/dev/null Posted October 9, 2008 Share Posted October 9, 2008 http://apnews.myway.com/article/20081009/D93MS0L80.html So private banks are having trouble? In order to prevent a collapse the gov't wants to prop them up by claiming a public stake The auto makers are having trouble. How long til the gov't tries to prop them up by claiming a stake? The airlines? Utilities? Link to comment Share on other sites More sharing options...
meazza Posted October 9, 2008 Share Posted October 9, 2008 http://apnews.myway.com/article/20081009/D93MS0L80.html So private banks are having trouble? In order to prevent a collapse the gov't wants to prop them up by claiming a public stake The auto makers are having trouble. How long til the gov't tries to prop them up by claiming a stake? The airlines? Utilities? Welcome to Communist USA Link to comment Share on other sites More sharing options...
molson_golden2002 Posted October 9, 2008 Share Posted October 9, 2008 http://apnews.myway.com/article/20081009/D93MS0L80.html So private banks are having trouble? In order to prevent a collapse the gov't wants to prop them up by claiming a public stake The auto makers are having trouble. How long til the gov't tries to prop them up by claiming a stake? The airlines? Utilities? Ya, let's let the whole f'n world fall apart just to preserve ideological purity! Great idea! Link to comment Share on other sites More sharing options...
erynthered Posted October 9, 2008 Share Posted October 9, 2008 http://apnews.myway.com/article/20081009/D93MS0L80.html So private banks are having trouble? In order to prevent a collapse the gov't wants to prop them up by claiming a public stake The auto makers are having trouble. How long til the gov't tries to prop them up by claiming a stake? The airlines? Utilities? They just loaned them 25 billion. Link to comment Share on other sites More sharing options...
Typical TBD Guy Posted October 9, 2008 Share Posted October 9, 2008 Ya, let's let the whole f'n world fall apart just to preserve ideological purity! Great idea! So the world is going to fall apart if we don't hurry up and socialize any business that is deemed "too big to fail?" Remember when the Bushies said we had to invade every country in the world before they make nukes and attack us? Fear-mongering pot, meet fear-mongering kettle. Link to comment Share on other sites More sharing options...
Joe Miner Posted October 9, 2008 Share Posted October 9, 2008 http://apnews.myway.com/article/20081009/D93MS0L80.html So private banks are having trouble? In order to prevent a collapse the gov't wants to prop them up by claiming a public stake The auto makers are having trouble. How long til the gov't tries to prop them up by claiming a stake? The airlines? Utilities? Now that summer is over, the neighbor kid's lemonade stand is starting to go under. Can the government buy some stakes in it so that he can stay in business? It's really good lemonade. Link to comment Share on other sites More sharing options...
molson_golden2002 Posted October 9, 2008 Share Posted October 9, 2008 So the world is going to fall apart if we don't hurry up and socialize any business that is deemed "too big to fail?" Remember when the Bushies said we had to invade every country in the world before they make nukes and attack us? Fear-mongering pot, meet fear-mongering kettle. Remember when Herbert Hoover said everything was going to be fine if we just did nothing and let the market correct itself? Link to comment Share on other sites More sharing options...
KD in CA Posted October 9, 2008 Share Posted October 9, 2008 The auto makers are having trouble. How long til the gov't tries to prop them up by claiming a stake?The airlines? Utilities? This has already been going on for years with those industries, except the gov't hasn't been claiming a stake in the company for it's bailout "loans". And there's more to come. Who do you think is going to pay all the pension and retiree health benefits for employees from those industries? Link to comment Share on other sites More sharing options...
Joe Miner Posted October 9, 2008 Share Posted October 9, 2008 Remember when Herbert Hoover said everything was going to be fine if we just did nothing and let the market correct itself? As long as you can get your Hot Pocket fixes, then who cares about the long term ramifications. Link to comment Share on other sites More sharing options...
TPS Posted October 9, 2008 Share Posted October 9, 2008 http://apnews.myway.com/article/20081009/D93MS0L80.html So private banks are having trouble? In order to prevent a collapse the gov't wants to prop them up by claiming a public stake The auto makers are having trouble. How long til the gov't tries to prop them up by claiming a stake? The airlines? Utilities? It's a better option than what they previously touted and something I mentioned in one of the discussions about the bailout. Supposedly, "we are the government." It creates a greater likelihood of a "return on our investment" of $700 billion. When we're through this mess in a few years, the government can sell its equity stake--by low, sell high! Link to comment Share on other sites More sharing options...
molson_golden2002 Posted October 9, 2008 Share Posted October 9, 2008 As long as you can get your Hot Pocket fixes, then who cares about the long term ramifications. What about the long term ramifications of doing nothing? Ding! Link to comment Share on other sites More sharing options...
