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| Topic: what is wrong...phuck i gotta vent | |
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So what... if we had gotten another old republican and his nurse, I mean vp in office, the country would be turned around by now?
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So what... if we had gotten another old republican and his nurse, I mean vp in office, the country would be turned around by now? 
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what is wrong with this guy we elected into office ..i can understand the bail out of AIG but it was evident that the car companies were gonna start looking at bankruptcy.. ..turn the company around in 60 days ..maybe it has become clear enough..so listen up obama ..the PEOPLE dont have the money to buy cars ..if it werent due to the fact of the rip off by bernie madoff made possible by the lack of oversight by the sec ..than its the fact that they were ripped off of their home equity by the banks due again by lack of oversight by our own government..and since approx 60% of ones wealth is in their homes do you really think that these little stimulis payments are gonna turn things around... so once again let me reiterate "the people have no money"..most have gone into hoard mode because they know this situation could get worse before it gets better ..but hey buy a car .. More people will have money if the car plants are saved. Thousands are now unemployed in my city due to a car plant closing. The area where the car plant closed is now going downhill. This area loses taxes. The restaurants, gas stations and stores are losing clients. Unemployment runs out and homes foreclose. It would be nice to see those thousands working and having money again. I do see both sides of the situation. I am a smoker. Yeah, they raised taxes. Those extra $6.00 dollars for a carton isn't going to hurt me. But..the cigs are hurting me. Maybe it's time for me to quit. And there is a car plant here locally personally the people who work there priced themselves out of work with the benefits and other things they got over the years. I have friends who work there and they even agree with me. they did it to them selves and can only hope it resolves itself soon. But I think bankruptcy is the way they should go. Didn't the airline s do it and keep going while they restructures. Why should people who have been put out of work already be made to pay even more ? just a thought |
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Bush shoulda been thrown out of office years ago after lying about WMD.
Then maybe we would have had a bit of a head start of turning the country around from complete disaster. |
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Edited by
Winx
on
Mon 03/30/09 04:46 PM
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Durtydduck,
I'm not sure what the right thing to do is in this situation. Even the top economists don't agree on what to do. I give Obama credit for trying though. |
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we all realize that congress has a hand in everything as well...right?
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we all realize that congress has a hand in everything as well...right? |
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Durtydduck, I'm not sure what the right thing to do is in this situation. Even the economists don't agree on what to do. I give Obama credit for trying though. It could of been worse. I had to ask myself what would McCain have done by now? The politicians still play the game.. some 20 years ago I have been to Washington to watch what happens in a day at the capital and even the pentagon . and you would be surprised. I was. and all I could do is shake my head in disgust. |
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we all realize that congress has a hand in everything as well...right? very true as well. |
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Durtydduck, I'm not sure what the right thing to do is in this situation. Even the economists don't agree on what to do. I give Obama credit for trying though. It could of been worse. I had to ask myself what would McCain have done by now? The politicians still play the game.. some 20 years ago I have been to Washington to watch what happens in a day at the capital and even the pentagon . and you would be surprised. I was. and all I could do is shake my head in disgust. I asked myself the McCain question too.  That made Obama look even better to me.
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Edited by
quiet_2008
on
Mon 03/30/09 04:16 PM
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Wasn't it Bush who de regulated the banks in the first place? Isn't the banks that lent money to people knowing full well they couldn't afford it/ Wasn't it the people who wanted the "american dream" of having a home go to those banks?
that was actually Clinton. pushing a "social enngineering" policy formulated by Jimmy Carter |
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Edited by
Unknow
on
Mon 03/30/09 04:25 PM
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Wasn't it Bush who de regulated the banks in the first place? Isn't the banks that lent money to people knowing full well they couldn't afford it/ Wasn't it the people who wanted the "american dream" of having a home go to those banks?
that was actually Clinton. pushing a "social enngineering" policy formulated by Jimmy Carter |
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I didn't vote.
Why, you ask? Simply because ALL politicians are crooked pieces of sh!t. And that is a fact...not an opinion. It doesn't matter who is in office. They are ALL the same egotistical marionettes playing us as puppets. |
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Edited by
InvictusV
on
Mon 03/30/09 04:44 PM
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It wasn't just the fact that people went out and bought new homes they couldn't afford. How many people that already owned a home, got greedy, went out and bought another one, to later sell at a profit? I live on the Atlantic Coast. When I moved here you could buy an oceanfront 3 bedroom condo for under $100,000. 2 years ago, you couldnt buy an oceanfront 1 bedroom condo for under $1 million. People were still buying them. They built over 10,000 new units, drove up the property values by 400%, and now have 80% empty. Bankers greed. Developers greed. Average people's greed. That is why we are here.
