No Bailing Out the Wealthy

[efflux]

Reagan scuppered a lot of the globalists plans. Notice how there was an attempted assassination and Guess who would have taken over. George Bush senior. Son of the Hitler financier. These people are sewer rats.

[rcallicotte]

http://www.washingtonpost.com/wp-dyn/content/article/2008/10/09/AR2008100902953.html

Itsy bitsy control issues?  Not enough Cymbalta? 

[PG]

That's a weird story. Pervert spies
The trouble with the bailouts is they're designed to absolve the subprime mortgages which have been haunting the banking system. Trouble is, we've no idea who holds them so unless banks start lending to each other the money is simply extra capital for whichever banks hold it. The stock market gives us an indication of the health of the economy but it isn't the area to target a solution as some think. Places in the City have begun plans to encourage people to start buying stocks, but that's not the issue, the issue is that people see a bank having trouble and pull out stocks. The rest of the market sees stocks being pulled out of banks and panics. We need to put a clause on these bailouts. Lend to each other and if you're in serious trouble then this money will help you out. However if you use it then you'll have to pay it back with interest later.

[efflux]

Insane plans will be cooked up over the weekend.

[Kevin F]

Here's a highly relevant and prophetic take on recent issues:


http://www.flixxy.com/subprime-mortgage-loans.htm

[efflux]

The pathetic thing is that you'd learn more from that sketch than a news item on the topic. Governments actually encouraged these subprime mortgages as well.

Also, this should never have been repealed:

http://en.wikipedia.org/wiki/Glass-Steagall_Act

and there should have been a recession after 9/11 not because of 9/11 but because a recession was imminent. It would not have been serious but people were told to keep spending and interest rates were kept low.

[PG]

Those two are brilliant. I go to every Bremner, Bird and Fortune show. And it echoes what I said here, http://forums.planetside.co.uk/index.php?topic=4849.30
I really don't know where to be on the idea of government control of the markets though. I mean, we know that if markets are left unteathered they go crazy with money as if it's candy but as we saw in Thatchers and then Clintons days, removing government control actually allows the economy to explode with prosperity.

[efflux]

The market has to be as free as possible but with regulations that stop the blow out and gets more transparency. There was government interference in the market as well. They wanted to encourage lending to those who couldn't afford it. Both government and banks are responsible but the banks are worse culprits since they have power over governments demonstrated by the US style bail out and banking coup.

The trouble is, who is going to lead things next. McCain and Palin are disaster in my opinion. To think that Palin could be second in line to US president is frightening. Obama seems the lesser evil. That's all we have to pray on - that Obama will listen to the right people because he doesn't seem like a strong enough leader to me. It depends on what Bush does as well. Who knows what crazy plans are being devised. Cheney doesn't seem to be rearing his head lately. He is really the worst politician possible.

[efflux]

The world needs to comprise of sovereign nation states who agree about how to regulate the system from their elected leaders. This EU, North American Union, Asian Union superstate nonsense with organizations like the IMF, world bank etc dictating things is absolutely no good. It is part of a fascist banking plan where there are no nations just a bunch of bankers controlling everything with no opposition. The rest of us will of course will be living in kind of system that makes communism look good.