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AIG/Financial Bailouts for companies
Is this going too far?
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AIG/Financial Bailouts for companies
09-19-08 02:34 PM
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If you live in America, you know that right now, the market is going down pretty freaking fast. Many companies have been hit by it, and just recently, AIG had to be bailed out. But, is this going too far? Bailing out companies? Is that really what we want to do with our tax money?
Recent article w/video 
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Layout Created By Wow, it sure looks to me like the financial sector of the american economy has just been socialized.
Of course no one is calling it that... but what else is it really. They created a "crisis" which they knew would occur. You can't lend the way the banks were and not expect it to come back to bite you somehow. The only thing these bailouts have done is prevent the crash. Eventually something has to give and the system crashes. The whole situation seemed very avoidable. Of course no one is calling it that... but what else is it really. They created a "crisis" which they knew would occur. You can't lend the way the banks were and not expect it to come back to bite you somehow. The only thing these bailouts have done is prevent the crash. Eventually something has to give and the system crashes. The whole situation seemed very avoidable. -------------------- |
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09-20-08 12:45 PM
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Of course it was, but most politicians continued to pocket money and be lazy, so this is unfortunately the end result 
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Well, it was avoidable. If Bush wasn't elected then none of this would've happened -------------------- |
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12-23-08 07:50 AM
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wow.... could that be more wrong!
I just noticed the post by Ziggy and I must argue it. This crisis was brought on by the policies of Democrats. It started with Carter when he brought in the Community Reinvestment Act. This forced banks to make loans to lower income groups. This program was expanded under the Clinton administration. It was run using Freddie Mac and Fannie Mae. Then you had groups like Acorn (OBAMA!) that would black mail banks into making outrageous loans (sub-prime) to low income African Americans and other minority groups. This resulted in the mortgage bubble which has caused the whole problem. So don't use the "Bush suck... he is at fault for everything" cop-out. It doesn't always work when you actually look at the facts. It's the Democrats that are to blame this time around. I just noticed the post by Ziggy and I must argue it. This crisis was brought on by the policies of Democrats. It started with Carter when he brought in the Community Reinvestment Act. This forced banks to make loans to lower income groups. This program was expanded under the Clinton administration. It was run using Freddie Mac and Fannie Mae. Then you had groups like Acorn (OBAMA!) that would black mail banks into making outrageous loans (sub-prime) to low income African Americans and other minority groups. This resulted in the mortgage bubble which has caused the whole problem. So don't use the "Bush suck... he is at fault for everything" cop-out. It doesn't always work when you actually look at the facts. It's the Democrats that are to blame this time around. -------------------- |
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12-23-08 04:14 PM
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Yeah, because the gas and oil companies take no blame for this (you know, the ones who charged us insane amounts of money so bush's friends in the middle east could make more money). And associating obama with acorn? really, if that ploy didn't work for mccain it won't work for anyone else. And from what you stated about the Community Reinvestment Act, it wasn't the reason for this. Banks were giving loans and making deals that couldn't be repaid, knowingly. the democrats don't take responsibility for the banks. -------------------- |
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12-23-08 05:49 PM
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Oh, so now the mortgage crisis is the oil companies fault.
Sure, having to pay more for gasoline sucked but that shouldn't have caused as many people to default on their mortgages as it did. A large part of the problem has been that people have been living beyond their means for too many years. Add in mortgages that most of the people that got them shouldn't have ever qualified for (because of the CRA) resulted in the mess we have today. I don't believe that any group is innocent in the whole situation but to ignorantly blame GW and oil companies ignores a huge aspect of the problem. And yeah, Obama was and is associated with Acorn. Just because the MSM is having a love affair with Obama doesn't mean it's not true. Sure, having to pay more for gasoline sucked but that shouldn't have caused as many people to default on their mortgages as it did. A large part of the problem has been that people have been living beyond their means for too many years. Add in mortgages that most of the people that got them shouldn't have ever qualified for (because of the CRA) resulted in the mess we have today. I don't believe that any group is innocent in the whole situation but to ignorantly blame GW and oil companies ignores a huge aspect of the problem. And yeah, Obama was and is associated with Acorn. Just because the MSM is having a love affair with Obama doesn't mean it's not true. -------------------- |
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12-23-08 10:42 PM
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1. You obviously didn't read my entire post, as i mentioned. "Banks were giving loans and making deals that couldn't be repaid."
2. Literally any other person would've prevented this, from either party (McCain knew it would happen). Bush is just stupid 3. That whole thing with ACORN was media hype to the extreme. I'm not a huge obama fan myself, and i know the media for the most part was in love with him, but still, many things were overly hyped during that election. ACORN was one of them 2. Literally any other person would've prevented this, from either party (McCain knew it would happen). Bush is just stupid 3. That whole thing with ACORN was media hype to the extreme. I'm not a huge obama fan myself, and i know the media for the most part was in love with him, but still, many things were overly hyped during that election. ACORN was one of them -------------------- |
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12-23-08 10:52 PM
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so I'm guessing we are in agreement for the most part then?
I'm not a huge fan of Bush but I find people blame the president for too much in general when things go wrong and praise him too much when things go right. As if it is the President that makes the country function. I'm pretty sure the US would still function if we never heard from the president after his inaguration. I'm not a huge fan of Bush but I find people blame the president for too much in general when things go wrong and praise him too much when things go right. As if it is the President that makes the country function. I'm pretty sure the US would still function if we never heard from the president after his inaguration. -------------------- |
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12-23-08 11:07 PM
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yes and yes. but if we never heard from the president after inauguration, i could only hope that's because the media is laying off. but that would never happen -------------------- |
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12-24-08 10:57 AM
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especially not with Obama as the next president.
He's gotten more air time since he won the primaries than Bush has gotten in his 8 years in office. I can't get over how people think Obama is "change". Bush wanted a bailout... so does Obama. Great. And guess what, Obama has already named several former Bush administration members into his cabinet. Yay for change! He's gotten more air time since he won the primaries than Bush has gotten in his 8 years in office. I can't get over how people think Obama is "change". Bush wanted a bailout... so does Obama. Great. And guess what, Obama has already named several former Bush administration members into his cabinet. Yay for change! -------------------- |
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12-24-08 09:10 PM
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well, he said he wanted a team of rivals, who better than people in the cabinet of somebody who is your polar opposite. Also, different tax cuts, health care etc. that's what actually will change. What i can't get over is how that got him through the primaries, when Hillary and him agree on everything but foreign policy -------------------- |
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12-25-08 12:25 PM
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I mean, it's not bad to have a wide range of opinions in your cabinet.... but why he picked old Bush administration people boggles my mind. I'm sure there are plenty of qualified republican/conservative people that he could have picked instead. -------------------- |
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12-25-08 11:16 PM
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I think he only picked like 1 actual republican, though. the rest are just moderate dems, for the most part -------------------- |
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