NashVegas
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Tue Mar-18-08 07:46 AM
Response to Original message |
| 61. We're Never Going to Legislate These Corporations Away |
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Hasn't it been proven enough for you?
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| -Explain this logic to me? How is letting banks fail and consumers go belly up a good thing? |
Blackhatjack |
Mar-15-08 09:40 AM |
#0 |
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Ask Herbert Hoover - He'll Tell You How Well It Works |
MannyGoldstein |
Mar-15-08 09:42 AM |
#1 |
  -
hate |
ananda |
Mar-15-08 09:53 AM |
#8 |
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Yep [nt] |
MannyGoldstein |
Mar-15-08 09:59 AM |
#11 |
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I think you are right |
NNN0LHI |
Mar-15-08 10:01 AM |
#13 |
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i certainly can't see the logic of expanding this pain |
xchrom |
Mar-15-08 09:46 AM |
#2 |
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But so far all the $billions are going to the big boys, and not to the smaller banks/consumers... |
Blackhatjack |
Mar-15-08 09:46 AM |
#3 |
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The housing market SHOULD be in a free fall |
PSPS |
Mar-15-08 09:54 AM |
#9 |
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You are correct |
daa |
Mar-15-08 10:00 AM |
#12 |
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THIS time if government bails out the banks . . . WE OWN THEM . . . |
defendandprotect |
Mar-16-08 02:19 AM |
#43 |
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CEOs get to retire with their bonuses & unbrellas? |
Kittycat |
Mar-15-08 09:47 AM |
#4 |
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There are two answers to that. |
Birthmark |
Mar-15-08 09:48 AM |
#5 |
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Because doing otherwise amounts to public funding of a criminal enterprise. |
PSPS |
Mar-15-08 09:49 AM |
#6 |
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That too! Good point. |
ThomWV |
Mar-15-08 10:02 AM |
#16 |
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Because passing the debt on to the government only makes the government more insolvent |
El Pinko |
Mar-15-08 09:51 AM |
#7 |
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It isn't just the so-called market experts calling for economic failure... |
Earth_First |
Mar-15-08 09:58 AM |
#10 |
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The failures will happen regardless of the bailouts. |
El Pinko |
Mar-15-08 10:41 AM |
#22 |
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Thank you El Pinko. |
girl gone mad |
Mar-15-08 05:54 PM |
#38 |
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Indeed. They are simply printing more WORTHLESS money which |
greyghost |
Mar-15-08 07:01 PM |
#40 |
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It will create in economic collapse |
gravity |
Mar-15-08 10:01 AM |
#14 |
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It punishes economic inefficency and so the remaining system is stronger |
ThomWV |
Mar-15-08 10:01 AM |
#15 |
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All this shows is that an un-regulated "Free Market" |
Homer12 |
Mar-15-08 10:10 AM |
#17 |
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Part of me wonders if it wouldn't be easier to start from scratch |
BR_Parkway |
Mar-15-08 10:28 AM |
#18 |
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Exactly. I imagine a new country with a different constitution... |
Xenotime |
Mar-15-08 10:34 AM |
#19 |
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Really? I immagine our country where our Constitution actually means something. |
ThomWV |
Mar-15-08 10:37 AM |
#21 |
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Have you read the original.. Its pretty good.. Its just not ever followed. |
glowing |
Mar-15-08 10:56 AM |
#23 |
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Except for the deals with the elites, with the males, and with slave holders --- !!! |
defendandprotect |
Mar-16-08 02:19 AM |
#44 |
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It's really interesting when you read it as an Economic document, |
bicentennial_baby |
Mar-16-08 12:42 PM |
#50 |
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Is that still permitted . . . . . ???? !!!! |
defendandprotect |
Mar-16-08 04:08 PM |
#56 |
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How many middle and lower income people are you willing to sacrifice in the crash? |
mondo joe |
Mar-15-08 11:00 AM |
#24 |
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You're assuming they haven't been sacrificed already? Their once |
BR_Parkway |
Mar-16-08 08:44 AM |
#47 |
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Are you seriously asking what's left to sacrifice? Everyone who's still hanging on - |
mondo joe |
Mar-16-08 03:03 PM |
#51 |
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No, my original question was would it be easier to start over with |
