Too big to fail?

graphicgr8s · 04-06-2010, 06:06 AM

So if this bill passes if the treasury determines a company is failing it can take it over and there is no legal options to stop it. So what industry will be next in line for government takeover? They've got banking, they'll have the entire financial sector without any chance for redress, they have healthcare, and they have major industry. Hmm, is Hugo Chavez leading the U.S.?

http://www.csmonitor.com/Money/ThinkMarkets/2010/0319/Dodd-financial-reform-bill-goes-too-far

Rupert · 04-06-2010, 06:26 AM

So did you ever do any reading on the Big Crash George? Did anyone ever tell you how much Middle Class wealth was lost when your Fat Cats on Wall Street crooked away almost three Trillion dollars of American wealth from hard working families, some about to retire that lost everything because of their lies and scams? Anyone ever bring that to you attention George? Do you honestly think that the Fat Cats will now have our interest in mind in future decisions with our money?
Sure, I would love to see Wall Street and Giant Corporations regulate themselves, but it hasn't happened......at this very moment they are playing the same games that brought us destruction just a few short months back. Why don't you break free of that collar and chain and admit that your boys are crooks that need some tight controls to keep them from bankrupting our entire economy for their own greed....like they just did. You can regulate Government with your vote.......how is it you propose to regulate cut throat Wall Street hucksters by letting them regulate themselves?
Regards!

Parallax · 04-06-2010, 06:26 AM

Originally posted by graphicgr8s

So if this bill passes if the treasury determines a company is failing it can take it over and there is no legal options to stop it. So what industry will be next in line for government takeover? They've got banking, they'll have the entire financial sector without any chance for redress, they have healthcare, and they have major industry. Hmm, is Hugo Chavez leading the U.S.?

Dodd financial reform bill goes too far / The Christian Science Monitor - CSMonitor.com

All utilities next, followed by (in order) food, clothing, petroleum. I put petroleum last as once they take it over there won't be an profit in it so individual politicians' personal income will suffer.

GeneV · 04-06-2010, 06:30 AM

Originally posted by Parallax

All utilities next, followed by (in order) food, clothing, petroleum. I put petroleum last as once they take it over there won't be an profit in it so individual politicians' personal income will suffer.

Most utilities and many banks have been largely run by the government for many, many years. There was some loosening of that in the 90s, but the jury is still out on how well that worked.

Nesster · 04-06-2010, 06:41 AM

The Domino Theory is a nice scare tactic - if we allow (an argualbly reasonable) A, then B, C and D (all arguably unreasonable) are sure to follow. It however avoids looking at the actual issue, and goes straight to the lizard brain.

Another view of this lap-dog bill,
Op-Ed Columnist - Making Financial Reform Fool-Resistant - NYTimes.com

Of course, the current Prez isn't a constitution scoffer and power usurper like the previous one. But the danger is there.

Re. Lehmann, the financial sector is still working out and unwinding the various deals left over. To think that the government is able to step in and do so quicker, and with less market turmoil (read: large drops in prices as the stuff is sold, affecting the next bank and the next), is rather silly. Also, it is in those fat cat's interest to keep financials un-nationalized, so the teeth of this proposed "reform" are hard to see. The main benefit is that the people running these companies are mainly concerned with the size of their bonuses - it's the only way they can keep score on Wall St. - and any government intervention will make said bonuses vanish. Of course the thousands of people working for the financials, and not making the big bucks, will be out of work...

Parallax · 04-06-2010, 06:45 AM

Originally posted by GeneV

Most utilities and many banks have been largely run by the government for many, many years. There was some loosening of that in the 90s, but the jury is still out on how well that worked.

So the program is on track, then.

Green_Manelishi · 04-06-2010, 06:49 AM

Originally posted by Nesster

Of course, the current Prez isn't a constitution scoffer and power usurper like the previous one. But the danger is there.

You cannot be serious. The current prez (along with the moonbats Pelosi and Reid) is even more of a COTUS scoffer and power usurper than the previous president. But if you drink his KoolAid you'll follow him into death.

deadwolfbones · 04-06-2010, 06:54 AM

Originally posted by Green_Manelishi

You cannot be serious. The current prez (along with the moonbats Pelosi and Reid) is even more of a COTUS scoffer and power usurper than the previous president. But if you drink his KoolAid you'll follow him into death.

Rupert · 04-06-2010, 06:59 AM

Apparently none of you guys read the part about the three Trillion in losses to mostly Middle Class Americans? Could it be that none of you had anything invested....like say your retirement funds? Have the Fat Cats promised you that "you are special", and they will put a mark over your door so as they pass by the next time delivering economic destruction, they will not come inside and empty your Piggy Bank?
It is not that these guys were crooks...it is that they ARE crooks, just lurking for another opportunity to strip us again. The kind of reform we need is not coming, the power has been removed from Govt by the Supremes and given to the Corporations and Wall Street........you guys will soon see how that works out for you. We no longer will elect politicians, they will just be appointed by the highest bidder....sort of like now, but on steroids.
Regards!

