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I guess you could call me a trouble maker, today :-)

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MeDeMax Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 11:14 AM
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I guess you could call me a trouble maker, today :-)
I am really unhappy with the events on wall street over the past few days / weeks / months.

So, this morning, I mouthed off a few comments on GD calling for a halt on tax payer funded bailouts, for the likes of Bear-Stern / Lehman / Merylynch.

Boy did I infuriate a lot of people :

NO Corporate Welfare, please let wall street collapse

I meant the BIG 5 investment banks (now 2 remain), and their support structures, like credit rating companies that ought to have told us months ago that Lehman was going under.

That is the most responses and recommendations I have *EVER* received for mouthing off in the heat of 1 minute.


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Kukesa Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-17-08 08:01 AM
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1. My Economics professor would agree with you. n/t
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geiger Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-17-08 02:33 PM
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2. Meanwhile the govt allows the lenders to take peoples' homes in unprecedented numbers. eom.
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AngryOldDem Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Sep-18-08 01:54 PM
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3. You said what a lot of us think, but are afraid to say out loud.
I find it criminally obscene that many hard-working people are losing their homes and their jobs while these modern-day robber barons, who know their economics and know how delicately balanced financial markets are, expect the government to save them from their overdose of greed. We know damned good and well that they saw this meltdown coming years ago, but yet they kept on to further line their profit margins.

And then they have the gall to blame the hard-working person for not knowing better than to take out subprime loans and mortgages! Bail out Joe and Jane Sixpack first, and then deal with the Lehman Brothers, Merrill Lynch, WaMu, and Goldman CEOs later -- MUCH later. (And I also lump Ben Bernanke in here as well.)

This is just desserts, IMO. I'm poor; have been and always will be. On a visceral level, I really don't care what happens to Wall Street -- not much I can do about it but file away my 401k statements.

That said, however, we must care. Too much is at stake both here and worldwide to see the financial system entirely collapse. The true test of this will be if anyone learns anything from this. A lot of regulations came out of the 1929 crash and Great Depression -- and they worked well. But over recent years, though, they have been shortcircuited which is why to some extent we are in the mess we are today. (Not to mention that bastard St. Ronnie, who accelerated the decline with his deregulation and Reaganomics.)

I am taking some comfort, though, in the shift in the polls over the past few days. Obama is gaining ground -- I think people are finally getting the message that they have been getting silently screwed over by GOP policies for many, many moons. How anyone can listen to McCain talk about economic reform and his deep concern for the average working man, and keep a straight face, is just beyond me.
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