HankMurphy
Minmatar
Pelennor Enterprises
   |
Posted - 2008.09.30 06:27:00 -
[1]
let it fall to the ground
it sounds ignorant and shallow until you realize the only decision here is do we
A) throw money at the people who caused the issue. effectively spending more money we dont have to try and give the economy the appearance that it is stable
or
B) refuse to bail out those that played chicken with the entire economy, allow the market to crash and then self correct.
Everything that goes up must come down.
Every economy like ours will have this happen from time to time. It's inevitable. Even the bail out wouldn't FIX the problem. It would just draw out the matter.
The question is do we load the pockets of the rich with debt from the taxpayers before it happens. No, hell no.
Anyone that blindly screams we must bail out wallstreet has to realize. There is no way to win here. It's a lose lose scenario. The only reason your picking the bailout option is either you stand to benefit (unlikely) or you believe the very people that caused this issue that are now screaming 'give us money or we are all doomed' (the same thing they ALWAYS say)
You want a free market or socialism? Decide now. This happens in free markets, buck up.
------------------------------
everybody be cool this is a threadjack! just lay face down on the ground and no one will get hurt! |
HankMurphy
Minmatar
Pelennor Enterprises
|
Posted - 2008.09.30 09:42:00 -
[2]
Edited by: HankMurphy on 30/09/2008 09:55:04
 Originally by: Seroquel
dude... the levels of fail in your post are astounding. do you even grasp the problem at hand? we're not bailing out 'those idiots' who got loans they never intended to pay back. we're bailing out the financial institutions that ended up with all these subprime loans so they don't go under.
we're all going to be burden with this debt so our retirement funds don't go poof while these criminals are chuckling all the way to the bank in their u-haul truck filled with stuff stolen out of the houses they never had to pay for.
your correct.
but understand that the institutions were the ones passing out loans they knew damn well many many people wouldn't be able to pay back
AND they did it with government encouragement. (both Clinton and Bush, so leave the red and blue flags under your seats).
It takes 2 to dance, the idiots that signed for the loans and the banks that gave the loans out share equally in the irresponsibility
also, dont forget all those gambling on whether or not any of it was going to pan out in the end! (big part of the underlying instability. do a google search on "derivatives" and "financial WMDs" together)
but you are right about who gets the money. however they are the ones that are going to make out in the long run too. as we are going to pay them all this money for the assets that are going to be worth jack all in 6 months time (guess who eats that shitcake too? yup, us). make no mistake, the heads of these institutions will laugh all the way to the bank with this 700billion (they wouldn't if we made provisions for that not to happen upon giving them the $$, but thats no longer the American way  )
long post short, like i said before. bailout or no bailout we are screwed. even if we give them the money its a snowballs chance in hell of FIXING anything. We're just hoping it gives a bit of stability to the market
-no guarantee it will fix anything (pretty much guarentee it won't)
-no guarantee they wont need 3-4x what they are currently asking
-no guarantee the taxpayer doesn't end up in debt and receiving a bunch of worthless assets in return
*i can understand those with retirements wanting the bailout. its an immediate risk for them
*those with retirement concerns need to understand those of us that dont want to be paying for this PLUS what we are already paying for for the next 60 years of our lives.
if it was a question of good vs bad. they would have voted it today. but it's not. the vote wasn't borked over Pelosi's speech (which was terrible). Thats silly, the vote was borked because those that understand the situation have filled their representatives voice mailboxes screaming "dont you ****ing dare do that w/ our money!".
Those representatives (same ones up for reelection in a month) are the ones voting nay to save their jobs. On the plus side, this is the first time i've really seen democracy at work, and by that i mean, representatives actually afraid for themselves knowing what their constituents want. (they want to bail out their fat cat friends, but not at the cost of their own jobs  )
i find the whole thing fascinating
and sickening
but yeah, let it burn to the ground. (i'm relatively young, i got lots of time to rebuild my nest egg)
i think the movie line was "When a forest grows too wild purging fire is natural and inevitable."
a lot of people on both sides of the argument are very confused and need to research more.
while there are those that do benefit by wanting the bailout (those with deep investments in the firms especially those standing to loose their retirements),
we are ALL in this.
We pay for it now with a crash and build ourselves back up
OR
we throw money at the problem (hoping praying and gambling that it helps a tiny bit) and pay for it for the next 100 years.
either way. we pay.
/2 sides to the same shit sandwich
//another night bored at work
------------------------------
everybody be cool this is a threadjack! just lay face down on the ground and no one will get hurt! |