Hows that bank bailout going

[Cracker]

If those pie charts don't piss people off, no words will.

Why the fuck anyone would want to cut our defense to feed lazy mutherfuckers is completely beyond me. Make us fucking sitting ducks in the world so some piece of shit can play XBox all day. I just don't speak that language.

[Cracker]

How we pay for it all:

[thekid65]

Just rec'd my property tax assessment today. 80k drop in value since '08...40k drop since 09, when we bought the joint. Fucking depressing.

The blame, IMO, lay completely with the financial institutions that our fucked up leader has bailed out.

#1. For giving out crap loans in the first place to those they knew couldnt afford it..thereby creating a huge demand for homes, and artificially raising values.

#2. And now, making it damned near impossible for folks that should get a loan, to actually get one...while going back to the same-ole, same-ole practice of paying out exuberant salaries and bonuses to CEO's.

Nice job, Mr Obama...you've fucking failed big time. Thanks for helping out those that caused this huge problem in the first place...and double thanks for letting them go back to "business as usual".

Edit: And to top it off, my property tax has gone down a whopping $75

[username]

This conversation is just depressing.

I believe the welfare system is rife with fraud, mismanagement and abuse. I think it should be totally re-vamped (and I'm all for putting able-bodied welfare recipients out in the fields to pick strawberries or something). But I don't want to live in a country where little kids are starving/asking for a $1.00 to wash my windshield. The kids deserve help IMO.

[BlueTiki]

Hey! username!

Ask your hubbie: "What was the year Moody's began rating US Treasury Bonds?"

Well that went well.

Me: I don't know, I looked it up and it sounds like it started during WWI.

Him: Gives me "that look" again.

Sorry, username. Didn't mean for that to happen.

Most SEC license holders (yes, I hold a Series 7) have no fucking clue.

US Treasury bonds were NEVER officially rated. They were the benchmark for "zero risk" investments. The gold standard of securities, one might say.

You've heard the phrase "full faith and credit of the US Government". That's it. That's the rating.

And now . . . the same fuckers who were receiving payment and OVER rating investment vehicles (from the bastards who were issuing "junk") are NOW chiming-in on Treasuries!

Cause fear, raise debt ceiling, agenda accomplished!

Hey, like I said . . . this is a question that most SEC license holders don't know.

And golly . . . this is one that I might NOT know either.

However . . . Fidelity shares my opinion, too . . . NOT rated.

[Cracker]

This conversation is just depressing.

I believe the welfare system is rife with fraud, mismanagement and abuse. I think it should be totally re-vamped (and I'm all for putting able-bodied welfare recipients out in the fields to pick strawberries or something). But I don't want to live in a country where little kids are starving/asking for a $1.00 to wash my windshield. The kids deserve help IMO.

Most adults that don't function productively are fucked. We have to admit that to ourselves. As much as I would like everybody to live a meaningful life and do what they are supposed to do, it just isn't going to happen. The more you give to these people in the form of support for their children, the more they waste. They can't handle money or deal with financial responsibility or they would have already been doing it. I would like the welfare system to match contributions up to a certain amount. I know there are jobs that don't pay a lot. I've had a few of those in my lifetime. I chose to work several jobs at a time to make up the difference, but I know many people won't choose that. I don't mind helping those people make up the difference. BUT I wish we only helped people who were helping themselves.

The only way to make a true and meaningful difference in the life of a child is through education (schools, rec centers, programs aimed at improving the lives of children). You don't get to pick your family, but you can pick your future. It won't help every child, we are going to lose some because they can't overcome their raising, but education will help the kids that can be helped.

You can't count on fucked up people to do right. That's WHY they are fucked up: They don't do right. I've spent years trying to figure out why, and my simplistic view was conceived the hard way. Some people won't do right because they are fucking selfish. That is the bottom line. You can't fix self-absorption. You can't throw money at it and expect change. It just won't happen.

Fix what you can. Give the city of Detroit to the people who are fucked up and walk away. haha

[Midwest Spy]

Fix what you can. Give the city of Detroit to the people who are fucked up and walk away. haha

I'm with you on this Cracker. With more and more 'self absorbed' people coming to this country every day, it's just a matter of time until people refer to the U.S. as the cesspool of the world. We will implode.

However, Detroit's bouncing back. Let's come up with a different city/state (place). How 'bout Louisiana and Mississippi?

[username]

Sorry, username. Didn't mean for that to happen.

Most SEC license holders (yes, I hold a Series 7) have no fucking clue.

US Treasury bonds were NEVER officially rated. They were the benchmark for "zero risk" investments. The gold standard of securities, one might say.

No worries. After 16 years, I'm pretty oblivious to "the look". I've got a look of my own.

I get to pass that along on the drive to the wedding today. I think he might just get a little twisted up about not having caught (or known) that.

[BlueTiki]

Speaking of Bank Bailouts . . .

Here's an excerpt from the WSJ re: Auto Industry Bailouts -

"But this doesn't mean that taxpayers are off the hook. They are still likely to end up with a multibillion dollar bill—nearly $14 billion, according to current White House estimates."

"But the $14 billion figure omits the cost of the previously accumulated tax losses GM can apply against future profits, thanks to a special post-bailout government gift. The ordinary rule is that these losses can only be preserved after bankruptcy if the company is restructured—not if it's sold.

By waiving this rule, the government saved GM at least $12 billion to $13 billion in future taxes, a large chunk of which (not all, because taxpayers also own GM stock) came straight out of taxpayers' pockets."

Okay . . . I'm confused. I thought Obama stated corps and the "fortunate" need to pay more. Go figure.

Full article here: http://online.wsj.com/article/SB10001424...lenews_wsj

[Cracker]

The entire list (along with amounts paid back):

http://projects.propublica.org/bailout/list/index

[Cracker]

Why the fuck did credit unions get bailed out? That makes no fucking sense to me. My credit union is member-owned. Aren't they all?

[IMaDick]

I'm not sure about you guys but when I see stuff like this I get the feeling I'm being lied to.

[attachment=11022]

[BlueTiki]

The entire list (along with amounts paid back):

http://projects.propublica.org/bailout/list/index

Thanks, Cracker. I'm sure many, like me, were surprised at the length of the list. And of the recipients, too.

I guess my "shock" was the massive Federal Tax forgiveness. This pisses me off.

Especially when the vocals of the Democratic Party criticize the GOP for "favorable" treatment, regarding corporations and the "fortunate", while ignoring the working class.

Yeah . . who just gave the finger to the working class, now? Fuckers.

If you owe a debt . . . pay it . . . rich or poor, business or individual!

[Cracker]

I do business with several businesses on that list. They didn't forgive shit. At least not to someone like me...

Why were these businesses in trouble in the first place? The lending institutions did what the Dems asked and gave NINJA loans to people who weren't qualified to take on a mortgage and gave unsecured loans to their builder buddies. The car companies suffer because we fucked our trade agreements with foreign car companies and even let them build a lot their "foreign" cars here so they don't have to pay import taxes. I guess the government "owed" both of those industries.

Don't even get me started with Fannie Mae and Freddie Mac. How much of that bailout money went overseas (where Fannie and Freddie borrow most of their money)? I don't even fucking want to know.