The Presidents speech 9/24/2008...

JMS · 09-25-2008, 03:02 AM

...Turned my stomach!!
I'll expound later when I don't feel like vomiting!

Anyone else want to comment?

denmason · 09-25-2008, 03:45 AM

All I can say is that I am even more against the bailout than I was before. Get ready for 4 more years. We can "see" a new enemy and it is economic.

Brother Jeeter · 09-25-2008, 04:39 AM

The ONLY way I would support a bailout, is if everyone involved in crashing several large banks/financial institutions, ARE BROUGHT TO TRIAL! I mean the guys who cooked the books and took millions in bonuses they wouldn't have been entitled to, without the number juggling.
I don't care if they ARE on the staff of a Senator (insert your favorite name here.) They shouldn't be above the law. Give 'em the same treatment Ken Ley got!

WireBeard · 09-25-2008, 06:15 AM

Sounds like one group of wealthy making excuses to cover for another group of wealthy....they have been skirting with disaster for years and now they come to the taxpayers with their hands out...."we made a boo-boo...."

It's time to see some of these execs doing hard time, the "regulators" who allowed it to happen should be in the prison chow line next to them.

Now we see the results of "creative accounting"........

Chris L · 09-25-2008, 06:34 AM

Quote:

Originally Posted by WireBeard

and now they come to the taxpayers with their hands out...."we made a boo-boo...."

I would go a step further and say that I don't believe we taxpayers have any say in this matter. They're not going to ask us if it's OK to bailout any of these companies that continue to fall. Batten down the hatches and put on the flack jackets, my friends.

I've had a theory for years that democrat and/or republican administrations are really just part of a larger cyclical controlled governmental fleecing the non-wealthy scheme; but that's another debate for another day.

Chris L

Bruno · 09-25-2008, 06:36 AM

Quote:

Originally Posted by Chris L

I've had a theory for years that democrat and/or republican administrations are really just part of a larger cyclical controlled governmental fleecing the non-wealthy scheme; but that's another debate for another day.

Chris L

Denmason, is that you ??

denmason · 09-25-2008, 06:56 AM

Quote:

Originally Posted by Bruno

Denmason, is that you ??

might be contagious...

WireBeard · 09-25-2008, 07:16 AM

Quote:

Originally Posted by Chris L

I would go a step further and say that I don't believe we taxpayers have any say in this matter. They're not going to ask us if it's OK to bailout any of these companies that continue to fall. Batten down the hatches and put on the flack jackets, my friends.

Hmmmm...the administration (until today) opposed limits on executive compensation AND any court or regulatory oversight. Congress - shockingly - wasn't budging. I can't believe the parasites that have driven companies into the ground still have the nerve to want exit bonuses? Flack jackets? Based on what is coming out of DC, I think Crisco may be more helpful...the taxpayers are getting bent over yet again.

There's never a barrel of hot tar and a couple hundred pounds of feathers around when you need them.......

JMS · 09-25-2008, 07:33 AM

Admin, we need a tarred and feathered smiley please

Quick Orange · 09-25-2008, 08:12 AM

All I know is I'm going to be buying some SHTF gear. If the government is leaving troops here to deal with "civil unrest", something deathly serious might be in the works. I don't intend to to be sitting on my hands if something akin to marshal law is enacted. Not that I plan on starting any trouble of course...it just might come to a point where we go to the mattresses.

Brother Jeeter · 09-25-2008, 08:16 AM

There's never a barrel of hot tar and a couple hundred pounds of feathers around when you need them.......

WireBeard

Admin, we need a tarred and feathered smiley please

JMS

Gentlemen, we are in complete 'agreeance' here.

Jeeter

Photoguy67 · 09-25-2008, 01:12 PM

The thing that bothers me the most about this is in America we have the right to the pursuit of happiness which also means we have the right to failure, why does the government feel they need to step in and stop anyone from failure? That is the free market at work. Let them fail and someone else smarter will step up and start another company, do it right and NOT fail.
Photoguy67

ScottS · 09-25-2008, 01:46 PM

Just seems like his presidency has run out of time, so he's speeding up his efforts to steal all of our money and give it to his friends.

denmason · 09-25-2008, 03:59 PM

There is no other way to describe it. Wall Street is ecstatic that the American people will be forced to cough up the cash for another trip back to the roulette wheel.
Meanwhile China has just halted all loans to US banks.

jockeys · 09-25-2008, 04:03 PM

I don't care what spin the prez puts on it, socialism is never ok in my book.

ScottS · 09-25-2008, 04:06 PM

Quote:

Originally Posted by jockeys

I don't care what spin the prez puts on it, socialism is never ok in my book.

Socialism is good compared to what's really going on, which is out and out theft. The original Paulson plan offered zip in the way of ownership by the gov't. If we come out of this holding any real assets at all for our $700 billion, we're doing better than Bush wanted us to do.

JMS · 09-25-2008, 04:13 PM

Quote:

Originally Posted by ScottS

Socialism is good compared to what's really going on, which is out and out theft. The original Paulson plan offered zip in the way of ownership by the gov't. If we come out of this holding any real assets at all for our $700 billion, we're doing better than Bush wanted us to do.

There is little difference between theft and government enforced socialism! (thanks Lee!)

Mike7120 · 09-25-2008, 04:22 PM

Quote:

Originally Posted by Quick Orange

All I know is I'm going to be buying some SHTF gear. If the government is leaving troops here to deal with "civil unrest", something deathly serious might be in the works. I don't intend to to be sitting on my hands if something akin to marshal law is enacted. Not that I plan on starting any trouble of course...it just might come to a point where we go to the mattresses.

I've been working on my SHTF gear for a while now. I have a very nice Bug-Out-Bag with all the essentials. Also, I live in the country so my location is good for Bugging-In.

Purvis · 09-25-2008, 04:42 PM

Anyone remember when the government took everyones gold back in the 1930's?
Right after that the Federal Reserve was instituted to control the value of money.
Now the Fed wants to take all our property via cheap value of our bank loans.
Freddie and Fannie are already government run orgs that control the loans.
I smell something and I don't like it either boys.

Sean

English · 09-25-2008, 05:24 PM

When I borrowed money to purchase my first house, the lenders rule was simple.

You must find the first 5% of the asking price and the lender would lend up to a maximum of 2.5 times your gross salary. There wasn't such a thing as a credit card.

Lending money makes the banks lots of money.

So they changed the rules and gave money out to anybody who asked. Sorry lets make that clear, they took the money you had saved in the bank and let people with no security borrow that money either as housing loans or as balances on credit cards.

So your Government wants you the taxpayer to provide the missing security so the banks don't go to the wall.

In England, my Goverment has already started to provide the missing security.

I think you should support your Government, because they are trying to protect the ordinary man in the street from more pain.

As for the Bankers who made this mess, they should have their wealth taken from them. They should loose their jobs and they should go to prison for a period of time to be punished for the pain and misery they have caused to you and me. This of course won't happen.