This US $700bn bail out thing...

can't decide if it's the right thing or not...does it just allow these feckers to do whatever they want forever and a day and make the taxpayer or the ordinary person who generally suffers from their whims have to pick up the bill?

Could they not just pay everyone's mortgage off with the $700bn?!

 

Heads we win, tails you lose.............

When it's going well only they get to share the profits and when it's going badly the public foots the bill. So horrendous are these losses that not to bail them out would meltdown the whole system. Can't lose!

The best Catch-22 ever.

It seems they are socialists, but only when joe public has to pay off their debts.

 

Bet the majority of American are delighted to lend the Government enough money to pay off the mortgages of them that are not able to pay. Good incentive for all those owing money to default. Let the bloody government pay it. (doh) (doh) (doh)

 

But that's not what they are doing...

they are bailing owt the irresponsible greedy Barstewards who borrowed money to people who really could not afford it oin the first place.

I would imagine the average Yank would want to ask what consequences the banking industry will face for gambling like they have done and now, facing disaster as payment for their greed, they are getting the taxpayer to bail them out.

It seems to me it's the banks that have the incentive to **** up and default, not the homeowners, well mortgage holders.

 

Only problem with paying off everyone's mortgages

mortgages are owed to the banks anyway, so their going to get their hands on the cash regardless.

 

That's a very simplistic way of looking at it

It's affecting all the banks, both prudent and not so prudent. Now banks aren't lending to each other and the flow of money has stopped - now you could take the attitude of "let the failing banks go under" but it's not just the business that goes, it's not just those people that made bad decisions that lose out - it's everyone, the stock market collapses which in tern affects everyone - pension plans disappear, savings disappear etc. And it has a knock on effect around the world as well.

 

RE: That's a very simplistic way of looking at it

"which in tern affects everyone".

What do sea birds have to do with it?

Gotcha!!

 

We are trying to have a sensible debate

We don't need pedants like you climbing on their high horse!

I was getting mixed up with the Monica Lewinski scandal!


I don't know, I take a sabbatical from the board and this is how I get treated on my return! Anyway - piss off, I'm jetlagged!

 

Sensible debate

& Eaststander makes a spelling mistake.

Just goes to show there is a first time for everything!

 

Great isn't it?

They have millions of people living in poverty, but as soon as the money men - the people who prop up the parties and the American political system - get in trouble, suddenly they can find $700 billion.

Also makes me laugh that, when the markets and banks are doing well, only the shareholders and those on commission see any genuine benefit, but when they're in trouble, it's everyone's responsibility to bale them out.

I love capitalism, me.