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comment_388635
1 hour ago, wanna-b-fanboy said:

No ****... corporate welfare is alive and well... 

After the mortgage crisis of the mid aughts- all those "too big to fail" corporations that received bail out after bail out after bail out made me (and suspect most people) crazy angry.

When people tell me that they were angry (I was angry at the ratings agencies who didn't do their jobs) about the bail-outs, I ask a simple question - what would you have done?  Let those giant banks fail?  That would have turned a deep recession into a full-blown depression, as millions of people would have lost not only their homes, but all of their life savings too.  There would have been mass poverty of 1930's era suffering.  I don't hate the bail-outs, I hate the fact that it was allowed to get to that level.  And it's happening again.  I am watching Tesla really closely right now after their last quarter results.  If the ratings agencies don't downgrade their debt on Monday, then the con is on again.  And it's going to be much worse this time when things finally blow sky-high.  Interest rates are going to go to the moon.

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comment_388636
34 minutes ago, kelownabomberfan said:

When people tell me that they were angry (I was angry at the ratings agencies who didn't do their jobs) about the bail-outs, I ask a simple question - what would you have done?  Let those giant banks fail?  That would have turned a deep recession into a full-blown depression, as millions of people would have lost not only their homes, but all of their life savings too.  There would have been mass poverty of 1930's era suffering.  I don't hate the bail-outs, I hate the fact that it was allowed to get to that level.  And it's happening again.  I am watching Tesla really closely right now after their last quarter results.  If the ratings agencies don't downgrade their debt on Monday, then the con is on again.  And it's going to be much worse this time when things finally blow sky-high.  Interest rates are going to go to the moon.

What would i have done? Let them fail. That would be capitalism at work. They engage in capitalism and enrich themselves in that economic paradigm- then let them suffer the consequences, just like EVERYONE else. No excuse.

 

comment_388638
8 minutes ago, wanna-b-fanboy said:

What would i have done? Let them fail. That would be capitalism at work. They engage in capitalism and enrich themselves in that economic paradigm- then let them suffer the consequences, just like EVERYONE else. No excuse.

 

do you fully understand the consequences of this strategy?  That millions of people would have lost everything?

comment_388640
10 minutes ago, kelownabomberfan said:

do you fully understand the consequences of this strategy?  That millions of people would have lost everything?

Yeah. I guess I should make the distinction between 

A) the bank institution

b) the bank stockholders.

Bail out the institutions- that helped the people. 

Leave the stockholders. Let em hang.

I am still not convinced that it would have been crazy worse... I don't think people would have lost much more then they did after losing their homes.

 

 

comment_388647
1 hour ago, wanna-b-fanboy said:

Yeah. I guess I should make the distinction between 

A) the bank institution

b) the bank stockholders.

Bail out the institutions- that helped the people. 

Leave the stockholders. Let em hang.

I am still not convinced that it would have been crazy worse... I don't think people would have lost much more then they did after losing their homes.

 

 

watch the movie "The Big Short".  It's really informative.  Gives a unique insight into the entire mess.

    comment_388656
    3 hours ago, kelownabomberfan said:

    do you fully understand the consequences of this strategy?  That millions of people would have lost everything?

    My problem isn't so much the bailouts because of the consequences of them failing but allowing those same companies to reward their exec's with huge salaries and bonuses doesn't sit well.

    comment_388657
    5 minutes ago, bigg jay said:

    My problem isn't so much the bailouts because of the consequences of them failing but allowing those same companies to reward their exec's with huge salaries and bonuses doesn't sit well.

    Oh yeah- as soon as they were entertaining the bail outs... I KNEW there would be bonuses and golden parachutes. I was totally against the bail out. 

    comment_388669

    The problem with big banks happens when they get to the point where they are "too big to fail", or more correctly, when they get to be "too big to let fail because of their incompetence". A conventional economic theory says that no financial institution should be allowed to control more that 8% of the market. After that, they are no longer answerable to anyone- not  even their shareholders or governing bodies.

    comment_388720
    On 2019-04-27 at 5:21 PM, kelownabomberfan said:

    so you didn't really answer my questions though.  There is no bogeyman here.  We as a society enjoy many, many entitlements.  Are you saying that there should be more?  Are you saying that you want to see corporations disbanded?  I don't really follow your line of reasoning.

    What we need to do is stop treating corporations and the wealthy like they're better than everyone else. Hold them accountable for the **** they do, make them pay their share of taxes to fund programs that benefit everyone. Socialism, capitalism, communism, what ever else it is these are just theories. It's how those in charge implement them that determine their outcomes, and right now the north American society isn't really capitalism, more like the rich make the laws and give themselves breaks while squeezing the middle class as hard as they can.

    comment_388737
    3 hours ago, 17to85 said:

    What we need to do is stop treating corporations and the wealthy like they're better than everyone else. Hold them accountable for the **** they do, make them pay their share of taxes to fund programs that benefit everyone. Socialism, capitalism, communism, what ever else it is these are just theories. It's how those in charge implement them that determine their outcomes, and right now the north American society isn't really capitalism, more like the rich make the laws and give themselves breaks while squeezing the middle class as hard as they can.

    after watching how the Liberals tried to make up their own laws with SNC Lavalin, I have a hard time disagreeing with you.

    comment_388738
    34 minutes ago, kelownabomberfan said:

    after watching how the Liberals tried to make up their own laws with SNC Lavalin, I have a hard time disagreeing with you.

    Yup Liberals, conservatives- they all seem to play by another book. 

    Maybe it's time for the NDP a shot... cuz really, why not at this point. 

    Edited by wanna-b-fanboy

    comment_388740
    On 2019-04-28 at 12:32 PM, wanna-b-fanboy said:

    So there is no such thing as corporate welfare?

    Corporate welfare comes in all shapes and sizes, the CBC, crown coprorations, MPI & Man Hydro just to name a few.

    The US situation was different though, it wasn't just jobs involved it was peoples life savings, big difference. 

    Edited by pigseye
    j

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