Obama Plans to Raise $120 Billion From Banking Fees

[spursncowboys]

Short of brain death, there's no rational limit to how much stupider people can get.

The idea that there are political solutions to be sought outside the GOP/Dem duopoly isn't stupid at all, but politics isn't an intellectual salon.

NOT@balli, necessarily:

A movement possessing any considerable political mass is likely to be composed of very heterogeneous elements, and pouting because reality or the political parties do not flatter our own intelligence so much as gross popular tastes would seem not only wussified, but perversely unrealistic.

OTOH, saying NO to the perverted stability of the satanic totality upholds the dignity of an insulted world that barely even exists, except as the complaint that the actual world has insulted it again.

The NO is a utopian dynamo. It is so powerful that -- just for example -- big government, borrow and spend conservatives can still run for Congress as "anti-Washington" candidates.

SnC? I noticed that too.

I haven't read a post from any conservative on this forum who wanted the TBTF co. to be bailed out. These same ones also don't believe that these companies should be penalized for being profitable. I heard on the radio today BHO will spend more in three months than he did the entire last year.

[Winehole23]

. These same ones also don't believe that these companies should be penalized for being profitable.

Some of these same companies were facing insolvency and default in fall 2008, absent the bailout. Why should we let the bailees off the hook, when we're already massively out of pocket on their account? That they are profitable now may partly reflect the epochal socialization of private financial risk, wouldn't you say?

Until there's transparency re: the provenance and magnitude of the financial dreck posted for the $2T of cash loans at the various Fed pawnshops, we won't really know for sure, will we?

[Nbadan]

Banks are gonna charge the fees anyway...time to socialize the profits...

[Marcus Bryant]

Some of these same companies were facing insolvency and default in fall 2008, absent the bailout. Why should we let the bailees off the hook, when we're already massively out of pocket on their account? That they are profitable now may partly reflect the epochal socialization of private financial risk, wouldn't you say?

Until there's transparency re: the magnitude of the financial dreck posted for the $2T of cash loans at the various Fed pawnshops, we won't really know for sure, will we?

Right. People will find the end of civilization in the notion that someone poor (or perhaps not truly poor, but lazy) gets a handout from the taxes of everyone else, but when the taxes paid by modest families and the value of the currency which they have saved is looted to cover bad bets by the wealthy, well, that's just good ol' fashioned rugged American individualism.

And any attempt to recoup that is Bolshevism.

[Marcus Bryant]

Or, we're supposed to ignore the first act of socialism instead of the following act.

As a nation of alleged individualists, one would think quite a few of us would have a problem providing welfare to billionaires.

The media and the schools serve their masters well.

[Winehole23]

As a nation of alleged individualists, one would think quite a few of us would have a problem providing welfare to billionaires.

There are quite a few, I think.

There are also quite a few who single out those singling out welfare for the mega- well-to-do, as declasse' resenters and haters of business. It's an effective tactic, appealing broadly to ignorance and inchoate prejudice, while soliciting identification with the upper class. The success of the successful becomes a fetish for strivers, and gets worshipped for its own sake.

[EVAY]

Republicans on the Board appear to want to criticize Obama for supporting the bailout that was proposed bu a Republican Administration and supported by the Republican candidate running against Obama, and then also criticize the attempt to recoup some of the money.

The only thing the criticism accomplishes is to shine light on the non-reasoning positions taken that, if the party to which they don't belong says it, then it must be wrong. It is very like the position that many of them take regarding that disgusting Rush Limbaugh, i.e., no matter how revolting and awful and insulting his comments, they will defend him...most recently it is regarding Haiti. It is ALWAYS about some hatred or other that he is spewing.

[spursncowboys]

Some of these same companies were facing insolvency and default in fall 2008, absent the bailout. Why should we let the bailees off the hook, when we're already massively out of pocket on their account? That they are profitable now may partly reflect the epochal socialization of private financial risk, wouldn't you say?

Until there's transparency re: the provenance and magnitude of the financial dreck posted for the $2T of cash loans at the various Fed pawnshops, we won't really know for sure, will we?

We shouldn't have let them off the hook. However if we have the Fed for it's intended job-be last effort loans to banks to create liquidity-then we should do that. I would be ok with no Fed, or less powerful. But that is what it was there for.
We should have a universal definition of what a tax is, and what should be it's effects.

[Winehole23]

We shouldn't have let them off the hook.

First you were against it.

However if we have the Fed for it's intended job-be last effort loans to banks to create liquidity-then we should do that.

Then, for it.

I would be ok with no Fed, or less powerful. But that is what it was there for.

This appears to be resignation. For it, again.


Nice to know where you come out on this.

[Winehole23]

So basically, SnC is a pro-business toady who who takes it for granted that the government should bail out megabanks, broker-dealers and AIG, and that they should never have to pay us all back for the favor.

If we insist on being repaid, we resent the rich and are inciting class war.

[Winehole23]

What does bailout mean to you, SnC?

[Winehole23]

Did somebody get bailed out, or not?

[spursncowboys]

When did I ever say I was for a bail out? In any of my posts?