bail or no bail.

sooo im sure you guys know about the economic crisis going on right now--ill get to the point.
should the government go through with the bailout plan or let wall street bail out itself.

i think duhhh wall street doesn't have enough money to do that and we're america we work together we should bail them out and bail out other companys that are folding right now from our dumb governments decisions. i can't even believe that people are suggesting different.

No, the businesses are not failing just because of the government, they are failing because they are making bad business decisions. People are losing thousands everyday because the bank can't financially hold itself up from their stupid decisions.

no bail, but what do i know lol?

Bail- The principal root reason the Great Depression happened was because wall street crashed and banks collapsed. The government is trying to prevent a 60% unemployment. It may make us as a generation pay more in taxes and detract needed funds, but it's better than the alternative. Also, if these businesses fail, it's going to have a much more long term impact on trade and such than home forecloses

Yet at the same time, the great depression happened because the banks had no security for when the market failed. This time the banks had a fall back and the government created such a program for when this would happen. Unfortunately the banks are doing stupid shit with the money during an obvious economic crisis.

the economy is like a forest: if you continually put out all the little fires that come up, you are only creating an inevitable and unstoppable wildfire because you have allowed the underbrush to overgrow. likewise, if the government keeps bailing out the irresponsible, like those who bought a house using a variable interest loan about 5 years ago or even the banks who distibuted such loans, you are only putting off, as well as amplifying, an incredible crash in the economy. Although it may suck for a while, sometimes you just have to let the economy burn a little bit, as well as let natural selection eliminate stupid people. Besides, if i were a taxpayer who had been responsible with my money over the past few years and had also chosen an initially more expensive, but safer flat-rate loan, i would be pissed to hear that i'm going to be held responsible for subsidizing dumb people as a result of their own mistakes.

Adonai wrote:the economy is like a forest: if you continually put out all the little fires that come up, you are only creating an inevitable and unstoppable wildfire because you have allowed the underbrush to overgrow. likewise, if the government keeps bailing out the irresponsible, like those who bought a house using a variable interest loan about 5 years ago or even the banks who distibuted such loans, you are only putting off, as well as amplifying, an incredible crash in the economy. Although it may suck for a while, sometimes you just have to let the economy burn a little bit, as well as let natural selection eliminate stupid people. Besides, if i were a taxpayer who had been responsible with my money over the past few years and had also chosen an initially more expensive, but safer flat-rate loan, i would be pissed to hear that i'm going to be held responsible for subsidizing dumb people as a result of their own mistakes.

Perfect explanation.

Pinthin wrote:

Adonai wrote:the economy is like a forest: if you continually put out all the little fires that come up, you are only creating an inevitable and unstoppable wildfire because you have allowed the underbrush to overgrow. likewise, if the government keeps bailing out the irresponsible, like those who bought a house using a variable interest loan about 5 years ago or even the banks who distibuted such loans, you are only putting off, as well as amplifying, an incredible crash in the economy. Although it may suck for a while, sometimes you just have to let the economy burn a little bit, as well as let natural selection eliminate stupid people. Besides, if i were a taxpayer who had been responsible with my money over the past few years and had also chosen an initially more expensive, but safer flat-rate loan, i would be pissed to hear that i'm going to be held responsible for subsidizing dumb people as a result of their own mistakes.

Perfect explanation.

Thank you.

Well clearly no bail was decided

Adonai wrote:the economy is like a forest: if you continually put out all the little fires that come up, you are only creating an inevitable and unstoppable wildfire because you have allowed the underbrush to overgrow. likewise, if the government keeps bailing out the irresponsible, like those who bought a house using a variable interest loan about 5 years ago or even the banks who distibuted such loans, you are only putting off, as well as amplifying, an incredible crash in the economy. Although it may suck for a while, sometimes you just have to let the economy burn a little bit, as well as let natural selection eliminate stupid people. Besides, if i were a taxpayer who had been responsible with my money over the past few years and had also chosen an initially more expensive, but safer flat-rate loan, i would be pissed to hear that i'm going to be held responsible for subsidizing dumb people as a result of their own mistakes.

mk i think i see your side of it now--i guess i have only heard one side though before this. hmm it doesn't matter anymore though because no bail was decided so hopefully your right haha.

Adonai wrote:the economy is like a forest: if you continually put out all the little fires that come up, you are only creating an inevitable and unstoppable wildfire because you have allowed the underbrush to overgrow. likewise, if the government keeps bailing out the irresponsible, like those who bought a house using a variable interest loan about 5 years ago or even the banks who distibuted such loans, you are only putting off, as well as amplifying, an incredible crash in the economy. Although it may suck for a while, sometimes you just have to let the economy burn a little bit, as well as let natural selection eliminate stupid people. Besides, if i were a taxpayer who had been responsible with my money over the past few years and had also chosen an initially more expensive, but safer flat-rate loan, i would be pissed to hear that i'm going to be held responsible for subsidizing dumb people as a result of their own mistakes.

You're right, don't mess with the economy. Especially bailing out companies like Fannie Mae and Freddie Mac when they gave out loans to everyone. We also need tighter restrictions on credit, otherwise this debt is going to keep piling up.

I think we do probably need the bailout I have decided, or at least I think one of some description will happen

Wgrt wrote:I think we do probably need the bailout I have decided, or at least I think one of some description will happen

we??

haha

Don't bail out all the stupid people that got bad loans and couldn't afford them. Because If you bail them out now they think they will get bailed out later.

JK Runs wrote:Don't bail out all the stupid people that got bad loans and couldn't afford them. Because If you bail them out now they think they will get bailed out later.

The people aren't going to pay them back anyway. For the moment. The US government is just buying the debt anyway, so there is a chance that people will pay their loans back. So the government could actually get all it's money, plus a profit, back. They shouldn't let the banks get away with it though, if they want to give out stupid loans, they should suffer the consequences. But looks like the bill was passed, so they're going to get away with it anyway. Although I think it's the last nail in the coffin for the US dollar.

Pinthin wrote:

Wgrt wrote:I think we do probably need the bailout I have decided, or at least I think one of some description will happen

we??

haha

The world's economies are connected.