The article says it (thanks for that!) – all this money went to the big banks. They were all just in Spain to meet in secret at Bilderberg – I can imagine them all laughing at how much money they swindled from the US taxpayers.
“How do you know about a secret meeting in Spain?”
Because he dares actually consult other news sources besides ABC, CBS, NBC, Fox, CNN, MSNBC, ad nauseam.
As Lenin said the entirety of politics can be summed up by an analysis of “who does what to whom.” I can assure you that 99.99% of those reading the IJ and reading the comments are the “whom.” I don’t think that I need to describe what the “what” is, do I?
Matt – Please keep in mind, this was orchestrated by the politicians, not just the banks. How many members of the current administration and the Clinton administration sat on teh boards of Citi, B of A, Goldman Sachs, etc.? At the same time, what politicians were leaning on banks to make loans to those they KNEW were not credit worthy?
Both parties are to blame for this (though the national social democrats more so). The problem is giving the government too much authority to “regulate” and too much money. Let’s see, which party is it that is constantly working to give the feds mroe power and money? Hmm.
Regardless if the banks were or were not forced to give out loans (which I’m really really sure that they were forced to give out the high risk loans they normally would not give out in the first place), if the people that KNEW they could not afford the loans they were taking out on the houses, because they have the entitlement mentaility “I DESERVE a house even though I can not afford it”, if they DIDN’T take out the loans in the first place, they would not have defaulted on the loans. Now I am not saying that if someone defaults on their loan that they have the entitlement mentaility, things do happen. Get laid off, become very ill and can not work, ect, but I feel those are few and far between.
I have yet to hear anyone bring any evidence, or any logic on why my thinking is incorrect on this.
Nerd, you can’t blame the American people for wanting the American dream. Yeah, they may not have the ability to pay their bills, but that is how our country operates – on credit. It’s bad and we need to change, don’t get me wrong… but why would people stop buying what they ca’t afford when the government openly encourages it.
I think the gov’t is more to blame – and unfortunately for liberals, the Democrats take the slap on the hand for that one.
AIG, with some 100 million policyholders, and the insane CDS was too big to fail. The real crime was that none of the Wall Street egomaniacs paid a price for the bailout. AIG’s Joseph Cassano, the CDS guru, completely “walked”.
Well, I am not following your logic. Blame the government for something that the American people do? Its like you go to prison because your neigbhor robs a bank. The government may enable people to work the system, but that doesn’t mean the people have to go for it. People need to make their own decisions and choices. Blaming the government for this perticular problem I feel is a cop-out and a way to pass the buck and yet is one of the major problems with our socity today. “Its not MY fault, its someone else’s.
I do blame the government. The logic is there because it has happened. If the gov’t didn’t force banks to make sub prime loans then we wouldn’t be in this mess. We need to leave government out of it.
You are speaking of a perfect world where we all make rational decisions (I completely agree with your logic by the way – we should all be more responsible).
I guess it is ultimately our fault since we elect these bozos.
The article says it (thanks for that!) – all this money went to the big banks. They were all just in Spain to meet in secret at Bilderberg – I can imagine them all laughing at how much money they swindled from the US taxpayers.
matt,
How do you know about a secret meeting in Spain?
“How do you know about a secret meeting in Spain?”
Because he dares actually consult other news sources besides ABC, CBS, NBC, Fox, CNN, MSNBC, ad nauseam.
As Lenin said the entirety of politics can be summed up by an analysis of “who does what to whom.” I can assure you that 99.99% of those reading the IJ and reading the comments are the “whom.” I don’t think that I need to describe what the “what” is, do I?
I think Texas Agent was being facetious. After all, how could a meeting everyone knows about be “secret?”
Matt – Please keep in mind, this was orchestrated by the politicians, not just the banks. How many members of the current administration and the Clinton administration sat on teh boards of Citi, B of A, Goldman Sachs, etc.? At the same time, what politicians were leaning on banks to make loans to those they KNEW were not credit worthy?
Both parties are to blame for this (though the national social democrats more so). The problem is giving the government too much authority to “regulate” and too much money. Let’s see, which party is it that is constantly working to give the feds mroe power and money? Hmm.
Regardless if the banks were or were not forced to give out loans (which I’m really really sure that they were forced to give out the high risk loans they normally would not give out in the first place), if the people that KNEW they could not afford the loans they were taking out on the houses, because they have the entitlement mentaility “I DESERVE a house even though I can not afford it”, if they DIDN’T take out the loans in the first place, they would not have defaulted on the loans. Now I am not saying that if someone defaults on their loan that they have the entitlement mentaility, things do happen. Get laid off, become very ill and can not work, ect, but I feel those are few and far between.
I have yet to hear anyone bring any evidence, or any logic on why my thinking is incorrect on this.
Nerd, you can’t blame the American people for wanting the American dream. Yeah, they may not have the ability to pay their bills, but that is how our country operates – on credit. It’s bad and we need to change, don’t get me wrong… but why would people stop buying what they ca’t afford when the government openly encourages it.
I think the gov’t is more to blame – and unfortunately for liberals, the Democrats take the slap on the hand for that one.
AIG, with some 100 million policyholders, and the insane CDS was too big to fail. The real crime was that none of the Wall Street egomaniacs paid a price for the bailout. AIG’s Joseph Cassano, the CDS guru, completely “walked”.
Love your moniker. Lol
Well, I am not following your logic. Blame the government for something that the American people do? Its like you go to prison because your neigbhor robs a bank. The government may enable people to work the system, but that doesn’t mean the people have to go for it. People need to make their own decisions and choices. Blaming the government for this perticular problem I feel is a cop-out and a way to pass the buck and yet is one of the major problems with our socity today. “Its not MY fault, its someone else’s.
So, I’m not buying it.
I do blame the government. The logic is there because it has happened. If the gov’t didn’t force banks to make sub prime loans then we wouldn’t be in this mess. We need to leave government out of it.
You are speaking of a perfect world where we all make rational decisions (I completely agree with your logic by the way – we should all be more responsible).
I guess it is ultimately our fault since we elect these bozos.
Thats something you and I both agree on!
Novemeber can’t get here quick enough.