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Is possibly the dumbest idea I've ever ing heard. You are essentialy asking for the US government to pay off all of the debt without any hopes of a return on the money they've spent.
So ing Re ed.
Do you have any idea why the european banks are in this mess?
Is possibly the dumbest idea I've ever ing heard. You are essentialy asking for the US government to pay off all of the debt without any hopes of a return on the money they've spent.
So ing Re ed.
Misery loves company? Well its obvious you lack persepctive and don't care what happens since your life sucks. Not everyone else is in the same boat.
Yeah and never seeing any of the money back. Even if the US only gets 10 cents on the dollar backthen its far better then this idiocy.
Got to love the Democraptic leadership.
Pelosi, Reid, Obama, and co. shoved TARP down our friggin' throats in the fall under the guise that we had to do something then and there or else!
Many on the right said passing TARP without conditions was stupid, but the Dems were having nothing of it.
They got the POS legislation passed, and now here we are 5 months later and all of a sudden Obama's 'outraged' at how companies like AIG spent the bailout funds.
Classic democrats....
O rly????
WHY IS THIS FORUM FILLED WITH ING MORONS?
LOL OMG AHF are you ting me? Obama and Pelosi were the ones pushing TARP? Are you ing ting me?
What planet do you live on, jesus christ, wipe the hannity from your mouth, shave, put on some nice clothes, and wake up to reality already. McCain lost, get ing over it, you have been at an all time high baggery level ever since the election and your bitterness over the democrat's victory still oozes out of every post you make...plus you've resorted to outright lies in your posts now. That's not the AHF that used to post here.
Pathetic.
I guess the tax man doesn't take half your pay check and give it Europeans.
You're the moron here, acting like tens of billions of our dollars saving the world economy is something we should not be pissed about. I guess you've just been pussified to such a level that you'd rather accept getting ed in the ass while giving two thumbs up than take a stand and say, "This is wrong, no matter the cir stance."
Last edited by z0sa; 03-16-2009 at 09:29 PM.
He's not doing that to you either. I guess when your argument has no legs this is the type of argument you fall back on.
I think its more than safe to say $30 billion is mine, yours, and a few others contributions as well.
I give up. I don't see how anyone could be pissed about bonuses to Americans when this is going on, oh well. Which, if you remember, was my original point.
Last edited by z0sa; 03-16-2009 at 09:37 PM.
We haven't "blindly given away billions and billions of dollars to AIG with no strings attached".
We went in with full knowledge and awareness of what would happen should AIG fail, and have pretty much full ownership of the place.
We should be pissed about having to pump up these assholes, and we are, but the bonuses were the last straw. Quite frankly, I think a lot of those executives are lucky that lynch mobs are mostly a thing of the past.
Yup. Anybody who thinks this is somehow specifically a bailout of foreign companies or is really outraged at that simply has no concept of how interlinked the world's economy.
If you are outraged that the world's economy is interlinked, then quit buying all of that Chinese , and build your own ing factories.
And astonishingly enough, I see it is your dumb ass that is surprised about this.you don't mind at least 30 billion of the people's dollars went to overseas banks? This isn't about who bought what, this is huge amoutns of mine and your dollars being used to help banks in Europe.
LOL, I can't believe you really think 163 million tax payer dollars in bonuses to Americans matters compared to 30 billion tax payer dollars to Europeans. We shouldnt have given AIG any bailout money, or much less, not just overlook the much more vast number of dollars that would be leaving the country.
Tell me, oh great intellect, do US banks hold the bonds of European firms?
I'll leave you to mull that one over for a while.
You, my friend, are ing annoying. I need go no further than the article to prove I have do ented support.
http://thesource.typepad.com/thesour...-overseas.htmlThe revelation seemed sure to cause political complications for President Barack Obama and his economic team, already on the defensive Sunday
If the president will surely be on the defensive more+political complications, seems my astonishment is shared with some.
Not only this, the use of the word "revelation" clearly denotes this was unexpected.
Dingle , I wasn't asking for support about whether financial ins utions were intertwined. They are.
And if you want to further be an idiot, and think that the administration didn't/doesn't know that some of the bailout money will go to foreign firms you go ahead. They know, but for political reasons don't want to emphasize it, and you would do the same if your ass was hired to do that job.
Why don't you ask how much European bailout money has gone to US firms and be outraged about that?
(shakes head)
Do your research, boy.
No, no it wouldn't.
The problem with this statement is multifold.
Here is a rather complicated analysis that shows exactly the impact of the storm you so flippantly suggest was the better option.
http://www.scribd.com/doc/13112282/Aig-Systemic-090309
Let's step you through the basics, and I will set aside my irritation with your rank ignorance on the subject for a moment.
Let's say you are a bank. Banks are measured by their ending bottom line "surplus" of built-up equity.
You have assets of 100 dollars, liabilities of 90 dollars and 100-90 equals 10 bucks.
