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The deficit is HUGE and unprecedented and it's time to pay the piper. It looks at this point that the U.S. will take on even further debt by bailing out foreign banks to try and restore some measure of stability in world markets. If you think the Sub Prime loans were risky you ain't seen anything yet, but there does not seem to be any alternative. Given this tremendous debt, I fail to see how just taxing the super rich will pay for all the fun and games. No, I think every U.S. tax payer, save the very poorest, will have to kick in big time to pay for it all, and the good times have ended. Makes me wonder if McCain and Obama were now wishing that they would loose the forthcoming election, as there is no way they will come out looking good after a first term.

That's what I'm anticipating, too, Lon. The cost of everything is rising, except our wages.

I agree and that is a huge problem as well how are we going to pay for this??? More and more people out of work, no raises and the taxpayer is going to foot this bill. :-5:-5 Just tired of this. I'm sure the men at the top of these companies walked away with huge severance packages while the worker just lost their jobs with no severance packages. They just walk away like they always do just disgusting.

[QUOTE]That's what I'm anticipating, too, Lon. The cost of everything is rising, except our wages,[/QUOTE]

I got into a discussion with Spot about this

and maybe Spot misunderstood me

It's estimated every citizen will end up paying at least a additional $4000.00

to rescue ourselves...

I'm sick of it tooooooo Carla.

Patsy

The CEO of Lehman Brothers is walking away with a $500,000,000 "golden parachute" deal, (yes thats 500 million dollars). That is simply not acceptable, and neither is Barclays agreement to pay out $2.5 billion in "bonuses" to the people who have just overseen one of the greatest economic disasters in history. Wall Street is still subservient to US Law, use it and stop these arrogant people walking away with millions after having destroyed your economy and your livihoods, its disgusting.

Galbally;990486 wrote: The CEO of Lehman Brothers is walking away with a $500,000,000 "golden parachute" deal, (yes thats 500 million dollars). That is simply not acceptable, and neither is Barclays agreement to pay out $2.5 billion in "bonuses" to the people who have just overseen one of the greatest economic disasters in history. Wall Street is still subservient to US Law, use it and stop these arrogant people walking away with millions after having destroyed your economy and your livihoods, its disgusting.


What can those on the Board of Directors of these different companies be thinking when they (and it is they) arrange for such bonuses, and what is wrong with the stockholders who elect these Board Members?

What the prominent and wealthy do is the guiding star for the behaviour of the masses.

You had a Supreme Court Justice once called Louis Brandeis who nailed scrupulous cleanliness to the mast-head of public service. CEO of Lehmans or White House appointee, it makes no difference at that level. If people underneath regard what's done as corrupt then they'll adopt corruption as a way of life themselves.Decency, security, and liberty alike demand that government officials shall be subjected to the same rules of conduct that are commands to the citizen. In a government of laws, existence of the government will be imperiled if it fails to observe the law scrupulously. Our government is the potent, the omnipresent teacher. For good or for ill, it teaches the whole people by its example. Crime is contagious. If the government becomes a lawbreaker, it breeds contempt for law; it invites every man to become a law unto himself; it invites anarchy. To declare that in the administration of the criminal law the end justifies the means-to declare that the government may commit crimes in order to secure the conviction of a private criminal-would bring terrible retribution. Against that pernicious doctrine this court should resolutely set its face.

Olmstead v. United States, 1928, Louis Brandeis.

Our Prime Minister circumvented finance laws to enable Lloyds to buy out HBOS. The following day it was revealed that the chief executive of HBOS would walk away with a hefty million pound bonus and other "incentives" while accepting a new post with Lloyds. Of course, all of this is above board and there isn't the smallest whiff of corruption.

Interesting that no one's suggesting that the gov't cut costs, close programs, lay off bureaucrats, etc etc etc.

Only that we pay more taxes.

in Canada, tax's go up all the time.........there is nothing we can do but to live with it............life's just grand!

Our government spends there so called budgets on frivilous luxury's because they assume they are special.....then we pick up the rest of their bills!

you cannot fight them.........there isn't a dam thing we can do.....because they are special!:-5

they spend....................I pay!

