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Tell you what fellas, I will amend the name of my business to include 'Mercantile Bank' in the name, I will loan you all a gazillion dollars, you will quickly default and we'll all get 'bailed out' - sound good?
Just caught 'Eagle Eye' the movie, should I have been pulling for the computer here?
I thought Gordon Gekko was a greedy b.....d...by contrast he's a saint....
Tell you what fellas, I will amend the name of my business to include 'Mercantile Bank' in the name, I will loan you all a gazillion dollars, you will quickly default and we'll all get 'bailed out' - sound good?
Just caught 'Eagle Eye' the movie, should I have been pulling for the computer here?
I thought Gordon Gekko was a greedy b.....d...by contrast he's a saint....
Dang! Does this mean I have to abandon the inane movie of the moment to check out the news channels? I'll confess that I have absolutely no idea what ought to be done. Whatever it is, I'm reasonably certain that the government ought not be heavily involved. (Gosh I wish I'd paid more attention to those econ classes.)
__________________ I never knew a man who wished to be himself a slave. Consider if you know any good thing that no man desires for himself. A. Lincoln
Ugh. We're going down the financial toilet. I think the 21st Century will belong to Asia as they've got untapped markets, savings (which we don't have) and production facilities (which we've farmed out there). Even though many of us are fiscally prudent and what money we spend is spent here on American goods (hey, don't we buy Civil War books printed in America and visit our battlefield parks?), our trade deficit and reckless spending is coming back to haunt us as a nation.
In response to 5fish's question about waiting until now to bring all this up to the forefront...consider the psychological reasoning:
-simply put, it could be a smoke screen. In order to get what you want on the sly, you have people look the other way, otherwise known as a diversion. Kinda like what Russia is doing in Georgia--what are they diverting the world's attention from?
-it is so much easier to get forgiveness than to get permission. So do what you want to do and don't give the others any time to think and respond.
-Perhaps a power outside of the U.S. forced this into the open..why now? Maybe to have some kind of influence upon our national presidential election.
-we would be in a vulnerable state what with a new president and no financial capital to speak of...
We've been on the slippery slope for a while now. Remember the deregulation led to the S&L collapse way back in the '80s? Then the loosening of standards for loans encouraged consumer spending in the '90s and now it's all coming back to haunt us. What's really unfair is that those of us who are fiscally conservative and have been saving will be asked to bear the burden of the bailout. I'd rather see my tax dollars go to battlefield preservation or historic site preservation. I'd rather see our railroad system modernized. I'd rather not bail out Wall Street that made a fortune in the '80-'90s and didn't share a dime with me then.
Not responding to you directly, John ... just spinning off your post because it was the shortest. Government! Can't live with it and can't kill it. I'm a bit hard put to figure if too much or too little gave us this wake-up. I'm not even certain-sure that intervention is necessary. All I can see is that I had a fairly secure nest-egg that was more or less reliable. Not one that would secure us an island paradise and world cruises, but at least one that would feed, cloth and house without severe want in the remaining days. This, too, shall pass. I will "endeavor to persevere." And, yes, my horse surrendered.
__________________ I never knew a man who wished to be himself a slave. Consider if you know any good thing that no man desires for himself. A. Lincoln
As long as the housing market continued to ballon, everyone was happy...then when the bottom fell out of that banks started loosing their shirts and the whole house of cards collapsed....so not only do I have to work 2 jobs to pay my mortgage, but also to pay for bad judgement by both irresopnsible borrowers and greedy lenders (who of course will land on THEIR feet)....I guess Michael Douglas was correct in Wall Street "Greed is good"
Mitt Romney, now, as I type, on MSNBC: "This is not a taxpayer bail-out, Andrea (Andrea Mitchell/NBC news). It's a government action to rescue some of these large companies and banks." paraphrased to the best of my ability. Ok, so what's the difference between a "taxpayer bailout" and a "government rescue.?"
If I can take a guess I'd be willing to bet the difference would depend on how far you're willing to bendova.
Respectfully,
Leland
__________________ "What armies and how much of war I have seen, what thousands of marching troops, what fields of slain, what prisons, what hospitals, what ruins, what cities in ashes, what hunger and nakedness, what orphanages, what widowhood, what wrongs and what vengeance."
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