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Thursday, September 25, 2008
Obama-go-round
6 comments:
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Anonymous said...
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Let me make sure I understand this.
The people who ran and/or participated in the subprime mortgage business stole, squandered or mismanaged trillions of dollars. As a result, these same people are about to go bankrupt. There are fears this will set off a global economic crisis of Biblical proportions.
The politicians in Washington have decided to give these same people who stole, squandered or mismanaged trillions of dollars almost a trillion dollars in taxpayer money so they won't go broke. (Yeah, I know they say it's only $700,000,000.00. You know it's gonna' end up being a lot more than that.)
Can anyone explain to me why it's a good idea to give thieves and spendthrifts a trillion dollars of our money? -
9/25/08, 9:20 AM
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pdwalker said...
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There is no good reason. None, none at all. Anyone who supports this action should have their neck wrung.
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9/25/08, 10:27 AM
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Anonymous said...
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It's $700,000,000,000.00. I left out three zeros.
In my own defense, it's hard to keep track when the numbers get that big. When we give them a trillion dollars, do you think they will account for every billion?
I have my doubts. -
9/25/08, 10:32 AM
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Anonymous said...
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Chuck, two points: 1) You're missing some zeros. 2) They couch it as buying the bad debt, which may be worth more in the future. I wonder who first had THAT flash of imagination.
It's been a week now. Cooler heads are surfacing. It will be interesting to see what happens. There aren't very many people in this country interested in writing that check.
Casca -
9/25/08, 10:36 AM
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Anonymous said...
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It started with Carter and "The Community re-investment act." In order to make home loans to people in low income areas. Clinton put teeth into the law requiring the banks loan money to people who weren't qualified. After first refusing even under those circumstances, the banks acquiesced when the Democrats made Fannie & Freddie buy all the bad paper. Clinton used Fannie as his administrations's personal retirement plan with Franklin Raines, Jim Johnson, and Jamie Gorelick as political appointees who used it as a political football giving campaign money to Chris Dodd, Barack Obama, and John Kerry (in that order) They proceeded to cook the books to hide the problem and recieve hundreds of millions of dollars in bonuses. (Gorelick got $26,000,000.00 in 5 years) Gorelick, Gorelick, where do I know that name from? Oh, the Associate Attorney General in the Clinton administration who personally wrote "The Wall" memo of Separation between the CIA & FBI, practically assuring 9/11, and who, by some political maneuvering managed to get on the 911 commission instead of the witness chair to cover Clinton's ass on 9/11.
President Push called for Fannie & Freddie reform 17 times since 2001. No one was listening. They wanted to make sure deadbeats could get interest only loans with payments low enough to afford the Escalade in the driveway.
We don't have a deregulation problem, we have a political problem.
Stick -
9/25/08, 11:46 AM
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Anonymous said...
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Stick.... "You hit the nail on the head" "You hammered it home" "You it it out of the park" How come there is not ONE Dem. or Rep. willing to speak the truth on this buy out crap. Are the 9-11 rubble laying at Bill Clinton's feet.
Spanky -
9/25/08, 1:18 PM
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