I am seeing the people really waking up now. These movements start small and grow throughout the county. The backlash to this administration is possibly gaining momentum and the truth that capitalism is our answer maybe becoming popular again.
About a month ago AIG prevailed against my broker and my company in selling a third party liability cover because it was artificially bolstered by the bailout money and said to be “too big to fail”. AIG used its federal money to cut its pricing below what anyone thought was prudent. I’ve competed against AIG for 30 years now so this event is especially distasteful. It seems like AIG employees are tryng to justify their existence to keep their jobs for awhile. I understand this part of it all.
well, here’s the problem. we think that it takes big business to keep the country going. we need even the small ones. when you look at the small companies, they fail and more try to restart. how many of the intermediate companies filed for bankruptcy to restart and how many have collapsed? yet, when it comes to a big company why are we allowing them to stood up by the fed’s money? why can’t they fail? so what if it does! yes, many would lose their jobs, but how many small ones have done that? how many have lost their jobs there? again, we think to look at the biggies but forget about some of these mom-pop companies. they have struggled and some have failed. it should not be any different for the bigger company.
LET THEM FAIL! stop wasting our taxpayer dollars. afterall, how big a defecit do we need?
Why is it THIS administration’s fault? If I recall, there was this dude named Bush telling Congress that they needed to pass TARP right before his butt got kicked back to Torture, TX. After all, it’s all those nice Republican bankers and Wall Streeters who are reaping the benefits.
Hey Bush is part to blame too but the Liberals are running everthing now. Obama wants to nationalize the banking industry. You wait and see, he will try. He does not want the banks that took TARP money to pay us back, he want to own them. Once he nationalizes the banking industry the game is over.
No it’s not over…Next comes Autos, Medical Care and Energy. Future opportunity for your kids, get a government job with a union. Than we will find out how expensive free is.
“…too well-connected in Washington, for the good of the country.” How true. But we continue to vote these ignorant politicians into office, concerned only with lining their own pockets at the expense of hard working Americans. I would even bet that that criminal Dodd will be re-elected. He is the worst of the worst. The quintessential politician.
Wow, somebody actually seems to get it in Washington. This is a true moment.
The American free market, combined with responsible regulation from our elected officials, has been and still can be the greatest system ever!
But, in order for that system to stand a chance of working, everyone whether big, small, govenment, religious institutions all should be allowed the opportunity to succeed mightily in the free market, but also have to be allowed to fail mightily when that’s so deserved.
Setting up a so called Too-Big-To-Fail institution(s) invites servitude and eventual demise of the system and the country. I hope this is a sign of an about-face because we need it!
It is funny how liberals think we need so much protection that we cant let anything or anybody fail. Americans are tough and proud, we fail but get back up as long as we are not saddled with debt from our government that we cant pay off. We will recover in spite of our president and congress’s efforts to socialize our capitalist economy. Its all about power and the people will not give them enough power to take over our country.
Oh those dastardly Democrats!!! Look at the ruination they’ve brought in their 12 weeks of power! And other than the collapse of the world’s economy, the two wars, the crumbling infrastructure, and other such details, everything was just great until THEY took over!
Stop hyperventilating. Drivers on a busy road have an ecomonic self-interest in not crashing into each other. Take all the stop signs and traffic lights down, though, and chaos predictably ensues. Put them back up and the crashes are significantly reduced. Street signs don’t dictate your destination; they just give you rules of the road. Traffic lights aren’t socialism and neither is regulation.
If any of you ever get a job in the insurance industry, you’ll see a business run by capitalists and regulated by insurance departments. Perfect? Of course not, but we all go to work everyday without bringing the world to its knees.
ok, it was not the democrats that did this… do you know what party that those folks at AIG are? do you know what party that the Auto Industry are? afterall, it took more than 100 days, it took years. so if you really want to blame anyone, blame those that were in office in congress prior to Obama. you are so easily to blame folks that are in current office, even though they did not cause the problem. again, accepting responsibility. so try again!!
To Ratemaker: Well, he certainly has horse sense – and, it’s very refreshing. I’m sorry for giving too much credit to Washing, but the article definitely said the quote was attributable to a top Federal Reserve official. However, it was my error to attribute that to anyone in Washington. I should have known better. There is zero horse sense that comes out of that group, any more.
To Sam: I hope you are right about the people not giving them enough power to take over our country. I have to believe that is true. However, I do worry as we get closer and closer to the tipping point of having more than 50% of the voting population in a position of entitlement, where they are receivers rather than producers, that the battle becomes seriously uphill after that. This was a warning from our founding fathers, and it is so true today.
