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Thread: 1st they came for the banks......

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    Senior Member badbullgator's Avatar
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    Default 1st they came for the banks......

    Maybe I am wrong but this scares the crap out of me. Chipping away....what is next? Your business?

    http://www.msnbc.msn.com/id/29847658

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    Senior Member road kill's Avatar
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    Quote Originally Posted by badbullgator View Post
    Maybe I am wrong but this scares the crap out of me. Chipping away....what is next? Your business?

    http://www.msnbc.msn.com/id/29847658

    Health Care is next my friend!!

    Ain't it wonderful??
    Stan b & Elvis

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    Senior Member YardleyLabs's Avatar
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    The power to seize and liquidate banks was based on Federal deposit insurance and the need for the government to be able to provide for an orderly close out of illiquid banks so that the overall stability of financial markets would not be destroyed as it was in the Depression. Today, the money system is much more complex. Bank holding companies that were basically established to circumvent state and federal regulation now have more of an impact on financial stability than traditional banks as the current crisis has made clear.

    To protect the financial system, the federal government has stepped in to protect creditors of illiquid institutions. However, it has not had the tools to allow it to liquidate illiquid institutions forcing the type of abortion we have at AIG and could end up having at places like Citigroup. While we could theoretically allow these institutions to declare bankruptcy, that type of abrupt failure endangers the overall structure of financial markets as was illustrated by the failure of Lehman Brothers. It seems to me that we cannot afford to permit unregulated companies to play a central role in the operation of our national and international financial markets. Too big to fail means, I believe, to big to live without oversight. Part of that oversight requires that there be better mechanisms for managing insolvency in a way that protects the balance of the financial industry. If that existed now, AIG would now be out of business as it should be and Citigroup would probably be headed in the same direction.

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    From each according to his ability, to each according to his need

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    Senior Member Captain Mike D's Avatar
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    Quote Originally Posted by badbullgator View Post
    Maybe I am wrong but this scares the crap out of me. Chipping away....what is next? Your business?

    http://www.msnbc.msn.com/id/29847658

    And this surprises you how?

    1. Attempt to seize control of census-Whitehouse control
    2. Attempt to place salary cap on execs recieving Tarp funds-Whitehouse control
    3.Attempt to stop bonuses for employees of companies recieving Tarp
    money-Whitehouse control
    4. Attempt to extend salary caps to businesses not recieving Tarp or Bailout money- Whitehouse control
    5. Attempt to place high level of control on states recieving bailout cash Whitehouse control
    6.Attempt to take over investment firms who are in trouble regardless of weather they are a financial institution or not Whitehouse control

    HUGE power play for control by Obama, hell, who needs a Constitution when we have one man who is so brilliant and worthy
    I just wonder who's power he will want to usurp tomorrow
    Last edited by Captain Mike D; 03-24-2009 at 03:30 PM.

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    Senior Member BonMallari's Avatar
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    Quote Originally Posted by road kill View Post
    Health Care is next my friend!!

    Ain't it wonderful??

    You are correct...they want to socialize medical healthcare...you think it takes a long time to get in to see your doctor now , just wait and see how long it takes once they change the current system
    All my Exes live in Texas

    Quote Originally Posted by lanse brown View Post
    A few things that I learned still ring true. "Lanse when you get a gift, say thank you and walk away. When you get a screwing walk away. You are going to get a lot more screwings than gifts"

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    Senior Member Richard Halstead's Avatar
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    Quote Originally Posted by Captain Mike D View Post
    3.Attempt to stop bonuses for employees of companies recieving Tarp
    money-Whitehouse control
    Why not go one step further and have all campain money given by companies receiving Tarp funds be returned as well by the public officials?
    I realise this isn't as great an amount, but it is a step on the way to recovery.
    cave canem...beware of the dog
    Richard Halstead (halst001 at yahoo.com)

    http://www.browndogmafia.com/finalists.html

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    Senior Member Captain Mike D's Avatar
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    Quote Originally Posted by Richard Halstead View Post
    Why not go one step further and have all campain money given by companies receiving Tarp funds be returned as well by the public officials?
    I realise this isn't as great an amount, but it is a step on the way to recovery.
    Your're on it Richard, but they would never agree!! Obama his own self recieved over 100k t from AIG to further his campaign. Damn all those Aholes- pitch them all out and give us some new ones that will adhere to the Constitution

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    So the FDIC should not take over banks that are in danger of failing either? I have a feeling that most of you would be giving an "Amen" to the government if they saved a bank in which you had over the FDIC limit.

    The government's role is to keep us from running into the problems we had when Hoover was president. No one wants a company to be taken over if no one is affected (owners, shareholders, vendors). But, when a company's collapse potentially affects the entire U.S. economy, they need to do it.

    Hoosier, it sounds like you would like U.S. air quality to be like that of Mexico City. Should we just let plants spew out emissions? Should we let plants dump toxic material into rivers and bays? Should we let people throw trash out of their pick-ups as they are driving down the road?

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    I agree with you on burning coal and clean-coal technology. Should we force businesses to pay for it or is that a government expense?

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