HANK IS BAILING OUT HIS ALUMNI AT OUR EXPENSE. THE VERY INDIVUDUALS WHO CREATED THIS MESS WILL WALK WITH BILLIONS IN SALARY, BONUS' AND GOLDEN PARACHUTES WHILE THE TAXPAYERS FOR MANY GENERATIONS TO COME SUFFER FINANCIALLY. FUCK YOU HANK. YOU ARE THE BIGGEST DICKHEAD TO EVER ENJOY THE PRIVELEGE OF BEING A CITIZEN OF THE UNITED SATES OF AMERICA. BENEDICT ARNOLD WAS A MORE HONORABLE CITIZEN THAN YOU. YOUR METHODOLOGY IS NOTHING SHORT OF TREASON JUST THE SAME AS THE BUSH TRADE POLICIES. MAY GOD STRIKE YOUR SOUL DEAD IMMEDIATELY. YOU DESERVE NOTHING SHORT THEREOF.
What's the alternative, don't bail them out and let the whole economy go to hell in a handbasket? The individuals who created the mess will still have walked away, they were long gone with their haul of cash well before the shit hit the fan. I'm not an economist and I don't live in the US but his way seems to be the best of two evils from what I've seen and read.
You're right, however a bailout will only KEEP the current flawed, financial system. A bailout should come with strings attached. Do you for example bail out your kid without demanding something back?
The National Association of Home Builders cut off all political funding (around $20m, 65% to Republicans and the rest to Dems) in February after a tax refund clause failed to make it into an economic stimulus package passed back in January. Just yesterday, the US Senate agreed to a bill that lets the same homebuilders to "carry back" recent losses to earlier years of profit!! Now, the Congeressional Budget Office (CBO) figures that the taxpayer will end up paying the homebuilders approximately $6b, a very large percentage of which will end up in the coffers of the very same homebuilders that are partially responsible (along with end American greed!) for the mess that we are in right now. Some scoundrels ("All politicians are scoundrels", GB Shaw)up in Washington tout this as a measure to avoid distressed prices and prevent layoffs. Bull Shit! The last credit card bill that I paid late was when I was back in school (1993-94). I, as a taxpayer am being penalized for paying my cards on time, paying up my mortgages on time and in general, for being circumspect about my fiscal responsibilities. I am being forced to pay to rescue companies and individuals that did not have a sense of fiscal responsibility and just pandered to their own whims and greed. This country is going to the dogs -- as long as idiot politicians who are in the back pockets of corporate america are around and as long as special interest groups are around, this country will never learn what it means to be fiscally responsible. After all, fiscal responsibility has to start from a grass roots level and that means you, I and the rest of the people that inhabit this country. This malaise thrives up every orifice - we are a huge debtor nation. Let the homebuilders and mindless people that accumulated debt fail. That's the only way true capitalism will work because that is being responsible for the actions we take. I've never been able to trade T-bond futures profitably. I would be a lot richer if I could just get my losses on those things paid back to my by the US government. Now, why would you not want to pay for that one? I detest/hate/resent/loathe what is happening. We are all thieves as we are stealing from future generations by not letting the people that need to take pain, take it. Very soon you will read that the National Association of Homebuilders has re-instated its political contributions, or even doubled it. Here we call them "lobby groups" but we point to other countries and call it "bribery". PS: FYI, the best performing group amongst stocks has been the homebuilders. The best performing company this year amongst the SP500 has been Pulte Homes.
I don't know about the strike him dead part BUT .... Tar and feather the moron and walk him through the public square. Americans have been sold out, take your country back.
As if he created the mess and as if he has so many options. Story of Fonie and Fraudi (as they call it in Forbes) should make it clear who is to blame. Anyway these threads became as interesting as former inflation threads.
you really think that just because he's from Goldman Sachs, and his first word to the taxpayer is "ONE TRILLION, OR ELSE", which will preserve robber barron bonuses for forseeable trainwrecks they created, that he's not looking out for the average citizen? the pricks who created this mess DICTATE trade and immigration policy, and this bailout preserves their unballanced influence people,speaking of their so-called 'wisdom' have said the empiror has no clothes' for years, but got put down - read below, written over 2000 years ago - there's nothing new about this situation Sirach 13: 3 The rich man does wrong and boasts of it, the poor man is wronged and begs forgiveness. 4 As long as the rich man can use you he will enslave you, but when you are exhausted, he will abandon you. 5 As long as you have anything he will speak fair words to you, and with smiles he will win your confidence; 6 When he needs something from you he will cajole you, then without regret he will impoverish you. 7 While it serves his purpose he will beguile you, then twice or three times he will terrify you; When later he sees you he will pass you by, and shake his head over you. 18 Lion's prey are the wild asses of the desert; so too the poor are feeding grounds for the rich. 19 A proud man abhors lowliness; so does the rich man abhor the poor. 20 When a rich man stumbles he is supported by a friend; when a poor man trips he is pushed down by a friend. 21 Many are the supporters for a rich man when he speaks; though what he says is odious, it wins approval. When a poor man speaks they make sport of him; he speaks wisely and no attention is paid him. 22 A rich man speaks and all are silent, his wisdom they extol to the clouds. A poor man speaks and they say: "Who is that?" If he slips they cast him down. what incentive did they have to moderate theri risks, when they had paulson at the treasury, and can just stick their hand in the till?