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Register Today on DNForum IT'S FREE!One thing is pretty certain, the money is not going to you or me... quite the opposite.Originally Posted by h2fc
We really have no clue as to what Senator McCain would do because we did not elect him President, we elected President Obama. That said, doubtless things would not be different for a President McCain at this point because neither he nor President Obama actually anything directly to do with where we are today, as regards their respective Presidential campaigns.
That said, if you really believe what you stated, go check out a history chart for the last couple of years contrasting Citigroup vs Morgan Stanley... It is good to be friends with the King (or The One). Really good.
Get rid of the influence lobbiests in Washington and perhaps it might return to the people. Yup, all those lawyers "we the people" sent to Capitol Hill who should be representing "we the people", seemingly don't. If they turn down all that right wing corporate and left wing labor funding they each end up receiving to finance their returns to office through their respective PACs and influence peddlers, then we will see some change in Washington.
Yep, they should cut off their source of power and influence right away and... oh wait... never mind, whatever was I thinking... my bad.
-Commerce
Change: You have it, go check your pockets.
The definition of Socialism is much more broader than taking from the rich and giving to the poor, Socialism is a political theory that advocates state ownership of industry... Government ownership and control, this is what these bailouts are doing.
You correct my English and grammar here all the time, so why not?... You made the error twice so it was not a typo, You just didn't know how to spell the word.
Please vote Republican in 2012, America can not sustain another 4 years
of Liberal policies that are fiscally and socially destroying the country..
The Domain name.
Last edited by Gregcyber; 08-31-2009 at 10:03 AM.
Freudian slip?
You think God had something to do with him not being elected?
you are correct. I paid my taxes.
Anyone in that position would have to have done something fast and with impact.
Putting a bandaid over a gushing chest wound is not going to stop or slow the bleeding.
The issue is bipartisan politics.
McCain would have had equal and most likely stronger opposition merely because of the numbers.
Congress needs a massive enema.
Last edited by Gerry; 03-05-2009 at 06:58 PM. Reason: Automerged Doublepost
"Just a lot of embarrassment, embarrassed to be part of group of domainers who would do this to their fellow man.",
Condemnation of Mobee boys and investors by our precious Mother Theresa of Domaindom
No, I don't correct your English as I know it's not your native tongue, but I do pull you up on 'there, their and they're' because you almost always use the wrong one. Even after I'd given examples of their correct usage, you ignored it.
If I didn't know how to spell it, how come it was correct at the end of the sentence
DNGazette.com - for sale
[quote=Doc Com;1663041]No....just a misspelling of the word "thank".Freudian slip?
Oh Yes....I do believe in Divine Providence.You think God had something to do with him not being elected?
http://www.axetaxesnotjobs.com/
Ready to march.
All offers good for 72 hours except running auctions
Progeria Research | Pulmonary Fibrosis | Dammit!
The reality bites and sucks but it is what it is...
something needs to be done.
"Just a lot of embarrassment, embarrassed to be part of group of domainers who would do this to their fellow man.",
Condemnation of Mobee boys and investors by our precious Mother Theresa of Domaindom
"Something needs to be done" (by the government) only if you want to change to a socialist government.
In a free market, the weak must be allowed to die, absorbed by the stronger companies, and life does on. The governement's job is to keep its HANDS OFF, keep taxes low, and not spend more than it takes in. Bush and Obama are equally clueless.
I met someone last week from Union Bank, one of the few banks who acted RESPONSIBLY and are not in trouble. They are now being PUNISHED HEAVILY -- the competitors they totally killed off (Citi, B of A, etc) and back from the dead, propped up and again COMPETING AGAINST THEM with taxpayer dollars! That is incredibly wrong and the complete opposite of capitalism.
Just waking up, on first cup of coffee.
I thought this said flea market.
I was thinking, damn! that's pretty good
becuase that will be where all new goods, appliances, and autos end up.
Flea markets are probably the most frequented of all places today as everyone ends in there looking to stretch what little money they have.
With store closings and massive layoffs, yeah - a flea market economy is a good analogy.
"Just a lot of embarrassment, embarrassed to be part of group of domainers who would do this to their fellow man.",
Condemnation of Mobee boys and investors by our precious Mother Theresa of Domaindom
Well in a FREE market the now (or expanding) company buys up the old company's assets and continues operations, so few people lose their jobs.
In a semi-SOCIALIST market the dead company with no future is "propped up" for a frew months while investors of the dead company runs away, investors of the HEALTHY companies run away because they now have to compete with nonsense and competitors "too big to fail", and ALL COMPANIES LOSE INVESTORS AND EMPLOYEES GET LAID OFF.
Oh, but it gets worse -- investors STAY out of the market for many years, fearful of more stupid governement intervention, and taxes skyrocket for a decade or 2 to pay the huge debts of supporting their dead company for a few months.
End result: EVERYONE is screwed over except for the execs of the "dead" company who walk away with hundreds of millions from bonuses and commissions from their failed deals.
That's exactly what Obama is puitting into place right now.
JP, I know how it all works.
Just thought the flea market economy works (and phrase) works.
must
get
more
coffee.
