyone care to chime in? I dont feel like paying 700 billion for the parasites of our species. The stock market is risk.......you gamble and lose, its your choice....not mine.
    Not an NT, so I won't take part.

    However, I'd be curious to here the NT reasoning for including the stock market in this.

  10. #20
    Glowy Goopy Goodness The_Liquid_Laser's Avatar
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    Quote Originally Posted by BlackOp View Post
    Anyone care to chime in? I dont feel like paying 700 billion for the parasites of our species. The stock market is risk.......you gamble and lose, its your choice....not mine.
    It's stupid that we are in the position we are in. However at this point in time I believe we will be worse off overall without the bailout than with it. Therefore I would like to see a bailout. (Obviously we can all bicker about which details are good or bad, but overall I think it is needed.)


    Quote Originally Posted by ptgatsby
    Not an NT, so I won't take part.

    However, I'd be curious to here the NT reasoning for including the stock market in this.
    Heh, the stock market is more of an ancilliary issue, but that's what the US news media tends to focus on. Basically you can give a simple hard number when looking at stocks (like Dow down 777 points) to give people a feeling of what the economy is like. Going into details about explaining mortgage backed securities would probably get worse TV ratings even though that is really what is more relevant to the situation.
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