Jodokast96 · 04-06-2010, 07:07 AM

They can't take it from you if you don't give it to them. You do have a choice in that. Not so when it comes to paying the tax man. People gambled and lost.

causey · 04-06-2010, 07:21 AM

Originally posted by Jodokast96

They can't take it from you if you don't give it to them. You do have a choice in that. Not so when it comes to paying the tax man. People gambled and lost.

And you'll put your money under the pillow, because it's safe there. Or maybe buy a couple of houses. But... wait! They can take money from you even if you don't give it to them. It's called "inflation", or, more generally, "devaluation of goods." Greed balloons.

Parallax · 04-06-2010, 07:24 AM

Originally posted by Rupert

................
It is not that these guys were crooks...it is that they ARE crooks, just lurking for another opportunity to strip us again. The kind of reform we need is not coming, the power has been removed from Govt by the Supremes and given to the Corporations and Wall Street........you guys will soon see how that works out for you. We no longer will elect politicians, they will just be appointed by the highest bidder....sort of like now, but on steroids.
Regards!

Geez, I hate it when you're right.
(fortunately it doesn't happen all that often.

)

Green_Manelishi · 04-06-2010, 07:28 AM

Originally posted by Rupert

Apparently none of you guys read the part about the three Trillion in losses to mostly Middle Class Americans? Could it be that none of you had anything invested....like say your retirement funds? Have the Fat Cats promised you that "you are special", and they will put a mark over your door so as they pass by the next time delivering economic destruction, they will not come inside and empty your Piggy Bank?
It is not that these guys were crooks...it is that they ARE crooks, just lurking for another opportunity to strip us again. The kind of reform we need is not coming, the power has been removed from Govt by the Supremes and given to the Corporations and Wall Street........you guys will soon see how that works out for you. We no longer will elect politicians, they will just be appointed by the highest bidder....sort of like now, but on steroids.
Regards!

Were any of these losses the result of the moron Bahney Fwank forcing banks to loan money to folks with no proven ability to pay? Of course, the banks then sell the risk to someone stupid, or greedy, enough to assume the risk because in their greed they are convinced they cannot lose and will make lots of $$$. The ponzi-schemers alsoo capitalize on the greed of "investors" who are looking for a "sure thing". There's plenty of blame to go around but the government is hardly the proper watchdog; that's like asking fox to guard the henhouse.

Nesster · 04-06-2010, 07:36 AM

Originally posted by Green_Manelishi

Were any of these losses the result of the moron Bahney Fwank forcing banks to loan money to folks with no proven ability to pay? Of course, the banks then sell the risk to someone stupid, or greedy, enough to assume the risk because in their greed they are convinced they cannot lose and will make lots of $$$. The ponzi-schemers alsoo capitalize on the greed of "investors" who are looking for a "sure thing". There's plenty of blame to go around but the government is hardly the proper watchdog; that's like asking fox to guard the henhouse.

This is an interesting take on what actually happened. Interesting, but not very reminiscent of actuality.

Green_Manelishi · 04-06-2010, 07:45 AM

Originally posted by Nesster

This is an interesting take on what actually happened. Interesting, but not very reminiscent of actuality.

No banks made bad loans? No "investors" yielded to simple greed? No risk was repackaged and sold downstream? Oh, please.

Do tell what was the problem?

04-06-2010, 06:06 AM	#1
graphicgr8s Guest	Too big to fail? So if this bill passes if the treasury determines a company is failing it can take it over and there is no legal options to stop it. So what industry will be next in line for government takeover? They've got banking, they'll have the entire financial sector without any chance for redress, they have healthcare, and they have major industry. Hmm, is Hugo Chavez leading the U.S.? http://www.csmonitor.com/Money/ThinkMarkets/2010/0319/Dodd-financial-reform-bill-goes-too-far

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Which lenses are known to SDM fail?	axl	Pentax SLR Lens Discussion	23	01-31-2010 02:06 PM
Pentax PEF and Apple MAC FAIL!	schmik	Digital Processing, Software, and Printing	44	01-29-2010 01:29 PM
The Emperor's New Clothes - Canon 7D FAIL	superfuzzy	Canon, Nikon, Sony, and Other Camera Brands	41	11-19-2009 07:03 AM
Well damn. ME Super fail :(	Volvo244T	Film SLRs and Compact Film Cameras	7	06-01-2009 10:15 PM
K10D durability in pro conditions = fail	Gregory	Pentax DSLR Discussion	104	01-21-2008 05:14 AM

