Originally Posted By Mr X Well the idiotic McCain campaign completely blew their own week old platform out of the water by claiming that bailouts are bad, BUT, this one was necessary (Palin apparently doesn't know poo from Putin in this matter, but that's another thread). So, they lied. AND, they supported (surprised?) Bush on this latest attempt at stopping the dikes with a single thumb. How'd it work out? Well, Monday saw a giganic worldwide rally with exchanges screaming skyward, a little like Gonzo fiddles while George Burns if you ask me, since Fraudie and Phoney both saw their share prices essentially wiped out. So, what did Tuesday bring? The overall markets gave up pretty much ALL their gains, Dow shedding 280 point in what has become nearly a weekly event of bloodshed...but more scary is this: Lehman Brothers DOWN 44% (remember this is all in ONE DAY folks) Poplar bank DOWN 11% Downey S&L DOWN 14.42% First Federal DOWN 10% Merrill Lynch DOWN 10% MGIC Mortgage DOWN 16% Corus Banshares DOWN 9.8% And the list goes on and on... Keep in mind, most of these are now penny stocks ANYWAY..it's amazing they have any more room to crash before hitting absolute zero anyway (ALL of them). So, how'd that bailout work? Good idea? I don't think so. In fact, I think the McCain folks had it right in the first place. AND, if they'd had the guts to stand by their convictions instead of kowtowing to Bush AS USUAL, they'd pretty much look like geniuses today. Didn't take long. Too bad they're gutless liars.
Originally Posted By planodisney gutless liars? Ridiculous rhetoric like this wouldn't be any reason for the insane divide in this country would it? Nah, let's just blame Bush!!
Originally Posted By Mr X Call it like I see it, Plano. Read my "Republicans Disgust Me" thread, and tell me if you think that blogger is wrong. Please be honest (I think it's very telling, not to mention foolish since they could've looked like geniuses SIMPLY by standing by what they claimed at the convention...but they were too gutless to do it).
Originally Posted By DlandDug So, what does YOUR genius do while "George Burns?" >>Obama, briefing reporters in Dayton, Ohio, agreed that the federal rescue was required to help millions of struggling mortgage holders and shore up the US housing market. But he added that he had written to Treasury Secretary Henry Paulson to say he was "troubled by the news reports that the outgoing CEOs of Fannie and Freddie may be in line to receive multi-million dollar severance packages as part of the Treasury plan."<< <a href="http://afp.google.com/article/ALeqM5h8u-VqFBZze_cXciLNBx6Oaea4KQ" target="_blank">http://afp.google.com/article/...6Oaea4KQ</a> So Obama also says the bailout is OK. But with a little class warfare tossed in for the faithful. (The dogs bark, but the caravan passes on.)
Originally Posted By Mr X ***So Obama also says the bailout is OK.*** Yes. So it's a good thing that the GOP is now behaving like a bunch of "big government" liberals, while paying lip service to the contrary in their platform? ***But with a little class warfare tossed in for the faithful.*** Actually, I agree with him. Why IS 20 million dollars in taxpayer money being allocated to pay off two failed executives? What did they do to deserve such a handsome reward? I don't see that as "class", I see it as injustice. They are just two more in a long line that belong in prison for their fraud and yet nobody seems to be on this, all while being enriched (now at taxpayer expense). You think that's okay, do you? Or you think it's just Obama trying to stir up the great unwashed? You pay taxes too don't you? So do I (annoyingly, leaving the country doesn't seem to work...though for the life of me I can't tell you what services I'm receiving from my continued tax obligations, or why my country is the only one in the world who does it).
Originally Posted By fkurucz <<The overall markets gave up pretty much ALL their gains, Dow shedding 280 point in what has become nearly a weekly event of bloodshed...but more scary is this: ...>> Oh yes. So many banks are on the verge of failure that its not funny. Some believe that at first we will experience deflation, but once the endless bailouts kick in (while the Fed dumps bale loads of money into the banking system) that things will swing into the opposite direction: hyperinflation. I would suggest buying gold and silver coins as a hedge, but good luck finding any for sale. We certainly live in "interesting times".
