Paul Ryan

I always like hearing that the bailout was the right thing to do. To me that is because people thought some businesses were too big to fail, In the 80's Chrysler was in the same situation as they were a few years ago and even are today, but they solved it. The Titanic wouldn't sink either.

Businesses fail that is a simple fact.

Sambo you said the only one with funding was the gov, they have no money, they still have no money. The banks like BofA failed due to dumb practices, it is their fault not the taxpayer. If I start a business then run it into the gorund with dumb decisions it is not the Gov who should save me, either I get creative and fix it or my business goes away. Oh then we have the cry me a river about all the employees would be out of jobs, well it happens everyday and most of them do not have a union that has made sure they will get paid for a year even if they don't have ajob. Also there have been better car companies in America but the big 3 have done everything they can to run them out of business. People who are way more innovative than those idiots. Why do you think people prefer foreign cars now, they are more dependable, they have better quality, they have better technology. There have been American car companies that had things in their vehicles 40years before the others and yet they failed. Maybe we should have bailed all of them out as well.

Everyone needs to realize that saving businesses with poor businesses models will result in failing business again. Chevy failed got bailed out, failed on a huge scale with the volt even with Tax rebates out the wazoo, and they will fail again. Do we bail them out again? Do we bail out the banks for loaning out money to people on Unemployment again? While we are at it why don't we bail out pay day loan places I am sure they have taken a hit as well.

Let's just save the trouble have the gov run all the businesses. They seem to be very good at balancing the books and coming up with a budget.

But since this post is about Ryan, i will try to make it about him. Here is my new catch phrase.

"Paul Ryan, no matter what you say, At least he isn't Biden."

Let me spell this out for you. To begin with the debt ceiling and banks have nothing in common....is this some comparison Rush or Beck are using because the two things have absolutly nothing in common.

Ok let Bank of America and JPMorgan/Chase fail. What happens? AT&T, Exxon, Haliburten, Duke Energy, GE, Apple, Bowing, Continental Airlines, etc. have no cash to pay payroll, in fact they have no liquidity at all to pay anything. You go to use your debt card to buy gas and doesn't work. Do you need more examples. I realize this is hard to comprehend but that is what happens when a bank loses their liquidity. It can't honor its liabilities (deposits) because it has no cash.

Now to the redneck banker who keeps pretending he is an expert. What do you think people would have done to your little solvent bank. They would have run as fast as they could to take their money out, creating the inability for your bank to honor the request of it depositors thus causing it to fail.

Now thank god good decisions were made or we would have all been F>>ked.

Bailing out the banks was not a political decision, albeit many have tried to make hay with it. It had to be done, and it is real easy after the fact to say we didn't need the capital, but they did.

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Originally Posted by sambo

Let me spell this out for you. To begin with the debt ceiling and banks have nothing in common....is this some comparison Rush or Beck are using because the two things have absolutly nothing in common.

Ok let Bank of America and JPMorgan/Chase fail. What happens? AT&T, Exxon, Haliburten, Duke Energy, GE, Apple, Bowing, Continental Airlines, etc. have no cash to pay payroll, in fact they have no liquidity at all to pay anything. You go to use your debt card to buy gas and doesn't work. Do you need more examples. I realize this is hard to comprehend but that is what happens when a bank loses their liquidity. It can't honor its liabilities (deposits) because it has no cash.

Now to the redneck banker who keeps pretending he is an expert. What do you think people would have done to your little solvent bank. They would have run as fast as they could to take their money out, creating the inability for your bank to honor the request of it depositors thus causing it to fail.

Now thank god good decisions were made or we would have all been F>>ked.

Bailing out the banks was not a political decision, albeit many have tried to make hay with it. It had to be done, and it is real easy after the fact to say we didn't need the capital, but they did.

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What we ever do without Sambo here to explain things to us poor little bumpkins?

Obviously from your statements...someone needs to:rolleyes:

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Originally Posted by sambo

Let me spell this out for you. To begin with the debt ceiling and banks have nothing in common....(who said anything about the two being related?)is this some comparison Rush or Beck(I never pay attention to those two wealthy idiots) are using because the two things have absolutly nothing in common.

Ok let Bank of America and JPMorgan/Chase fail. What happens? AT&T, Exxon, Haliburten, Duke Energy, GE, Apple, Bowing, Continental Airlines, etc. have no cash to pay payroll, in fact they have no liquidity at all to pay anything.(so, they learn a lesson about being careful about where they deposit their money and which bank they choose to do buisness with all the while, too big to fail has never been addressed, If anything, the big banks were rewarded for criminal banking practices because they got to write the laws that allowed them to legally steal from tax payers) You go to use your debt card to buy gas and doesn't work. Do you need more examples. I realize this is hard to comprehend but that is what happens when a bank loses their liquidity. It can't honor its liabilities (deposits) because it has no cash.

