Does Anyone feel like Bailing

[Pico and ME]

Why is it seen as alright to rescue big corporations and not everyday working people? Are their sins more forgivable or what?

[classicman]

Who said it was or wasn't?

[Pico and ME]

Classic, didn't these banks and financial companies get into trouble 'through no fault of their own, too?

[classicman]

Not in my opinion, NOT AT ALL.

[tw]

Originally Posted by classicman

Not in my opinion, NOT AT ALL.

Two posts and nothing said.

1) Why is it seen as alright to rescue big corporations and not everyday working people?

2) Why did these banks and financial companies get into trouble 'through no fault of their own, too?

A major oppurtunity exists. Classicman would answer Pico and Me with a reply that does not waste bandwidth. There it is, classicman. His two questions. You consumed bandwidth with cheap shots. Now, what is your answer - which means you also post supporting facts. An answer with supporting facts - please fill us with your wisdom.

[Pico and ME]

Classic, Im still confused...which questions were asked of me?

[classicman]

Post #287 - sorry singular

[Pico and ME]

Oh, you mean your question for my question? Thats me being somewhat rhetorical. You seem to like jumping on the 'slam the little guy for his financial indiscretions' bandwagon, which just brought my question to mind. I responded to your question with post #288. Do you really need me to clarify that it wasn't you who 'said it'?

I have a major issue with giving these banks this corporate welfare and then not giving anything to the people on the front lines whose lives are more seriously affected by this mess. Not giving them help because it was 'their fault and bad decision making' when we are doing it for corporations is just plain sinister.

[HungLikeJesus]

What we have here -

... is failure to communicate.

[Pico and ME]

Again.

This is getting too cozy.

[classicman]

Originally Posted by Pico and ME

Why is it seen as alright to rescue big corporations and not everyday working people? Are their sins more forgivable or what?

Originally Posted by classicman

Who said it was or wasn't?

Originally Posted by Pico and ME

Classic, didn't these banks and financial companies get into trouble 'through no fault of their own, too?

Originally Posted by classicman

Not in my opinion, NOT AT ALL.

Originally Posted by Pico and ME

I have a major issue with giving these banks this corporate welfare and then not giving anything to the people on the front lines whose lives are more seriously affected by this mess. Not giving them help because it was 'their fault and bad decision making' when we are doing it for corporations is just plain sinister.

I agree with that. I never said anything to the contrary. It still sucks that those who are paying their mortgages and their taxes have to bail ANYONE out.
I think you took my quote out of context. I believe the lenders are at fault. I believe the politicians that passed the laws which forced lenders to offer loans to people who really didn't qualify are at fault and I think that the people who took out loans that they knew or should have known they couldn't afford are both at fault.

[toranokaze]

The reason(at least to my understanding) for the bail out is to ensure that the economy doesn't go into a crash that would rival 1929

[Griff]

I'm still of an opinion that this recession would have been relatively short (a couple years) and very hard if they didn't bail any organizations out. With the bailouts we're subsidizing organizations that need to fail, propping up housing prices that need to go down, and punishing savers in favor of the over-extended. This will likely be long and hard. I often wonder about the lessons we "learn" from history, was world war really the only way out of the Great Depression? Consider as well the re-writing that has been done in the meantime. Merc is hardly the first person to create and disseminate false history.

As presently constructed, the GOP is the party of business subsidy and the Dems are the party of individual subsidy. Neither is a party favoring responsibilty. At this point, I figure the best option is to go to work every day do my job and hope that Obama can find a middle way that doesn't create incentives for further nonsense.

[ZenGum]

That's a disconcerting point from Griff there. The great depression was a significant factor in causing WWII, and the eventual economic recovery was partly driven by the military spending of the 1930s.

So, ah, if this does turn out to be a very bad depression, does that mean we are going to have another big war in maybe a decade's time? Hope not!

[glatt]

Originally Posted by ZenGum

So, ah, if this does turn out to be a very bad depression, does that mean we are going to have another big war in maybe a decade's time? Hope not!

I just read a headline in today's paper that said pretty much the same thing.

Experts See Security Risks in Downturn
Global Financial Crisis May Fuel Instability and Weaken U.S. Defenses

By Joby Warrick
Washington Post Staff Writer
Saturday, November 15, 2008; A01

Intelligence officials are warning that the deepening global financial crisis could weaken fragile governments in the world's most dangerous areas and undermine the ability of the United States and its allies to respond to a new wave of security threats.