To Amazed: There is NO doubt that any system of civilization requires some rules of the road. From the days of Adam & Eve, there were some rules set in place, and it will never be any different. Sometimes Republicans do get confused and believe that ANY deregulation attempts (see the Phil Gramm article from yesterday) are automatic benefits. They are NOT. However, the Democrats are equally incorrect, and possibly more dangerious, in their overall belief that there has never been a bad regulation authored. Or, that anything can be solved by more government control. Both beliefs are dangerous. I’m not so sure they are equally dangerous, though.
To Wud: Get a grip. It’s not all the Republicans fault. Did I mention – get a grip?
I’m afraid that he is right. We have to allow the debtor corporations go down. We don’t even know what the tab will be yet. The use of distributed taxpayer funds is not being adequately controlled. Everytime we guarantee a large corporation, our government is incurring vast additional debt that generations of Americans will be paying in taxes. And many foreign corporations are beneficiaries some of whom may well be terrorist supporters. The government has been afraid to release all of the names of the large counterparties. If I didn’t know better, I’d swear that Osama bin Laden was behing all of this nonsense. Who would agree to guarantee substandard loans? Oh, I’m supposed to use the nice term, sub-prime loans. What was that about lipstick on a pig?
Ok, I agree that large or small, failure should be allowed. I do NOT believe that ANY company should be considered too large to fail.
Otherwise, we are back to the Animal Farm, where all animals were equal, but some were more equal than others.
Now, as far as this new administration coming into power THIS YEAR (as you put it), that is true. However, the Dems have controlled the real power in the Congress completely for over 2 years, and mostly for the past 50 years. So, minus a few blips on the radar screen in the past half-decade, most of the success and/or problems can be attributed to the Dems.
So what?
It’s time to move on and fix some things, remove government from some things, and finally, we need to somehow get back to a realization that there should be no such thing as a career politician.
Most importantly, we need to come to the realization that nobody can take care of us as well as WE can take care of us. It’s called personal responsibility.
Learn it, use it, expand it.
That alone will help curb Congress’ insatiable desire to continue to spend our kids and grandkids money on things that were never envisioned as the responsiblity of government by our founders. Bailing out mulit-national corporations with our tax dollars would be high on that list.
In the midst of a dry spell, a conservative Republican stared at his now withered garden bemoaning its impending demise. His liberal Democratic next-door neighbor asked why he was so sad. “My garden’s dying and it’s breaking my heart,” he said. “Have you watered it?” asked the liberal. “No,” replied the conservative. “I don’t believe in watering. It’s always a bad thing.” Shaking his head in amusement, the liberal took his own hose and watered the garden that and several subsequent days. Since the garden needed water, it came back to life. Weeks later the dry spell ended and the rains came. One day as the liberal was standing in the pouring rain watering the garden, the conservative came out and asked him why he still watered the garden despite the rainy weather. “I don’t think I should stop,” the liberal said, “I have a lot of faith in this hose.”
If you think that government is always the problem or think that it is always the solution, you are guaranteed to be dead wrong about half of the time. All it takes is a little common sense, folks.
here’s the problem you have peon agent. for one, i never blamed any particular party on this event. if you look, obama just recently took office THIS YEAR! the problems have been extended prior to him taking the office of president. again, i am not blaming any party. congress as a whole, needs to be blamed. but congress needs to be aware that smaller companies fail as well. what is wrong with a big one? i think the grip needs to be a realization, that any company can fail. so what if there is a lot of folks working for that company. if many little companies fail, is that not the same as saying one company failing?
again, why do you think they have bankruptcy laws?! it allows companies to fail and possibly regroup and still pay some of their debt.
What a cute little gardening story, but instead of “liberal Democrat” and “conservative Republican” it should have read “idiot” and “idiot”. A more accurate analogy for liberal and conservative would have gone something like this: a conservative was sadly looking over his garden, knowing he only had enough water to keep half of it healthy, and was deciding which half would be of most benefit. A liberal came along and decided to water all of it, thinking we’ll just print more water. But eventually he couldn’t print any more water, because all sources of water had dried up. And instead of half the garden being healthy the whole thing died. The end.
Wow – finally one of these guys shows some backbone. If none of these banks fails the “stess tests”, how can we trust the Fed of Treasury again?
I am seeing the people really waking up now. These movements start small and grow throughout the county. The backlash to this administration is possibly gaining momentum and the truth that capitalism is our answer maybe becoming popular again.
