bailouts

[texas grass]

know what pisses me off more is that both the dems, reps, and president are giving our money away to bad business ethic money waisting criminals.

everyone thats scared of socialist b.s.. some of americas biggest firms are now socialized with the government taking the bill

one of the worst thing about this is the ceo's and big wigs of the companies are goin to get their multi million dollar bonuses still. so they run companies into the ground with bad practices and still get their contracts. b.s.

stanley morgan and another are about to drop and the govt is going to bail them out to from what i understand.

so the bill of the bailout when said and done is going to be +$1 TRILLION

texas grass Reviewed by texas grass on 09-20-2008. bailouts know what pisses me off more is that both the dems, reps, and president are giving our money away to bad business ethic money waisting criminals. everyone thats scared of socialist b.s.. some of americas biggest firms are now socialized with the government taking the bill one of the worst thing about this is the ceo's and big wigs of the companies are goin to get their multi million dollar bonuses still. so they run companies into the ground with bad practices and still get their Rating: 5

[Breukelen advocaat]

A loan bailout is not a "giveaway". A massive, multi-faceted, established company like AIG is not the rat-infested, corrupted criminal institution that people are making it out to be. Neither was Lehman Brothers.

We give billions to banks and governments all over the world, including those of very wealthy countries like Switzerland. Why should we ignore our own institutions? It angers many people when it occurs in America, but they don't seem to mind all the foreign aid we give to other nations' businesses and social programs.

Not to mention the hundreds of billions, or more, that the Iraqi war is costing.

Charity must begin at home, for the American people. For every job that's lost on Wall Street, or the banking industry, several in other parts of the economy also disappear.

Things have now changed forever, and it's too much to take in all at once. There's a lot of hate toward the financial sector, some deserved, but the markets must still must be maintained, supported and improved......if we want our future to be stable.

[killerweed420]

Why stall the inevitable? The system is going to fail. A fiat money system was one of the dumbest ideas these greedy assholes have ever thought up and the the stock market is just an extension of that. The taxpayers should never be required to bail these corrupt institutions out. It wouldn't have meant shit if AIG went under. People would just have had to buy insurance somewhere else no big deal. Personally I think what should happen is when one of these corrupt mortgage banks go under everyone that had a mortgage there should have there slate wiped clean. No company,No mortgage.

[texas grass]

A loan bailout is not a "giveaway". A massive, multi-faceted, established company like AIG is not the rat-infested, corrupted criminal institution that people are making it out to be. Neither was Lehman Brothers.

We give billions to banks and governments all over the world, including those of very wealthy countries like Switzerland. Why should we ignore our own institutions? It angers many people when it occurs in America, but they don't seem to mind all the foreign aid we give to other nations' businesses and social programs.

Not to mention the hundreds of billions, or more, that the Iraqi war is costing.

Charity must begin at home, for the American people. For every job that's lost on Wall Street, or the banking industry, several in other parts of the economy also disappear.

Things have now changed forever, and it's too much to take in all at once. There's a lot of hate toward the financial sector, some deserved, but the markets must still must be maintained, supported and improved......if we want our future to be stable.

it also pisses me off when israel saudi georgia eu poland ect gets billions of dollars in both military and economic aid. or any other country for that matter

we could use all the waisted money from giving to governments, money waist of our military, waisted money giving weapons to people. waisted money on politics.

we could spend that sort of money on education and healthcare and better ourselves

[Breukelen advocaat]

it also pisses me off when israel saudi georgia eu poland ect gets billions of dollars in both military and economic aid. or any other country for that matter

we could use all the waisted money from giving to governments, money waist of our military, waisted money giving weapons to people. waisted money on politics.

we could spend that sort of money on education and healthcare and better ourselves

A few people have gotten a bigger waist from all the waste.

[TheMetal1]

Things have now changed forever, and it's too much to take in all at once

I think this is the key right here ^^ We are at an "OH FUCK" point, where if we don't do what we're doing... we're fucked. While it seems like our government is rushing to bail them out... I think everyone realizes that it is a bad situation. Charity should begin at home.

In regards to that quote though... I think that is so true. We are going to be changing in many ways to meet these new challenges. While we seem to be jumping to the will of Big Money CEO's... I highly doubt they will be granted such aid in the future.

Like I said... we're at an "Oh FUCK" point. They see this as the only way to "save" our country. After things are squared away... it is up to US to make sure this bullshit stops. I think that "fire" has been lit under the American people lately... and things will get interesting in the near future.

[daihashi]

know what pisses me off more is that both the dems, reps, and president are giving our money away to bad business ethic money waisting criminals.

everyone thats scared of socialist b.s.. some of americas biggest firms are now socialized with the government taking the bill

one of the worst thing about this is the ceo's and big wigs of the companies are goin to get their multi million dollar bonuses still. so they run companies into the ground with bad practices and still get their contracts. b.s.

stanley morgan and another are about to drop and the govt is going to bail them out to from what i understand.

so the bill of the bailout when said and done is going to be +$1 TRILLION

Ugh.. I'm sick of this crap too. I don't think we should be bailing out these companies who put themselves in the hole. The problem is that these companies are so intertwined with our economy that if they go down so does our economy. We would bounce back... no doubt about it, but it would be very hard times for a while.

Personally I'd be willing to deal with hard times as opposed to giving the impression to these companies that it's ok to be corrupt and run their company into the ground.. because the government will save them.

[daihashi]

I think this is the key right here ^^ We are at an "OH FUCK" point, where if we don't do what we're doing... we're fucked. While it seems like our government is rushing to bail them out... I think everyone realizes that it is a bad situation. Charity should begin at home.

