"There is an excellent correlation between giving society what it wants and making money, and almost no correlation between the desire to make money and how much money one makes." ~Dalio
After collecting repayments, dividends and proceeds from warrant sales, the government earned a 14 percent return on the $10 billion it gave Goldman Sachs Group Inc. and a 13 percent return on the $10 billion that went to Morgan Stanley. Both firms are based in New York
Bank Bailout Returns 8.2% Beating Treasury Yields - Bloomberg
True, but the FED is a quasi-government entity thus their actions are not directly regulated by the government. To be sure the FED needs to be abolished but TARP is not the reason.After TARP, the banks borrowed money at a below market Fed window rate, then were sold 2-year Government bonds at a higher rate.
And I care what Adam Carolla says because of what now?
"And in the end, we were all just humans, drunk on the idea that love, only love, could heal our brokenness."
As I've said time and again concerning the Occupy Movement, it's not just about a bunch of wiley-eyed college kids putting up peace symbols and looking for government handouts. Unfortunately, that's pretty much how the movement has been portrayed. It's sad really because there are alot of people who support the movement but aren't doing things in a disruptive manner. But the grandeur of violence and/or civil unrest is what makes news not the quite protestors who are able to articulate their message and are working within the law. You don't see those people making the 10 o'clock headlines. Take Monique's story, for example, an African American female living in Minneapolis, MN. From what I gathered from her video testimony, she wasn't even part of the Occupy Movement initially, but when her home went into foreclosure, she turned to the movement for help. Since there is no video of their march on her home, I can't tell you what how things have gone on since the video was posted. There's no follow-up footage to say what happened during or after her home was occupied or if it ever was, but the point is her message.
She wants to work. She wants to continue being responsible for her family. She's just asking for alot more cooperation from the bank which seemed to be following a very similar pattern of losing paperwork or selling mortgages which in turn forces homeowners seeking to modify their mortgages to start the paperwork process all over again. (Note: I listened to Sara's story, too, but since Monique's was more compelling as a family tragedy and she did seek the movement for assistance, I found her story to be more appropriate to the thread.)
It's real easy for much of America to look at this movement through the storylines and images placed on our televisions, but until you attend a rally or general assembly meeting or review online streaming videos that don't just show the protesters clashing with police or some ignorant young adult or homeless person who has no idea what the movement is about - they're just there saying or doing whatever - it's easy to paint the movement in a very broad brush. But then you see videos like Monique's and you're reminded what's truly at stake - family, personal pride, dignity, a sense of belonging, a sense of being able to make do on your own. Many people are struggling just as this woman is. I find it deeply troubling that her story has been co-opted by the stories of civil unrest we're starting to see more frequently about the movement, and it's really unfair to those who are truly trying to do the right thing but aren't being given a fair shake.
Last edited by Objective Voice; 12-06-11 at 01:10 PM.
TARP made limited interest on most loans because of the conditions setup by the Fed.
I supported Tarp from a pragmatic survival standpoint. But lets not kid ourselves, it was our Government taking extraordinary measures to save our economy, maintain our quality of life. A giant safety net, if you will. Moral hazard.
But these 'monsters' that Carolla (the less successful of the original man show duo) talks about... it's very disingenuous on his part and kind of strawman to focus only on OWS...
It would be nice if the OWS would clearly define what they want on a list rather than having a huge mob of people shout contrasting ideas. So far the most prominent I have seen are the members who think they are entitled to whatever they want but I recall an video that explained their goals in a much more reasonable light. Can't quite recall the name of it or else I would link it.
It is a man's reason that lifts him to the stars.