04-06-2010, 06:26 AM	#2
Rupert Veteran Member Join Date: Sep 2006 Location: Texas Photos: Gallery \| Albums Posts: 25,123	So did you ever do any reading on the Big Crash George? Did anyone ever tell you how much Middle Class wealth was lost when your Fat Cats on Wall Street crooked away almost three Trillion dollars of American wealth from hard working families, some about to retire that lost everything because of their lies and scams? Anyone ever bring that to you attention George? Do you honestly think that the Fat Cats will now have our interest in mind in future decisions with our money? Sure, I would love to see Wall Street and Giant Corporations regulate themselves, but it hasn't happened......at this very moment they are playing the same games that brought us destruction just a few short months back. Why don't you break free of that collar and chain and admit that your boys are crooks that need some tight controls to keep them from bankrupting our entire economy for their own greed....like they just did. You can regulate Government with your vote.......how is it you propose to regulate cut throat Wall Street hucksters by letting them regulate themselves? Regards!

04-06-2010, 06:26 AM	#3
Parallax Senior Moderator Loyal Site Supporter Join Date: Apr 2008 Location: South Dakota Photos: Gallery Posts: 19,332	Originally posted by graphicgr8s So if this bill passes if the treasury determines a company is failing it can take it over and there is no legal options to stop it. So what industry will be next in line for government takeover? They've got banking, they'll have the entire financial sector without any chance for redress, they have healthcare, and they have major industry. Hmm, is Hugo Chavez leading the U.S.? Dodd financial reform bill goes too far / The Christian Science Monitor - CSMonitor.com All utilities next, followed by (in order) food, clothing, petroleum. I put petroleum last as once they take it over there won't be an profit in it so individual politicians' personal income will suffer.

04-06-2010, 06:30 AM	#4
GeneV Veteran Member Join Date: Oct 2008 Location: Albuquerque NM Photos: Albums Posts: 9,830	Originally posted by Parallax All utilities next, followed by (in order) food, clothing, petroleum. I put petroleum last as once they take it over there won't be an profit in it so individual politicians' personal income will suffer. Most utilities and many banks have been largely run by the government for many, many years. There was some loosening of that in the 90s, but the jury is still out on how well that worked.

04-06-2010, 06:41 AM	#5
Nesster Veteran Member Join Date: Oct 2006 Location: NJ USA Photos: Gallery Posts: 13,072	The Domino Theory is a nice scare tactic - if we allow (an argualbly reasonable) A, then B, C and D (all arguably unreasonable) are sure to follow. It however avoids looking at the actual issue, and goes straight to the lizard brain. Another view of this lap-dog bill, Op-Ed Columnist - Making Financial Reform Fool-Resistant - NYTimes.com Of course, the current Prez isn't a constitution scoffer and power usurper like the previous one. But the danger is there. Re. Lehmann, the financial sector is still working out and unwinding the various deals left over. To think that the government is able to step in and do so quicker, and with less market turmoil (read: large drops in prices as the stuff is sold, affecting the next bank and the next), is rather silly. Also, it is in those fat cat's interest to keep financials un-nationalized, so the teeth of this proposed "reform" are hard to see. The main benefit is that the people running these companies are mainly concerned with the size of their bonuses - it's the only way they can keep score on Wall St. - and any government intervention will make said bonuses vanish. Of course the thousands of people working for the financials, and not making the big bucks, will be out of work...

04-06-2010, 06:45 AM	#6
Parallax Senior Moderator Loyal Site Supporter Join Date: Apr 2008 Location: South Dakota Photos: Gallery Posts: 19,332	Originally posted by GeneV Most utilities and many banks have been largely run by the government for many, many years. There was some loosening of that in the 90s, but the jury is still out on how well that worked. So the program is on track, then.

04-06-2010, 06:49 AM	#7
Green_Manelishi Senior Member Join Date: Oct 2007 Location: On the edge ... Posts: 179	Originally posted by Nesster Of course, the current Prez isn't a constitution scoffer and power usurper like the previous one. But the danger is there. You cannot be serious. The current prez (along with the moonbats Pelosi and Reid) is even more of a COTUS scoffer and power usurper than the previous president. But if you drink his KoolAid you'll follow him into death.

04-06-2010, 06:54 AM	#8
deadwolfbones Veteran Member Join Date: Sep 2007 Location: La Crescenta, CA Posts: 7,450	Originally posted by Green_Manelishi You cannot be serious. The current prez (along with the moonbats Pelosi and Reid) is even more of a COTUS scoffer and power usurper than the previous president. But if you drink his KoolAid you'll follow him into death.