Acct.

when all said & some what stable

OUR GOV'T will hire a comittee for Thousands $$$

to investigate what went wrong.

get your wallet open - we'll pay for that investigation too..

makes me sick

Patsy

Lon;990409 wrote: The deficit is HUGE and unprecedented and it's time to pay the piper. It looks at this point that the U.S. will take on even further debt by bailing out foreign banks to try and restore some measure of stability in world markets. If you think the Sub Prime loans were risky you ain't seen anything yet, but there does not seem to be any alternative. Given this tremendous debt, I fail to see how just taxing the super rich will pay for all the fun and games. No, I think every U.S. tax payer, save the very poorest, will have to kick in big time to pay for it all, and the good times have ended. Makes me wonder if McCain and Obama were now wishing that that would loose the forthcoming election, as there is no way they will come out looking good after a first term.


Good point, in this case the loser may be the winner in the long run. I agree, every American will pay big time, and that inlcudes the poor as well because the tax increases will come in various forms, not just income taxes, but sales, property and various other fees that are in reality taxes. In NJ for example, the pension fund lost a hundred million dollars of its Lehman Brothers investment and somebody is going to have to make that up eventually.

Let's hope that the worse thing is that the good times are over, Americans for decades have lived beyond their means and it is all coming home to roost.

Accountable;990612 wrote: Interesting that no one's suggesting that the gov't cut costs, close programs, lay off bureaucrats, etc etc etc.

Only that we pay more taxes.


That is interesting isn't it. But of course the biggest ticket items, the so called entitlements are a political third rail.

With more regulation coming we will have more government agencies, not less and more overhead to pay for.

Accountable;990612 wrote: Interesting that no one's suggesting that the gov't cut costs, close programs, lay off bureaucrats, etc etc etc.

Only that we pay more taxes.


We're only describing what we think will happen, not what we'd like to see happen. I'd like to see your nation demilitarised, that'd pay to fix the problem at a stroke.

The military's the one big ticket item that's constitutional, though we could probably defend ourselves with less than half the force we have. If we cut all the unconstitutional spending at the fed level we could increase the military and still make a profit.

QUINNSCOMMENTARY;990683 wrote: That is interesting isn't it. But of course the biggest ticket items, the so called entitlements are a political third rail.



With more regulation coming we will have more government agencies, not less and more overhead to pay for.
I say cut the power on the third rail. :yh_frustr

Patsy Warnick;990628 wrote: Acct.

when all said & some what stable

OUR GOV'T will hire a comittee for Thousands $$$

to investigate what went wrong.

get your wallet open - we'll pay for that investigation too..

makes me sick

Patsy


your so right, we pay for everything!

Patsy Warnick;990628 wrote: Acct.



when all said & some what stable



OUR GOV'T will hire a comittee for Thousands $$$

to investigate what went wrong.



get your wallet open - we'll pay for that investigation too..



makes me sick



Patsy
I don't think so. This is different. Nobody broke any laws and this was plain for economists to see. Ron Paul predicted it ... I want to say in 2003. I'll try to find it. Anyway, there's nothing to investigate. The bankers paid their politicians to relax the rules so they could operate as they wished.

McCain is on 60 minutes right now - any one watching/watched McCain interview?

McCain stated he knows how to change the economy

didn't state how though..?

OK - back to taxes

Patsy

Patsy Warnick;990762 wrote: McCain is on 60 minutes right now - any one watching/watched McCain interview?



McCain stated he knows how to change the economy

didn't state how though..?

OK - back to taxes



Patsy
I missed it. It was on 2 1/2 hours ago here.

Acct.

I didn't know either, until my husband flipped it on

both McCain & Obama were interviewed

you didn't miss anything - same rhetoric as always

nothing on how? no solutions? just their the "man" and they" can" :wah:

sorry for this temporary interruption in your programming

Patsy

Accountable

Guess what ??

