Failing Financial Institutions

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Post 3+ Months Ago

grinch2171 wrote:
They need to take that 700 billion and split it among all of us taxpayers. A guy I work with heard about a bunch of people requesting this at the tune of $400,000 per taxpayer. I wouldn't mind getting that check in the mail.


I'm in! Where do I sign? :)
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  • joebert
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Quote:
They need to take that 700 billion and split it among all of us taxpayers. A guy I work with heard about a bunch of people requesting this at the tune of $400,000 per taxpayer. I wouldn't mind getting that check in the mail.


I wouldn't mind either, it wouldn't be fair though. I'm a tax payer & I doubt I've made $400,000 in my life, let alone payed that much in taxes.
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Post 3+ Months Ago

But why should failing institutions be bailed out because they tried to get rich off the people?

The bailout is equal to every man, woman and child in America paying roughly $2300. Thanks for the stimulus checks guys, you should have just kept it.
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Post 3+ Months Ago

Maybe we should consider the possibility that we just don't spend $700 BILLION on anything. I'm not sure there's a fire to be put out. There's not even a metric to determine how they got to that number.
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Post 3+ Months Ago

I'm not sure either. No one can really say what will happen if the government doesn't bail anyone out. The word depression gets thrown around but do they really know. The bailout will weaken the dollar which will drive oil up again. People may be able to keep their homes but why should they? They shouldn't have agreed to the loan in the first place. Let them all fail and maybe they will learn their lesson and we will be a better country for it.
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Post 3+ Months Ago

digitalMedia wrote:
I mean, I'm not even sure why we should be panicked. Everytime news commentators ask someone to explain this in English, they say something about it being complicated, they drop the word depression and then sidestep the question entirely.


This is exactly why I quit watching the news and reading the papers. It almost seems to me like the major news outlets are creating a panic amongst the public just to have another news story the next day. I believe it was Garfield who said "If its on tv it must be true". If the lay people see that two or three rich guys are going broke, then it it must be the bad economy, panic!!! This bailout crap is a big deal, but I think Brian Williams and his media buddies are making things worse than they really are. NPR is the one news outlet I will pay attention too, they just seem to present the information in the least subjective way.
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Post 3+ Months Ago

Quote:
But why should failing institutions be bailed out because they tried to get rich off the people?


From what I've seen on the news, investors like Warren Buffet & Donald Trump seem to think the US Government stands to make a lot of money by going through with this bail out.

If that happens, tax payers will either pay less taxes for a time later, or the money will go to improving the quality of life in the US.


I don't know much about stocks, bonds, and all of that, but I do know that the best investments are always made in proven companies suffering during hard times.
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Post 3+ Months Ago

kc0tma wrote:
It almost seems to me like the major news outlets are creating a panic amongst the public just to have another news story the next day.



Well, I can agree with the suspicion of the panic. But, as far as news outlets creating it? I don't think so. The guys that hit the big read panic button are Mr. Bush, Mr. Paulson and Mr. Bernake.
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Post 3+ Months Ago

Media outlets aren't the root cause of the panic (financial crisis is), but they are feeding the fire.
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Post 3+ Months Ago

Fair enough.
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Post 3+ Months Ago

Some times I wish I could just cut all ties with the modern world and just go out to the mountains and be like Jeremiah Johnson and just wander around and fend for myself. That would be the life......
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Post 3+ Months Ago

700 billion is about 3 years of how much the government gets from collecting taxes from us (heard that on the news). It is also more money than we have spent on the Iraq war. That is an insane amount they are spending for this bailout.
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Post 3+ Months Ago

I've got a sad sob story to tell here. It's getting toward the end of the month and bills are piling up, so last night I called my banks automated thing to see how much money I had, about $300. So I payed my motorcycle loan payment and insurance on my motorcycle loan, $65 left in my account. That is the closest I have been to going in the hole since high school, and it is a damn good thing today was payday because rent is due in a few days. That's not good, and I know for a fact that there are entire families who have it worse than I do. I applaud those families who can scratch along and still keep a smile on their face. Just think how much better things would be if we didn't have the Iraq debt and if oil\gas prices weren't so high.

Today after work I'm dropping my cell phone plan and maybe dropping my internet, that will save me $50 and $40 a month respectively. And no more eating out either, another $100 a month saved. That will hopefully make a bit of a difference.
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Post 3+ Months Ago

It's nice to see the top executives of these banks are being denied their multi-million dollar severance packages by the Government.
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Post 3+ Months Ago

susanqy2 wrote:
It's nice to see the top executives of these banks are being denied their multi-million dollar severance packages by the Government.


I doubt it will take most companies and CEOs more than 5 minutes to figure out how they're going to get paid. ;) I mean really, I think we all recognize that bit as fluff.

Personally, I hope the current bailout bill fails. I think its premise is too flawed.

Lots of people made bad and greedy decisions. So we're going to erase their mistakes to let them continue making bad and greedy decisions - for our own good? Thanks, but no thanks.