Joe Miner Posted October 9, 2008 Share Posted October 9, 2008 What about the long term ramifications of doing nothing? Ding! Good question. This is where you muster up as much rational and logical thought as possible, do a lot of research, talk to several people that know more than you, try your best to clearly define all of the possible outcomes of each situation, and try to decide what the best path is. Oh, here's a hint. There's a lot more options that doing nothing and government buying stakes in the banking system. So get back to us when you've done all that work and have an intelligent answer to the problem. Link to comment Share on other sites More sharing options...
finknottle Posted October 9, 2008 Share Posted October 9, 2008 Remember when Herbert Hoover said everything was going to be fine if we just did nothing and let the market correct itself? Hoover blew it, but let's not forget that the consensus of historical opinion has shifted to the view that Roosevelt's policies prolonged and deepened the Depression. Link to comment Share on other sites More sharing options...
Typical TBD Guy Posted October 9, 2008 Share Posted October 9, 2008 Remember when Herbert Hoover said everything was going to be fine if we just did nothing and let the market correct itself? Before you pull out the "Hoover Card" on me, first prove that you are not such an intellectual lightweight by explaining how the following were examples of free market capitalism: 1. The Federal Reserve's dramatic increase of the U.S. money supply throughout the 1920's. 2. The passing of the Smoot-Hawley Tariff Act in 1930. 3. Repeal of the Coolidge-Mellon tax cuts in 1932. I'm anxiously waiting. Link to comment Share on other sites More sharing options...
stuckincincy Posted October 9, 2008 Share Posted October 9, 2008 So the world is going to fall apart if we don't hurry up and socialize any business that is deemed "too big to fail?" Remember when the Bushies said we had to invade every country in the world before they make nukes and attack us? Fear-mongering pot, meet fear-mongering kettle. Sigh...here we go again. Iraq Liberation Act of 1998: http://www.iraqwatch.org/government/US/Legislation/ILA.htm Democrats on Weapons of Mass Destruction: http://www.snopes.com/politics/war/wmdquotes.asp Link to comment Share on other sites More sharing options...
/dev/null Posted October 9, 2008 Author Share Posted October 9, 2008 And there's more to come. Who do you think is going to pay all the pension and retiree health benefits for employees from those industries? The Feds already manage the pension plans of companies that have gone breasts up or were merged into another company with no pension plan Link to comment Share on other sites More sharing options...
molson_golden2002 Posted October 9, 2008 Share Posted October 9, 2008 Hoover blew it, but let's not forget that the consensus of historical opinion has shifted to the view that Roosevelt's policies prolonged and deepened the Depression. The consensus?? Can you back that up? I know the libertarian wackos are promoting that view but I haven't seen anyone else pushing. Please provide a link, I'd be interested in looking at something. Link to comment Share on other sites More sharing options...
molson_golden2002 Posted October 9, 2008 Share Posted October 9, 2008 Before you pull out the "Hoover Card" on me, first prove that you are not such an intellectual lightweight by explaining how the following were examples of free market capitalism: 1. The Federal Reserve's dramatic increase of the U.S. money supply throughout the 1920's. 2. The passing of the Smoot-Hawley Tariff Act in 1930. 3. Repeal of the Coolidge-Mellon tax cuts in 1932. I'm anxiously waiting. Hoover and his party were in power for all those things. So I'm pulling the Hoover card on you again I guess. Let me add, the money supply should hve been expanded during the 1920's, as the economy expanded The Smoot Hawley tariff was terrible decision And undoing Andrew Mellon's regressive tax policies was a good idea. Link to comment Share on other sites More sharing options...
Joe Miner Posted October 9, 2008 Share Posted October 9, 2008 Hoover and his party were in power for all those things. So I'm pulling the Hoover card on you again I guess. Let me add, the money supply should hve been expanded during the 1920's, as the economy expanded The Smoot Hawley tariff was terrible decision And undoing Andrew Mellon's regressive tax policies was a good idea. Reading Comprehension should be the next topic you need to google. Link to comment Share on other sites More sharing options...
molson_golden2002 Posted October 9, 2008 Share Posted October 9, 2008 Reading Comprehension should be the next topic you need to google. I understand what he is saying, government caused all problems. Blah, blah, blah. Link to comment Share on other sites More sharing options...
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