More troubled bank news

FiveB247x
FiveB247x Posts: 2,330
edited April 2009 in A Moving Train
Widely under-reported. The government is taking on more risk from the troubled banks. The Obama admistration has dropped the ball on the banking problems big time. Either nationalize the banks or let them fail, this middle of the road jargin is half-assed measures which will find half-assed results!

http://www.npr.org/blogs/money/2009/04/ ... .html#more
CONservative governMENt

Our government is the potent, the omnipresent teacher. For good or for ill, it teaches the whole people by its example. Crime is contagious. If the government becomes a law-breaker, it breeds contempt for law; it invites every man to become a law unto himself; it invites anarchy. - Louis Brandeis
Post edited by Unknown User on

Comments

  • Commy
    Commy Posts: 4,984
    agreed. i'm all for nationalizing them.

    imagine the worst case scenario-and tha'ts exactly what happened. greed ruled the day.

    couldn't possibly be any worse under government(ie public) oversight.
  • VINNY GOOMBA
    VINNY GOOMBA Posts: 1,826
    Commy wrote:
    agreed. i'm all for nationalizing them.

    imagine the worst case scenario-and tha'ts exactly what happened. greed ruled the day.

    couldn't possibly be any worse under government(ie public) oversight.

    If it WERE actually PUBLIC oversight, I would agree with you.
  • FiveB247x
    FiveB247x Posts: 2,330
    They are dragging the process out, wasting larger amounts of tax payer monies without securing the return of those funds. The Obama administration has basically half-assed government involvement and private control, while not directing their funds to adjust the necessary issues. Basically a free handout which does nothing more than boost stock-holders. I think when people look back at these bailouts whether for the banks, housing or others, people will recognize they totally dropped the ball without decisive actions and strong, tough decisions and because they acted in the manner they did, it prolonged the recession and greatened the amounts needed to fix the problem. We basically have partial nationalization of banks with tax-payers funds, yet the private companies are spending and using it for the wrong areas with no real oversight to do otherwise. We should have either let them fail and just created massive amounts of programs and benefits for citizens in need with all those bailout funds or taken them over with full control.
    Commy wrote:
    agreed. i'm all for nationalizing them.

    imagine the worst case scenario-and tha'ts exactly what happened. greed ruled the day.

    couldn't possibly be any worse under government(ie public) oversight.
    CONservative governMENt

    Our government is the potent, the omnipresent teacher. For good or for ill, it teaches the whole people by its example. Crime is contagious. If the government becomes a law-breaker, it breeds contempt for law; it invites every man to become a law unto himself; it invites anarchy. - Louis Brandeis
  • soulsinging
    soulsinging Posts: 13,202
    FiveB247x wrote:
    Widely under-reported. The government is taking on more risk from the troubled banks. The Obama admistration has dropped the ball on the banking problems big time. Either nationalize the banks or let them fail, this middle of the road jargin is half-assed measures which will find half-assed results!

    http://www.npr.org/blogs/money/2009/04/ ... .html#more

    They're just prologing and postponing the inevitable, hoping someone figures out a way to unfuck us. And it isn't going to work.
  • FiveB247x
    FiveB247x Posts: 2,330
    Well you are partly correct, they're proloning the inevitable, but they've already shown they're not trying to unscrew the taxpayer in this scenario, if anything all they're proving is they're trying to restore the business sector back to the same level of production, consumption and profit while somehow removing the greed and corruption from the scenario. Now if you're asking yourself if this is possilbe, the obvious answer is no, but they're trying their hardest to get it to work, sadly at our cost.
    soulsinging wrote:
    They're just prologing and postponing the inevitable, hoping someone figures out a way to unfuck us. And it isn't going to work.
    CONservative governMENt

    Our government is the potent, the omnipresent teacher. For good or for ill, it teaches the whole people by its example. Crime is contagious. If the government becomes a law-breaker, it breeds contempt for law; it invites every man to become a law unto himself; it invites anarchy. - Louis Brandeis
  • Commy
    Commy Posts: 4,984
    VINNY GOOMBA wrote:
    Commy wrote:
    agreed. i'm all for nationalizing them.

    imagine the worst case scenario-and tha'ts exactly what happened. greed ruled the day.

    couldn't possibly be any worse under government(ie public) oversight.

    If it WERE actually PUBLIC oversight, I would agree with you.
    even so.

    how could it possible be any worse.

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