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Thread: Are Republicans/conservatives for a bailout, now?

  1. #31
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    Re: Are Republicans/conservatives for a bailout, now?

    Quote Originally Posted by ttwtt78640 View Post
    It was not quite that simple - most of those "troubled" mortgages were federally and/or privately insured. Not bailing out the banks and/or insurance companies left holding them was therefore not really an option.
    I doubt that is true. These were not savings accounts.

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    Re: Are Republicans/conservatives for a bailout, now?

    Quote Originally Posted by gdgyva View Post

    bailing out the banks was a necessity....it needed to happen to keep the world from falling into a depression
    NO. We were blackmailed by the banks. We, the taxpayers, rewarded them for being criminals. And, big surprise, they went right back to their sleazy tricks. And here we are again, about to crash. And bail them out again.

    Every time this happens, our society gets poorer and deeper in debt. While the big criminals get richer. This is a DISEASE and it has to stop. But it won't stop.

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    Re: Are Republicans/conservatives for a bailout, now?

    Quote Originally Posted by Good4Nothin View Post
    I doubt that is true. These were not savings accounts.
    Many were FHA insured which is how most low income folks are able to get mortgages with very low down payments.

    Federal Housing Administration Loan (FHA Loan) Definition

    What Is Mortgage Insurance? How It Works, When It's Required - NerdWallet
    “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

  4. #34
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    Re: Are Republicans/conservatives for a bailout, now?

    Quote Originally Posted by Felis Leo View Post
    I was against the stimulus package in 2008/2009 but I am for this stimulus now for the following reasons:

    The 2008/2009 stimuluses were aimed at helping major companies (mostly in the financial sector) that were in danger of closing due to their own mismanagement and overextension. Essentially, the government was engaged in fostering and rewarding moral hazard. Especially when the government only extended these low-interest loans to major financial institutions and giant corporations, and not to everyday small businesses or workers who were harmed by the financial crisis through no fault of their own.

    Here, meanwhile, the government is giving financial aid to people forced out of work and businesses forced to shutter due to social distancing orders put into effect by the states. In effect, when the government takes your job or your business from you, they should provide adequate and just compensation. I do not consider this a "bailout" any more than when a state or local government taking someone's home through eminent domain to put a new highway through and then paying them fair market value for the property should be considered a "bailout." When an otherwise law-abiding person is stripped of their ability to make a living by the government, the government must provide a remedy.
    Agreed in the aspect that the government should pay for the damages it did.

    However. This should be a state by state issue, and the states should pay. The governments of each state need to be accountable for it's actions. The federal government has done little if no damage by draconian measures, but should pay its part if it had.

    I suspect when this is done and over with, the payers of the states like mine, will find themselves out of office.

    This is our tax dollars. We are already enough in debt. We don't need to stop harming the economy.
    A Joe Biden type remark:

    "People are dying who haven't died before."

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    Re: Are Republicans/conservatives for a bailout, now?

    Quote Originally Posted by GreatNews2night View Post
    I basically agree.

    But you know why there is a high cutoff for getting free money, right? It's probably the main reason why Trump's popularity number jumped to an all-time high. People vote with their pockets. This is made clear by Trump's insistance that his signature must be on the checks. So, he's trying to reach as many people as possible with the high cutoff. Don't for a moment think that there isn't a political point being scored, here.
    Yep. You need to get a critical mass of voters to support the free cheese handout. That number of voters is much higher than there's any economic rationale for. Consider, we could have gotten just as much stimulus - maybe even more - if we'd made it $2000 for anyone making $37.5K and phasing out at $49.5K. Those people are hurting the most and would spend it the quickest. But only a minority make that little and it's much harder to get a critical mass of voters to support that.

    “A democracy is always temporary in nature; it simply cannot exist as a permanent form of government. A democracy will continue to exist up until the time that voters discover they can vote themselves generous gifts from the public treasury. From that moment on, the majority always votes for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse doe to loose fiscal policy, which is always followed by a dictatorship.” - Alexander Tyler
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    Re: Are Republicans/conservatives for a bailout, now?

    Quote Originally Posted by eman623 View Post
    “A democracy is always temporary in nature; it simply cannot exist as a permanent form of government. A democracy will continue to exist up until the time that voters discover they can vote themselves generous gifts from the public treasury. From that moment on, the majority always votes for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse doe to loose fiscal policy, which is always followed by a dictatorship.” - Alexander Tyler
    Impressive quote!

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    Re: Are Republicans/conservatives for a bailout, now?

    Quote Originally Posted by ttwtt78640 View Post
    It was not quite that simple - most of those "troubled" mortgages were federally and/or privately insured. Not bailing out the banks and/or insurance companies left holding them was therefore not really an option.
    They could of bailed out the home owners and auto-workers themselves instead...


  8. #38
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    Re: Are Republicans/conservatives for a bailout, now?

    Quote Originally Posted by Master Debator View Post
    They could of bailed out the home owners and auto-workers themselves instead...

    Yep, just let deadbeats live rent free and pay folks not to make cars (for life?) and all would be fixed.
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    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

  9. #39
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    Re: Are Republicans/conservatives for a bailout, now?

    It looks to me like almost no one believes in the global economic system, and that when it crashes debt will not matter, it will be evaporated.

    Its not going to go this way...who does not pay their debts is going to be looking at a degraded life under the new system, but for right now a large number of people consider debt to be free money.
    We are so screwed....ANNOUNCEMENT: Screwing Around Time is Officially Over.....It has to be.

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    Re: Are Republicans/conservatives for a bailout, now?

    Quote Originally Posted by ttwtt78640 View Post
    Yep, just let deadbeats live rent free and pay folks not to make cars (for life?) and all would be fixed.

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