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AIG government bailout. ?

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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. :Shouting:

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.
 

eric


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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
 

eric


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well put.

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

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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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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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

I don't think I've ever wanted to hug you more.
 
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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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$10,000 per household in america... (according to some estimates)

that is what a bailout will cost the US taxpayer..

so... how many of you have an extra ten grand sitting around the house?
 
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not me, but I like having a functional economy.
 
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$10,000 per household in america... (according to some estimates)

that is what a bailout will cost the US taxpayer..

so... how many of you have an extra ten grand sitting around the house?


Its not 10k a household, thats just an average they like using to scare the average person. The number is more likely in the few hundred dollars per household, while the top 1% and more specifically the top %0.5 percent of the country will likely be paying most of this burden.

That being said, they are not bailing out companies (ok fine they are), but what they are really trying to bail out is the confidence of the investors so they will be willing to put their money back into the market and get it to take a turn in the other direction. I know for me I have had between 10-20 percent return every day for the last 2-3 weeks. What we need is other people to know its possible and put their money back into the market. When the market starts getting money put back into it, it will go up and the economy will stabalize.

What would be best for the country and the world economy as a whole (historically when our economy takes a significant tank the rest of the world tends to take a downtrend aswell because of the globalization) would be for the deal to be made by friday... remember what we are looking for now is confidance, and that means companies not going bankrupt...and the goverment bailing these companies out will help that. And dont' forget that the goverment is going to demand that it get a share of some of the profits the companies make with its money.
 
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As I understand it now, the "government" is unsure what it wants to do. The administration wants a blank check to do what it wishes with $700 Billion dollars. Congress, on the other hand, is trying to find some consensus on what it should and should not do. The extreme left and right both agree that they hate this entire bailout idea. The center is leaning towards oversight, responsibility, caps and something to help the little guy (us). As long as the administration doesn't get what it wants I am happy to a degree because they have shown what an idiot does with a lots of money and no oversight on what they do with it. I know it will hurt like heck, but I am leaning to the idea of letting the market and those who brought it there fix it with what they have. If they can't, better luck next time.
 
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$10,000 per household in america... (according to some estimates)

that is what a bailout will cost the US taxpayer..

so... how many of you have an extra ten grand sitting around the house?

When it comes to things like income, the mean is a meaningless statistic. The median is a far more meaningful number in that case.
 

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