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BrianG
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09.30.2008, 12:24 AM

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Originally Posted by Arct1k View Post
Which bank are you going to go to - wamu, wachovia, merrill lynch, lehman, bear? There will be few left soon RBS, B&B, Northen Rock in the UK.
Wasn't WaMu one of the banks that folded?
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skellyo
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09.30.2008, 12:32 AM

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Wasn't WaMu one of the banks that folded?
They were bought by JP Morgan Chase.
   
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JThiessen
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09.30.2008, 12:32 AM

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Originally Posted by spaz163 View Post
To be honest I am not much of the politcal type but 700 billion dollars is a lot o cash. What would happen if instead of giving it to wallstreet... they split it up evenly amongst all of the legal us citizens... I don't know off hand how many people are in the US right now but I bet it would be a decent chunk of change for each person...
That would come to about 425 bucks per person. Woo Hoo......

My thought(s):
Everything in our country is overpriced - from houses to medical to common labor to stocks to even RC's!
Jobs are being exported overseas in bundles because our US owned companies can get labor cheaper overseas.
Our financial market as it exists today has been overinflated by funny financial engineering and speculation.
The way things are going, if you aint got it now, you aint gonna get it. And for many, your gonna lose it because you are going to loose your job to someone overseas. Why, because you (and I) wont work for 10K a year, 'cause I make 90K a year doing it now. Nor can we - we couldnt afford to live on that.
The one and only way to bring things back to where they "should be" (justified financial market based on real numbers, housing that people can justifiably afford) is for this thing to crash. The majority of the loosers are going to be those that live via credit. But generally speaking, they have set themselves up for this fall anyway. Yes, there will be some collateral damage, but in the long run, we will be better for it.
If anything, what our government needs to do is take a lesson from FDR, and create real jobs with public projects (roads and dams were what they did - maybe alternative power plants or something is what we could do). Put Americans back to work and they will start spending. Some banks will survive. Others will start up.


Losi 8T 1.0, Savage Flux - XL style, LST XXL, Muggy, 3.3 E-Revo Conversion and sitting outside 425hp, 831 Tq Dodge Ram Turbo Diesel. It SMOKES
   
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sikeston34m
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09.30.2008, 12:48 AM

Ummm, can we just ask ourselves a few questions here?

Where did this mess really start? I believe it all began when we seen our brother and sister citizens jumping from the burning twin towers.

I believe it started with the Heroes that went down in that Pennsylvania field.

I believe it started with the Pentagon being crashed into through an orchestrated attack on our American Society.

Our ancestors (and some of us) fought in wars on foreign soil. But NEVER before had something like this ever happened. The closest thing was Pearl Harbor, but the death toll of 9/11 exceeded that.

We responded by declaring war on terrorism. We declared war on Iraq in the name of "Weapons of Mass Destruction". Did we find any? No. What are we still doing there?

They say everything will be lost if we pull out now. But IMO, I believe after generations and generations of fighting, it's going to happen if we stay or if we pull our troops out.

#1. We are paying for the War! Bring our boys home. I think we should tell Iraq, we have problems at home. We need our boys back. If you want our help, then you are going to have to help us for a change. I never understood why we as a country, go in, blow everything off the map, then pay to rebuild it all.

#2. Bring our jobs back home. Control or at least regulate imports. Concentrate on Exports.

#3. Do something to bring the price of Petroleum back down. The oil companies are sucking us dry. Transportation costs of our essential needs only adds to the squeeze. Which leads me to #4.

#4. Develop new Energy Technologies. The Hydrogen Generation will come and is coming. Oil Companies will always produce and we will always use it. But we have to get off it as being a "have to have thing.". This so-called "Energy Crisis" that we are in, they started harping about back in the 70's. Why didn't we do something then?

Lots of reasons. Every Inventor that came up with something useful was bought out or gotten rid of entirely. Why did Ford crush the EV's they made in the late 90's? When Oil Companies become sooooooo wealthy they can have ALOT of influence. Both in other companies, AND in our Government!

What happened to the Cars that got 50mpg? Now they are selling "Go Green" Hybrids that don't get that. (Money under the table?)

There are alot of answers that are sitting right under our noses in the form of undiscovered technologies. I believe we are too "programmed" by the doom and gloom of the media, and the pressure of the economy overall to really look.

What happened to the day when a man could go make a decent living for his family and do it on only one income? You better have some real skills and some tricks up your sleeve if you're going to do so.

Two incomes, both Husband and Wife are working these days. Then I ask, where does this leave the children?

The Children are our future.

I think we have too much government. Too many lawmakers making laws that take away our rights.

This post could go on forever, but I'm glad the bill didn't pass.
   
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JThiessen
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09.30.2008, 01:17 AM

I think it started long before 9-11. Remember the days of the internet based stock hype. Amazon stock was 150 bucks a share and they never showed a profit....thats the type of stuff that put us where we are.


Losi 8T 1.0, Savage Flux - XL style, LST XXL, Muggy, 3.3 E-Revo Conversion and sitting outside 425hp, 831 Tq Dodge Ram Turbo Diesel. It SMOKES
   
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crazyjr
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09.30.2008, 06:21 AM

Quote:
Originally Posted by JThiessen View Post
I think it started long before 9-11. Remember the days of the internet based stock hype. Amazon stock was 150 bucks a share and they never showed a profit....thats the type of stuff that put us where we are.
I agree that it started before the 9-11 tragedy, but i didn't follow things then like i do now. Like the vid implied, Many banks were blackmailed into giving subprime loans to those who didn't deserve them. I'm glad i got away from the credit game before this happened, I never worked for them, but was a good contributor. Credit only works when you don't need it, When you need it to work, you are screwed


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TexasSP
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09.30.2008, 10:45 AM

These things in the end all be all were started by morons with too much power (our government) and now we look to these same morons with too much power to solve it.

