voices from the past

Date 03-16-2009 02:22

That guy was right, and the same thing just happened to realestate. When will people learn not to spend money they can not pay back?

By swsweld (****)

Date 03-16-2009 04:37

What is ironic is Pres. Obama and his advisor Dr Christina Romer say that the fundamentals of the economy is sound, and we are to take them seriously. When McCain said the same thing during the campaign he was ripped to shreds. The economy is much worse today than it was then.

By CWI555

Date 03-16-2009 14:05

Spending 2 trillion dollars when the net worth of the country has been reduced by 5.1 trillion (or near to half) does not do anything for anyone. We lost over half the value already anyway with the 2 trillion spending. I don't know what the exact figures are, but the net loss of all the troubled companies if they had just filed chapter 11 I would think would be near to the 5.1 trillion figure. 5.1 trillion is 16k and change for every man, woman, and child. Thats the total market loss. The 2 trillion in our tax dollars spent to cover this loss is around 6k for every man, woman, and child. Now there are rumblings of another spendulus package.

My question is this; We've effectively bought shares of AIG, GM, and every other company that received bailout money, and if it keeps up, we (the U.S. government) will effectively own many of these corporations, who then gets any future profit dividends?

It looks more like to me we are getting backdoor socialism without a vote or proper representation. Anyone disagree with this?

By BryonLewis (****)

Date 03-16-2009 16:05

It would be truly interesting to me to see what the Republicans would have done if McCain would have been elected. Money has to come from somewhere to get the companies back up on their feet. Bush started the "Socialization" with the hand out to AIG. Now apparantly those wanks are sending that cash to Europe. http://news.yahoo.com/s/politico/20090316/pl_politico/20039

No one else is able or at least willing to invest in these failing companies. So you either get gov't money or you fall into bankruptcy. The world market is so much different now than in any other time in history. It is going to take quite some time to figure this all out. The Collapse started years ago, it didn't start on January 20. Maybe is McCain was president he could sale his house, oh houses, and donate that money to the Cause.

If any of us truly had the answer then we would be working for AIG and others trying to figure out how to rob its customers and now the tax payers. Who knows? Warren Buffet "lost" billions last year. If he don't know what to do, I'm not even going to try. I'll just ride this bit*h til the wheels fall off. :-)

By CWI555

Date 03-16-2009 16:50

It started in 1992 with Bill Clinton and Barny Franks. Every politician between then and now are equally responsible for knowingly leaving the situation status quo.
Now we are making more mistakes and throwing good money after bad.

By Mikeqc1 (****)

Date 03-16-2009 16:20

i agree 100%

By js55

Date 03-16-2009 15:52

Obama also ripped McCain to shreds on the issue of taxing employer insurance benefits for employees. And, uh, here he is 'remaining open' (weasel words) to the possibility of doing it himself. Never mind McCain wanted to include a tax credit for those who maintain their own insurance. Obama don't wanna give tax credits. He wants it all. Gotta pay for research on pig stink.
He also promised no taxes for incomes below 200K. Thats startin to slip away.

By michael kniolek (***)

Date 03-16-2009 21:32

I love these old news reels.......its amazing change the clothing and colorize them and youd swear its now