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Schweb's Lounge Forum for general conversation, chit chat, or most topics that don't fit in another forum.

AIG government bailout. ?


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macgig

 
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so, I hope you taxpayers have tons of money in your pocket.... cause at the end of the day, you will be paying for the big government bailout.... of the mortgage industry.... all the defaulted loans.... you know, for years lenders have been giving loans to broke people, people who should not be buying homes because they can't afford one. Tons of foreclosures nationwide... homes that won't sell, the subprime mess...

govt loans AIG $80 Billion dollars (note: this is not the governments money, it is yours and mine. the taxpayers). I love it when the government tosses money at something like it's theirs. They forget its NOT THEIRS.

everyone thinks the answers to their problems is to get the government to help them... what a crock.
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Don't get me started on the government bailouts, I have very unkind words to say about the subject...


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I think its necessary for the government to bailout, cause if they don't, it could seriously very much lead to a serious recession worldwide since globalization has made other countries very vulnerable to the world's booms and slumps. Although the government is "tossing" money at something like its theirs, it is still necessary and essential.

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Quote:
Originally Posted by calenerd View Post
the government is "tossing" money at something
better than iraq
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i find it funny that the right is very much to blame for this problem, spending way too much money on something essentially ill-planned that got us despised by much of the world and that has killed lots of our soldiers, and distracted much of our focus from post-911 terrorist hunting, that coupled with a laizes-fair attitude towards corporations that are difficult to impossible to hold responsible for anything including their own losses... and they, for the most part, continue to try to peg democrats as tax-and-spend.

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I guess it is now official - reward (profits) are still privatised

Risk (failure) is socialized, the bankers take the profit, the taxpayer bails out the failures
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well put.

virtual +rep. (since i can't give you any more right now).

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I think the days of banks lending money to anyone that breathes is ending.... or giving home (and car?) loans to broke people that should not be buying homes.

btw, debt as we know it today was started by guess who?

The Government.... yep, they created the mess their now trying to fix. lol. When the gov't steps in, it's a sure bet that things will only get worse.
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Quote:
Originally Posted by macgig View Post
btw, debt as we know it today was started by guess who?

The Government.... yep, they created the mess their now trying to fix. lol. When the gov't steps in, it's a sure bet that things will only get worse.

debt tends to come from administrations that borrow rather than tax.

and how does any administration get into their position? we put them there.

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Quote:
Originally Posted by macgig View Post
I think the days of banks lending money to anyone that breathes is ending.... or giving home (and car?) loans to broke people that should not be buying homes.

btw, debt as we know it today was started by guess who?

The Government.... yep, they created the mess their now trying to fix. lol. When the gov't steps in, it's a sure bet that things will only get worse.
Really? Isn't it the lack of oversight and regulation of these lenders giving loans to anyone with a heartbeat that got us into this mess to begin with??

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Lack of oversight and regulation = government's job. So in a way, macgig is right


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Quote:
Originally Posted by calenerd View Post
I think its necessary for the government to bailout, cause if they don't, it could seriously very much lead to a serious recession worldwide since globalization has made other countries very vulnerable to the world's booms and slumps. Although the government is "tossing" money at something like its theirs, it is still necessary and essential.
What's necessary is for these companies to collapse so that sound financial institutions can rise and take their places. Having an economy that is always growing is not practical in a capitalist system, recessions are needed to correct errors and inspire new growth. We should have gone into recession eight years ago after the Internet bubble popped, but since then the government has been patching things up in an attempt to stall recession for as long as possible.

The problem is that we were inevitably going to go into a recession anyway, but since it was put off till later, its effects are going to be greater than they would have been, and will last longer as a result. I can understand the administration not wanting to be blamed for a recession on its watch, but it made things far worse in attempting to forestall it, and now we're paying the consequences.

Another huge issue at hand with these bailouts is that the Fed is pumping out money at a higher rate, and that can mean only one thing: an increased rate of inflation. We shouldn't be bailing out these companies by printing more money, we need to let them crumble for their irresponsible tactics while preserving the value of the dollar and not going into more debt with foreign nations. The government is currently behaving like a teenage girl who just got her hands on daddy's platinum card and is trying to spend as much as possible before she's caught and has to give it back.


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Quote:
Originally Posted by louishen View Post
I guess it is now official - reward (profits) are still privatised

Risk (failure) is socialized, the bankers take the profit, the taxpayer bails out the failures
Not only that loiushen but the all those public servants (what a misnomer that is) with their fingers in private enterprise. Great for the IRS I guess.
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Quote:
Originally Posted by louishen View Post
I guess it is now official - reward (profits) are still privatised

Risk (failure) is socialized, the bankers take the profit, the taxpayer bails out the failures
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Privatize the whole lot of it!

The biggest problems with these bail-outs are:
-The Fed is doing it which is unconstitutional as it is only congress who is to spend money.
-The Fed isn't really taking our money, they are just printing it (85 Billion i think) and handing it over. This in effect makes our dollar weaker by increasing the supply of it and also increasing deficit.

Abolish the Federal Reserve and elect a congress with balls enough to do something and then we will see our economy rebound.

Did you know Ron Paul predicted this stuff like 5 years ago?

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