Bailing Out Wallstreet And The Rich

[WinePusher]

I hear a lot of liberals, progressives, socialist, occupy wallstreet protestors complaining about things like income inequality and how the top 1% is screwing over everybody else. Well, it's funny how these very same people seem to have no problem with government programs such as TARP and government institutions like the Federal Reserve bailing out wallstreet firms and executives.

In fact, it seems like the majority of people on the left supported government intervention because all these banks were too big to fail.

1) Isn't it ironic for the left to support the government bailout for wallstreet since they're constantly complain about wallstreet?

2) Was it a good idea for Congress and the Federal Reserve to bailout out wallstreet? Has the wallstreet bailout helped the economy recover?

[Nickman]

I hear a lot of liberals, progressives, socialist, occupy wallstreet protestors complaining about things like income inequality and how the top 1% is screwing over everybody else. Well, it's funny how these very same people seem to have no problem with government programs such as TARP and government institutions like the Federal Reserve bailing out wallstreet firms and executives.

In fact, it seems like the majority of people on the left supported government intervention because all these banks were too big to fail.

1) Isn't it ironic for the left to support the government bailout for wallstreet since they're constantly complain about wallstreet?

2) Was it a good idea for Congress and the Federal Reserve to bailout out wallstreet? Has the wallstreet bailout helped the economy recover?

It is a damn good thing that 172 Dems and 91 Repubs voted for the bailout, because it kept us afloat. It is funny how Repubs don't care about corporate subsidies, but they are not in favor of a bailout.

That is the problem with the government doing things to effect the economy. Prior to the 1930's transfer payments were unconstitutional. Now they compose the majority of the federal budget. Corporate subsidies have been instated by people from both parties, generally as economic bailouts. Then those bailouts are not repealed or are extended, because someone somewhere will suffer. Therefore, there is no incentive to do anything but expand government spending. It was foretold some 150 years ago that a democracy can only exist until the majority discovers it can vote itself largess out of the public treasury. After that, the majority always votes for the candidate promising the most benefits with the result the democracy collapses because of the loose fiscal policy ensuing, always to be followed by a dictatorship.

After the turkey day break I read the Citizens United thread and have had a wakeup call from Darius and Winepusher. I am losing confidence in democracy altogether. The corporations control the government so therefore the government cannot control the corporations. I think that I am the only one that can save us! Lol. If I only had the money.

I do think that the bailouts helped keep us afloat. That is apparent, but it cannot stop the inevitable.

[bluethread]

After the turkey day break I read the Citizens United thread and have had a wakeup call from Darius and Winepusher. I am losing confidence in democracy altogether. The corporations control the government so therefore the government cannot control the corporations. I think that I am the only one that can save us! Lol. If I only had the money.

I do think that the bailouts helped keep us afloat. That is apparent, but it cannot stop the inevitable.

The problem is that the bailouts didn't really keep us afloat. They just focused energy on the gunnels instead of the breaches in the hull. While the officers argue about the best way to keep'er afloat, all they seem to do, under the guise of a bailout, is tear up the deck and add to the ramparts which then become the new gunnels as the ship of state continues to sink. The fact is the only bailing is done by us swabbies who have little choice but to do our best to stay dry. Aarg! I say we man the lifeboats and leave 'em to go down with the ship.