U.S. banks on brink of collapse? $517 billion losses threaten 63 banks

[edjr 6,592]

2 minutes ago, thegeneral said:

Everyone was on board with the bailouts. If it didn’t happen we’d have been focked.

The banks are the ones who should be the grownups not your average idiot out there.

I was not. Pretty sure RLLD wasn't.

You really expect someone with sub 600 credit to give a fock about borrowing money and not paying it back?  The problem with credit scores, they don't mean enough.

So you're a liberal, you're okay with Obama bailing out the banks. If it were an R president, you would have been against it. 

That is why America is focked. 

 

[thegeneral 3,214]

13 minutes ago, edjr said:

I was not. Pretty sure RLLD wasn't.

You really expect someone with sub 600 credit to give a fock about borrowing money and not paying it back?  The problem with credit scores, they don't mean enough.

So you're a liberal, you're okay with Obama bailing out the banks. If it were an R president, you would have been against it. 

That is why America is focked. . 

Quite the opposite on this issue. We had to do this, it began when W was in charge BTW. He acted like he wouldn’t then when he was told what would happen if we didn’t act he cut the check. They had us by the short ones.

It’s easy for people not in charge of the well being of millions of families to say do nothing especially after the fact when no consequences were felt. Politicians also get to do this when they know something is going to pass. 

That like one person was put in jail for that was focked. 

[edjr 6,592]

2 minutes ago, thegeneral said:

Quite the opposite on this issue. We had to do this, it began when W was in charge BTW. He acted like he wouldn’t then when he was told what would happen if we didn’t act he cut the check. They had us by the short ones.

It’s easy for people not in charge of the well being of millions of families to say do nothing especially after the fact when no consequences were felt. Politicians also get to do this when they know something is going to pass. 

That like one person was put in jail for that was focked. 

what did we learn, when we are in the same place 15 years later?

[thegeneral 3,214]

Just now, edjr said:

what did we learn, when we are in the same place 15 years later?

Who knows. People like getting rich, people are greedy, the system is convoluted, complex and intertwined into all aspects of our lives and our politics. 

Personally I just hope the wheels stay on in my lifetime

Overall I def lean towards heavier government regulation but that too can also have its negative consequences.

[GutterBoy 2,899]

7 minutes ago, edjr said:

what did we learn, when we are in the same place 15 years later?

We're not in the same place now v 2007, not even close.,

[edjr 6,592]

Just now, GutterBoy said:

We're not in the same place now v 2007, not even close.,

Yet to be seen

[The Real timschochet 6,765]

33 minutes ago, edjr said:

 

So you're a liberal, you're okay with Obama bailing out the banks. If it were an R president, you would have been against it. 

That is why America is focked. 

 

FTR it was Bush that bailed out the banks before Obama took office. So I think that defeats your theory. 

[edjr 6,592]

2 minutes ago, The Real timschochet said:

FTR it was Bush that bailed out the banks before Obama took office. So I think that defeats your theory. 

What was the 900 Billion Obama Recovery Act for?

[The Real timschochet 6,765]

5 minutes ago, edjr said:

What was the 900 Billion Obama Recovery Act for?

For the economy in general, not for the banks. The bank rescue was signed by George W Bush in October of 2008. 

[edjr 6,592]

Just now, The Real timschochet said:

For the economy in general, not for the banks. The bank rescue was signed by George W Bush in October of 2008. 

within 1 year the USA did 1.5 trillion in bailouts?  

[The Real timschochet 6,765]

2 minutes ago, edjr said:

within 1 year the USA did 1.5 trillion in bailouts?  

Yes. 

[GutterBoy 2,899]

17 minutes ago, edjr said:

within 1 year the USA did 1.5 trillion in bailouts?  

