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Thread: Woohoo...we're going to be rich!

  1. #1
    ♫♪ ♫♪ ♫♪ ♫♪ downhill's Avatar
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    Woohoo...we're going to be rich!

    The government just bought a trillion dollar insurance company!

    Ya gotta love corporate socialism.

  2. #2
    Ohh Hell yeah.. Sava700's Avatar
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    well.. I wasn't expecting Bill Gates to buy it so that left only one other.

    I wonder what would have happened if it was left to fail otherwise?

  3. #3
    Second Most EVIL YARDofSTUF's Avatar
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    Quote Originally Posted by Sava700 View Post
    well.. I wasn't expecting Bill Gates to buy it so that left only one other.

    I wonder what would have happened if it was left to fail otherwise?
    The top execs would be out millions in bonuses and severance and a ton of people would have a ****** retirement fund lol

    Though they could have bailed it out in a different way I assume.

    Seems like our government is gonna get a lot bigger if this keeps up.

  4. #4
    Quote Originally Posted by Sava700 View Post
    well.. I wasn't expecting Bill Gates to buy it so that left only one other.

    I wonder what would have happened if it was left to fail otherwise?
    Are you suggesting the gov't is obligated to bail out a failing business? The answer to your other question is obvious.....it would have failed.

  5. #5
    Second Most EVIL YARDofSTUF's Avatar
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    Quote Originally Posted by Izzo View Post
    Are you suggesting the gov't is obligated to bail out a failing business? The answer to your other question is obvious.....it would have failed.
    Its probably best for us in the long run to bail them out.

  6. #6
    ♫♪ ♫♪ ♫♪ ♫♪ downhill's Avatar
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    Quote Originally Posted by Sava700 View Post
    well.. I wasn't expecting Bill Gates to buy it so that left only one other.

    I wonder what would have happened if it was left to fail otherwise?
    Ask Phil Gramm. You know. The guy who wrote changes to oversights that would have prevented most of this melt down in the first place? The guy who's wife was a lawyer for Enron and they profited big time from those changes?

    The guy who called those who were warning about all this and the melt down of the economy, a "nation of whiners" whose economic complaints are mostly "mental."

    Oh yeah, the guy who also heads McCains campaign and will be a shoe in for Secretary of the Treasury?

    You can't have your cake and eat it too, Sava.

  7. #7
    Moderator YeOldeStonecat's Avatar
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    Wonder if any AIG execs will suddenly join Obama's team.

    **cough cough**...Raines and Johnson **cough cough** both former CEOs of Fannie Freddie **cough cough** huge going away salaries **cough cough** both joined as political and economic advisers to Obama **cough cough**

    The empty suitcase annointed one promises big change...but his actions speak otherwise...more of the same'ol same'ol...keep it all in the family.
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  8. #8
    ♫♪ ♫♪ ♫♪ ♫♪ downhill's Avatar
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    Again, blame Gramm....who once again is the head of McCains team.

    Back to subject.

    Who here is actually willing to pay for this. I mean REALLY pay for this? Are you willing to step up what you pay in federal taxes?

    After all, we're still paying for the tax cuts under the Reagan years.

  9. #9
    Second Most EVIL YARDofSTUF's Avatar
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    Quote Originally Posted by downhill View Post
    Again, blame Gramm....who once again is the head of McCains team.

    Back to subject.

    Who here is actually willing to pay for this. I mean REALLY pay for this? Are you willing to step up what you pay in federal taxes?

    After all, we're still paying for the tax cuts under the Reagan years.
    If we dont pay and don't bail out these giants, whats the side effects to us?

  10. #10
    ♫♪ ♫♪ ♫♪ ♫♪ downhill's Avatar
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    Greenspan says it wouldn't be pretty. I've not read what some of the major ecomomist have to say about what to do but I'll say that Paul Krugman's been warning about just this exact thing for over four years now. His solution then? Put oversight back in place.

    What are the Reps proposing with this bailout? Put oversight back in place with you, the taxpayer, holding the bill.

    Again, are we really going to pay for this or are our great great grandkids? My guess is the later.

  11. #11
    Ohh Hell yeah.. Sava700's Avatar
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    Well it seems I got the answers I wanted....

    Its prob best that they did bail it out like YOS said.. not to mention as he said

    "The top execs would be out millions in bonuses and severance and a ton of people would have a ****** retirement fund lol"

    very true ^^

    Although I agree there may have been a different way to go about it but I'm not as many others here in any position to dictate how it was done or should have been done.

  12. #12
    R.I.P. 2017-10-02 Joint Chiefs of Staff's Avatar
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    Quote Originally Posted by downhill View Post

    After all, we're still paying for the tax cuts under the Reagan years.
    And lets not forget social security tax from the Roosevelt years.
    >>Cult Master of International Affairs<<

  13. #13
    ♫♪ ♫♪ ♫♪ ♫♪ downhill's Avatar
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    There is a positive balance in that fund, JCOS. It's solvent till 202x something and if the government pays it back, bonds due, then it's solvent if we do nothing till 2036 I believe.

    I'd worry more about medicare. It's in deep pewp.

  14. #14
    Considering the logic in this thread you might as well keep your purses open when GM comes callin'.

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  16. #16
    NYC Newbie Slayer Prey521's Avatar
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    Quote Originally Posted by YARDofSTUF View Post
    Its probably best for us in the long run to bail them out.
    Considering the long term ramifications had AIG gone under, the Feds had no choice but to bail them out. The markets and the economy are in to fragile a state at the moment to have a financial institution as large as AIG tank.
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  17. #17
    Moderator YeOldeStonecat's Avatar
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    Quote Originally Posted by downhill View Post
    Again, blame Gramm....who once again is the head of McCains team.

    Back to subject. .
    Just pointing out...those who live in glass houses..... (not you..but Obama)

    When E.F.Hutton speaks..do people still listen?
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  18. #18
    TypicalWhitePerson JC's Avatar
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    Quote Originally Posted by downhill View Post
    we're still paying for the tax cuts under the Reagan years.

    LOL Paying for tax cuts
    Speedguide.... If you don't love Obama you won't like it here.
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  19. #19
    ♫♪ ♫♪ ♫♪ ♫♪ downhill's Avatar
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    Quote Originally Posted by JC View Post
    LOL Paying for tax cuts
    Yeah I guess not. Your kids will or your grandkids.

    So far you've not paid a red nickle to help the debt caused by them.

    Actually I didn't get a tax cut. I actually ended up paying more in fed taxes, despite making a bit less for that first year they were implemented and I could very well be wrong on what you paid as that was long enough ago that you probably were still living at home.

  20. #20
    TypicalWhitePerson JC's Avatar
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    Quote Originally Posted by downhill View Post
    The government just bought a trillion dollar insurance company!

    Ya gotta love corporate socialism.
    Gotta love the fact that the Dems caused most of financial problems with the market today.
    Speedguide.... If you don't love Obama you won't like it here.
    Straight out the Trailer!
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