Now to the redneck banker who keeps pretending he is an expert. What do you think people would have done to your little solvent bank. They would have run as fast as they could to take their money out, creating the inability for your bank to honor the request of it depositors thus causing it to fail.(speculation on your part and the community banks have grown since consumers just don't trust the mega-banks)

Now thank god good decisions were made or we would have all been F>>ked. We were f>>ked and didn't even get kissed.

Bailing out the banks was not a political decision,(the banking lobby got the politicians to write bad laws that allowed this to happen so, don't say it wasn't political) albeit many have tried to make hay with it. It had to be done, and it is real easy after the fact to say we didn't need the capital, but they did.

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My responces are in red.

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Originally Posted by sambo

Let me spell this out for you. To begin with the debt ceiling and banks have nothing in common....is this some comparison Rush or Beck are using because the two things have absolutly nothing in common.

Ok let Bank of America and JPMorgan/Chase fail. What happens? AT&T, Exxon, Haliburten, Duke Energy, GE, Apple, Bowing, Continental Airlines, etc. have no cash to pay payroll, in fact they have no liquidity at all to pay anything. You go to use your debt card to buy gas and doesn't work. Do you need more examples. I realize this is hard to comprehend but that is what happens when a bank loses their liquidity. It can't honor its liabilities (deposits) because it has no cash.

Now to the redneck banker who keeps pretending he is an expert. What do you think people would have done to your little solvent bank. They would have run as fast as they could to take their money out, creating the inability for your bank to honor the request of it depositors thus causing it to fail.

Now thank god good decisions were made or we would have all been F>>ked.

Bailing out the banks was not a political decision, albeit many have tried to make hay with it. It had to be done, and it is real easy after the fact to say we didn't need the capital, but they did.

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Sambo, are you seriously saying that Apple couldn't find one bank outside of the US who would give them a loan? Goldman Sachs payed 953 bankers/traders bonus of over $1 million dollar each, can you seriously say that was money well spent? Bush and his buddies gave away Billions of dollars to his buddies with absolutely no conditions placed on it, dumb, dumb and dumb.

I'm not saying any of this was smart and we should have never removed the regulations that allowed banks to be too big to fail. And that is why the bailout happened....because the price of failure was too big. And Franco you are right, they are still too big to fail, and that still needs to be addressed.

Now if my little bank got in trouble, they would let it fail.

Partially why we did not get a legislation passed that would break these banks up is that they did not what to hinder the flow of capital given the extent of the recession. I only hope that this get further address as the economy gets healthy again.

And yes money drives what our politians do. So what is good for Goldman or Exxon is not necessarily good for us as individuals

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Originally Posted by sambo

Let me spell this out for you. To begin with the debt ceiling and banks have nothing in common....is this some comparison Rush or Beck are using because the two things have absolutly nothing in common.

Ok let Bank of America and JPMorgan/Chase fail. What happens? AT&T, Exxon, Haliburten, Duke Energy, GE, Apple, Bowing, Continental Airlines, etc. have no cash to pay payroll, in fact they have no liquidity at all to pay anything. You go to use your debt card to buy gas and doesn't work. Do you need more examples. I realize this is hard to comprehend but that is what happens when a bank loses their liquidity. It can't honor its liabilities (deposits) because it has no cash.

Now to the redneck banker who keeps pretending he is an expert. What do you think people would have done to your little solvent bank. They would have run as fast as they could to take their money out, creating the inability for your bank to honor the request of it depositors thus causing it to fail.

Now thank god good decisions were made or we would have all been F>>ked.

Bailing out the banks was not a political decision, albeit many have tried to make hay with it. It had to be done, and it is real easy after the fact to say we didn't need the capital, but they did.

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Sambo, you and I rarely agree on anything...but....

I do think the general public has very little concept in regards to banking systems. That being said.... If the headlines were to read "Bank Of America Fails, Customers Lose Millions".... that would have caused A MASSIVE run on all banks. Every bank, large and small, would have customers standing in lines for miles waiting to withdraw what money they *assumed* the bank could cash out to them.

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Originally Posted by ARay11

Sambo, you and I rarely agree on anything...but....

I do think the general public has very little concept in regards to banking systems. That being said.... If the headlines were to read "Bank Of America Fails, Customers Lose Millions".... that would have caused A MASSIVE run on all banks. Every bank, large and small, would have customers standing in lines for miles waiting to withdraw what money they *assumed* the bank could cash out to them.

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Simply not true....at least not with the evidence at hand. People are currently lining up for miles to open accounts with the smaller banks to get away from the bailed out banks. To say people would have done this to all banks is speculation at best and contrary to current evidence!

I haven't seen the debt ceiling referenced in this thread but I skimmed some of the posts. But to say that spending trillions to bail out banks has nothing to do with the debt ceiling is a little ridiculous don't you think?

What about the 15 TRILLION that was loaned to foreign banks? In my book, that was not only unConstitutional but treason by our Treasury and Federal Reserve!