Trump did 2.2T

[edjr 6,592]

14 minutes ago, GutterBoy said:

Trump did 2.2T

TDS

[GutterBoy 2,899]

Just now, edjr said:

TDS

Blame Bush/Obama, forgive Trump.  TDS (Trump d1ck Sucker)

[edjr 6,592]

2 minutes ago, GutterBoy said:

Blame Bush/Obama, forgive Trump.  TDS (Trump d1ck Sucker)

2016 covid, same as 2008 bailouts    Not doing this with you. You know you have incurable TDS

[GutterBoy 2,899]

3 minutes ago, edjr said:

2016 covid, same as 2008 bailouts    Not doing this with you. You know you have incurable TDS

Covid was 2020, retard.  And you can argue that the bank bailout was more important than the free covid money.

[thegeneral 3,214]

4 minutes ago, edjr said:

2016 covid, same as 2008 bailouts    Not doing this with you. You know you have incurable TDS

Pretty much anyone of any consequence in power was in favor of the bank bailouts as they were rightfully scared shitless as to what might occur.

[thegeneral 3,214]

47 minutes ago, edjr said:

within 1 year the USA did 1.5 trillion in bailouts?  

TARP

[joneo 556]

I'm sure Ukraine will send us aid to bail out the banks.

[MLCKAA 574]

4 hours ago, purdygood said:

maybe these banks shouldn't be extending credit to or giving loans to people who cant pay them back (shrugs)

This is true, but they do it anyway because they’re predatory.

[TheNewGirl 1,491]

53 minutes ago, joneo said:

I'm sure Ukraine will send us aid to bail out the banks.

Zelensky will pay us back, totes. 

[easilyscan 925]

3 hours ago, thegeneral said:

Quite the opposite on this issue. We had to do this, it began when W was in charge BTW. 

The Bush administration warned of the problems long before the meltdown. 

 

[Hardcore troubadour 15,433]

6 hours ago, Tree of Knowledge said:

Those summer home mansions in the Hamptons aren’t going to suffer.  

They didn’t last time. And they won’t this time. 

[thegeneral 3,214]

54 minutes ago, easilyscan said:

The Bush administration warned of the problems long before the meltdown. 

 

Talk is cheap! Everyone had roles to play in that meltdown - government polices, greedy lenders, dumb people thinking buying a home with no money down and shady income was a good idea, etc.

One thing everyone seemed to agree on was when the rubber hit the road some banks needed to be bailed out or everyone was going to be fighting to eat catfood and traveling on railroads like hobos.

[easilyscan 925]

27 minutes ago, thegeneral said:

Talk is cheap! Everyone had roles to play in that meltdown - government polices, greedy lenders, dumb people thinking buying a home with no money down and shady income was a good idea, etc.

Agree that talk is cheap, & everything else you mentioned there. It's just that it's hard to address an issue when it's brought to light and people like Barney Frank & others insisted everything was fine.

The seeds for the meltdown were planted decades earlier. This is the best article I've ever read on the subject. 

https://www.backwoodshome.com/the-meltdown-and-the-bailout-why-how-and-what-they-mean/

[thegeneral 3,214]

47 minutes ago, easilyscan said:

Agree that talk is cheap, & everything else you mentioned there. It's just that it's hard to address an issue when it's brought to light and people like Barney Frank & others insisted everything was fine.

The seeds for the meltdown were planted decades earlier. This is the best article I've ever read on the subject. 

https://www.backwoodshome.com/the-meltdown-and-the-bailout-why-how-and-what-they-mean/

Politics as always adds another wrinkle. In this case I do think the intentions from the government were good - get people into homes and have them paying into something. Everyone wanted this. W was big on this as were plenty of Senators both Lib and Conservative. 

Greed from many players in all positions of this arraignment is what allowed it to get out of hand. Ultimately I’d put majority of the blame on the institutions who control the money however. The government was working to allow them to do it more freely though as well and it just so happens many of those jobs and players are intertwined. Crazy how that worked

[edjr 6,592]

torridjoe says the economy is fine. thread closed 

[RLLD 4,230]

32 minutes ago, edjr said:

torridjoe says the economy is fine. thread closed 

Yeah, if that is your source of economic guidance, good luck...right?