PDA

View Full Version : BANKS OR WORKERS...YOUR CALL

cajunsnake
11-12-2008, 10:44 PM
WASHINGTON – Urgently shifting course, the Bush administration is abandoning the centerpiece of its massive $700 billion economic rescue plan and exploring new ways to shore up not only banks but credit-card, auto-loan and other huge nonbank businesses. Democrats are pressing hard to include a multibillion-dollar bailout for faltering automakers, too — over administration objections. Unimpressed by any of the talk on Wednesday, Wall Street dove ever lower.

http://news.yahoo.com/s/ap/20081113/ap_on_bi_ge/financial_meltdown

I'm not crazy about this bail out to begin with. Welfare is Welfare whether it goes to Joe the Plumber or A.I.G. But if I have to choose which should get it, I'd rather it be the workers since they are the ones who, in the end, are the ones paying for the bail out anyway.

Just wonder what other thoughts there are about it.



SNAKE
Moby
11-13-2008, 08:32 AM
Having strong banks with no customers will not fix the economy. Customers need to be buying products and services and then the banks can earn that money.
Mick063
11-13-2008, 08:52 AM
Having strong banks with no customers will not fix the economy. Customers need to be buying products and services and then the banks can earn that money.


Great Answer
disrupter
11-14-2008, 02:42 PM
The problem is/was the retail credit market freeze.

The 700 Billion did exactly ZERO to address that.

It was wasted welfare for banks being spent on a drunken party binge for
Executive bonuses,
Salary raises,
Shareholder dividends,
Shopping for other banks to buy,
as well as a Tax Shelter for banks buying other banks.

it is like firing buckshot backwards over your shoulder expecting that somehow it is going to hit the bird in front of you.

It is like the US government is completely brain dead.
Nudibranches thrashing around mindlessly.

UNBELIEVABLE.

I am more shocked than i am angry.
and they did it with such a huge sum of money it will increase our long-term deficit by 10%.

Honestly, i am losing all faith in the US government. It is a bunch of hysterical, gullible fools. Chickens with their heads already cut off.
And they did it in response to a known fool & liar, namely Bush.

Maybe they are all getting bribed by banks receiving this welfare, that is the only way it makes any sense, even if it is corrupt, destructive, sense.

It is more & more likely this nation is going to go bankrupt.