gimmiethescoop.com— You knew that we just gave AIG $160B dollars, but did you know that $90B of it wen tto the same banks whose recklessness created the housing bubble? Here's how it works.
May 29, 2009View in Crawl 4
so when does the fed run out of ink? that looks like it is the only way this ride to financial ruin will end.we should not have bailed out the first one. we should have let free enterprise run its course. but then someone would have had to "fail" and it seems today that no one should have to fail regardless of their poor choices. now the entire process has turned into a political machine being used to line up the votes for 2010 and 2012. sickening.
"I am a taxpayer who lived below his means and voted specifically AGAINST anyone who voted for this bail out along with urging others to do the same. Please explain how I am culpable for anything in this whole mess."It's hard, I know, but in a democracy there will always be compromise. Unless everyone agrees on everything, compromise is inevitable.As to your original post, I understand the frustration people are feeling over the bailouts. I don't believe they were just a handout of money for no good reason. Those who put the bailouts in place and voted for them believed they were necessary for the stability of the economy. It's hardly unprecedented--governments in the past (including ours) have spent money just to stabilize the economy (although certainly not on this scale before). I know many people would have liked to see our government ditch the bailout and let these financial institutions fail, but the truth is now that it has happened we will never know exactly what would have happened with no bailout.Personally, I do believe the bailout was necessary to preserve the stability of the financial system. I think many new reforms must be put in place, but I think letting AIG and all these other institutions fail would have created a disastrous domino effect. BUT I may be wrong! And we will never really know, because we could choose one option. Now we should just hope it was the right one.I will not digg you down.
I wish I could digg this comment more than once.Even those borrowers and homebuyers who DID realize the loan maybe wasn't so great, they were pacified because the value of their home was almost guaranteed to go up since the bubble was on the upswing. Buy a house, you get rich! It doesn't matter if the loan's terms are s**tty.
not the deabeats fault all the way, but they have to share in the blame. what goes up must come down, whether its gravity or the business cycle and everyone should have known that. the corporations and worthless deadbeats should share the blame.
sanibelsnookMay 30, 2009
so when does the fed run out of ink? that looks like it is the only way this ride to financial ruin will end.we should not have bailed out the first one. we should have let free enterprise run its course. but then someone would have had to "fail" and it seems today that no one should have to fail regardless of their poor choices. now the entire process has turned into a political machine being used to line up the votes for 2010 and 2012. sickening.
jaq524May 30, 2009
"I am a taxpayer who lived below his means and voted specifically AGAINST anyone who voted for this bail out along with urging others to do the same. Please explain how I am culpable for anything in this whole mess."It's hard, I know, but in a democracy there will always be compromise. Unless everyone agrees on everything, compromise is inevitable.As to your original post, I understand the frustration people are feeling over the bailouts. I don't believe they were just a handout of money for no good reason. Those who put the bailouts in place and voted for them believed they were necessary for the stability of the economy. It's hardly unprecedented--governments in the past (including ours) have spent money just to stabilize the economy (although certainly not on this scale before). I know many people would have liked to see our government ditch the bailout and let these financial institutions fail, but the truth is now that it has happened we will never know exactly what would have happened with no bailout.Personally, I do believe the bailout was necessary to preserve the stability of the financial system. I think many new reforms must be put in place, but I think letting AIG and all these other institutions fail would have created a disastrous domino effect. BUT I may be wrong! And we will never really know, because we could choose one option. Now we should just hope it was the right one.I will not digg you down.
diguptruth77May 30, 2009
I wish I could digg this comment more than once.Even those borrowers and homebuyers who DID realize the loan maybe wasn't so great, they were pacified because the value of their home was almost guaranteed to go up since the bubble was on the upswing. Buy a house, you get rich! It doesn't matter if the loan's terms are s**tty.
rahsutJun 1, 2009
you are completely right, however its not just the corporations at fault here. the people have some fault too and should own up to it
rahsutJun 1, 2009
not the deabeats fault all the way, but they have to share in the blame. what goes up must come down, whether its gravity or the business cycle and everyone should have known that. the corporations and worthless deadbeats should share the blame.
kitymajereJun 1, 2009
Show me. I like information of all kinds.
govtdoesnotworkJun 8, 2009
They can sure buy the "inflation protected" variety, though. Isn't that odd??
graceannaJun 28, 2009
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