About a month ago AIG prevailed against my broker and my company in selling a third party liability cover because it was artificially bolstered by the bailout money and said to be “too big to fail”. AIG used its federal money to cut its pricing below what anyone thought was prudent. I’ve competed against AIG for 30 years now so this event is especially distasteful. It seems like AIG employees are tryng to justify their existence to keep their jobs for awhile. I understand this part of it all.
well, here’s the problem. we think that it takes big business to keep the country going. we need even the small ones. when you look at the small companies, they fail and more try to restart. how many of the intermediate companies filed for bankruptcy to restart and how many have collapsed? yet, when it comes to a big company why are we allowing them to stood up by the fed’s money? why can’t they fail? so what if it does! yes, many would lose their jobs, but how many small ones have done that? how many have lost their jobs there? again, we think to look at the biggies but forget about some of these mom-pop companies. they have struggled and some have failed. it should not be any different for the bigger company.
LET THEM FAIL! stop wasting our taxpayer dollars. afterall, how big a defecit do we need?
The backlash has just begun against this administrtion and capitalism will once again be the leader. The Tea Parties are just the begining.
Why is it THIS administration’s fault? If I recall, there was this dude named Bush telling Congress that they needed to pass TARP right before his butt got kicked back to Torture, TX. After all, it’s all those nice Republican bankers and Wall Streeters who are reaping the benefits.
Hey Bush is part to blame too but the Liberals are running everthing now. Obama wants to nationalize the banking industry. You wait and see, he will try. He does not want the banks that took TARP money to pay us back, he want to own them. Once he nationalizes the banking industry the game is over.
No it’s not over…Next comes Autos, Medical Care and Energy. Future opportunity for your kids, get a government job with a union. Than we will find out how expensive free is.
Sounds like someone is listening to the people finally.
STOP SPENDING OUR MONEY!
Finally, someone with a spine!
“…too well-connected in Washington, for the good of the country.” How true. But we continue to vote these ignorant politicians into office, concerned only with lining their own pockets at the expense of hard working Americans. I would even bet that that criminal Dodd will be re-elected. He is the worst of the worst. The quintessential politician.
Wow, somebody actually seems to get it in Washington. This is a true moment.
The American free market, combined with responsible regulation from our elected officials, has been and still can be the greatest system ever!
But, in order for that system to stand a chance of working, everyone whether big, small, govenment, religious institutions all should be allowed the opportunity to succeed mightily in the free market, but also have to be allowed to fail mightily when that’s so deserved.
Setting up a so called Too-Big-To-Fail institution(s) invites servitude and eventual demise of the system and the country. I hope this is a sign of an about-face because we need it!
It is funny how liberals think we need so much protection that we cant let anything or anybody fail. Americans are tough and proud, we fail but get back up as long as we are not saddled with debt from our government that we cant pay off. We will recover in spite of our president and congress’s efforts to socialize our capitalist economy. Its all about power and the people will not give them enough power to take over our country.
Sorry to ruin your moment, Peon.
Nobody in Washington gets it. Mr. Hoenig is speaking good old-fashioned Midwestern horse sense from Kansas City, MO.
Oh those dastardly Democrats!!! Look at the ruination they’ve brought in their 12 weeks of power! And other than the collapse of the world’s economy, the two wars, the crumbling infrastructure, and other such details, everything was just great until THEY took over!
Stop hyperventilating. Drivers on a busy road have an ecomonic self-interest in not crashing into each other. Take all the stop signs and traffic lights down, though, and chaos predictably ensues. Put them back up and the crashes are significantly reduced. Street signs don’t dictate your destination; they just give you rules of the road. Traffic lights aren’t socialism and neither is regulation.
If any of you ever get a job in the insurance industry, you’ll see a business run by capitalists and regulated by insurance departments. Perfect? Of course not, but we all go to work everyday without bringing the world to its knees.
ok, it was not the democrats that did this… do you know what party that those folks at AIG are? do you know what party that the Auto Industry are? afterall, it took more than 100 days, it took years. so if you really want to blame anyone, blame those that were in office in congress prior to Obama. you are so easily to blame folks that are in current office, even though they did not cause the problem. again, accepting responsibility. so try again!!
To Ratemaker: Well, he certainly has horse sense – and, it’s very refreshing. I’m sorry for giving too much credit to Washing, but the article definitely said the quote was attributable to a top Federal Reserve official. However, it was my error to attribute that to anyone in Washington. I should have known better. There is zero horse sense that comes out of that group, any more.
To Sam: I hope you are right about the people not giving them enough power to take over our country. I have to believe that is true. However, I do worry as we get closer and closer to the tipping point of having more than 50% of the voting population in a position of entitlement, where they are receivers rather than producers, that the battle becomes seriously uphill after that. This was a warning from our founding fathers, and it is so true today.
