:eek: Soooo... like I said:
What happens when a country goes bankrupt??
Grand auction of Federal Game reserves? National Forests? Interstate Highways? States? Hoover Dam?. Next Item up for bid... A bridge to nowhere... any takers on the Statue of Liberty?

I think we all are aware of what is going on here. Our country is already in shambles, and getting further into debt in order to get out of debt.. :confused:.. Any bank would laugh you or I right out of their office in the same situation.:rolleyes:

The "solution" our Gov. is promoting is only prolonging the inevitable In my opinion.
What are we to do as citizens?:eek:

They said that AIG was too big to go down. If AIG is too big ;the Federal Government certainly is also (sarcasm alert). As you see ;2% of the countries mortgages has completely rocked our financial system... mortgages by the way that the government forced the financial institutions to make. So now we the people are solely owned guarantor of the financial system . What happens when business loans start going south ? Already the auto makers are marching on capitol hill with their hands out . Where does it end ? The concern is real.

Main Street bailing out Wall Street ? What nonsense! Where is the grand jury and special prosecutor investigation this ? Regulations were in place;regulatory agencies ,and legislative oversight committee watch dogs were all guarding the hen house. They were all getting greased and lining their pockets. The problem here is that there is no one being held accountable. When Enron went down the names of the executives were plastered all over the place and there was aggressive pursuit of them. I don't see that happening now. Why not ?

I say let the shaky institutions go down. There is always someone there to take their place if their services are needed. That is how capitalism is supposed to work.

“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. "

The U.S. Government is not "going" bankrupt. It already IS bankrupt, except for one thing: Its implied taxing power (in deference to Joe Biden let's call them "patriotic taxes"). The government can expand our debt obligation so long as there are willing buyers.The amount of U.S. government debt outstanding, relative to the size of the US economy, is less than it is in many other countries that have nanny-state systems.But it is growing rapidly and we have candidates willingly talking about greatly expanding our long term liabilities.
The canary in the coal mine will be increases in the rate of inflation.

Merely tax the people a lot more, most other nations tax their peoples income at a lot higher rates than we do

Merely tax the people alot more, most other nations tax thier peoples income at alot higher rates than we do


Yeah... I see how that would work.
Aren't they blaming the bad debt of the american people for these bailouts?
I'd say take more of their hard-earned money away from them... 12313
That ought to fix things!!
I think speculators and beurocrats lining their pockets is the BIG problem.
I am like tomder... where are the prosecutors??

Of course things like the large mortgage companies, why should be bailing them out ? They made choices to make loans to people that should not have gotten the money to buy a bicycle but they gave them 100 or 110 percent loans. I don't see the problem with them going out of business and their owners losing their money.

Agree with you that they should take a fall. Look at Lehman's ;already Barclay is going to buy the solid parts of their business.

But you can't place the blame completely on the banks. THEY WERE FORCED TO TAKE ON RISKY LOANS BY CONGRESS!

See the excellent explanation of this by ET Wolverine
https://www.askmehelpdesk.com/current-events/mortgage-crisis-fannie-mae-freddie-mac-260752.html

That was a very educational thread Tomder.. Thank you!
I guess the time has come now for congress to put another bandaid upon this wound to our economy.

In my opinion, you can't really fault the banks, or the leaders in entirety for this whole situation.

What about the fools that signed up for a variable interest loan??
I am far from a rich man, and had always inspired to buy a home. I recall in my mid-twenties seeking a loan, and the best I could do was over ten percent on a 15 year note, and an astronomical rate on a 30 year note. The scary part was that these rates weren't fixed. They were "variable." I also recall the loan officer telling me that for now, the rates are "high" but they are due to come down in time. I had far from flawless credit, as the majority of youth in our country at the time. I had already made some mistakes, and bought into some high interest loan with a penalty for early payoff. This was a note on a pickup, and I could barely make the payments. Well, the pickup was fine until I needed a car, as it was a tight squeeze getting my wife and a carseat into my pint-sized pickup.
Trying to trade off the pickup infuriated me, and I just quit making the payments... depositing them into a savings account, and let them come find me.
Big mistake... I did gather enough money in that time frame to pay cash for a car, and for years this is what I did... pay cash every couple of years for someone else's worn out crap, and paid off the upside down left overs of my pickup loan.
After a while of scraping by in this fashion, my wife and I foundourselves in much better circumstances financially, and went on a venture to purchase a home.
All we ould get were variable rate loans, and the introductory rate was already too high.
I knew better than to overreach my budget on something as important as a home.
I saved and saved, and purchased a couple of vehicles, and got a few credit cards... used them wisely, and built my credit.
I now have a home... at 7 percent fixed on a 15 year note.

So the people at fault in my opinion are all parties participating at the origination of the note. The loan officer that told the "dreamers" that they could fudge a little where it says "income"... and the folks that said... O.K... and then signed a note for a variable rate... when the rate at the time of origination was already too high.

Then, things get pretty deep. Can you fault the upriver investors for looking at the documentation which was falsified at the origination of the note... did they even look that far into it?

If this were to hit the courts, it'd take decades to sort out.
Who is at fault??
From that thread you linked me to Tom, it ain't the current administration... heck this crap started in the thirties, then snowballed. Someone should have stopped it long ago!!

Looks like our country is in some deep doodoo... and we are going to drag the rest of the world down with us... Isolated folks like North Koreans will be in better shape than anyone!! (O.k... maybe that is a stretch) I think I need a stiff drink. I just hope the band aid congresswill be working on Today is strong enough for me to hold down my homestead until I can get it paid off! What about my kids... well there's room for them now, I guess there'll be room when they need it.

It looks like the invisible conspirators in Taylor Caldwells "Captains and the Kings" are finally getting what they have been after.

:confused:Someone smarter than me check my math
$700,000,000,000 divided by 303,824,640 (July 2008 est.population USA) =$2303.96correct?

I know my family of four could rest at ease with an additional $8,000(adjusted for reality, and ease of cutting checks and to save ourselves(Weee the people) an entire $92,350,537,574.40) :D
If WE are going to have to pay it back anyhow, why not dish it out to "Main Street" to float us past the Wall Street crisis??
or, tell me my math is wrong, and I don't know what 700 billion looks like, or that there are more than 303,824,640 folks in our nation, or that simply dropping 303.96 from each individuals check wouldn't add up to over 92 billion dollars:confused:

Geeez working with numbers that large is simply stifling to this feeble mind used to working with small numbers such as +/-.0005

You forgot the fact that Congress passed and Bush signed a $300 billion "main street" bail out in August.
H.R.3221 became Public Law No: 110-289

It is due to go into effect next month. Add to that the stimulus package in the spring and weare already taking major $$ for Main Street.

This brings the total "bailout" to over $Trillion.

And what do you suppose might have caused this..

This may answer your questions (http://www.youtube.com/watch?v=H5tZc8oH--o)

That is an awsome video!! Thanks so much . That is going to be a fixture on my signature section for a long time to come!!

Out of all those smart rich government **** they couldn't see this might happen and stop this crap then. I am not the smartest person out here, but I think a lot of people out there are piss off because of this. And now were going to help all these people that shouldn't of got in these loans (and porbably knew they couldn't afford them) and the companies that OK them?

These guys had it figured out!!! (http://www.brasschecktv.com/page/187.html)
12516

A lot of countries that tax a lot more have free healthcare, that is the main reason their taxes are so high. Why not take the 700 Billion and put it into our health care Right now they are throwing it out the window, might as well put it to good use.