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Edited by
Unknow
on
Mon 03/30/09 04:48 PM
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It wasn't just the fact that people went out and bought new homes they couldn't afford. How many people that already owned a home, got greedy, went out and bought another one, to later sell at a profit? I live on the Atlantic Coast. When I moved here you could be an oceanfront 3 bedroom condo for under $100,000. 2 years ago, you couldnt buy an oceanfront 1 bedroom condo for under $1 million. People were still buying them. They built over 10,000 new units, drove up the property values by 400%, and now have 80% empty. Bankers greed. Developers greed. Average people's greed. That is why we are here. |
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I left out realtors greed as well. They were working hand in hand with banks like Countrywide, pushing those bs adjustable rate mortgages. They were pushing the banks to make the loans, pushing the developers to build more and more units. The problem here is that we have the vice president of one of the largest realty companies on the east coast as Mayor. The president of the City Council is a Housing Contractor, and the rest are either realtors, or representatives of Condo owners that dont reside here. ITS TIME FOR A PURGE.
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most of these problems were in place before obama took office as far as the lack of oversight ,..i'm just really pissed bthat they are gonna raise the taxes on cigarettes from 39 cents to 1.01.... but the fact that a car company can really do anything in a recession is ridiculus,especially when looming over head is bankruptcy like that is gonna gain any consumer confidence to buy a car..or the fact that alot of peoples credit to debt ratio was effected by the loss of equity due to the ripoof of the banks and lack of oversight once again ..and cant get a loan if people with AIG didnt get their bonuses,what about bonuses that were given to anyone else that was culpable but still the question looms..why hasnt anyone filed suit against these banks to get the homeowners money back..after all it was fraud . Lack of oversight was never a problem. I think you will find our problems stemmed from things like central bank, fractional reserve banking, fiat currency, etc. Many people also theorize that the fall of the economy lately was triggered by the housing market bubble. This was caused by OVER REGULATION as i understand it. Community Reinvestment Act pressured banks to give out risky loans. I think another problem was the fact that AIG, and companies like that, would take risks not taken normally BECAUSE they knew the government would bail them out. If the market were left completely alone, it would self regulate. Interfering has caused nothing but problems since the beginning. |
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Edited by
Winx
on
Mon 03/30/09 05:30 PM
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most of these problems were in place before obama took office as far as the lack of oversight ,..i'm just really pissed bthat they are gonna raise the taxes on cigarettes from 39 cents to 1.01.... but the fact that a car company can really do anything in a recession is ridiculus,especially when looming over head is bankruptcy like that is gonna gain any consumer confidence to buy a car..or the fact that alot of peoples credit to debt ratio was effected by the loss of equity due to the ripoof of the banks and lack of oversight once again ..and cant get a loan if people with AIG didnt get their bonuses,what about bonuses that were given to anyone else that was culpable but still the question looms..why hasnt anyone filed suit against these banks to get the homeowners money back..after all it was fraud . Lack of oversight was never a problem. I think you will find our problems stemmed from things like central bank, fractional reserve banking, fiat currency, etc. Many people also theorize that the fall of the economy lately was triggered by the housing market bubble. This was caused by OVER REGULATION as i understand it. Community Reinvestment Act pressured banks to give out risky loans. I think another problem was the fact that AIG, and companies like that, would take risks not taken normally BECAUSE they knew the government would bail them out. If the market were left completely alone, it would self regulate. Interfering has caused nothing but problems since the beginning. Sooo..you're saying that you think that this had nothing to do with Bush's deregulation? If so, I disagree. I say this because you think it's been over-regulated. |
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Edited by
InvictusV
on
Mon 03/30/09 06:50 PM
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Not that it really matters to some, but the Financial Services Modernization Act of 1999, aka Gramm Leach Bliley Bill, was passed by a Senate vote of 90 to 8. Signed by Bill Clinton, not George W Bush..
Notice the year... 1999... Should I type that again? Ok.. 1999.. Here are just a couple of provisions: # Repeals the restrictions on banks affiliating with securities firms contained in sections 20 and 32 of the Glass-Steagall Act. # Creates a new "financial holding company" under section 4 of the Bank Holding Company Act. Such holding company can engage in a statutorily provided list of financial activities, including insurance and securities underwriting and agency activities, merchant banking and insurance company portfolio investment activities. Activities that are "complementary" to financial activities also are authorized. The nonfinancial activities of firms predominantly engaged in financial activities (at least 85% financial) are grandfathered for at least 10 years, with a possibility for a five year extension. Hmmmm... Shall we now reconsider our assumptions and ill conceived notions of blame? here is the link to the full history and provisions of the bill.. Again, notice that 1999 was before George W Bush was President.. http://banking.senate.gov/conf/ |
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It wasn't just the fact that people went out and bought new homes they couldn't afford. How many people that already owned a home, got greedy, went out and bought another one, to later sell at a profit? I live on the Atlantic Coast. When I moved here you could buy an oceanfront 3 bedroom condo for under $100,000. 2 years ago, you couldnt buy an oceanfront 1 bedroom condo for under $1 million. People were still buying them. They built over 10,000 new units, drove up the property values by 400%, and now have 80% empty. Bankers greed. Developers greed. Average people's greed. That is why we are here. Yupper, happened where I used to live too... |
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