Originally Posted By mawnck >>(The dogs bark, but the caravan passes on.)<< You're a good man, Dug, no matter what anyone says (including me).
Originally Posted By Mr X ***So, what does YOUR genius do while "George Burns?"*** Since I didn't answer this earlier, I'll say this. IF I were the GOP candidate for president (in some alternate universe somewhere), I would HOPE that I would stand by my recently minted platform and say that these bailouts are no good, a big mistake, AND yet another in the series of big mistakes this administration is famous for and that I seek to rectify when I'm elected. Because it IS the right way to go. They were CORRECT in their assessment one short week ago. But that would take guts, I'll admit, and I'm not certain I'd be able to do it. Lots of ways to come out looking foolish with a bold stance, better to quietly submit to the status quo and then blame them when things get worse. On the other hand, McCain is supposed to be famous for his "maverick" ways, bucking the establishment and all that no? Shouldn't be so hard for him, right? Heck, he endorsed the platform just last week...how can he not stand by it (conformist liar, that's how)? Too bad..I just might have had to seriously reconsider who to vote for if he'd had the guts to stand by his supposed convictions.
Originally Posted By Dabob2 <But with a little class warfare tossed in for the faithful.> Pointing out the insanity of these execs getting 8-figure "parachutes" after ruining their companies now constitutes "class warfare?" Noted.
Originally Posted By Mr X One of them was only a mere 7 figures, Dabob. High 7 figures, but 7 nonetheless. Poor slob will barely be able to scrape by once his option-arm kicks in!
Originally Posted By Mr X ***Pointing out the insanity of these execs getting 8-figure "parachutes" after ruining their companies now constitutes "class warfare?"*** Even beyond just ruining their companies, they (obviously) jeopardized the whole united states financial system. And we taxpayers have to give them 20 million dollars? For what? Yeah, that's all about class warfare.
Originally Posted By mawnck Class warfare ended years ago. We surrendered when we elected Reagan. This is a mere insurgency. Probably a futile one.
Originally Posted By Dabob2 It's just always amazed me that conservatives can support policies that reward wealth rather than work, and make life harder for the average Joe (or Jo), and that's somehow NOT "class warfare." But when liberals so much as point out the real-world effects, immediately they scream "class warfare!"
Originally Posted By fkurucz <<Poor slob will barely be able to scrape by once his option-arm kicks in!>> I'm sure that he can sell his yacht, house in Aspen, private jet, etc., to make ends meet.
Originally Posted By fkurucz <<It's just always amazed me that conservatives can support policies that reward wealth rather than work, and make life harder for the average Joe (or Jo), and that's somehow NOT "class warfare." But when liberals so much as point out the real-world effects, immediately they scream "class warfare!">> I read a book recently title "Deer Hunting with Jesus" which illustrates why so many working class people vote against their economic interests (they vote Republican).
Originally Posted By fkurucz <<Even beyond just ruining their companies, they (obviously) jeopardized the whole united states financial system. And we taxpayers have to give them 20 million dollars? For what??? C'mon X, we all know that these are "special" people and are the ones that do all the real heavy lifting (and heavy dropping too apparently). They "deserve" their ample rewards. Funny thing is that I attend a kickoff meeting here at working regarding jump starting "innovation". We faceless, nameless worker bees were reminded that real innovation and leadership starts with us and percolates up. Funny how those who come up with these great ideas and patents (many of which have earned untold millions in profits for the company) are handsomely rewarded with a decorative plaque commemorating the patent. Oh, and the word in the grapevine is no raises (again) this year. Our CEO told us that the near $10B profit we collectively earned wasn't even close to being good enough and that we are basically ripping off the shareholders. Many would jump ship, but from what we are hearing the competition has the same policies, so there is no point in looking for a new job.
