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Thread: The 1% will own more than the 99% by 2016, report says

  1. #641
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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by Papa bull View Post
    The mortgage defaults were absolutely the cause. When the housing prices crashed, millions of people walked away from their mortgages and stuck the banks with their losses. It was so much so fast that even the biggest financial institutions reeled from the losses. The sub-prime mortgage orgy set it up. The homeowners walking out on their mortgages en masse triggered it. And the credit default swaps sent the shock waves through every corner of the globe and the financial markets.
    Right, but it was the massive institutions realizing that they were on the wrong side of these trades and getting crushed by margin calls that set off the biggest chain of events.

    How many of these banks go down if they are not all overstocked on these bad securities?
    Ted Cruz is the dumbest person alive.

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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by ludin View Post
    this folks is liberal logic at it's finest.

    nope not making stuff up at all. if liberals spent less time ranting about the 1% and more time working and doing stuff then they would be in the 1% as well.
    That's not liberal logic... it's the truth. There is no attribute other than his income keeping him from qualifying for those programs.

    There are a lot of programs that I don't use that I understand need to be funded. I don't bitch about it, because I'm not childish.
    Ted Cruz is the dumbest person alive.

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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by Papa bull View Post
    Loans with interest aren't handouts. You act like the government isn't profiting off this. Hell, the government is charging the banks a higher rate of interest on those loans than the banks charged for the mortgages they got stuck with. Why don't liberals know that handouts and loans are different because loans must be paid back? If everyone understood that loans must be repaid, we might not have had a financial crisis due to all the deadbeats shrugging their shoulders instead of fulfilling their obligations.
    If they weren't handouts, why did they need to run to the government and not get a nice $45 Billion loan on the "free market?" Why'd they need the Fed to bail them out of their litigation with AIG?

    I really don't understand why a so-called conservative is defending crony capitalism and bailouts of private industry by their government lackeys. It's pretty stunning, really. And then to shift the blame for the BANK failures to borrowers is also quite something. Last I heard, one of the first rules of lending is to not lend to deadbeats. Instead, these guys were BEGGING deadbeats to take their money, and so they did. You'd make a good CEO of a bank. "It's someone else's fault - please pay me $10 million!"

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    The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by whysoserious View Post
    Right, but it was the massive institutions realizing that they were on the wrong side of these trades and getting crushed by margin calls that set off the biggest chain of events.

    How many of these banks go down if they are not all overstocked on these bad securities?
    I don't think you understand what really happened. The bad "securities" were homes they couldn't sell for enough to cover the defaults. And AIG insured them and those swaps were all over the world. If AIG was allowed to go bankrupt, the swaps would have become worth exactly zero and then the damage is global and unrecoverable. Loan AIG and other institutions enough to cover their obligations and the crash doesn't hit the whole world (and pensions and retirement plans for everyone). And the thing is.... All those financial instruments made sense and would never have been a problem in any normal circumstances.

    But circumstances weren't normal. People bought into the idea that a home will only go up in value and so they bought whatever they could at any price asked and felt all fat and happy. The market overheated and housing prices dropped and now they're not so happy and figure that since they paid more than the house is worth, they just walk, take the credit hit and stick the banks (and ultimately, all the rest of us) with the losses. THAT was the basis of the crash.
    You can't reason anyone out of a position they didn't reason themselves into in the first place.

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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by TurtleDude View Post
    BFD-the wealthy receive THE LEAST value for each tax dollar they pay. The wealthy pay more actual dollars and get NOTHING extra in return

    You all forget about that all the time
    Get nothing in return. Goodness, where do you make this stuff up? GE gets nothing from a massive military protecting $billions in investments overseas? Wow, that's surprising! They get nothing in return from stable currency, a banking system that didn't collapse and take out their massive leveraged positions in leasing? They get nothing from the $billions in government contracts? Social stability? Roads, ports, airports? An education system that trains their workers for free? GE never goes to court? Transfer payments don't make their refrigerators affordable to more customers?

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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by JasperL View Post
    If they weren't handouts, why did they need to run to the government and not get a nice $45 Billion loan on the "free market?" Why'd they need the Fed to bail them out of their litigation with AIG?

    I really don't understand why a so-called conservative is defending crony capitalism and bailouts of private industry by their government lackeys. It's pretty stunning, really. And then to shift the blame for the BANK failures to borrowers is also quite something. Last I heard, one of the first rules of lending is to not lend to deadbeats. Instead, these guys were BEGGING deadbeats to take their money, and so they did. You'd make a good CEO of a bank. "It's someone else's fault - please pay me $10 million!"
    You really don't know the difference between a loan and a handout. That explains a lot.
    You can't reason anyone out of a position they didn't reason themselves into in the first place.

  7. #647
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    Re: The 1% will own more than the 99% by 2016, report says

    The banks should have been allowed to fail. They made bad choices in loaning past the secured values. The principle of it would keep it from occurring again.

    Gamblers should not be given back their losses.

    As for a loan to banks? How many never repaid it?

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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by JasperL View Post
    Get nothing in return. Goodness, where do you make this stuff up? GE gets nothing from a massive military protecting $billions in investments overseas?
    Wow. You really do think the purpose of the military is to be global corporate security guards. That explains a lot.
    You can't reason anyone out of a position they didn't reason themselves into in the first place.

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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by Lord of Planar View Post
    The banks should have been allowed to fail. They made bad choices in loaning past the secured values. The principle of it would keep it from occurring again.

    Gamblers should not be given back their losses.

    As for a loan to banks? How many never repaid it?
    I tend to agree. I do believe things would have been much, MUCH worse if we hadn't bailed out AIG and a few of the other big players. But maybe we needed to feel the pain a little more. As it stands, I'm not sure we learned a damn thing. I know a lot of people on this thread certainly didn't , anyway.
    You can't reason anyone out of a position they didn't reason themselves into in the first place.

  10. #650
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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by JasperL View Post
    Get nothing in return. Goodness, where do you make this stuff up? GE gets nothing from a massive military protecting $billions in investments overseas? Wow, that's surprising! They get nothing in return from stable currency, a banking system that didn't collapse and take out their massive leveraged positions in leasing? They get nothing from the $billions in government contracts? Social stability? Roads, ports, airports? An education system that trains their workers for free? GE never goes to court? Transfer payments don't make their refrigerators affordable to more customers?
    you DISHONESTLY quoted what I said

    i said I GET NOTHING EXTRA in return for all those tax dollars forced out of them



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