Printable View
There's a reporter in Cincinati that does a news segment called "Reality Check". His name is Ben Swann, WXIX is his station. Like him on Facebook and check out the piece he did on Paul Ryan. To quote Ryan in a speech he gave during one of the bailouts he voted for, "This bill offends my principles but i'm going to vote for this bill in order to preserve my principles".
The bailout was the correct thing to do. What was wrong was the errosion of checks and balances in the banking system that allowed folks to get hurt and the lack of rules that allowed these banks to be insolvent and put all americans at risk. I would have thought he was an idiot if he had not of supported the bailout. He was not perserving principles he was covering a>s.
Bailing out the banks, GM and Chrysler demonstartes just how corrupt our politicians have become!
If we had a true Free Market Economy and real Capitalism, this sort of crap would never happen. The banks were greedy, made bad choices and tax payers had to reward them by bailing them out. When one invest in banks stocks or any stock/mutual fund, thay are taking a risk. The tax payer should not have to provide a saftey net.
With the auto industry, had they been allowed to run thier natural course, the private sector would have picked up the pieces and the tax payer wouldn't be out of 35 BILLION plus. Lets call it what it was and that was a bailout of the UAW. Instead, they were rewarded for poor management and shoddy workmanship at the expense of the tax payer!
P S
Paul Ryan voted to raise the Debt Ceiling seven times and voted for the bailouts! Is he a reformed sinner? Or, is it that the American voter just wants more of the same?
Franco....if everything had run its course we would be fighting for a spot in a soup line...that simple. There was a massive credit crunch and the only funding available was government. TARP for the most part has been repaid as has the auto bailout, so government got something right. Maybe had the Germans not drawn as hard a line, Europe would be on better footing.
Now just because government did the right thing during the crisis, does not mean that what they did to get us in the crisis is excusable
I'm not sure what the American voters want... But I know for sure what they don't want. Ron Paul. All 50 states said no thanks...
But you keep spouting the same crappola... Give it up till 2016... then you can roll him out again... of course by then you probably will have to literally roll him out... but that will be another story...
We would not have been in soup lines, that was the scare tactic the politicians used to bailout their money doners. The bank executives wouldn't have walked with their golden parachutes and the tax payer wouldn't have been taken advantage of.Quote:
Originally Posted by sambo
We are far from being repaid on the auto bailouts and I don't consider holding over-valued GM stock as a pay back. Last I checked, we were still owed a couple of TRILLION from the foreign banks we bailed out.
Germany is doing the right thing. Southern Europeans are lazy and are hooked on entitlements and the Germans know it.
Don't argue economics with me....had the banks not been bailed out, every major bank in the world would have failed along with everyone's checking account. Honoring the FDIC insurance would have looked like a mountain compared to what they loaned the banks. God sake....you got this wrong, and I don't care to see this again to prove I'm right. This was not politics. It was a major f>>k up but not politics. It was the politics of the past that put us in the position, but this was not someone playing for political gain.
Paul's economic position is why I don't like him. Thank God others that don't know as much about economics as I do see it too.
Bravo Sierra!!!!!Quote:
Originally Posted by sambo
A legend in your own mind...Quote:
Originally Posted by sambo
Sambo, I would say that they have you fooled. Just like the Debt Ceiling scare tactics they use to raise the Debt Ceiling.Quote:
Originally Posted by sambo
In case you missed it, most of the smaller community banks were solvent during the bailouts. It was the big banks run by greed that caused the problems. Those with good credit could walk into any community bank and get a loan during that time. I know, because I did!