BF2S Forums Stop the Bailout

What I also hate is the fact that not all banks will be getting help from the bailout, only the larger groups.

It then leaves the smaller banks to make loans themselves to the large banks and you have the risk of those then falling under.

The bailout is selectively choosing who succeeds through failure.

The Chinese just announced a $586bn bailout themselves. It's nowhere near the US package, but the US economy is larger and needed it more. Problem is, the US owes a lot of foreign debt to China at present also. They may be a little more reluctant to help out, although it's a double edged sword because China relies heavily on US imports to survive.

And the Messiah doesn't give a shit about the fed.. he even voted for the bailout..

Change?  yeah right..

Only Ron Paul have the balls to tell the truth.

This new world order is really beginning to take the piss!

Kmarion wrote:

PureFodder wrote:

Corporate welfare at its most blatant.

The worst bit is that after reading this lots of people will still maintain that the US has a free market aconomy.

What kind of market do you have? Or even China? Germany? Japan? Norway? Australia? Ireland? It seems corporate welfare knows no borders.

/copy cats

lol....well his name is pure fodder so........

More than a dozen tax lawyers interviewed for this story -- including several representing banks that stand to reap billions from the change -- said the Treasury had no authority to issue the notice.

Heads should be rolling. I hope Obama gets the justice department to fuck these people right in the wawz.

PureFodder wrote:

Corporate welfare at its most blatant.

Yeah strange that. Some people on this board who support the bail out are against Obama's "Socialist" ideals. Seams its ok to help your fellow man as long as they are already filthy rich.

Since the start I have been saying this financial crises is at least part engineered. The banks are merging into super banks, which could never have happened in good times due to competition issues. The crises handily side steps that issue. Consolidates the power even more to the banking dynasties, just as the great depression and federal reserve act did in the 1900s. Its quite clear that the banks are a law to themselves. They have government so over a barrel and are so integrated into the function of society that they cannot be allowed to fail. It leaves it that they can spend spend spend, fail, get bailed out and spend spend spend........our money.

This is nothing short of a new class system similar to Feudalism. Instead of king and nobility you have the bankers. Instead of Barons Lords & Vassals you have the government politicians. Then at the bottom is the peasants feeding the whole dam system that our overlords get fat on.

There was an article in the Sunday paper which was at a £350 000 dinner for HBOS staff. They even hired an Irish comedian at £30 000 to make jokes about how hard the ordinary ppl are getting it compared to them. The gift bags handed out at the party were over £100 000.

The federal reserve and the UK equivalent have said from the start that they will be handing out more of our money than stated in the bail out deal and that we would not be told how much or where the money is going. In short, its a handy way for the governments to hand our money to their cronies and backers with no record for the people they are accountable to scrutinise. Hardly democracy?

I agree. This is hardly a democracy and this outrage should not be allowed to stand.

ATG wrote:

I agree. This is hardly a democracy and this outrage should not be allowed to stand.

Turquoise wrote:

Maybe George Carlin was right....

Kmarion wrote:

PureFodder wrote:

usmarine wrote:

lol....well his name is pure fodder so........

Have I ever even remotely implied that the Uk, or indeed any country has been stupid enough to have a free-market economy? The difference is that more Americans seem to be under the mis-impression that they have a free-market economy than other natonalities. Free markets are not a good thing to have.

Also, it appears that the bailout has been used to sneek in a windfall of up to $140 billion for US banks. It's nice that their incompitence is being so handsomely rewarded.
http://www.msnbc.msn.com/id/27635885

No you didn't. You just seem to be less worried about yourself. Take a look at your post history. Your criticism for the US is so overt it's laughable. Most Americans are aware of what this bailout means, and if you paid any attention to the polls or popular sentiment (like this very thread) you would have seen this. Instead you assume that we are too ignorant to understand exactly what this plan constitutes.

No other system of economics has been more responsible or getting people out of poverty. The "free" market does not mean unregulated or irresponsible. It means free to choose. What is the better option?

The system used by most rich nations is a far cry from free markets. It's based on protectionaism, a strong state sector to drive the economy, socialization of risk and privatization of profit.

Look at where the free market was actually attempted to any even remote degree, South America and Africa. They did terribly from it. They are only now getting themselves back on their feet by ditching free-market economics and doing what everyone else has been doing all along.

PureFodder wrote:

Kmarion wrote:

PureFodder wrote:

Have I ever even remotely implied that the Uk, or indeed any country has been stupid enough to have a free-market economy? The difference is that more Americans seem to be under the mis-impression that they have a free-market economy than other natonalities. Free markets are not a good thing to have.

Also, it appears that the bailout has been used to sneek in a windfall of up to $140 billion for US banks. It's nice that their incompitence is being so handsomely rewarded.
http://www.msnbc.msn.com/id/27635885

No you didn't. You just seem to be less worried about yourself. Take a look at your post history. Your criticism for the US is so overt it's laughable. Most Americans are aware of what this bailout means, and if you paid any attention to the polls or popular sentiment (like this very thread) you would have seen this. Instead you assume that we are too ignorant to understand exactly what this plan constitutes.

No other system of economics has been more responsible or getting people out of poverty. The "free" market does not mean unregulated or irresponsible. It means free to choose. What is the better option?

The system used by most rich nations is a far cry from free markets. It's based on protectionaism, a strong state sector to drive the economy, socialization of risk and privatization of profit.

Consider WorldComm, Tyco, Enron. Each one had their top executives prosecuted, not protected. Again an unregulated free market is not what I am preaching. The "state driven" market has completely destroyed many economies over this last century. It stifles ingenuity and removes the desire to excel. Capitalism makes an easy target right now. But lets try and apply a little perspective here. Our impoverished walk around with cell phones ffs.

Look at where the free market was actually attempted to any even remote degree, South America and Africa. They did terribly from it. They are only now getting themselves back on their feet by ditching free-market economics and doing what everyone else has been doing all along.

Give me specific examples. Then ponder the accelerated standard of living in China over the last decade.

You gotta love a state run economy, look at all the prosperity that Venezuela is having!

Kmarion wrote:

CameronPoe wrote:

Kmarion wrote:

Give me specific examples. Then ponder the accelerated standard of living in China over the last decade.

Kmar - no offence but China != free market.

Globally they are. If the government is setting the price for all goods/services inside of their country... well that just sucks. But their economic gains have come from open trade. The world is still "free to choose".

You offered them as an example of how free markets can benefit a nation. China = show me your CCP membership card while I peg my currency at an artificially low level and throw 100,000 man-hours near-slave labour at the worlds biggest highway/dam/airport. The only people really benefiting in that country are a tiny clique middle class of CCP-card holders. It's a horrible example of free markets generating prosperity. Gigantic swathes of people live lives marginally better than those enjoyed by slaves. Beijing is almost a closed city - migrant workers from the country are shipped in in the morning and shipped out at night, like slaves. People live in the factories for which they work and their money must be sent back to the country to keep their parents and grandparents alive. A totalitarian government having its elite get fat off the hard work of drones be playing nice with the WTO is a poster for everything that sucks about free markets. A far more apt example of an embrace of free markets generating prosperity would have been Ireland.