You are solvent.
Now let's say the value of your assets goes down by 11%. 100-11=89
89 dollars of assets, minus 90 dollars of liabilities, leaves you -$1. You are insolvent, and it sucks to be you.
BUT
Your bonds are assets on the books of another bank with identical assets and liabilities. You default on your debts, and THAT banks assets decline by 11%, making IT insolvent.
Oops.
A third bank holding bonds/stock from the first two suddenly loses 40% of the value of its assets.
Etc
Etc
Etc.
All the goverment had to do was to prop up the first bank with $11 in capital and it could have saved itself $100's of dollars of expenses and lost revenues, while it forced the original bank to wind down the bad assets.
Of course not. You're only goal:
To insult me, despite the fact the article clearly implies being surprised is a natural reaction to the news.And astonishingly enough, I see it is your dumb ass that is surprised about this.
Look bro, you have no clue what I'm thinking. You completely misread my intentions and bring your hateful agenda against me, despite the fact I have not even revealed much of my opinion on the matter.And if you want to further be an idiot, and think that the administration didn't/doesn't know that some of the bailout money will go to foreign firms you go ahead.
no , is this the political insight you possess that I do not?They know, but for political reasons don't want to emphasize it,
Last I checked, their ass is hired to protect the interests of the American people, not deliberately hide or cast shadow upon potential connotations of their actions (which they did, if you noticed in my original post - again, why would Obama be worried about bonuses to americans when american dollars, meant to bailout americans, are bailing out Europeans - and there will be political complications).and you would do the same if your ass was hired to do that job.
(shakes head)
Do your research, boy.
Somewhere along the line, the nationality of those banks changes. That is the way global capital systems work.
Normally having all that capital available to back profitable businesses is a very good thing.
But the problem comes when all those banks are intertwined. When one falls, it starts a rather nasty cascade.
The suck thing is that if AIG really didn't get any government money, it would have to have a fire sale on assets to raise cash, flooding the bond market with bonds for sale, and driving down asset prices for EVERYBODY, in addition to ing over the ins utions that held/hold its debt/stock.
Any asshat who says "let them fail, 'cause some of that money might go to them foreigners" deserves to be slapped, and forced to take a few finance classes.
Rage at AIG Swells As Bonuses Go Out
Fed Decided Payouts Couldn't Be Stopped
By Brady Dennis and David Cho
Washington Post Staff Writers
Tuesday, March 17, 2009; A01
A tidal wave of public outrage over bonus payments swamped American International Group yesterday. Hired guards stood watch outside the suburban Connecticut offices of AIG Financial Products, the division whose exotic derivatives brought the insurance giant to the brink of collapse last year. Inside, death threats and angry letters flooded e-mail inboxes. Irate callers lit up the phone lines. Senior managers submitted their resignations. Some employees didn't show up at all.
"It's a mob effect," one senior executive said. "It's putting people's lives in danger."
Politicians and the public spent yesterday demanding that AIG rescind payouts that they said rewarded recklessness and greed at a company being bailed out with $170 billion in taxpayer funds. But company officials contend that the uproar is scaring away the very employees who understand AIG Financial Products' complex trades and who are trying to dismantle the division before it further endangers the world's economy.
"It's going to blow up," said a senior Financial Products manager, who spoke on condition of anonymity because he was not authorized to speak for the company. "I have a horrible, horrible, horrible feeling that this is going to end badly."
http://www.washingtonpost.com/wp-dyn...602961_pf.html
========
Madame LaFarge is knitting furiously!!
Meh, I'm cranky tonight, and I generally don't like your dumbassery. Deal.Of course not. You're only goal:
To insult me, despite the fact the article clearly implies being surprised is a natural reaction to the news.
Look bro, you have no clue what I'm thinking. You completely misread my intentions and bring your hateful agenda against me, despite the fact I have not even revealed much of my opinion on the matter.
no , is this the political insight you possess that I do not?
Last I checked, their ass is hired to protect the interests of the American people, not deliberately hide or cast shadow upon potential connotations of their actions (which they did, if you noticed in my original post - again, why would Obama be worried about bonuses to americans when american dollars, meant to bailout americans, are bailing out Europeans - and there will be political complications).
Obama is not worried about the money going to the big bad Europeans, because he has been briefed and presumedly understands that the financial system is a bit more interdependent than most Americans realize or understand.
The bonuses are just ing stupid.
If you can't differentiate between the two, then again: Do your research.
You shouldn't be so hard on yourself, Manny.
O rly????
WHY IS THIS FORUM FILLED WITH ING MORONS?
Oh wait, you liberals, as usual, want to gloss over the work of the Messiah and his merry band of socialists...
And all you liberal shills who replied with petty insults can go F yourselves, you're showing yourselves to be the partisan hacks that you are.
