Throwing money at the problem hasn't worked so far; but that's hardly a good enough reason to stop, is it?
I don't see it as just throwing money at the problem and this isn't a problem that is going to be quickly fixed. It can get quickly worse though and I think that's will happen if the government doesn't act.
Stop thinking the government is some great and righteous thing. Its evil and corrupt. It will never handle money well.
I don't think it's great or rightous Rex. This could go from a recession to a depression though and yeah I'm guilty of thinking it possible that the government can prevent that. Even with the flawed first part of the bailout the stock market responded positively or negatively depending on if it looked like it was going to get passed or not.
you think the daily ups and downs of the market have improved the economy? it's worse now than when they went up right after the announcement. are you really that dumb or just acting?
you think the daily ups and downs of the market have improved the economy? it's worse now than when they went up right after the announcement. ?
The bailout wasn't going to fix everything right away BSAMS. It came to be because they're afraid of it getting much worse than just a really bad recession.
Throwing money at the problem hasn't worked so far; but that's hardly a good enough reason to stop, is it?
I don't see it as just throwing money at the problem and this isn't a problem that is going to be quickly fixed. It can get quickly worse though and I think that's will happen if the government doesn't act.
Stop thinking the government is some great and righteous thing. Its evil and corrupt. It will never handle money well.
I don't think it's great or rightous Rex. This could go from a recession to a depression though and yeah I'm guilty of thinking it possible that the government can prevent that. Even with the flawed first part of the bailout the stock market responded positively or negatively depending on if it looked like it was going to get passed or not.
I give up. There is no hope for you. You are one of those people that trust the government completely and want them to control everything from money to people's thoughts. You are a complete waste of a human and unfortunately there will be more of your kind once obama has taken over.
November 6th, 2012: Americas new Independence Day.
President-elect will allow gays to serve openly in the military,
If you know what he means....
whomod said: I generally don't like it when people decide to play by the rules against people who don't play by the rules. It tends to put you immediately at a disadvantage and IMO is a sign of true weakness. This is true both in politics and on the internet."
A new Gallup shows that 62 percent of Americans support blocking the release of the remaining $350 billion in TARP funds until more details are provided about how they would be used, with an additional 12 percent saying they should be blocked entirely. Only 20 percent believe the money should be released.
Obama plans to wash away the years of the Bush Administration wasting taxpayer dollars with his own era of wasteful spending.
whomod said: I generally don't like it when people decide to play by the rules against people who don't play by the rules. It tends to put you immediately at a disadvantage and IMO is a sign of true weakness. This is true both in politics and on the internet."
$25B Wasn't Enough: Shares of Bank of America hit 52-week lows after the company negotiated $15 billion more in TARP funds
Do the editors of this news station not know the stocks went up when it was initially announced they were getting free money? MEM has told me that made giving away $350 billion worth it.
Yeah, because, after all, it isn't as if Obama is already making public policy statements, appointing high-ranking government officials and urging passage of legislation or anything.
Meh, I heard the same shit by people like you when Clinton was elected G-man. We've fought most of these 8 last years with you defending Bush, I'm sure we'll fight the next 8 positions reversed. Hopefully things will get back to where they were during the Clinton era and you can bitch about how Obama stalled the recovery.
Technically, he drinks it. It is a liquid, after all.
Do you think that, when MEM takes it up the ass from whichever anonymous gay he's picked up in the fleshbars of Minnesota on a given night, he still screams "give me the strap on Hillary"? Or has he moved on to crying "slip me the sweet bratwurst Mandingo"?
Technically, he drinks it. It is a liquid, after all.
Do you think that, when MEM takes it up the ass from whichever anonymous gay he's picked up in the fleshbars of Minnesota on a given night, he still screams "give me the strap on Hillary"? Or has he moved on to crying "slip me the sweet bratwurst Mandingo"?
this is one youtube clip whomod and dems don't like.....it proves who is at fault for this mess.
Yes, it's not about the eeeeviilll Republicans preventing regulation, it's about the Democrats over-regulating, requiring millions of home mortgage and business loans to poor individuals who couldn't afford them, who inevitably defaulted on their financial obligations. In Democrats' costly attempt to use our financial system for social engineering.
And quite a few of the architects of this mess are prominent advisors to the Barack Obama campaign. One of whom was on the committee to select Obama's Vice President.
And incredibly, the Democrats blame their own mess on the Republicans who warned them not to do it.
And I agree, McCain should be pounding these facts to the public in stump speeches and campaign ads.
and
Originally Posted By: Wonder Boy, yesterday
It scares me that the four men most responsible for the economic meltdown, are still making the economic decisions for this country.
Schumer, Dodd, Barney Frank, and Obama (Obama is the second largest recipient of Fannie Mae/Freddie Mac campaign donations, second only to Christopher Dodd, and Dodd took 20 years to accumulate his cash pile from Fannie/Freddie, while Obama accumulated over $110,000 in barely 2 years. And Fannie Mae's CEO was on Obama's Vice Presidential vetting committee )
And despite their clear guilt, these four Dems are even more powerful than they were before the election.
President Obama thinks it is "outrageous" that securities firms paid their top executives $18.4 billion in bonuses last year, White House spokesman Robert Gibbs said this afternoon.
He added that the president will have more to say about this later today.
Though the amount of money paid in bonuses was well below the $33 billion paid in 2007, they were paid in a year when the financial sector's crisis led to a more than $700 billion -- so far -- federal bailout.
Update at 3:45 p.m. ET. "Shameful".
The cable news networks just showed video, taken a few minutes ago, of the president expressing his outrage:
For the firms to pay billions in bonuses last year "is the height of irresponsibility," Obama said. "It is shameful."