In regards to that quote though... I think that is so true. We are going to be changing in many ways to meet these new challenges. While we seem to be jumping to the will of Big Money CEO's... I highly doubt they will be granted such aid in the future.

Like I said... we're at an "Oh FUCK" point. They see this as the only way to "save" our country. After things are squared away... it is up to US to make sure this bullshit stops. I think that "fire" has been lit under the American people lately... and things will get interesting in the near future.

I understand this, but it still makes me sick to my stomach.. ugh.

[flyingimam]

Comrades Bush, Paulson and Bernanke Welcome You to the USSRA (United Socialist State Republic of America)


Nouriel Roubini | Sep 9, 2008

The now inevitable nationalization of Fannie and Freddie is the most radical regime change in global economic and financial affairs in decades. For the last twenty years after the collapse of the USSR, the fall of the Iron Curtain and the economic reforms in China and other emerging market economies the world economy has moved away from state ownership of the economy and towards privatization of previously stated owned enterprises. This trend was aggressively supported the United States that preached right and left the benefits of free markets and free private enterprise.

Today instead the US has performed the greatest nationalization in the history of humanity. By nationalizing Fannie and Freddie the US has increased its public assets by almost $6 trillion and has increased its public debt/liabilities by another $6 trillion. The US has also turned itself into the largest government-owned hedge fund in the world: by injecting a likely $200 billion of capital into Fannie and Freddie and taking on almost $6 trillion of liabilities of such GSEs the US has also undertaken the biggest and most levered LBO (â??leveraged buy-outâ?�) in human history that has a debt to equity ratio of 30 ($6,000 billion of debt against $200 billion of equity).

So now Comrades Bush, Paulson and Bernanke (as originally nicknamed by Willem Buiter) have now turned the USA into the USSRA (the United Socialist State Republic of America). Socialism is indeed alive and well in America; but this is socialism for the rich, the well connected and Wall Street. A socialism where profits are privatized and losses are socialized with the US tax-payer being charged the bill of $300 billion.

This biggest bailout and nationalization in human history comes from the most fanatically and ideologically zealot free-market laissez-faire administration in US history. These are the folks who for years spewed the rhetoric of free markets and cutting down government intervention in economic affairs. But they were so fanatically ideological about free markets that they did not realize that financial and other markets without proper rules, supervision and regulation are like a jungle where greed â?? untempered by fear of loss or of punishment â?? leads to credit bubbles and asset bubbles and manias and eventual bust and panics.

The ideologue â??regulatorsâ?� who literally held a chain saw at a public event to smash â??unnecessary regulationsâ?� are now communists nationalizing private firms and socializing their losses: the bailout of the Bear Stearns creditors, the bailout of Fannie and Freddie, the use of the Fed balance sheet (hundreds of billions of safe US Treasuries swapped for junk toxic illiquid private securities), the use of the other GSEs (the Federal Home Loan Bank system) to provide hundreds of billions of dollars of â??liquidityâ?� to distressed, illiquid and insolvent mortgage lenders, the use of the SEC to manipulate the stock market (restrictions on short sales), the use of the US Treasury to manipulate the mortgage market (Treasury will now for the first time outright buy agency MBS to manipulate and prop up this market), the creation of a whole host of new bailout facilities (TAF, TSLF, PDCF) to prop and rescue banks and, for the first time since the Great Depression,to bail out non-bank financial institutions, and a whole range of other executive and legislative actions (including the recent bill to provide a public guarantee to mortgage for banks willing to reduce their face value).

This is the biggest and most socialist government intervention in economic affairs since the formation of the Soviet Union and Communist China. So foreign investors are now welcome to the USSRA (the United Socialist State Republic of America) where they can earn fat spreads relative to Treasuries on agency debt and never face any credit risks (not even the subordinated debt holders who made a fortune yesterday as those claims were also made whole).

Like scores of evangelists and hypocrites and moralists who spew and praise family values and pretend to be holier than thou and are then regularly caught cheating or cross dressing or found to be perverts these Bush hypocrites who spewed for years the glory of unfettered wild west laissez faire jungle capitalism (and never believed in any sensible and appropriate regulation and supervision of financial markets) allowed the biggest debt bubble ever to fester without any control, have caused the biggest financial crisis since the Great Depression and are now forced to perform the biggest government intervention and nationalizations in the recent history of humanity, all for the benefit of the rich and the well connected. So Comrades Bush and Paulson and Bernanke will rightly pass to the history books as a troika of Bolsheviks who turned the USA into the USSRA. Fanatic zealots of any religion are always pests that cause havoc and destruction with their inflexible fanaticism; but they usually donâ??t run the biggest economy in the world. But these laissez faire voodoo-economics zealots in charge of the USA have now caused the biggest financial crisis since the Great Depression and the nastiest economic crisis in decades. So let them be shamed in public for their hypocrisy and zealotry that has caused so much financial and economic damage.

RGE - Comrades Bush, Paulson and Bernanke Welcome You to the USSRA (United Socialist State Republic of America)
Press TV - 'USA transforming into USSRA'
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people deserve what they get as i said b4... unless they take action not their so called "representatives" from prez to legislature

privatization of SS comes as a joke in light of these news

[8182KSKUSH]

Ugh.. I'm sick of this crap too. I don't think we should be bailing out these companies who put themselves in the hole. The problem is that these companies are so intertwined with our economy that if they go down so does our economy. We would bounce back... no doubt about it, but it would be very hard times for a while.

Personally I'd be willing to deal with hard times as opposed to giving the impression to these companies that it's ok to be corrupt and run their company into the ground.. because the government will save them.

Agreed. Where has my country, party, gone?