McCain announced today - he wants to form a committee to investigate

the Banking Industry

Committee consists of Mitt Romley - Mayor of New York Michael Bloomberg

and Warren Buffett.

are they working for free? Buffett probably ? & Bloomberg probably? - Romley, I doubt if he'll do anything for free.. McCain didn't elaborate..

of course I was very surprised at this announcement..:wah:

Patsy

Patsy Warnick;992096 wrote: Accountable

Guess what ??

McCain announced today - he wants to form a committee to investigate

the Banking Industry

Committee consists of Mitt Romley - Mayor of New York Michael Bloomberg

and Warren Buffett.

are they working for free? Buffett probably ? & Bloomberg probably? - Romley, I doubt if he'll do anything for free.. McCain didn't elaborate..

of course I was very surprised at this announcement..:wah:

Patsy


I'm guessing this is his non-partisan friends?

JAB;992106 wrote: Buffet wouldn't be a bad idea nor would Bloomberg. I agree with you Patsy on Romney... :rolleyes:


Like the dude isn't rich enough?:)

JAB;992119 wrote: They're all rich enough. I just believe that Buffett would do it because he doesn't need any more money. Can't say the same about Mitt.


Mitt always turned me off political wise. I wouldn't vote for him if you paid me.

Patsy Warnick;992096 wrote: Accountable



Guess what ??



McCain announced today - he wants to form a committee to investigate

the Banking Industry

Committee consists of Mitt Romley - Mayor of New York Michael Bloomberg

and Warren Buffett.

are they working for free? Buffett probably ? & Bloomberg probably? - Romley, I doubt if he'll do anything for free.. McCain didn't elaborate..



of course I was very surprised at this announcement..:wah:



Patsy
Take McCain and Romney out of the mix and I might trust it.

http://www.iht.com/articles/ap/2008/09/ ... ctions.php



With the U.S. stock market plummeting again, rivals Democrat Barack Obama and Republican John McCain battled to persuade voters of which presidential candidate is better equipped to take over a U.S. government burdened by a new, $700 billion financial bailout.



The presidential candidates lambasted one another in television ads and campaign speeches Monday, able to agree only that the Bush administration's proposal for the unprecedented bailout needed independent oversight.

Accountable;992130 wrote: Take McCain and Romney out of the mix and I might trust it.


Yes!

GSDucks

Non- partisan ?

I'd say it's bi - partisan

Romley is a Republican

Bloomberg - Independent

Buffett ? he's so very RICH - he just gave/turned all his money to Bill Gates.

Acct.

If the Pres. candidates really had our best interest as priority

they's stop wasting money on the stupid negative ads - get their A$$ back to the White House and Handle this Banking disaster - NOW..

No - they'd rather promise something will be done - only if I'M Pres. - I'll work on the Banking Disaster after the Holiday's my small peons..see ya in 2009.

How disquisting - arrogance

oh, but we're fundamental sound said McCain

well, McCain - I don't have 13 cars - I can barely afford getting one car on the road.

Today on Hardball - was the 1st time I've ever heard any one speak of the Keating 5 scandal.

now where's the dirt on Obama?

Patsy

Patsy Warnick;992151 wrote: GSDucks



Non- partisan ?

I'd say it's bi - partisan

Romley is a Republican

Bloomberg - Independent

Buffett ? he's so very RICH - he just gave/turned all his money to Bill Gates.



Acct.

If the Pres. candidates really had our best interest as priority



they's stop wasting money on the stupid negative ads - get their A$$ back to the White House and Handle this Banking disaster - NOW..



No - they'd rather promise something will be done - only if I'M Pres. - I'll work on the Banking Disaster after the Holiday's my small peons..see ya in 2009.

How disquisting - arrogance

oh, but we're fundamental sound said McCain

well, McCain - I don't have 13 cars - I can barely afford getting one car on the road.

Today on Hardball - was the 1st time I've ever heard any one speak of the Keating 5 scandal.

now where's the dirt on Obama?



Patsy
Give Barry a chance because he hasn't been around long enough to screw us yet? :wah:



I don't know why the Libertarian party didn't draft Ron Paul. Now Paul's website is hinting at something happening Oct 1. I will vote for Paul if possible. If he's not, then it's Bob Barr as a protest.