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post #51 of 112 (permalink) Old 04-22-2009, 07:44 PM
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That suggests how you would punish those who failed. It does not however address the 10s of Millions of people who are affected by the collateral damage caused by those errors. It does not address the failing banks and the crippled 401K accounts, the diminished housing value and equity value of those 85% of Americans who didn't do wrong but found their financial world unbalanced as well. It doesn't address the potential for a completly collapsed financial sector which would move this from a deep recession to a depression [we just had the first quarter to have consumer prices FALL since 1955, by the way].

So, forgetting the punishment phase, what about the 85% that just got caught up in the crossfire?
Food for thought . . . who is getting the immediate benefits of the bailouts? I understand your domino theory, but it seems that a lot of folks with a whole lot of money get the immediate benefit. Why hasn't BO fired them for doing a piss poor job or taking unacceptable risks?

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post #52 of 112 (permalink) Old 04-22-2009, 07:46 PM
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First, you are completely incorrect. Let's look at the numbers and facts [I know those can get in the way of a good rant]
  • We are, until September 30, 2009 still under the last Bush Budget that was submitted last summer and passed last year.
  • The TARP funds, both trances were introduced by TresSec Paulson [Bush's Secretary] and account for $700Billion
  • The Stimulus package, at $818Billion belongs to Obama and the Democrats
  • No other funds have been spent, and additional funding is "netting" or committed on worst case 100% bailout of the entire system, it is not debt, nor is it assigned debt. Current projects show "actuals" at near $3.65Trillion, still stupid large money but...
  • Bush, from 2001-2009 contributed $6Trillion to the National Debt taking it from just under $5Trillion to just under $11Trillion the day he left office.

The only key at this point is to focus on stabilizing the economy and then working on growing it again, this time in a measured, adult fashion, instead of allowing unregulated "trust" that greed would not guide the system.
Ummm . . . did Bush's budget include the $818 billion stimulus? If not, then how does it remain his budget?

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post #53 of 112 (permalink) Old 04-22-2009, 07:47 PM
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You and ol' Joe Biden are trying to pretend that the next terrorist attack (oops, I mean "test")--invited by our naive new President--is to be expected, just because you say so. President Bush was proactive in making sure there was NOT another attack (oops, I mean "test"); and the rest of the world knows that. You and ol' Joe need to wise-up before it is too late.
You might want to read intel from before the election when there was not a known new president. But keep up the obfuscation. It looks good on you.

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post #54 of 112 (permalink) Old 04-22-2009, 07:47 PM
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Everything was passed under demos control.

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post #55 of 112 (permalink) Old 04-22-2009, 07:49 PM
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yep them 24 Moldovan sure come in handy
Someone has to make the Chocolate deserts.

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post #56 of 112 (permalink) Old 04-22-2009, 07:50 PM
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Someone has to make the Chocolate deserts.
My thought exactly. Or maybe they were babes for the Officer Club
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post #57 of 112 (permalink) Old 04-22-2009, 07:56 PM Thread Starter
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You might want to read intel from before the election when there was not a known new president. But keep up the obfuscation. It looks good on you.
I'll let you keep reading intel. I'll keep participating in the real world.

Don't believe everything you think
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post #58 of 112 (permalink) Old 04-22-2009, 08:02 PM
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Food for thought . . . who is getting the immediate benefits of the bailouts? I understand your domino theory, but it seems that a lot of folks with a whole lot of money get the immediate benefit. Why hasn't BO fired them for doing a piss poor job or taking unacceptable risks?
If you use the GM CEO or AIG CEO or Freddie CFO as examples, they were. As were others.

The immediate benefit of the bailout is two fold. Do the managers/officers/stockholders of the financial institutions get some relief? SOME. Considering much of their "bonuses" in the past were paid in stock and many of the companies stock went from $70 to $0.50, there is already a wet blanket on that party.

But the second benefit has been, and we have all seen it since TARP kicked in in October in that we have NOT had any MAJOR banks collapse and the big banks are starting to regain liquidity. That, along with unwinding all the contractual messes that they have themselves in but here and internationally is making the sector stronger. THAT, if allowed to cure will build a recovery. I don't think a lot of people realize just how close we came, back in the fall to a complete meltdown. We were cascading bank failures worldwide on a daily basis. If I had still had my money in ANY financials that were not fully liquid I would have been absolutely numbed, understanding just how a life of savings and earnings could vanish in a week. A safe with a stack of little gold coins and safe stocks and hourly manipulation of my investments are all that kept me comfortable and happy.

So to answer your question better, that "whole lot of folks" that are getting benefit is really a incredibly small group of people, numbering less than a few thousand, and many are still on the job trying to unwind and rebuild the mess that was created by them and others so that the 300 Million can have a decent foundation for our financial sector. It's certainly not perfect but the alternatives are minimal.

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post #59 of 112 (permalink) Old 04-22-2009, 08:03 PM
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I'll let you keep reading intel. I'll keep participating in the real world.
I'm glad that, in retirement you have decided to try new things. Good for you.

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post #60 of 112 (permalink) Old 04-22-2009, 08:06 PM Thread Starter
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I'm glad that, in retirement you have decided to try new things. Good for you.
You should try it some time.

Don't believe everything you think
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