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US credit thingy  
folder icon   09-22-2008, 02:37 AM
US credit thingy Post #1
CEO Morgan

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I saw this one coming years ago but no one listened. I was well in time to move all my assets to the more stable European markets but this is not the point.

I am disgusted by the way the US governement keeps pumping tax payer's dollars to save the troubled banks. I mean, wasn't this supposed to be a free market? This nationalisation of the banks is clearly something that belongs to the past Soviet Union or Sweden. The Bush administration is clearly in a love affair with these banks with all its state interventions that disrupt the beautiful logics of the market forces! I condemn it!

If they want some better place to pump public money then let it be my South African gold mine investments or slave trade!

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folder icon   09-22-2008, 05:10 AM
Post #2
Dark Jester

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I thought we banned this guy. Then again, I assume Veegee bans everyone cus he's an angry Jew.

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folder icon   09-22-2008, 10:20 AM
Post #3
kiljaeden

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I was listening to a talk radio show the other day and they were going over the jokes of the late show hosts. Apparently Jimmy Kimmel told one that went as follows: "So the government is going to try a new tactic in which they give a whole bunch of money to try and save these banks...yeah, it's called socialism."

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folder icon   09-22-2008, 12:09 PM
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Jimmy Kimmel is noob.

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folder icon   09-22-2008, 03:58 PM
Post #5
K0d0

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Quote:
Originally Posted by kiljaeden
yeah, it's called socialism."
Except it isnt .

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folder icon   09-22-2008, 06:52 PM
Post #6
Urin_BloodfaceII

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How is it and how isn't it?

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folder icon   09-22-2008, 09:17 PM
Post #7
MeshiMinsh

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Quote:
Originally Posted by K0d0
Except it isnt .
Yeah, it's called common fucking sense.

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folder icon   09-22-2008, 09:59 PM
Post #8
Black~Enthusiasm

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Quote:
Originally Posted by Urin_BloodfaceII
How is it and how isn't it?

You're the one paying thousands of dollars to be able to tell us.

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folder icon   09-22-2008, 11:15 PM
Post #9
kiljaeden

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I just thought that it was funny that Jimmy Kimmel, one of the Hollywood lefties, made that joke.

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folder icon   09-23-2008, 05:13 AM
Post #10
Urin_BloodfaceII

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I'm paying thouseands of dollars to ask questions, thats what I do!

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folder icon   09-23-2008, 05:47 AM
Post #11
Kjell Thusaud

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The more you know the more you can question as I have dicided to always say.

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folder icon   09-23-2008, 09:48 AM
Post #12
Black~Enthusiasm

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Quote:
Originally Posted by Urin_BloodfaceII
I'm paying thouseands of dollars to ask questions, thats what I do!

Didnt you learned about marxism and socialism by studying philosophy?

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folder icon   09-23-2008, 05:18 PM
Post #13
Thorn969

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Some people dispute the fact that it is socialism because the government is giving a lot of cash out and getting very little control or influence in return. Something more like facism, where the government supports corporations rather than government nationalisation of major industries. Additionally, if they are taking any power, it's power over financial institutions, not power over the major means of production traditionally associated with socialism.

And lastly, socialism is usually associated with the government unilaterally taking control of industries, often failing industries, not paying out money to purchase them.

So... there we are. The socialist complaints about this action.

Ralph Nader doesn't go quite that far, but he does say that the government should get a lot more control and benefit if they are paying out this much money compared to what has thus far been promised.

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folder icon   09-24-2008, 01:06 AM
Post #14
~Crusader~

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Quote:
Originally Posted by Thorn969
Ralph Nader doesn't go quite that far, but he does say that the government should get a lot more control and benefit if they are paying out this much money compared to what has thus far been promised.

How about tighter control of pervasive marketing and credit procedures along with extremely high qualifications for loan approval?

Sure it would absolutely decimate the economy, but you know...

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folder icon   09-24-2008, 01:29 AM
Post #15
Gaggin

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Banks are the backbone of a free market economy. Control the banks, and you can control the economy across the board. The Fed does this everyday, and it was put in place to keep major crashes in the economy from happening. By buying up these banks, the Government is doing the same thing, only much more directly. It is damage control. It's not ideally the way to normally run things in a free market, it's temporary, set in place to smooth out the bumps, and put the damage coming in slow-mo so we can hope to dodge it like bullets in the Matrix.

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folder icon   09-24-2008, 02:37 PM
Post #16
so and so

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a bailout isn't the same as nationalization. It's more like favoritism. All this has to do with Clinton repealing the Glass Steagall Act, allowing the selling of bad loans over the stock market.

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folder icon   09-24-2008, 03:00 PM
Post #17
Black~Enthusiasm

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Some have been saying that a solution to this crisis should involve some form of punitive mesures to those who are responsible for the failures of these financial institutions. It should be punitive as a supplementary incentive for more caution in the future, and also so the public wont feel like they're being robbed of nearly one trillion during a fucking financial crisis.

Super Secret Bailout Plan:

Section (A) Give me 700$ billions of taxepayer money and I will fix this poo poo.

Section (B) This page left blank intentionally.

Last edited by Black~Enthusiasm on 09-24-2008 at 03:15 PM.
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folder icon   09-25-2008, 02:50 AM
Post #18
Zorax

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We'd better listen to Morgan; he's a CEO.

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folder icon   09-25-2008, 09:49 AM
Post #19
Kris

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You've got to feel for the comman man who lost their entire life's savings in these ventures, but certainly the banks are really at fault because of greed. The more they lend, the more money they can make. But at some point, you've lent to all the credible people and then start to take on loans from people that can't afford it... selling them loans that you know they can't pay back and putting them into homes they can't afford. It was a matter of when, not if, this would happen.

If the government is going to bail these banks out, then the banks should be responsible for paying back every cent that the government gives them. And quit giving their horrible CEO's huge severance packages too.

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folder icon   11-08-2008, 10:47 AM
Post #20
Justin88

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People finally found out that they were being had.
These companies inflated the stock prices when knowing
all the time they were in trouble.

That made gamblers buy up the stock trying a make a quick
buck while sitting looking at a computer screen. Reality set
in and stocks begin to start dropping. I know more than this
started this mess but that is one of my thoughts on this.
Deflation is also showing up in other places than the market.
I feel sorry for those who jumped in on the bandwagon last year.

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folder icon   11-08-2008, 07:56 PM
Post #21
Kris

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Quote:
Originally Posted by CEO Morgan
I am disgusted by the way the US governement keeps pumping tax payer's dollars to save the troubled banks. I mean, wasn't this supposed to be a free market? This nationalisation of the banks is clearly something that belongs to the past Soviet Union or Sweden.

It's not a permanent solution... the idea is to put money into the banks so that they can survive and not hurt the economy more. When things become stable again, the governement is going to sell it's interest in the banks so they are no longer nationalized.

It's like dominos... if you let one big bank or insurance company fall, it will knock down the next and the next and the next.

It is unfortunate that it came to this, but something seriously has to be done less thousands (millions?) lose their jobs and their life savings. It's not the ideal thing to have to do, but it needs to be done.

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folder icon   11-18-2008, 10:26 AM
Post #22
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Well I think its interesting to note how other countries are dealing with the credit crisis.

USA dumped money into banks, insurance companies and other lenders, plus bought out stocks and partially natioanlised banks.

Europe bailed out a couple big banks and spent most of the rest of their money insuring loans.

Canada injected liquidity into the market by purchasing up good mortgages.

China is injecting liquidity and economic demand by dumping over half a trillion USD into infrastructure, social welfare and affordable housing as well as rural development.

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