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The goverment bought, with our money mind you, AIG, Freddie Mac, Fannie Mae. What other companies will they buy on our dime?
If I was the CEO of a large company I would invest all my companies money in Junk Bonds. If they do well you make trillions, if they do poorly the government will give you large sums of taxpayers money.
Bush and Co should be in Guantanamo.
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Goal for 2008: Half as many penalties.
Maybe it could be called Capitalism by convenience. How ironic that capitalists are being bailed out by socialists when we thought Darwinian principles were the rule of thumb. My,my,my.
Now that the "Government " ( taxpayer ) owns these companies will they become "non profit"? I wouldn't dare say that Capitalism has run its course, but its flaws are showing.
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In politics, nothing happens by accident. If it happens, you can bet it was planned that way.
Franklin D. Roosevelt
"Those who can make you believe absurdities can make you commit atrocities." --Voltaire
Dumb question: Where does this money come from? I mean why can't we have universal healthcare instead?
we print it. your savings account is now worth less than it was yesterday. Listen to Ron paul he speaks about this all the time. Its why 1 dollar in 1913 is equal to 3 cents today.
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Goal for 2008: Half as many penalties.
we print it. your savings account is now worth less than it was yesterday. Listen to Ron paul he speaks about this all the time. Its why 1 dollar in 1913 is equal to 3 cents today.
Ugh, I would have thought of that, if it wasn't so stupid. Crap.
I think they are trying to get us to have a soft landing and NOT enter another Great Depression. It's scary, because at some point, if they keep printing money, rampant inflation will ensue. The question is, how many more AIGs are out there?
__________________ KOC Rules!
Yuma's Dad RIP 03/22/07
I still have a gut feeling Shaq will be better next season (2008/2009) after our docs have a full off season to work their magic on the Big Saguaro!
The Fed makes me sick. No real oversight, all the fingers in the pie.
C'mon now... What did you expect Bernanke to do?? The root causes of these failures tie directly back to something very plain, very simply, very pure... GREED!! The leaders at Fannie, Freddie, AIG, Lehman, Merrill, etc... all knew exactly what they were doing. All knew exactly the HUGE risks they were taking as they piled huge sums of money into CDO's & CDS's...
Lehman & Merrill, like others should have failed... But, with respect to Fannie, Freddie and AIG - do you really believe The Fed had any other option but to do what they did??
And hey, with AIG, the $85 billion loan comes with a 11.5% interest rate! Not too shabby....
C'mon now... What did you expect Bernanke to do?? The root causes of these failures tie directly back to something very plain, very simply, very pure... GREED!! The leaders at Fannie, Freddie, AIG, Lehman, Merrill, etc... all knew exactly what they were doing. All knew exactly the HUGE risks they were taking as they piled huge sums of money into CDO's & CDS's...
Lehman & Merrill, like others should have failed... But, with respect to Fannie, Freddie and AIG - do you really believe The Fed had any other option but to do what they did??
And hey, with AIG, the $85 billion loan comes with a 11.5% interest rate! Not too shabby....
Bush allowed this to happen. He was the one that "opened new doors for people to get the home of their dreams". Then he had congress push incentives for banks to do it.
Never had a worse president. Ever.
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Goal for 2008: Half as many penalties.
Bush allowed this to happen. He was the one that "opened new doors for people to get the home of their dreams". Then he had congress push incentives for banks to do it.
Never had a worse president. Ever.
LMAO... BDS at its' best...
CDO's and CDS's only came into existance when Bush became Pres, right? Wall Street shenanigans and greed only became "real" under Bush, right?
Take it from someone who grew up in NY, and who has many, many good friends (just went on a Scotland golf outing with several) who work in the financial industry on the street - the games have been going on for decades. These guys are ruthless, greedy mo-fo's who believe they are immune to real-world rule, regulations, and realities... They make millions upon millions doing nothing but trading in financial vehicles that they themselves created and perfected (so they thought...). Now, they got caught with their shorts down and their tiny little waspy peckers flailing in the wind... Screw them... all of them... Welcome to the real world douchebags!!
Bush allowed this to happen. He was the one that "opened new doors for people to get the home of their dreams". Then he had congress push incentives for banks to do it.
Never had a worse president. Ever.
swd, you know better than this. This thing unfolded a long time before Bush was in office. I would expect this from less knowlegeable people, but not you. We could probably trace the roots of this to Roosevelt's New Deal.
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“So I became a newspaperman. I hated to do it but I couldn’t find honest employment.” —Mark Twain
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