Thanks man that cleared alot of shit up for me

I'm hoping the government officials that will be in charge of those companies will actually ACT and do shit to clean them up though

whew glad that plan that has no evidence of fixing the economy passed (thx for glossing over the part where they dont even know how much money to throw at the rich folk as if it didn't completely invalidate the bill).

"well doug we've gotta fix this economy"

"think ten bucks will fix it?"

"naaaaah lets go higher"

"700 billion? with a minimum of restrictions?"

"aight, lets do this"

If the US falls, everyone else is pretty much fucked. Like Steel said, I know a lot of people like to go THANK GOD IM NOT A YANK or IT SURE FEELS GOOD OVER HERE IN ENGLAND but your asses are on the line here too, sorry to say!

yeah if anyone is actually saying this they must have their head in a bucket of sand or something.

lets lighten the mood a little though.

what happens when the financial crisis leaves your balls out in the cold?

...

recession!

we've saved the economy! lets get on that fraud legislation so it never happens again!

why do i hear crickets

I can't believe how relieved everyone is on the passage of this bill especially considering that there is absolutely no evidence that this will work out at all

- To reiterate, this is INVESTMENT and not a GIFT.

If this was true, all transactions would be done at market value. Instead the state is paying these banks for shit at a price higher than what they are worth(the difference between what we're paying for and what it's actually worth could be reasonably understood as a gift) in an attempt to keep them afloat. This current crisis can be traced back to the repeal of regulations in the 80's(glass-steagall act) that prevented companies from speculating with money that they don't have backed up in reserve to cover losses, they were able to go hog-wild with people's money and look where its gotten us.

This bailout is basically the state paying the for the losses of bad speculative investment decisions made by these companies with our tax dollars leaving the taxpayers with the bill and the financial giants getting off without consequence save for some superficial regulations.

I think it's because it's nice to believe we can do something about the economy, nice enough that we can ignore the fact we're giving 700 billion dollars to save people who fucked us and are doing nothing to take that power away from them. of course if anyone had listened back in like...what, the beginning of the primaries were going on when I first heard about the housing crisis, and I pay zero attention to economics news.

basically this crisis is just a cancerous sore indicative of a way larger problem (c...capitalism rules...free market) and this bill is the equivalent of applying neosporin.

or just yelling at it.

GO AWAY ECONOMIC CRISIS!!! LEAVE! NO ONE WANTS YOU HERE! NOTHING CAN CHANGE WHAT YOU ARE INSIDE!

I think it's because it's nice to believe we can do something about the economy, nice enough that we can ignore the fact we're giving 700 billion dollars to save people who fucked us and are doing nothing to take that power away from them. of course if anyone had listened back in like...what, the beginning of the primaries were going on when I first heard about the housing crisis, and I pay zero attention to economics news.

basically this crisis is just a cancerous sore indicative of a way larger problem (c...capitalism rules...free market) and this bill is the equivalent of applying neosporin.

or just yelling at it.

GO AWAY ECONOMIC CRISIS!!! LEAVE! NO ONE WANTS YOU HERE! NOTHING CAN CHANGE WHAT YOU ARE INSIDE!

you know, the thing is we actually could do something. I wouldn't be as disgusted with a trillion dollar bailout of people's mortgages and re-imbursed debt cancellation from the bottom up while investing in infrastructure projects to create jobs, that would actually be understandable and pretty orthodox keynesian approach to the situation. But this bailout is so ass-backwards that it's unbelievable that any rational taxpayer would be supportive of it.

I'm guessing it's because the economy is in such poor shape and people are desperate for any kind of 'solution' that this bailout is such an easy sell.

hey lets throw in some money for some NASCAR racetracks while we're at it!!!!*


*they did. this really happened

http://www.miamiherald.com/news/politics/AP/story/711014.html

Glad they've got their priorities right!

My friend has said some loan interest regulations were mainly responsible for this, does anyone know more about this?

My friend has said some loan interest regulations were mainly responsible for this, does anyone know more about this?

glass-steagall act of 1933 was repealed. It was the removal of regulations on financial corporations and a bunch of bad investment decisions.

It's remarkable how little effort is put into anything in this thread save from 2-3 people (and one who apparently gets all his talking points from libertarian websites). I'm really tired of reading in this thread "sum this up for me idk what it means". I don't know maybe read the bill yourself and make up your own mind about it? Everyone who has actually took the time to read the bill themselves here is a filthy socialist like myself so you might want to I don't know, read it and think about what it means and make a decision for yourself?????? Maybe that's too much work.

Somebody sum it up, I don't think I have the time/patience to honestly read all of that.

probably the most important bill written in the past 20 years? who has the time you guys tell me what to think

fuck you i didn't read that shit and i wouldn't expect anyone who wasn't a senator to do so.

fuck you i didn't read that shit and i wouldn't expect anyone who wasn't a senator to do so.

it's not like it is especially long and verbose i really don't see what the problem is.

why is it considered okay to just regurgitate what others tell you?

glass-steagall act of 1933 was repealed. It was the removal of regulations on financial corporations and a bunch of bad investment decisions.

so i guess my friend is making up stuff again

and ya i'm reading like two books related to this subject and i'm not just asking people to summarize things!

it's not like it is especially long and verbose i really don't see what the problem is.

why is it considered okay to just regurgitate what others tell you?

Goddamn, I didn't want to say anything but there is a difference between someone OBJECTIVELY summing it up and being biased as shit. You're unnecessarily coming off as a huge dickhead because you think everyone around here has the time to read a fucking 400 page bill they wouldn't normally give a fuck about, but are asking someone to SUM IT UP because they KNOW IT IS IMPORTANT.

I agree that acting like a complete asshole is sometimes necessary to get a point across, but you're acting like such a mother fucking dickhead it is now thoroughly irritating. like everyone here that wouldn't normally give a shit actually wants to know what 400 pages of political bullshit means when it can probably be summed up pretty fairly.

I'm not trying to assume Maladroithim is totally unbiased but atleast he fucking tried rather than barging in here and coming off like a fucking prick. If you disagree then PLEASE, BY ALL MEANS post it and let people know that he's being biased if he is. But don't come in here acting like people are lazy as fuck because they've got better things to do than read this stupid fucking bill.

HUUNBUUHHUU SO WHAT YOU DONT HAVE THE DRIVE TO READ THIS SHITTY BILL YOU SHOULD READ IT ITS IMPoRTATS

I'd rather have someone sum the main points up for me because honestly, this shit isn't worth my motherfucking time. If I know the main points then I can form an opinion on this bullshit rather than focusing on HEHEHEHE THELY PAID FOR NASCAR TRAX

I think that shit sucks too, but if this bill has a POSSIBILITY of getting passed I'd like to know the gist of it without reading the whole fucking thing because I don't have the time or patience to do so.

it's not like it is especially long and verbose i really don't see what the problem is.

why is it considered okay to just regurgitate what others tell you?

hahahahaha