[Native Son.]

Originally Posted by TikTok

Reminds me of mungiki and the Kikuyu elite. It is about to get very nasty in central province with mafia cartels aka mungiki copycats springing up everywhere

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[Native Son.]

ONe of the problems to bedevil the capital markets as well as the collapsing banks is lack of regulations. The US congress, in its attempt to adhere to the free market system, gave the banks and mortgage lending companies a free licence to do whatever they wanted to do.

It is not repurcussions time. The proverbial chickens have come home to roost.

Secondly, coupled with the first, the sub prime mortgage lending blew things out of proportion.

Come buy a house, we'll lend you money. NO down payment (zero down), no credit rating required, if you hav eno income, that'll be fine with us.

You just don't do business that way. So many idlers got mortgages that they couldn't afford and that is the problem.

This bail out thing is just perplexing. Unles s they address the real cause, in a few years, we'll still be in this mess.

This whole issue is complex. Even Obama doesn't seem to get it.

[ghetto4nr]

Originally Posted by Native Son.

ONe of the problems to bedevil the capital markets as well as the collapsing banks is lack of regulations. The US congress, in its attempt to adhere to the free market system, gave the banks and mortgage lending companies a free licence to do whatever they wanted to do.

It is not repurcussions time. The proverbial chickens have come home to roost.

Secondly, coupled with the first, the sub prime mortgage lending blew things out of proportion.

Come buy a house, we'll lend you money. NO down payment (zero down), no credit rating required, if you hav eno income, that'll be fine with us.

You just don't do business that way. So many idlers got mortgages that they couldn't afford and that is the problem.

This bail out thing is just perplexing. Unles s they address the real cause, in a few years, we'll still be in this mess.

This whole issue is complex. Even Obama doesn't seem to get it.

I agree with you on this issue, but if you watched the debate you know that Obama gets it and McCain is none-the-wiser. He (Obama) acknowledged how dire the situation is and agreed with the proposed package, but was against the CEO culprits from getting generous severence packages.
He agrees that the "Mortgage securities" that were sold to all these now failing banks need to be backed but not for the purpose of greed (which was the basis of their creation). McCain is yet to throw his weight behind or against the package.
BTW Capitalism is on hold incase no one had noticed.

[sinband]

Originally Posted by taskmaster

DEMOCRATIC CAPITALISM has FAILED. We can NOW REVEAL.

so what are u saying? want to be a socialist?

[ghetto4nr]

Well the bailout is a socialist move, like I said before the capitalist model is on hold. BTW do you guys know that this crisis happened before. Remember the S&L (savings and loan) crisis in the 80's. The Fed bailed out some of the biggest banks in Chicago, Washington, Pennsylvania and a couple other states. Took over their assets and ran them until they were in the black and then sold them.
But the magnitude of this crisis is overwhelming and government is forced to have it's tentacles deep in the finance sector. This is socialism.

[Royalblood@kinki]

The Immorality of Corporate Plunder.

The Immorality of Corporate Plunder can not be saved by a Yes Vote.

The cycle is repetitive and will continually bail out rich thugs at the peril and mercy of the poor.

It has happened in the past, will happen today and tomorrow.

Let market forces operate from Enron to AIG and the rest who canter to a Government rescue package.

The treachery of these bailout plans is that they rescue the CEOs and Management teams again and again who successfully re-transform themselves in new entities that have no future outlook; an encore by Corporate thieves.

It is the biggest corporate theft tucked in well ironed clothes, briefcases and a sense of we know it all.

What Senseless Crap?