BR_Parkway |
Mar-18-08 06:01 AM |
#57 |
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Are you fucking kidding?! Do you really think the powers that be will let the people |
TheGoldenRule |
Mar-15-08 02:31 PM |
#27 |
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Sorry if it wasn't clear - I was talking about the financial system crashing |
BR_Parkway |
Mar-16-08 08:49 AM |
#48 |
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only if you're under 30 |
pitohui |
Mar-15-08 05:41 PM |
#34 |
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Because the Market MUST Correct Itself |
Crisco |
Mar-15-08 10:35 AM |
#20 |
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Thanks to FDR the money in your bank account is insured (up to $100,000) should the bank fail. |
MilesColtrane |
Mar-15-08 11:58 AM |
#25 |
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I've a question about that insurance by gvt. Where does gvt get that money from? |
uppityperson |
Mar-15-08 12:42 PM |
#26 |
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Banks pay premiums to the FDIC for the mandatory insurance. |
MilesColtrane |
Mar-15-08 03:25 PM |
#28 |
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So if the customers pay the premiums, the government is essentially bailing itself out |
Uncle Joe |
Mar-15-08 03:39 PM |
#29 |
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That's what happened during the savings & loan crisis, because the FSLIC itself... |
MilesColtrane |
Mar-15-08 05:34 PM |
#32 |
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So the gvt saves the money paid by the banks taken from the customers to give back to the customers |
uppityperson |
Mar-15-08 05:00 PM |
#31 |
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Well, the choices aren't pretty. |
MilesColtrane |
Mar-15-08 05:43 PM |
#35 |
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Yes but wasn't that Hoover's solution and also check out post #20 on this thread. |
Uncle Joe |
Mar-15-08 05:56 PM |
#39 |
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$100,000 Deposit Insurance Was Great in the 1930's |
Generic Brad |
Mar-15-08 08:44 PM |
#41 |
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The insurance is actually for all of your acounts, up to $100,000 per bank. |
MilesColtrane |
Mar-16-08 12:39 PM |
#49 |
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Well...that's a bit of a problem right THERE . . . the accounts were supposed to be |
defendandprotect |
Mar-16-08 02:23 AM |
#45 |
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Here's one rationale. |
igil |
Mar-15-08 04:53 PM |
#30 |
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Taking a wild guess: Moral Hazard |
Mike03 |
Mar-15-08 05:39 PM |
#33 |
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Unfortunately that seems to be the Fed's policy. |
MilesColtrane |
Mar-15-08 05:48 PM |
#37 |
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These bailouts are not for the benefit of normal people.. |
girl gone mad |
Mar-15-08 05:45 PM |
#36 |
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What's "the right prescription" for an oxycodone addict? |
jberryhill |
Mar-16-08 01:05 AM |
#42 |
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The Fed has to be STOPPED from printing money --- |
defendandprotect |
Mar-16-08 02:25 AM |
#46 |
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There is a great difference between covering deposits and bailing out banks. |
greyhound1966 |
Mar-16-08 03:24 PM |
#52 |
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Contemplate "Bush as Nero" and you'll get a better idea. |
Peake |
Mar-16-08 03:49 PM |
#53 |
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In economics it is know as the problem of "moral hazard" |
AngryAmish |
Mar-16-08 03:59 PM |
#54 |
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Keep in mind that businesses will fail as well as foreclosures, bank failures and unemployment rise |
Blackhatjack |
Mar-16-08 04:06 PM |
#55 |
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I think letting them fail would cause a run on all banks. THAT would hurt |
napi21 |
Mar-18-08 06:12 AM |
#58 |
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it is surreal how this seems to be unfolding on a time table |
natrat |
Mar-18-08 07:38 AM |
#59 |
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they really are killing the whole system off |
natrat |
Mar-18-08 07:47 AM |
#62 |
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how America could ever have let repukes run things |
leftofthedial |
Mar-18-08 07:40 AM |
#60 |
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We're Never Going to Legislate These Corporations Away |
Crisco |
Mar-18-08 07:46 AM |
#61 |
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There has to be consequences for breaking underwriting rules |
RGBolen |
Mar-18-08 07:50 AM |
#63 |
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Because we might run out of wheelbarrows otherwise? |
newportdadde |
Mar-18-08 08:00 AM |
#64 |
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