So personal responsibility has no blame in this? Sorry, I don't need the Government telling me life matters, I can do that on my own. If people can't then they are responsible for their actions.
Trump's valet gets Covid-19? How does the person closest to President get it? He's the closet man to the president.
Not according to Republicans if you were involved in fanny Mae, Freddie Mac AIG, general motors Bank of America, JP Morgan Chase, Wells Fargo, GMAC, Chrysler, Goldman Sachs, Morgan Stanley PNC, US Bank Wok, SunTrust,.....should i keep going?
Every one or the banks/insurance companies paid back Tarp money with interest. And many of those companies were told they >Had to< borrow the the money from the government to not stigmatized the v industries. Btw- did you ever wonder where the failed banks went? That's right big banks were also forced to acquire the problems of failed banks and the fines (countrywide, Wachovia, Lehman, WaMu, ET al) that went with them. Fannie & Freddie become GICs (gov owned bastadizations like Amtrak and USPS). Again, my opinion was they should not done Tarp/talf. I was called a barbarian...
The issue is where all the profits went leading up to the need for a bail out. Sent from my SM-G950U1 using Tapatalk
Public companies, well that's public record. Shareholders, expenses, and fat paychecks for some. The bailouts weren't about the bank deposits/liabilities, not really about their operations, it was about the derivatives, bad models, bad lending, bad ratings, available investment money and a recession that started the implosion. Read "The big short" by Michael Lewis (not the movie) quick read and pretty close to many issues. The interest paid went to The Treasury. Fines, generally to consumer programs and more government (cfpb)
Because some uneducated welfare hoe collects checks and gets subsidized abortion she is held up and rightly so as a drain on society. However a Lehman Brothers director rapes his company for years and then gets a government subsidize bail out, gets pass and cheap loan. Thats the RNC way. Reverse it for the DNC. Different parties same end result. And its all allowed to happen because both parties have their mindless tribalistic fan clubs waiting to carry their water.
Read it already. All those Bad derivatives had front end profits loaded on them, No amount of relayed tarp and interest negates that.
Not necessarily all front end profits. Those last (investors) left holding the cdo/cds/mbs were the ones most impacted by (financial) losses. Those that couldn't afford homes I. E 30k income with a 1m home in California) bought using stupid products like interest only (or less) mortgages where debit to income ratios ignored, they had no skin in the game, and intended to flip the house - they lost property. You tax payer lost as you're paying for Fannie & Freddie. But you not funding/backing mortgages. Shareholders of failed companies lost and employees of same lost. Not nearly enough people went to jail, IMHO, but only because legal cases couldn't be made for individuals. Congress did little, likelt parties on both sides of the aisle complicit... Yet financial services is still, (I think) the second most regulated industry, behind nuclear.
