i remember lookin at the TV like
after seeing how both McCain and Obama blindly supported the stimulus package.
They say hindsight is 20/20... So looking back to 2008, do we still bail the banks out?
- Thread starter OsO
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after seeing how both McCain and Obama blindly supported the stimulus package.Sbp
Superstar
I applied for a bailout of my traphouse around that time they never even responded to my letter
People have no IDEA how bad it would have been
I'll reserve my judgment for a few more years.
I don't trust these execs/CEO's....a few years from now we might find out most of that money somehow "disappeared", and we'll wound up right back where we were before.
I don't trust these execs/CEO's....a few years from now we might find out most of that money somehow "disappeared", and we'll wound up right back where we were before.
Letting them burn was the right call regardless of how much it hurt.
NOLetting them burn was the right call regardless of how much it hurt.
I WILL EXPLAIN IN THE AM
what kind of infrastructure?i agree.
although the issue is those in charge of monitoring and regulating the market didn't do their jobs, which is how we got into the situation in the first place. until the regulators get out from under the lobbyists and grow some balls it's useless to try and have them regulate the same people who are paying them off. they know which side their bread is buttered on.
i agree with that too.
but i put less blame on the consumer because when it comes to a sting who is more responsible? the one getting hustled, or the one doing the hustling? one knows better, the other does not.
but to your point, buyers should have definitely been more diligent in reading their contracts. although i can see how it would be easy to take advantage of people who are new to the whole loan/home buying process.
i wonder why you don't see this in the news
JPMorgan CEO Jamie Dimon gets 74% payrise; to $20 million
Despite the fact that JPMorgan was hit with $20 billion worth of fines during 2013, Dimon will receive $1.5 million for the year. That base salary is virtually unchanged from the year before, but the company will also pay him an additional $18.5 million in restricted stock, according to a public filing with the Securities and Exchange Commission.
JPMorgan also settled cases involving its role in selling bad loans that precipitated the 2008 financial crisis, including a $13 billion agreement with the Department of Justice announced in November.
In spite of all these penalties – the company was also included in the group of banks fined 1.7 billion euros for manipulating lending rates – JPMorgan’s stock price has risen about 22 percent over the last year. Following a quarterly loss for the first time in 10 years during the third quarter of 2013, the company recently reported a profit of $5.28 billion in the fourth quarter.
average folks out here going bankrupt, losing their life savings, working check to check just to make ends meet and STILL struggling... while wall street posts record profits on the back of our tax dollars
the transfer of wealth my friends.
i think 50 lashes in the public square would be more effective
i am also of the opinion these financial "schemes" are planned far in advance.
i remember lookin at the TV like
that's the part i was actually NOT surprised by. there's only one party-the CORPORATE party.
I applied for a bailout of my traphouse around that time they never even responded to my letter
so at this point we have avoided the catastrophe in your opinion?
breh that already came out. they originally asked the public and congress for 700 billion, but when the receipts came out the total was well into the trillions.
not only that, but the money managers in the government and the fed even refused to tell CONGRESS who they gave some of the money to. i remember congress going through the bailout balance sheet with bernake on capital hill and asking who these people/organizations were who received the bailout money... bernake gave them the greenspan-fed-talk strategy which basically amounts to
imagine YOUR accountant not telling YOU how he spent YOUR money
Vandelay
Life is absurd. Lean into it.
@LeyeT
Highways, power grid, sewer system, bridges, dams...
Doesn't take much to see it's falling apart.
The jobs that it would have created would be jobs that had have liveable wages without the need to artificially inflate other low skill, low wage jobs and it would have pumped monwey back into the economy, and tax dollars back to the government.
Not a perfect solution, but better than what we have now.
Highways, power grid, sewer system, bridges, dams...
Doesn't take much to see it's falling apart.
The jobs that it would have created would be jobs that had have liveable wages without the need to artificially inflate other low skill, low wage jobs and it would have pumped monwey back into the economy, and tax dollars back to the government.
Not a perfect solution, but better than what we have now.
Domingo Halliburton
Handmade in USA
whether the banks got bailed out is besides the point.
So what is the point in your opinion?
Red Shield
Global Domination
old ass thread.. but anyway
All that was done.. was the can got kicked. And when this shyt finally goes... it will be far worse than it would have been in 08.
a WPA pt2 woulda been great... but too late for that now
