Comments on: Feds Dip Into Bailout Package To Help AIG
New $40B Infusion Boosts Total Aid To Troubled Financial Giant To $150B
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- They are updating all world Dictionary with the New Definition of Capitalism:
A system where the Gains or Profit is Privatized and the Losses is Socialized. The system where the head of the Corporations are not responsible for their mistakes. The system where Greed is King and nobody including the Government can Regulate it. The system where everyone looks the other way when they see Corruption. - Reply to this comment
- More Dems voted for this than Repubs--including Obama.
Sheesh....
Posted by easeup at 04:24 PM : Nov 10, 2008
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Ah, but who could have vetoed it? - Reply to this comment
- Forget Paulson, Bernanke, and Greenspan. Let this retired physics teacher fill you in on the 4 rules for creating a sound economy.
1. There is to be no buildup of debt. That which can not be paid back in a reasonable period (say 7-10 years) should never be lent and debt that can''t be repaid should be forgiven and forgotten.
2. Wealth does not come from spending, or even saving, but from investing.
3. No wealth is to be passed on from one generation to the next - no permanent group of aristocrats. Each generation, and each child, is to make his or her own way. No more Kennedy''s, Rockefellers, etc. who never had to work a day in their life.
4. There is to be no concentration of wealth. Ultimately, the world''s riches belong to us all, not to a select few. You are paid if you develope the earth''s resources, but you don''t own them. Therefore, ALL working people deserve a fair share of the world''s wealth if they are willing to work. No billionaires paying minimum wages in America or sweatshop wages in foreign countries - or bringing in so-called ''guest'' workers to this country for exploitation.
If these 4 principles make any sense to you, then just ask and you may be surprised where they came from. - Reply to this comment
- You cant have it both ways!
Posted by legacyABQ at 05:15 PM : Nov 10, 2008
The "both ways" doctrine was born after the panic of 1907, when collapse of our economy was narrowly averted by ONE wealthy person, J.P. Morgan, pledging half of his fortune to back up the entire banking system, which was suffering a series of chain-reaction bank failures. It worked, barely, and economic collapse was prevented.
After that, it was generally recognized that the nation could not go on relying on the wealth of one benevolent person to prevent loss of confidence. After the crash of 1929, FDR established the SEC and the FDIC in an effort to preserve confidence in the stock market and the banking system.
This is what started the public reliance on the federal government to lend a sense of security, because they experienced what happened from the lack of government regulation.
This crisis occurred because somebody meddled with the system. Banks were deregulated, and new kinds of financial vehicles were invented (derivatives and credit default swaps) without any corresponding regulation. This upset the system to the point of returning us to the panic/crash scenarios that played out in 1907 and 1929.
Those who fail to learn from history are destined to become extremely wealthy, powerful, and successful by dooming the REST OF US to repeat it. - Reply to this comment
- From now on I will never let my vote indicate that I approve of the flub-a-dub who got elected.
Posted by swin5 at 03:32 PM : Nov 10, 2008
Aww, come on! Don''t let the trolls get you down.
EVERYBODY knows that almost NOBODY votes FOR a candidate. They vote to make a political statement, which usually is "I don''t like the other candidate," so they''re voting AGAINST the other guy. - Reply to this comment
- How exactly is it that we generate wealth anymore?
Where is the economic sanity?
Posted by legacyABQ at 05:09 PM : Nov 10, 2008
ANSWERS, IN ORDER:
1: We borrow it.
2: I think we outsourced it sometime around 1994. - Reply to this comment
- What really pisses me off is all the people who rant and rave about "free-market" economics.. Let the "market" decide. Let the money decide..
Well, the economics have spoken: these companies screwed up, so where''s the call to apply this "market medicine"?? Where is it?
Let them fall!
THAT would be along the lines of this market philosophy people rave about..
Let the market correct itself, by letting top-heavy risk-taking insolvent companies DIE like they should.
Otherwise,
PLEASE STOP WITH THE ALL-KNOWING MARKET RULING EVERYTHING PHILOSOPHY, unless you think that capitalists should put there monbey where there mouth has been: and let these companies fall!!
the market has spoken!!
You cant have it both ways! - Reply to this comment
- swin5
avoice
EXACTLY.. Thank you..
This economy is fundamentally unsound because it is tipped vastly towards consumerism and retail.
We import EVERYTHING now.
How exactly is it that we generate wealth anymore?
Where is the economic sanity? - Reply to this comment
- ROFLMAO!!!!!!!!!!!!!!! americans are soooo stupid!
- Reply to this comment
- Now the fascists can give even more of our money away to their CEOs and friend before they go under.
Posted by noloyalisti at 04:11 PM : Nov 10, 2008
More Dems voted for this than Repubs--including Obama.
Sheesh.... - Reply to this comment