They can add all the fluffy stuff they want to this legislation, it's still just perfuming a turd.
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Post 3+ Months Ago

Damn, they passed it pretty easily too. So we shall see how this is going to help us in the long run.
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Post 3+ Months Ago

If the US government has $700B to go throwing around, they should have led by example and paid off the national debt first.
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Post 3+ Months Ago

I don't believe we have $700B to just throw around. It will increase our national debt.
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Post 3+ Months Ago

Exactly what I was saying. If the money was even in existence, paying debts would be the responsible thing to do. Just like how if you get a loan for the car and your payments are only $150 a month but you can afford to pay $250, then go for it and be done with your debt that much sooner.
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Post 3+ Months Ago

Screw programming, I'm going to get into Politics.
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Post 3+ Months Ago

THE 700 BILLION DOES NOT EXIST, IT IS MONEY CREATED FROM NOTHING BY THE FEDERAL RESERVE. THE FED IS OWNED BY OTHER BANKS, IT IS A PRIVATE BANK, SAME AS THE BANK OF ENGLAND, THERE IS NOTHING FEDERAL ABOUT IT. They print the money, charge interest on this money to the government. The only people that win from this system are the big banks. So the 700 billion is printed out of thin ait, loaned to the government and interest is charged, then it is loaned back to the banks at a lower interest rate. The interest paid by government is collected in only one way, TAXES!

Here is an excerp from an article my company published way back in July in a blog. It makes for very interesting reading.

In 1694 the world's first privately owned central bank was created. It was to be called the Bank of England. The Bank's charter included the following immortal words: "The bank hath benefit on the interest on all monies which it creates out of nothing."

Full article is here:

http://www.beanrocket.com/lease2u/3701/ ... al%3F.html
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Post 3+ Months Ago

I read something somewhere about some of this $700 billion being put towards funding small business something or another.

Anyone know what I'm talking about and where I can find out more about it ?
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Post 3+ Months Ago

calvi36 wrote:
THE FED IS OWNED BY OTHER BANKS, IT IS A PRIVATE BANK, SAME AS THE BANK OF ENGLAND, THERE IS NOTHING FEDERAL ABOUT IT...


While I agree that this action is wrong, the "Fed" is not a private institution, actually. While it has private parts( hehehehe -private parts :) ) it is a governmental institution. I don't know about the Bank of England in that regard.

http://en.wikipedia.org/wiki/Federal_reserve

I've heard this argument about the Fed before. It's usually espoused by people who believe, erroneously, that paying income tax is illegal or optional.
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Post 3+ Months Ago

Paying taxes actually is optional, in a sense.

You can chose to either pay taxes, or find things to write off instead.
Wealthy people don't pay taxes, they write everything off.
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Post 3+ Months Ago

digitalMedia wrote:
calvi36 wrote:
THE FED IS OWNED BY OTHER BANKS, IT IS A PRIVATE BANK, SAME AS THE BANK OF ENGLAND, THERE IS NOTHING FEDERAL ABOUT IT...


While I agree that this action is wrong, the "Fed" is not a private institution, actually. While it has private parts( hehehehe -private parts :) ) it is a governmental institution. I don't know about the Bank of England in that regard.

http://en.wikipedia.org/wiki/Federal_reserve

I've heard this argument about the Fed before. It's usually espoused by people who believe, erroneously, that paying income tax is illegal or optional.



Hi DM,

Don't take my word for it bud. Listen to what your own countrymen say about it, especially Greenspan.

http://www.liveleak.com/view?i=eab_1222880177
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Post 3+ Months Ago

I claim everything I can as a deduction but that's only to calculate a "taxable income".
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Post 3+ Months Ago

calvi36 wrote:
Hi DM,

Don't take my word for it bud. Listen to what your own countrymen say about it, especially Greenspan.

http://www.liveleak.com/view?i=eab_1222880177


No offense friend, but I think I'm going to go with Wiki on this one. ;)
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DM, here are another two for you, from inside the Fed. It's a part 1 part 2 set.

http://www.liveleak.com/view?i=09c_1212482197

http://www.liveleak.com/view?i=f35_1212483744

Amazing what is going on under peoples noses!
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Post 3+ Months Ago

joebert wrote:
Quote:
But why should failing institutions be bailed out because they tried to get rich off the people?


From what I've seen on the news, investors like Warren Buffet & Donald Trump seem to think the US Government stands to make a lot of money by going through with this bail out.

If that happens, tax payers will either pay less taxes for a time later, or the money will go to improving the quality of life in the US.


I don't know much about stocks, bonds, and all of that, but I do know that the best investments are always made in proven companies suffering during hard times.


Reality check here Joe!

We have seen oil prices drop by 30% have we seen fuel prices drop at the pumps by the same percentage?

We have seen the prices on gas( natural gas for our American friends) go up by 25%-40% in the UK. Electricity prices by the same amount. Don't you get it? Are our noses blocked? Why can't we smell the coffee? Simple reason is this, THEY don't want us to smell no coffee.

Money will not go into improving quality of life, the only way anyone gets a quality of life is by borrowing, which equals credit which equals the same vicious circle.

The banks should have been bankrupted as they have done to millions of people world wide.

Does my government care about small businesses like mine? Do they *peach* (excuse the language) I am so pissed off with this. It is fabricated.
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Post 3+ Months Ago

What the hell are you bitching about, you're in Scotland !
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