"Just a lot of embarrassment, embarrassed to be part of group of domainers who would do this to their fellow man.",
Condemnation of Mobee boys and investors by our precious Mother Theresa of Domaindom
Juniper, you have a strong argument against the bailouts but what is the alternative? Is it better to let our capital markets die as a result of greed and corruption that was allowed to run rampage because of a lack of laws and controls by our government....or is it better to use public money to restore our capitalistic system and show the world it can survive when properly controlled?
I can't stand the thought of the socialist governments being promoted as the result of the death of our capitalistic system.....and that is exactly what will happen if we don't prop up our free market and save it from failing. America is built on capital free markets and it will continue that way but it is necessary now for us all to support our President and use the public's money to restore our economic system. The majority of the people support Obama in this effort....he's doing exactly now what he said he would do if elected.
"Is it better to let our capital markets die..." that's the totally bogus threat that keeps getting thrown out there as an excuse, just as Bush used 9/11 as an excuse to do anything he wanted.
These markets will NOT die out... whether you are talking backing, manufacturing, or anything else these are products and services that are NEEDED, and long term VALUE, and there is plenty of room for PROFIT.
In each segment, there ARE healthy players who are ready, willing, and able to pickup up the business and carry on. Will loans be as cheap as it was in the past? Probably not. Will stockholders in failed companies lose their investment? Yes, just like with any other failed company. Will high school educated plant workers continue to make $75/hour union wages? Probably not. Lots of things will change. But if the strong are ALLOWED to buy up the assets of the failed and weak, recovery will begin, new competiton will emerge, and prosperity will start a new cycle.
-IF- taxpayers were to inject cash, there are 2 much BETTER ways to do it.
1) Buy stock in the banks - which means the government will own a portion of the bank -- and SELL it at some point in the near future. That means the current stockholders will take a loss, as they should. This is FAR better than just buying the worthless assets.
2) Give the money to stronger competitors if they agree to take over the assets of failed companies and use at least part of the money to hire the layed off employees and retrain the ones they can't hire. This is a win-win for everyone involved.
Reagan did it when he replaced the striking air traffic controllers.
The average hourly wage on the auto assembly line is $36.00 per hour.
Janitors make more than $20 per hour.
And the US auto market can not make a dependable, reliable car that is fuel efficient and at a price point that is affordable.
It can, but there is no profit in them. US automakers would rather concentrate on the land yachts that are nearly 60% markup.
This is a post-20th century economy. We are nearly a decade into the 21st century but still using decades old business models.
No. They will not make $36, or $50, or $75 per hour.
But they will make an honest and respectable wage and live comfortably without union interference, not to mention Union Dues.
As for the banks and bankers -
Some need to fail and have their assets disbursed.
However, secret behind the door negotiations and having the fed broker deals at taxpayer expense is not the way to do this, ala Bear Stearns.
AIG, losing 60 billion in one quarter.
Are you shitting me?
And they are asking for an addition $30billion?
Nope.
Sorry.
You're gone.
You clients assets are insured and we'll cover the balance above and beyond.
Close the doors and last out to leave turn out the lights.
We can't solve problems by using the same kind of thinking we used when we created them.
-Albert Einstein-
"Just a lot of embarrassment, embarrassed to be part of group of domainers who would do this to their fellow man.",
Condemnation of Mobee boys and investors by our precious Mother Theresa of Domaindom
I would agree with that statement, however others may not. The reason that I thought I heard about AIG being "too big to fail" was that they cover the bad debt banks have taken on via their insurance side. If that is indeed true, then my guess is that if they fail, banks are entirely exposed to bad loans. If that happens, Citigroup, BofA and a few others are probably done. So perhaps "too big to fail" actually means, "if they fail, the global banking system collapses".
"Merrily, merrily, merrily, merrily, Life is but a dream" -
NIH kids website (viewer warning - obtrusive audio enabled)
-Commerce
PS - Einstein was right (I guess thinking "outside the box" just is not good enough to solve these problems - how about we start thinking "in multi dimensional space time"?)
Ooo - I like that!
That is AIG's argument and saving grace. But when do you stop chasing away a problem with money, or as the old adage says - chasing bad money with good money.
The biggest issue and the fault of this entire scheme (and it is a wickedly crafted scheme) is those in charge were not held accountable. Period.
The CEO of AIG resigned the day before the vote.
The sticking point had been should those in charge be removed.
When Congress finally passed the bill last fall and that stipulation was taken out of the bill, the CEO of AIG was immediately rehired.
This is not a made up story and is well documented.
Not a single person was ousted and not a single person has been held accountable.
These people are all still in their positions and thus far it has been business as usual.
Not once throw this entire ordeal has my bank been mentioned. Nor has my Mortgage company gone belly up.
These obviously are well run institutions and that is what someone needs to look at...who is doing things right and why.
Last edited by Gerry; 03-07-2009 at 11:52 AM. Reason: Automerged Doublepost
"Just a lot of embarrassment, embarrassed to be part of group of domainers who would do this to their fellow man.",
Condemnation of Mobee boys and investors by our precious Mother Theresa of Domaindom
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