View Poll Results: Should the "too big to fail" be nationalised?

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Thread: Should the "too big to fail" be nationalised?

  1. #51
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    Re: Should the "too big to fail" be nationalised?

    Quote Originally Posted by lizzie View Post
    No- they should be allowed to fail and cease to exist as business entities.
    Please see my post #43 on this thread.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: Should the "too big to fail" be nationalised?

    Quote Originally Posted by ttwtt78640 View Post
    Please see my post #43 on this thread.
    I agree wholeheartedly. That being said, I'm strictly an evolutionist.
    "God is the name by which I designate all things which cross my path violently and recklessly, all things which alter my plans and intentions, and change the course of my life, for better or for worse."
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    Re: Should the "too big to fail" be nationalised?

    There should never be a such thing as "too big to fail." That notion takes the risk out of business. If you fail as a business then your business is gone. That is what is supposed to happen. It is not the governments job to use tax payer money to prop up mistakes made by these businesses.

    We should trust a free market system a lot more then this centrally controlled flawed system. Anyone who opens a business accepts the risks that comes with it. We have proper bankruptcy protection laws, but that is as far as the help goes. If you fail, then you are out of business...end of story
    Libertarian and Atheist...wow I'm a hated man.

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    Re: Should the "too big to fail" be nationalised?

    Quote Originally Posted by Sig View Post
    Presumably, the government would take control long before the company began to fail, while it was still healthy and functional. This would be the point.
    Oh, so it WOULD be like Chavez. The government takes control of companies that are making money.
    TANSTAAFL

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    Re: Should the "too big to fail" be nationalised?

    Quote Originally Posted by ttwtt78640 View Post
    WRONG. The notion of "sub-prime" mortages was NOT invented by bankers, it was a gov't creation to attempt to allow the "poor" to become homeowners. Bankers reluctantly issued these "gifts", disguised as "low income" mortgage loans, ONLY through gov't pressure and offers of "safety" by the gov't backed "insurance" of these loans. This GOV'T CREATED artificial demand, for more private homes, caused the "housing bubble", having the (unintended?) effect of flooding the market with oversupply, eventually dropping the value of many existing homes on the resale market, placing otherwise innocent home buyers in a position of being "underwater" on their traditional home mortgages.
    You are quite correct.

    Furthermore, ACORN...and other community activist organizations...were the fist the government used to persuade the banks to play the game...against the bank's better judgment.
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  6. #56
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    Re: Should the "too big to fail" be nationalised?

    Too big to fail should not exist. If they fail, they fail.
    From the ashes.

  7. #57
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    Re: Should the "too big to fail" be nationalised?

    Quote Originally Posted by ttwtt78640 View Post
    WRONG. The notion of "sub-prime" mortages was NOT invented by bankers, it was a gov't creation to attempt to allow the "poor" to become homeowners. Bankers reluctantly issued these "gifts", disguised as "low income" mortgage loans, ONLY through gov't pressure and offers of "safety" by the gov't backed "insurance" of these loans. This GOV'T CREATED artificial demand, for more private homes, caused the "housing bubble", having the (unintended?) effect of flooding the market with oversupply, eventually dropping the value of many existing homes on the resale market, placing otherwise innocent home buyers in a position of being "underwater" on their traditional home mortgages.
    That's not what crashed it. Those were subsidized through the government and the banks made money on it. There's a reason they were lying on application forms to get those sorts of loans through. If they were losing money, they wouldn't have engaged in just aggressive predatory loan actions as they did for those.
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    Re: Should the "too big to fail" be nationalised?

    Quote Originally Posted by ttwtt78640 View Post
    Please see my post #43 on this thread.
    Banks aren't the only ones that got bail outs.
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  9. #59
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    Re: Should the "too big to fail" be nationalised?

    Quote Originally Posted by Lokiate View Post
    Banks aren't the only ones that got bail outs.
    I agree, many other politically popular entities, like those using union labor (auto industry and state/local gov'ts), got included in the spending binges known as TARP and the "stimulus" packages, but the initial justification for this economic madness was mostly the mess caused DIRECTLY BY the "housing bubble" popping and the economic instability created by "sub-prime" mortgages; without that factor much of the rest would never have happened, as it was neither the emphasis of nor the largest part of the bail-out/stimulus craze.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

  10. #60
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    Re: Should the "too big to fail" be nationalised?

    The government repealed the Glass-Steagall Act through the Gramm-Leach-Bliley Act in 1999 by President Bill Clinton and allows commercial banks to gamble and speculate with depositors money like the investment banks. With the blessing and help of Fannie Mae and Freddie Mac by taking on more risk moving into the subprime mortgage market. The government encouraged all this lending, not because they're altruistic and wanted everyone to have homes but because increased sales from credit improves revenue by stimulating the economy giving them more money to spend. The SEC allowed the Credit Rating Agencies (Moody's, Standard & Poor and Fitch) to give AAA+ ratings to securities that were junk mixed 50/50, so that banks could sell the repackaged mortgages to investors knowing that 1/2 would default. Those securities as is custom were insured by companies like A.I.G. to the tune of trillions and even the insurance policies were sold as investments. When the inevitable occurred and markers were called in on foreclosures there was a liquidity crisis causing a chain effect that rippled thru the markets threatening to crash the worlds economies. If the US government had not stepped up with the bailouts there would of have been a collapse of the financial system as we know it. All those future sales on homes and other items (cars, ATV's, boats, motorcycles, RV's, jet ski's, snow mobiles, etc) from easy credit created a ton of toxic paper, wealth that evaporated over night from over valuating the markets and their assets.

    The credit bubble has run the economy for over a decade now and had to be re-propped up but it's starting to sink again because it's a flawed concept.
    Einstein, "science without religion is lame, religion without science is blind."

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