Originally posted by steve645Taxpayers should be paying for the mistakes made by those in Wall Street.
Let's hear your opinion. Should taxpayer money be used to support corporations? Corporations that are in financial trouble due to their own greediness and corruption or their failed policies?
However, if you don't do anything the situation is probably going to get worse.
But, on the other hand, it is capitalism, the governement shouldn't intervene with the market, the idea of government hand-outs doesn't sound great.
The bill's already in place, so its going to happen no matter what, It either could have more negative effects, and Obama's credibility would vanish, or it could have more positive effects, and Obama would succced in turning America into a quasi-socialist state.
Lets wait and see what happens.
Originally posted by steve645I'm not happy with Government bailouts, and companies who do accept bailout money should have to pay the money back. 😏
Let's hear your opinion. Should taxpayer money be used to support corporations? Corporations that are in financial trouble due to their own greediness and corruption or their failed policies?
Originally posted by trev33Obviously I have been reading different news that you. You speak of right wing in relation to pro-corp bail outs.
where's the debate?
not even the most right wing politician with connections to said companies is going to come on here and put up a respected reasonable argument for bailing out any corporation.
The news I've read is left wing of congress are supporting these actions which are championed by the left wing president. Votes split on party line in direct opposition to the direction you infer. Are my news sources all wrong?
The banks are getting most of the bailout money. They were given the money to lend it back to us with interest and they will not even do much of that. The economy will not improve until they do and our elected representatives will not do anything about it. This is a huge robbery.
The banks and the news media tell us that the troubled assets are too complex to find out their value. Bull dung! Mortgages are bought and sold all of the time. All they have to do is auction them off. The banks have no incentive to let you know their value because they want to sell them at an overvalued price to the taxpayer.
If we knew the true value we would know how much money it would take to buy the troubled assets and they do not want that. If we actually knew everybody would want the banks to fail. After all, they are not lending us our own money anyway so what is the difference?
Our corrupt government would rather we make payments so we do not know when they will end. I suspect that after a few trillion they will slowly get around to determining their value and tell us it will take another 3 or 4 trillion. That way they can say we are about half way there and we shouldn't stop the bailouts or the three trillion we already spent will be for nothing.
It is a scam.
I personally think that GM and Chrysler should be allowed to fail. Ford is not asking for a bailout but if things got bad enough I think a bailout of Ford might be justified. The amount of money the auto corporations are asking for is not much compared to the banks. The only reason I don't mind seeing GM and Chrysler fail is because they make unreliable cars. They just plain suck.
If our congressmen had much backbone they would threaten to raise the reserve requirements of banks if they do not lend our money back to us with interest. After all, if they are not lending the money why do they need low reserve requirements?
The corporate news media is doing a good job of distracting us from the bank bailouts. The economy depends on banks loaning us our money back. All economists say that no recovery will take place until they do. The whole world economy depends on this but our government does nothing.
The stimulus for economic recovery will do nothing until the banks loan us our money back. Our government does not want a recovery right now. If they did, they would do something to slap the banks into being responsible. Obama is a puppet just like Bush was. That is why the corporate news media gave them so much favorable coverage.
The corporate news media has way too much power because people believe the propaganda. They influence who we vote for and most of us do not realize it. Only when we get our news from alternative news sources will we get our republic back.
All of the politicians that voted for the bank bailouts should be removed from office. That includes Obama and McCain. All of those politicians have exposed themselves as crooks. If they are still in office, the American people (in general) are ultimately to blame for their own ignorance.