To Amazed: There is NO doubt that any system of civilization requires some rules of the road. From the days of Adam & Eve, there were some rules set in place, and it will never be any different. Sometimes Republicans do get confused and believe that ANY deregulation attempts (see the Phil Gramm article from yesterday) are automatic benefits. They are NOT. However, the Democrats are equally incorrect, and possibly more dangerious, in their overall belief that there has never been a bad regulation authored. Or, that anything can be solved by more government control. Both beliefs are dangerous. I’m not so sure they are equally dangerous, though.
To Wud: Get a grip. It’s not all the Republicans fault. Did I mention – get a grip?
Have a good one,
I’m afraid that he is right. We have to allow the debtor corporations go down. We don’t even know what the tab will be yet. The use of distributed taxpayer funds is not being adequately controlled. Everytime we guarantee a large corporation, our government is incurring vast additional debt that generations of Americans will be paying in taxes. And many foreign corporations are beneficiaries some of whom may well be terrorist supporters. The government has been afraid to release all of the names of the large counterparties. If I didn’t know better, I’d swear that Osama bin Laden was behing all of this nonsense. Who would agree to guarantee substandard loans? Oh, I’m supposed to use the nice term, sub-prime loans. What was that about lipstick on a pig?
Wud,
Ok, I agree that large or small, failure should be allowed. I do NOT believe that ANY company should be considered too large to fail.
Otherwise, we are back to the Animal Farm, where all animals were equal, but some were more equal than others.
Now, as far as this new administration coming into power THIS YEAR (as you put it), that is true. However, the Dems have controlled the real power in the Congress completely for over 2 years, and mostly for the past 50 years. So, minus a few blips on the radar screen in the past half-decade, most of the success and/or problems can be attributed to the Dems.
So what?
It’s time to move on and fix some things, remove government from some things, and finally, we need to somehow get back to a realization that there should be no such thing as a career politician.
Most importantly, we need to come to the realization that nobody can take care of us as well as WE can take care of us. It’s called personal responsibility.
Learn it, use it, expand it.
That alone will help curb Congress’ insatiable desire to continue to spend our kids and grandkids money on things that were never envisioned as the responsiblity of government by our founders. Bailing out mulit-national corporations with our tax dollars would be high on that list.
In the midst of a dry spell, a conservative Republican stared at his now withered garden bemoaning its impending demise. His liberal Democratic next-door neighbor asked why he was so sad. “My garden’s dying and it’s breaking my heart,” he said. “Have you watered it?” asked the liberal. “No,” replied the conservative. “I don’t believe in watering. It’s always a bad thing.” Shaking his head in amusement, the liberal took his own hose and watered the garden that and several subsequent days. Since the garden needed water, it came back to life. Weeks later the dry spell ended and the rains came. One day as the liberal was standing in the pouring rain watering the garden, the conservative came out and asked him why he still watered the garden despite the rainy weather. “I don’t think I should stop,” the liberal said, “I have a lot of faith in this hose.”
If you think that government is always the problem or think that it is always the solution, you are guaranteed to be dead wrong about half of the time. All it takes is a little common sense, folks.
Problem is we are getting hosed by the liberals now.
TAXED ENOUGH ALREADY!
here’s the problem you have peon agent. for one, i never blamed any particular party on this event. if you look, obama just recently took office THIS YEAR! the problems have been extended prior to him taking the office of president. again, i am not blaming any party. congress as a whole, needs to be blamed. but congress needs to be aware that smaller companies fail as well. what is wrong with a big one? i think the grip needs to be a realization, that any company can fail. so what if there is a lot of folks working for that company. if many little companies fail, is that not the same as saying one company failing?
again, why do you think they have bankruptcy laws?! it allows companies to fail and possibly regroup and still pay some of their debt.
What a cute little gardening story, but instead of “liberal Democrat” and “conservative Republican” it should have read “idiot” and “idiot”. A more accurate analogy for liberal and conservative would have gone something like this: a conservative was sadly looking over his garden, knowing he only had enough water to keep half of it healthy, and was deciding which half would be of most benefit. A liberal came along and decided to water all of it, thinking we’ll just print more water. But eventually he couldn’t print any more water, because all sources of water had dried up. And instead of half the garden being healthy the whole thing died. The end.
JB,
Well, some of these last comments were good, but I thought I should just let this post die.
However, this one was too good to pass up. It made me smile.
As you say – the end.
Thanks,