Here is a long and complicated story, but it exposes more criminal bank activity that caused billions in profits, all paid for and subsidized with our tax dollars. Corporate welfare so that bankers could illegally get billions in profits and then get a federal bailout to cover it up. These people should be in jail, not getting 100 million dollar bonuses..
Here is the longer version ...
Here is a shorter version for those of you in a hurry :)
And some people worry about some bum getting $100 a week in welfare to buy drugs.
How about drug tests for bankers eh.
And some people worry about some bum getting $100 a week in welfare to buy drugs.
ReplyDeleteWell JJ,
If you go back and look at the "lost decade of Japan"?
We pretty much followed that same path!
We left the "Bankers" the same people who caused the meltdown in Charge. (It wasn't all Bush!)
We can also go back and see the invovlement of both political parties Democrats (Clinton) and Republicans.
But in the end we are creating and importing poverty through our own Government. Its programs and policies!
There is now a whole bunch of bums wanting $100 a week and getting alot more!
True Capitalism works because it allows for failure! The things that don't work get replaced by those that DO! Only things like Government Involvement can prevent it from working its MAGIC of CREATIVE DESTRUCTION!
They just downgraded Ireland because of their Debt!
SOCIALISM DOES NOT WORK and neither does corruption in CAPITALISM! (Where the Government determines the winners and losers!)
From CNN:
ReplyDelete"It was not my intention to select 8-28 because of the Martin Luther King tie. It is the day he made that speech. I had no idea until I announced it," he said on his radio show in June, soon after the announcement of the rally.
"Whites don't own Abraham Lincoln. Blacks don't own Martin Luther King. Those are American icons, American ideas, and we should just talk about character, and that's really what this event is about. It's about honoring character," Beck said.
Alveda King, a niece of the late civil rights leader, also participated in the "Restoring Honor" rally, saying that her uncle would have approved of the event.
"If Uncle Martin could be here today, he would sure commend us of giving honor where honor is due," she told a large, cheering crowd.
King said earlier she's been accused of hijacking "the dream," but on CNN's "Anderson Cooper 360" on Friday night, she said "the dream" is in her genes.
"I don't have to reclaim the civil rights movement, I'm part of the civil rights movement," she said, noting her family's home and her father's church were bombed when she was younger. While the NAACP put out a cautious statement regarding the rally, there has been plenty of criticism of the event.
Lenny McAllister, an African American Republican, was asked by the Tea Party to speak at Saturday's rally but declined. He said the rally was disrespectful to the Rev. Martin Luther King, Jr.
"I cannot sit on stage and co-sign on this irresponsibility," he said. "I made sure I wore my elephant pin today. I am a proud Republican but I am also a proud African American man."
But Lloyd Marcus, another black Republican, said he supported Beck's efforts.
"Go Beck," he said. "This is a fantastic rally and the people there don't give a hoot about race."
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Of the two rallies in D.C. yesterday?
Who was seen as seeking unity and who wants to continue the division?
Let's check the facts.
ReplyDeletehttp://www.politifact.com/truth-o-meter/article/2010/aug/27/glenn-beck-faces-truth-o-meter/
Ok,
ReplyDeletehttp://www.politifact.com/personalities/barack-obama/
From a bloggers entry on a Yahoo Finance Article:
ReplyDeleteYou really had to live here (California, for example) to get it. I knew people who were buying condos right out of college, while paying off college loans in the process, while holding down jobs a $12 an hour. Protecting these people from those nasty sneaky banks. . . that's not who needed protection. They knew what they were doing. They bragged about it at the office, at dinner parties, anywhere they could.
Yes there were some folks who got snookered. But you cannot really cheat an honest person. You can't protect someone who is willing to say "Well, the agent said it was OK to misrepresent our income, didn't she?"
So, you really have missed out on the issue of the new borrowing restrictions passed by Congress. They aren't really supposed to protect the marginal buyer from mistakes and fraud. They are really supposed to protect the bank and the bank's depositors from the lying, cheating, greedy borrower who is gaming the system with the willing collusion of agents, appraisers, and bank executives. Making the bank confirm income, require a reasonable down payment, and do independent appraisals is hardly a hardship.
So, you really have missed out on the issue of the new borrowing restrictions passed by Congress.
ReplyDelete>>
What you are conveniently forgetting is that these restrictions were put in place during and after the great depression of the 1930s., to prevent excesses of banking practices.
These restrictions were removed in the 80s and 90s ... both dems and pubs went along with the banking industry on it .. and just like what happened in the 20s and 30s happened again.
"New" restrictions have not been put on. Restrictions that were removed - that had been preventing excess - were put back in place to try to stop the bleeding.
>>>>>>>>>>
Making the bank confirm income, require a reasonable down payment, and do independent appraisals is hardly a hardship.
These were things lenders did not want to have to do, and they got the rules removed ... and you see what happened....
Capitalism is great, but there must be restrictions. Greed is the downside of capitalism just as laziness is the downside of socialism. There have to be rules in place to keep the machinery running.
But you cannot really cheat an honest person.
ReplyDeleteI think that is whats missing all to often in America TODAY! Be it in Congress, Wall Street,
Corporate America, and even Main Street USA!
I think that is what Beck, Alveda King and others are trying to say!
Because the TRUTH will se you FREE!
AND
God is watching!
I dont know why you cant cheat an honest person.
ReplyDeletelooks to me like it would be easier to cheat an honest person because they might trust you.
a crook would be hip to all the con games, and more difficult to cheat.
just my two cents.