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No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-05-13 10:19 AM
Original message
Question I heard in my sleep.
Someone on TV said it, but I have no idea who or on which channel because I was really asleep when I heard it.

We bailed out banks with almost a trillion dollars because they were too big to fail. (That is a LOT of billions.)

Why is Detroit not too big to fail?
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Enthusiast Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-05-13 03:59 PM
Response to Original message
1. I believe you heard that on the Ed Show.
Edited on Mon Aug-05-13 04:01 PM by Enthusiast
I think they made an excellent point.

As you know the bailout of the banks was bad for several reasons. They recklessly destroyed the economy through fraudulent action yet there were no negative repercussions. And there were no conditions placed on the bailout.

Someone on the same program was saying that we recently awarded some foreign territory more than we ever provided for the city of Detroit. I think that is just plain flawed thinking on its face. No foreign nation should receive tax payer funds while an American city is in need. Those are some misplaced priorities right there.

The establishment, right wing narrative that the workers are greedy for expecting such lucrative pensions is ridiculous. The pensions only amount to $19,000 per year.

It's just like the social security deal. They greedily spent the money so now they don't want to repay it. It all comes down to a reasonable tax rate for the upper income earners (I use the term earners lightly). A nation cannot wage two unnecessary wars of choice while enacting a massive tax cut yet expect things to work out well.

My guess is when they pulled all this shit they had no intention of paying back the social security trust fund. TPTB assumed Bush's post 911 popularity was so great that he could lead the nation into a privatization scheme for social security.

My bet is they came up with this wonderful plan in one of those 'think tanks'.
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Enthusiast Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-05-13 04:26 PM
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2. Why is Detroit not too big to fail?
There are black people in Detroit. They deserve their fate no matter how dire it may be. At least according to the right wing assholes that have captured the nation.
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No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Aug-06-13 03:11 AM
Response to Reply #2
3. I don't know that the result would be different if Detroit were white.
Edited on Tue Aug-06-13 03:18 AM by No Elephants
Regardless of what the situation may have been until circa 1970s, I think the heavy hitters--at least those involved in elective politics-- use race to gin up their respective bases, but all they themselves focus on is wealth and power.

They leave all the other shiny things, like race, choice and gay rights to the hoi polloi, to keep them/us ginned up and divided. Meanwhile, they buy $2000 waste baskets for their offices and create private towns for themselves, while the majority are wondering how long food banks can possibly stay open---and that's before any cuts to OASDI.
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