Who is being bailed out? Those whose jobs were shipped overseas? Those whose health benefits have been eliminated? The same people to whose common benefit taxes are collected at great expense? No! No! Nada! Stop day dreaming!
Then Who is being bailed out? you ask. The firms that ship jobs overseas. The firms who seek to cut benefits to maximize profits. The same firms who employ every method to avoid tax.
Can you believe it?
If the companies make insane profits there are even those who think they should not even be taxed.
These are the companies that forsake the public in every way possible cutting health benefits, shipping jobs overseas. Why should I --having suffered all these-- bail out those who inflicted the pain?
And who are we bailing out? The shareholders got nothing. The employees have been shafted.
We are bailing out the trading partners who traded these toxic instruments.
Spin doctors keep drumming that there are small players who will not get credit and the small business would grind to a halt?
If that is the real intent why not setup 700 billion as a trust that can lend these small players?
Why do I need a middle man who collects a fee for doling out my money back to me --given to them by the government--. It is naked and awful scheme. Let the global system of big banks fail! It will not affect me or most of the people. Those whose profits will go down will find another way to defraud the working class anyway. Hopeless.
Why finance sector alone which is probably where greed and arrogance begins?
Why not bail auto industry?
Free to hoard profits free to unload loss to the public. Privatize profits socialize losses.
Diabolic.
Why cannot the govt hire the fastow guy from prison and ask him to setup off balance sheet SPE to repair the troubled firms. The companies can then cure their own ills over time.
The govt does argue these assets will recover -- do not want to extend a loan or recover the profits. If the govt seriously wants to help the small guy, they can double the tax-deductible
401K, they can allow me to deduct upto 10K in college tution fees or even make it tax credit.
Because kids educated on my dime are going to pay tax when employed.
Govt can even be green -- replace the current fossil fuel engines with 80 USD booster from a kid in Indiana/Ohio --.
So seriously the "system" wants to protect the rich and filthy cats from their own lewd greedy behavior by shafting the common. Another grand scheme to defraud the public. Redistribute the wealth from the poor to the filthy rich. Every 10 years it happens like magic.
Savings and Loans Association -1984
Portfolio Insurance -- 1987 Crash
LTCM 1995
DOT COM Bubble -- 2001
2006-07 Oil Bubble
2008 Mortgage Credit Crisis
Join the RICH. Steal from the working class and the poor! Nothing more.
Friday, September 26, 2008
Saturday, September 13, 2008
Action not lament!
Americans have pursued many endeavors in the interest of world at large.
Participation in WWII, expedition to the moon etc. And numerous wars and aid programs.
Our charter is not to debate the right and wrong of any of these. Instead we want to
find a solution to this problem. Leave a better world for our children.
There is no room for politics here. Concise and actionable ideas -- at an individual level -- are welcome. Any individual who shares our concern should be able to act
on the ideas, find ways to implement the ideas -- with the objective of reducing our national debt.
Participation in WWII, expedition to the moon etc. And numerous wars and aid programs.
Our charter is not to debate the right and wrong of any of these. Instead we want to
find a solution to this problem. Leave a better world for our children.
There is no room for politics here. Concise and actionable ideas -- at an individual level -- are welcome. Any individual who shares our concern should be able to act
on the ideas, find ways to implement the ideas -- with the objective of reducing our national debt.
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