I agree, here will be the chant when things don't improve after we spent 8 trillion.
Just think how bad it would have been if we did nothing.
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The second 350B in TARP has been blocked
- Thread starter Aaron Copland
- Start date
I agree, here will be the chant when things don't improve after we spent 8 trillion.
Just think how bad it would have been if we did nothing.
Actually, the people who want the banks to get the TARP money:
1. Like socialism/communism
2. Don't believe in free markets
3. Believe in rewarding failure
AGREE!
The rest of you clowns, pull your head from outa your Arse. Do you really believe that the TARP money is going to save the country? Did you not just read Fith Third Banks report. That "Banks are not leading but hoarding the cash".
The "Depression" will have to take its course. Nothing anyone can do to "Stay" it off.
1. Like socialism/communism
2. Don't believe in free markets
3. Believe in rewarding failure
AGREE!
The rest of you clowns, pull your head from outa your Arse. Do you really believe that the TARP money is going to save the country? Did you not just read Fith Third Banks report. That "Banks are not leading but hoarding the cash".
The "Depression" will have to take its course. Nothing anyone can do to "Stay" it off.
Quote from itsame:
They will eventually pass the TARP money through.
The guest yesterday on Fast Money said it the best.
The people who don't want these banks to get money
1. Have never been a banker or part of the financial world and they don't know how banks actually work
2. Have no idea about economics
3. Saying no because of politics
TARP money will get doled out..Banks will be on solid footing...the public will trust them again and Obama will get his money back the way he wanted in the first place. Higher taxes.
Since you feel this way and are soooo smart, why don't you go ahead and donate your earnings to TARP, making those who oppose it not liable.
The only people I know who support this are:
1) Getting a piece of the bailout
2) Scared morons who have no clue about anything and trust mainstream media to tell them what to think (Hmm sounds like you)
Quote from Anaconda:
Since you feel this way and are soooo smart, why don't you go ahead and donate your earnings to TARP, making those who oppose it not liable.
The only people I know who support this are:
1) Getting a piece of the bailout
2) Scared morons who have no clue about anything and trust mainstream media to tell them what to think (Hmm sounds like you)
1. Every American is getting a piece of the bailout. This Tarp money is keeping countless of people in jobs that would otherwise disappear. (I'm not saying no one is losing their jobs right now)
2. "Scared Morons" are the people who listen to the media and say TARP is a bad thing and that they are using taxpayer's money. Remember that the depression happened when the government stopped giving money out and let companies fail.
3. I already give my hard earned money to the TARP. Because I pay taxes. You said you would like to just have "morons" give money "Making those who oppose it not liable". Hahaha thats hilarious. Sorry, but this is a country of over 300MM people. If you want to opt out, you can move.
Quote from itsame:
They will eventually pass the TARP money through.
The guest yesterday on Fast Money said it the best.
The people who don't want these banks to get money
1. Have never been a banker or part of the financial world and they don't know how banks actually work
2. Have no idea about economics
3. Saying no because of politics
TARP money will get doled out..Banks will be on solid footing...the public will trust them again and Obama will get his money back the way he wanted in the first place. Higher taxes.
I thought the way Banks worked was when they make a bunch of bad loans they went out of business. I didn't know they just got fresh money from the government.
Quote from jficquette:
I thought the way Banks worked was when they make a bunch of bad loans they went out of business. I didn't know they just got fresh money from the government.
That is my point. Many people don't know how banks work.
When banks make bad loans they never go out of business. They just get acquired by another bank that is healthier. Thats what people don't realize, they think banks go out of business like your mechanic down the street.
They don't. A stronger more capitalized bank takes it over just like insurance companies. Because there are not many banks that can do this in this environment, the government is helping the "strongest banks" take over the weaker ones
A great way to think about this is to think of it this way
Bennigans
1. its fails
2. everyone gets fired
3. things get sold at fire sale prices
Circuit city
1. it fails
2. everyone gets fired
3. things get sold at fire sale prices
Linen N' Things
1. it fails
2. everyone gets fired
3. things get sold at fire sale prices
This is unlike banks
1. it fails
2. Top executives get let go
3. everyone else is retained
4. it literally closes on Friday...gets acquired that night and reopens on Monday as a branch of a stronger bank
Bennigans
1. its fails
2. everyone gets fired
3. things get sold at fire sale prices
Circuit city
1. it fails
2. everyone gets fired
3. things get sold at fire sale prices
Linen N' Things
1. it fails
2. everyone gets fired
3. things get sold at fire sale prices
This is unlike banks
1. it fails
2. Top executives get let go
3. everyone else is retained
4. it literally closes on Friday...gets acquired that night and reopens on Monday as a branch of a stronger bank