Pelosi spoke on the House floor in support of the bill, and had this to say:
Yeah, I'm clueless, a mental midget. I forgot, those are Democrats she referenced, and she was taking the credit on behalf of the Bush White House, right?Over the past several days, we have worked with our Republican colleagues to fashion an alternative to the original plan of the Bush administration.
I must recognise the outstanding leadership provided by Barney Frank, whose enormous intellectual and strategic abilities have never before been so urgently needed, or so widely admired.
I also want to recognise Rahm Emanuel, who combined his deep knowledge of financial ins utions with his pragmatic policy experience to resolve key disagreements.
http://abcnews.go.com/Business/Economy/story?id=5904056
Late Sunday afternoon, House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid held a news conference with Senate Banking Committee chairman Chris Dodd to announce that Congress would vote quickly on the legislation.
Earlier the Democratic Chairman of the House Financial Services Committee, Barney Frank, said the House would "definitely" begin debate Monday on the rescue package. A House vote could follow the same day, with the Senate possibly voting by mid-week.
"Inaction would paralyze our economy," Reid said. Dodd, who has been heavily involved in the rescue negotiations, praised Republican leaders, saying that "this was a collaborative effort."
Democrats agreed to the deal after accepting compromises demanded by some conservative Republicans and moderate Democrats.
"This agreement, while not perfect, will help stabilize the economy," Reid, D.-Nev., said in the news conference Sunday.
....
Obama, appearing on CBS's "Face the Nation," was asked whether McCain should receive credit.
"No," he responded, and then tried to take some of the credit himself.
"For two weeks, I was on the phone every day with Secretary Paulson and the congressional leaders, making sure that the principles that have ultimately been adopted were incorporated into the bill."
http://www.telegraph.co.uk/finance/f...-out-plan.html
http://www.nytimes.com/2008/09/22/bu...rssnyt&emc=rssSenator Barack Obama...
"I will be talking to leaders and members of Congress later today to offer this idea and urge them to act without delay to pass a rescue plan," Mr Obama said in an e-mailed statement to reporters.
http://www.telegraph.co.uk/news/worl...d-attempt.htmlDemocratic lawmakers said Sunday that they shared the sense of urgency, though they called for “reciprocity” to ensure that not only Wall Street investors but also Main Street taxpayers would get relief. And they said they wanted to press ahead, probably in a parallel initiative, with a new economic stimulus package.
Senator Charles E. Schumer, New York Democrat, said legislators would not imperil the proposal by adding too many extras. “We will not Christmas-tree this bill,” he said Sunday on Fox. “The times are too urgent.”
...
“We don’t have any choice but to act,” Senator Christopher J. Dodd, a Connecticut Democrat who is the Banking Committee chairman, said on ABC. “But you’ve got to deal with that problem of foreclosures or this problem persists.”
...
Representative Nancy Pelosi of California, the House speaker, made clear earlier that she would push for a stimulus initiative, likely as part of the budget resolution Congress must adopt before adjourning. Such a plan could include an increase in unemployment benefits and spending on infrastructure projects to create jobs.
Awww, Obama called Rep. mings and made him feel better."We were dealt a bad hand and we made the most of it," said Nancy Pelosi, the Democratic House Speaker. "We were faced with a situation with terrible implications for Main Street."
...
Elijah mings, from Maryland, said he was voting Yes based on conversations with Mr Obama. "I've got a man who I'm hoping will be president who's saying that's he's going to do the very things that I want done," he said. "It makes me feel a lot better."
Yep, Pelosi, Obama, and co. weren't pushing TARP1.0 at all...
Just sayin'...
Generally? So we have some chance of getting along eventually, Deal it is.
Economics is fascinating. That said, we've gotten to a pretty ty point when you can accept mine and your tax dollars are helping europeans get back on their feet, and not .. well, me and you.Obama is not worried about the money going to the big bad Europeans, because he has been briefed and presumedly understands that the financial system is a bit more interdependent than most Americans realize or understand.
Agreed, but with all the money we gave them, what does it really matter?The bonuses are just ing stupid.
Just sayin'...
Seriously for half a second: You are a hack. GTFO, because the only thing you ever accomplish with your posts is to prove how biased and unfair you are. Honestly, you are the kind of idiot who hurts conservatism and the Republican party the most.
The juiciest part of that is that you either don't want to admit that to yourself, or just can't wrap your mind around how unproductive your posts are to your cause.
You are just like the islamic terrorists who indescriminately bomb places to wage a jihad. Sure, you kill people you hate, but in the end you end up turning a lot more against you.
Sure, you score some cheap points here and there, but in the end you turn a lot of people against you.
FAIL.
Dammit, it is a lot easier to be cranky with you when you are being cranky right back.
Here I go off on a tear, and you go being halfway decent. Dammit. How can I be cranky now?
Oops, wife wants to watch "Bones". Time to do that.
New smiley face!! Neato.
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