04-06-2010, 06:59 AM	#9
Rupert Veteran Member Join Date: Sep 2006 Location: Texas Photos: Gallery \| Albums Posts: 25,123	Apparently none of you guys read the part about the three Trillion in losses to mostly Middle Class Americans? Could it be that none of you had anything invested....like say your retirement funds? Have the Fat Cats promised you that "you are special", and they will put a mark over your door so as they pass by the next time delivering economic destruction, they will not come inside and empty your Piggy Bank? It is not that these guys were crooks...it is that they ARE crooks, just lurking for another opportunity to strip us again. The kind of reform we need is not coming, the power has been removed from Govt by the Supremes and given to the Corporations and Wall Street........you guys will soon see how that works out for you. We no longer will elect politicians, they will just be appointed by the highest bidder....sort of like now, but on steroids. Regards!

04-06-2010, 07:07 AM	#10
Jodokast96 Veteran Member Join Date: Oct 2007 Location: Erial, NJ USA Photos: Gallery \| Albums Posts: 2,134	They can't take it from you if you don't give it to them. You do have a choice in that. Not so when it comes to paying the tax man. People gambled and lost.

04-06-2010, 07:21 AM	#11
causey Veteran Member Join Date: Feb 2009 Location: Arlington, VA Photos: Albums Posts: 3,757	Originally posted by Jodokast96 They can't take it from you if you don't give it to them. You do have a choice in that. Not so when it comes to paying the tax man. People gambled and lost. And you'll put your money under the pillow, because it's safe there. Or maybe buy a couple of houses. But... wait! They can take money from you even if you don't give it to them. It's called "inflation", or, more generally, "devaluation of goods." Greed balloons.

04-06-2010, 07:24 AM	#12
Parallax Senior Moderator Loyal Site Supporter Join Date: Apr 2008 Location: South Dakota Photos: Gallery Posts: 19,332	Originally posted by Rupert ................ It is not that these guys were crooks...it is that they ARE crooks, just lurking for another opportunity to strip us again. The kind of reform we need is not coming, the power has been removed from Govt by the Supremes and given to the Corporations and Wall Street........you guys will soon see how that works out for you. We no longer will elect politicians, they will just be appointed by the highest bidder....sort of like now, but on steroids. Regards! Geez, I hate it when you're right. (fortunately it doesn't happen all that often. )

04-06-2010, 07:28 AM	#13
Green_Manelishi Senior Member Join Date: Oct 2007 Location: On the edge ... Posts: 179	Originally posted by Rupert Apparently none of you guys read the part about the three Trillion in losses to mostly Middle Class Americans? Could it be that none of you had anything invested....like say your retirement funds? Have the Fat Cats promised you that "you are special", and they will put a mark over your door so as they pass by the next time delivering economic destruction, they will not come inside and empty your Piggy Bank? It is not that these guys were crooks...it is that they ARE crooks, just lurking for another opportunity to strip us again. The kind of reform we need is not coming, the power has been removed from Govt by the Supremes and given to the Corporations and Wall Street........you guys will soon see how that works out for you. We no longer will elect politicians, they will just be appointed by the highest bidder....sort of like now, but on steroids. Regards! Were any of these losses the result of the moron Bahney Fwank forcing banks to loan money to folks with no proven ability to pay? Of course, the banks then sell the risk to someone stupid, or greedy, enough to assume the risk because in their greed they are convinced they cannot lose and will make lots of $$$. The ponzi-schemers alsoo capitalize on the greed of "investors" who are looking for a "sure thing". There's plenty of blame to go around but the government is hardly the proper watchdog; that's like asking fox to guard the henhouse.

04-06-2010, 07:36 AM	#14
Nesster Veteran Member Join Date: Oct 2006 Location: NJ USA Photos: Gallery Posts: 13,072	Originally posted by Green_Manelishi Were any of these losses the result of the moron Bahney Fwank forcing banks to loan money to folks with no proven ability to pay? Of course, the banks then sell the risk to someone stupid, or greedy, enough to assume the risk because in their greed they are convinced they cannot lose and will make lots of $$$. The ponzi-schemers alsoo capitalize on the greed of "investors" who are looking for a "sure thing". There's plenty of blame to go around but the government is hardly the proper watchdog; that's like asking fox to guard the henhouse. This is an interesting take on what actually happened. Interesting, but not very reminiscent of actuality.

04-06-2010, 07:45 AM	#15
Green_Manelishi Senior Member Join Date: Oct 2007 Location: On the edge ... Posts: 179	Originally posted by Nesster This is an interesting take on what actually happened. Interesting, but not very reminiscent of actuality. No banks made bad loans? No "investors" yielded to simple greed? No risk was repackaged and sold downstream? Oh, please. Do tell what was the problem?