It's seriously time we as citizens hold our crap politicians and their crap policies responsible and clean house. This is Republican or Democrat, they BOTH have caused the problem. They spend like drunken sailors at the least, and most of money we don't have. Democrats blame the Republicans and President, however it takes congress to do it too, Republicans and the President blame the Democrats, however they vote for the same garbage as well.

We as a people are coming to the point were we need to revolt against our failed politicians and clean house, completely. We as the people should start with an immediate spending freeze on the government.

We still were never given a reason of why 700 billion and what is so significant with that number, much less where the money will go and how it will be controlled and by whom.

You know it is a shame that as nutty as Ron Paul is, he still has many valid and true points about are political structure. If we could only get the good ideas of his in someone a little more sane to vote for, at least enough people to replace all politicians we currently have in the federal government.


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Last edited by TexasSP; 09.30.2008 at 10:47 AM.
   
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JThiessen
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09.30.2008, 12:10 PM

Quote:
Originally Posted by TexasSP View Post
Democrats blame the Republicans and President, however it takes congress to do it too, Republicans and the President blame the Democrats, however they vote for the same garbage as well.
I get so sick and tired of listening to that crap. It really turns me off to the whole political interest side of life. The only ones that pay attention to it at themselves and the moronic media. I think its time to abolish the parties. Set the stage for a new political system that more matches our countries demographic profile.

On a side note, looks like investors are buying up bargains today.


Losi 8T 1.0, Savage Flux - XL style, LST XXL, Muggy, 3.3 E-Revo Conversion and sitting outside 425hp, 831 Tq Dodge Ram Turbo Diesel. It SMOKES
   
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rabosi
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09.30.2008, 12:17 PM

I think you're on the right track texasSp. IMO the root cause of all this is pure and simple GREED. We're a greedy species. We always want more and when you mix that with a position of power and/or manipulation you end up where we are now. If that could somehow be controlled I think we'd all be better off. I have a feeling that if we didn't bailout these bastards that we'd be ok in the long run plus it would teach them a nice lesson but i don't know enough about economics. Let it burn and maybe new growth rises out of the ashes??
   
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Arct1k
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09.30.2008, 12:25 PM

Sorry but who are the " these bastards " - It is not wall street - This is about your pension, health insurance, mortage and house... Or tell me you have no credit cards, mortgage, debt, health insurance or pension.

This is not a fat cat bailout...
   
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Arct1k
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09.30.2008, 12:27 PM

Brian all those banks have folded! I could add Fortis, Hypo and an Icelandic bank to the list to!

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Wasn't WaMu one of the banks that folded?
   
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crazyjr
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09.30.2008, 12:51 PM

Quote:
Originally Posted by TexasSP View Post
These things in the end all be all were started by morons with too much power (our government) and now we look to these same morons with too much power to solve it.

It's seriously time we as citizens hold our crap politicians and their crap policies responsible and clean house. This is Republican or Democrat, they BOTH have caused the problem. They spend like drunken sailors at the least, and most of money we don't have. Democrats blame the Republicans and President, however it takes congress to do it too, Republicans and the President blame the Democrats, however they vote for the same garbage as well.

We as a people are coming to the point were we need to revolt against our failed politicians and clean house, completely. We as the people should start with an immediate spending freeze on the government.

We still were never given a reason of why 700 billion and what is so significant with that number, much less where the money will go and how it will be controlled and by whom.

You know it is a shame that as nutty as Ron Paul is, he still has many valid and true points about are political structure. If we could only get the good ideas of his in someone a little more sane to vote for, at least enough people to replace all politicians we currently have in the federal government.
I couldn't agree more, I admit i never voted, only because i never seen anything i would want from any politition.

The 700 billion, according to Glen Beck, yes i watch it every day, From one of his guests yesterday, was just a high number to throw out to haggle on. No real reason, just a high number to put fear into the govt. so they would jump

Honestly, Bob Barr is the only one that says what i want. Small govt., Drill now and invest in green tech, and abolish the current tax system. If i vote, I might vote for him, he's the only one that makes sense to me


Work because i gotta, play because i wanna

People here hate Nitro, I love it. I start it, run it about 50 ft from me and it dies, I go after it. Perfect exercise
   
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TexasSP
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09.30.2008, 01:09 PM

Another thing I think we need is strict term limits. All terms 6 years, no re-election, no running for another office while serving in an elected office. ie: If you are currently a senator or governor, you can not run for office of the president.

Maybe a special clause to allow 1 second term but only in drastic/emergency situations and only with a majority 2/3rds vote by the citizens. Personally I think we should have more votes by citizens and less by politicians. Let private sector individuals/groups be able to introduce bills/resolutions and not just politicians.

Of course what really scares me is I think the movie Idiocracy isn't that far from reality......


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  (#29)
Cowboy
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09.30.2008, 01:15 PM

Who needs Al-Qaeda. Our government is doing a better job destroying our country than Al-Qaeda ever did.
   
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rabosi
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09.30.2008, 04:59 PM

Quote:
Originally Posted by Arct1k View Post
Sorry but who are the " these bastards " - It is not wall street - This is about your pension, health insurance, mortage and house... Or tell me you have no credit cards, mortgage, debt, health insurance or pension.

This is not a fat cat bailout...
The bastards would be anyone who knowingly sought to profit via deceptive practices among other things that we probably don't know about. As far as the bailout goes i didn't say I wasn't for it. I just don't know. The problem is how can you trust the people who say you need a bailout when they are part of the problem.
   
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