253 replies to this topic

[thefuzz]

Wow, this has really escalated quickly.

[BBQ&Beer]

I'm talking about the individuals, not the states as a whole, not the legislatures ... the individuals.

I am too. If those states have to reimburse the Feds for everything the feds subsidized, and/or replace everything the Feds take back, you think taxes are gonna drop for them?

[thefuzz]

I am too. If those states have to reimburse the Feds for everything the feds subsidized, and/or replace everything the Feds take back, you think taxes are gonna drop for them?

It's called personal responsibility.

If the people didn't think that the government was there to bail them out, do you think that folks would be a little more prepared?

[BBQ&Beer]

It's called personal responsibility.

If the people didn't think that the government was there to bail them out, do you think that folks would be a little more prepared?

So taxes only go to the government bailing people out?

[mmmbeans]

I think you take a lot for granted, and thinking you know what really is going on in people's minds is quite arrogant.

to be fair, this shiat is quite cyclical and consistently stupid... regardless of who wins the elections.

[Panthro]

It's called personal responsibility.

If the people didn't think that the government was there to bail them out, do you think that folks would be a little more prepared?

You are in the housing industry, no?

[twylyght]

allow me to go ahead and play this one out for you. housing industry bailed out. hypocrite!

only government decided to change the market to push bad lending practices, and then blamed those institutions after being compelled to lend said bad investments.

[Panthro]

It was greed that led to it. Greed on the lenders and the lendees.

They got bailed out. They gave incentives to buy homes.

But those welfare queens and their cellphones...


Lets secede!

[twylyght]

It was greed that led to it. Greed on the lenders and the lendees.

They got bailed out. They gave incentives to buy homes.

But those welfare queens and their cellphones...


Lets secede!

you are correct that it was greed that led to it. however, it was greed on capital hill for voting blocks rather than what you assert. were it merely greed done through lending practices, the market would have killed those institutions in short order. however, since the notion of "too big to fail" arose, bad lending practices continue today... we just think we can inflate the bubble indefinitely.

the discipline of failure will be on a national scale instead of an individual business scale. the failures of the few will bring us all down

[thatlookseasy]

you are correct that it was greed that led to it. however, it was greed on capital hill for voting blocks rather than what you assert. were it merely greed done through lending practices, the market would have killed those institutions in short order

If by "the market would have killed those institutions in short order" you mean, "those institutions would have just bundled the bad loans into derivatives which could be sold off easily thanks to the AAA credit ratings given to them by the market" then yes

[thefuzz]

It was greed that led to it. Greed on the lenders and the lendees.

They got bailed out. They gave incentives to buy homes.

But those welfare queens and their cellphones...


Lets secede!

It's both man. Why do you guys struggle to see this?

Without Freddie and Fannie, none of this could have happened. Meaning, without the federal government being involved in banking and housing, this would not have happened.

[thefuzz]

You are in the housing industry, no?

Yup, and I would have preferred to not have any boom, and not have the bust that followed.

[twylyght]

If by "the market would have killed those institutions in short order" you mean, "those institutions would have just bundled the bad loans into derivatives which could be sold off easily thanks to the AAA credit ratings given to them by the market" then yes

okay... let's put it like this. did the creation of fannie and freddie predate said bad lending practices? no? where are those banking institutions now? THAT'S RIGHT! they don't EXIST anymore! after fannie and freddie? well we'll just use the public coffers, fiat currency, and future IOUs to cover that little snafu

[rodeo]

I think you take a lot for granted, and thinking you know what really is going on in people's minds is quite arrogant.

Wow, Rodeo arrogant, news at 11.

Meanwhile I'm still yet to hear an actual reason besides vague bullshit like "freedom" so the point still stands.

[twylyght]

Wow, Rodeo arrogant, news at 11.

Meanwhile I'm still yet to hear an actual reason besides vague bullshit like "freedom" so the point still stands.

if freedom is bullshit to you, then perhaps you aren't paying attention