Wall Street firms need to "show some restraint and show some discipline and show some sense of responsibility," he added.
They can't be "digging a bigger hole even as (taxpapers are) being asked to fill it up!"
"One point I want to make is that all of us are going to have responsibilities to get this economy moving again. And when I saw an article today indicating that Wall Street bankers had given themselves $20 billion worth of bonuses -- the same amount of bonuses as they gave themselves in 2004 -- at a time when most of these institutions were teetering on collapse and they are asking for taxpayers to help sustain them, and when taxpayers find themselves in the difficult position that if they don't provide help that the entire system could come down on top of our heads -- that is the height of irresponsibility. It is shameful.
"And part of what we're going to need is for folks on Wall Street who are asking for help to show some restraint and show some discipline and show some sense of responsibility. The American people understand that we've got a big hole that we've got to dig ourselves out of -- but they don't like the idea that people are digging a bigger hole even as they're being asked to fill it up.
"And so we're going to be having conversations as this process moves forward directly with these folks on Wall Street to underscore that they have to start acting in a more responsible fashion if we are to together get this economy rolling again. There will be time for them to make profits, and there will be time for them to get bonuses -- now is not that time. And that's a message that I intend to send directly to them, I expect Secretary Geithner to send to them -- and Secretary Geithner already had to pull back one institution that had gone forward with a multimillion dollar jet plane purchase at the same time as they're receiving TARP money. We shouldn't have to do that because they should know better. And we will continue to send that message loud and clear."
For the firms to pay billions in bonuses last year "is the height of irresponsibility," Obama said. "It is shameful."
Good thing we didn't give them billions of taxpayer dollars to do that.
whomod said: I generally don't like it when people decide to play by the rules against people who don't play by the rules. It tends to put you immediately at a disadvantage and IMO is a sign of true weakness. This is true both in politics and on the internet."
We may never know whether the government's $700 billion bailout of the financial industry worked, according to a new report from congressional auditors.
That's because it will be impossible to sort out which of the recent rule changes and spending programs have made a difference, according to the report released Friday by the Government Accountability Office.
The report covers Treasury's administration of the bailout, called the Troubled Asset Relief Program, through Jan. 23. Nearly $294 billion had been released by that date — almost $200 billion of it through a program to inject capital directly into financial institutions.
The roughly $200 billion in capital injections doesn't include any of the separate money authorized to guarantee losses for Bank of America Corp. and Citigroup Inc., or about $20 billion to stabilize automakers Chrysler and General Motors Corp.
"Even with more time and better data, it will remain difficult to separate the impact of TARP activities from the effect of other economic forces," the report said.
Recent moves to improve oversight of the money hadn't gone far enough, according to the report. Treasury introduced a plan to survey the 20 largest participating firms each month following an earlier GAO report that blasted the program's lack of transparency.
More information about how the money was divided and how recipients spent it was still necessary, the new report said.
"We continue to believe that additional action is needed to better ensure that all participating institutions are accountable for their use of program funds," the GAO said.
The report also said Treasury had "taken important steps" to address nine recommendations from the earlier report, which included calls to improve communication about the bailout and hire staff to oversee it.
But Treasury "has yet to fully address eight" of the recommendations, the report said.
"The lack of a clearly articulated vision has complicated Treasury's ability to effectively communicate to Congress, the financial markets, and the public on the benefits of TARP," the report said.
whomod said: I generally don't like it when people decide to play by the rules against people who don't play by the rules. It tends to put you immediately at a disadvantage and IMO is a sign of true weakness. This is true both in politics and on the internet."
I'm sure MEM will explain to us how life on the planet Earth would have ended back in Sept. if the bailout had never been passed.
whomod said: I generally don't like it when people decide to play by the rules against people who don't play by the rules. It tends to put you immediately at a disadvantage and IMO is a sign of true weakness. This is true both in politics and on the internet."
I'm sure MEM will explain to us how life on the planet Earth would have ended back in Sept. if the bailout had never been passed.
Nope. It's not really important to me that we differ in opinion and on this one I'm not nor wasn't sure what the effects of the bailout would have. The threat of what could have happened though and seeing Bush willing to go against his conservatism was enough for me to support it.
Nope. It's not really important to me that we differ in opinion and on this one I'm not nor wasn't sure what the effects of the bailout would have. The threat of what could have happened though and seeing Bush willing to go against his conservatism was enough for me to support it.
So... you're now denying your bullshit excuses that the bailout prevented greater financial devastation? Got it.
whomod said: I generally don't like it when people decide to play by the rules against people who don't play by the rules. It tends to put you immediately at a disadvantage and IMO is a sign of true weakness. This is true both in politics and on the internet."
Nope. It's not really important to me that we differ in opinion and on this one I'm not nor wasn't sure what the effects of the bailout would have. The threat of what could have happened though and seeing Bush willing to go against his conservatism was enough for me to support it.
So... you're now denying your bullshit excuses that the bailout prevented greater financial devastation? Got it.
If I gave you the impression that I knew for a fact that the bailout prevented greater financial devastation my apologies. I'm not sure how you could get that impression since if it was all somehow provable there wouldn't have been much debate to begin with.
...seeing Bush willing to go against his conservatism was enough for me to support it.
So you were/are less concerned about what was/is good for the country and more concerned with what makes the other political party look bad.
Got it.
That pretty much sums up MEM up right there.
That and
...
Not surprising that you would read that in such a way. What I meant though was that when Bush was willing to do the bailout despite his conservatism, that made me even more concerned. It wasn't glee at seeing Bush do something that would probably piss off his party but a warning of how bad is it that he's willing to do this type of thing?