Are you serious....?
Shelli is currently peeved with American racism and ideals.
***
Ok... so my knowledge is not as vast nor as deep with regards to American politics...
But I'm watching the Presidential Debate now as I type.
Are the American people listening to the Republicans..? Are they hearing the words that are coming out of McCain's mouth?
The Republicans are the reason why the economy is the state that it is in as of current. I remember reading "Dude, Where's my country?" by Michael Moore, where he spoke about the tax cuts for the big wealthy business/men. They believe in the trickle down economy, whereby - give the rich some more money and maybe it would eventually trickle down to the little man. It doesn't work, hasn't been working... and looking at the state of current economic affairs, it could only get worse.
The Treasury Secretary of the American gov't put no caps on CEO severance pay offs... soooooo, as the companies fail or whatever, the CEO walks off with a nicely filled pocket.
Now, like my friend Daniel said, one of the worst moves the gov't made was to buy out the companies. It sends a bad message. It practically allows the companies to get away with their blunders, and sends the message that the gov't would rescue you from your mistakes so long as your mistakes are bigger than you thought it was, and the mistake would create global ripples... What difference does the bail out make? And... how much can the taxpayers' dollar really help one company that affected the economy that much...?
***Newsweek excerpt.
Ada vs. Wall Street
"An 80-year-old grandmother who took control of her finances wonders why bankers can't do the same."
26th Sept. 2008
According to Treasury Secretary Henry Paulson, Federal Reserve Chairman Ben Bernanke and President Bush, that's pretty much what's happening to several major financial institutions in the current economic crisis. In the last month, the government has brokered three bailouts (Fannie Mae, Freddie Mac, AIG) totaling nearly $400 billion. In Washington and on Wall Street, there are dire warnings that more corporate failures are awaiting us in the months ahead. While a solution is being debated, the front-running fix is Paulson's original $700 billion bailout. Taxpayer funded, it's designed to steady the markets by strengthening ailing companies and easing the current credit crunch.
..."The corporate people that are getting all the big bucks—they should investigate them and see who's to blame before they bail out anybody," she said.
...Noda says there are already criminals who need punishing in the financial fiasco: "Get rid of the CEOs and prosecute them—get rid of all these people getting the big bonus," she said. "All these other Enron people who did something—they prosecuted them and they went to jail. If you or I did something wrong we'd go to jail."
***
The fact that there is no caps on the pay offs... now the workers within the company won't benefit. But the CEO walks off with all the money? Doesn't this mean that the severance pay would be in turn the equivalent to a buy out?
Doesn't the buy out make a mockery of what America stands for? Considering that capitalism rests on the foundation of no real gov't interference with private companies...?
Again, like Daniel put it, not only do the CEO's walk away scotch free and filthy rich, they jacked most of it from tax payers money.
***
Opinions about the AIG bail out
Lisa Williams
"...A husband and wife have $595,000.00. What would you do with $297,500.00 to $595,000.00 in your family? Pay off your mortgage - housing crisis solved. Repay college loans - what a great boost to new grads Put away money for college - it'll be there Save in a bank - create money to loan to entrepreneurs. Buy a new car - create jobs Invest in the market - capital drives growth Pay for your parent's medical insurance - health care improves Enable Deadbeat Dads to come clean - or else
Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And of course, for those serving in our Armed Forces. If we're going to re-distribute wealth let's really do it...instead of trickling out a puny $1000.00 ( 'vote buy' ) economic incentive that is being proposed by one of our candidates for President. If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18+!
As for AIG - liquidate it. Sell off its parts. Let American General go back to being American General. Sell off the real estate. Let the private sector bargain hunters cut it up and clean it up. Here's my rationale.
We deserve it and AIG doesn't. Sure it's a crazy idea that can 'never work. 'But can you imagine the Coast-To-Coast Block Party! How do you spell Economic Boom? I trust my fellow adult Americans to know how to use the $85 Billion We Deserve It Dividend more than I do the geniuses at AIG or in Washington DC And remember, The Birk plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam."
***
Convo with Daniel on msn.
Dvs says:
why was this company saved anyways? like what made
them so special that the government
decided it was necessary to keep them around?
Shelli...... rocks says:
yep
Shelli...... rocks says:
aig... they're insurance GLOBALLY
Shelli...... rocks says:
so if they went down... they take everything down too
Shelli...... rocks says:
im not sure if thats the one they bailed out.. was it only one?
Shelli...... rocks says:
but i think thats one
Shelli...... rocks says:
and another one i heard about was a mortgage company
that handled over 50% over mortgages in america
Dvs says:
ok, so they went bankrupt, theyre an insurance company........
Shelli...... rocks says:
yea
Shelli...... rocks says:
and insurance handles everything
Dvs says:
oh no now if my car crashes i wont be gettin my money back
Shelli...... rocks says:
its not like abank... its bigger than a bank.. the banks
invest with insurance companies
Shelli...... rocks says:
your car, your house
Shelli...... rocks says:
your backside (beyonce)
Dvs says:
lol
Shelli...... rocks says:
and j. lo
Shelli...... rocks says:
lol
Dvs says:
you would wonder how an insurance company goes bankrupt....all things
considered the only time money leaves is
when something happens (ie: buildings are destroyed)
why in the world would they go bankrupt?
Dvs says:
was it the hurricane?
Shelli...... rocks says:
precisely
Shelli...... rocks says:
i doubt
Shelli...... rocks says:
in my business class all i kept hearing was wall street greed
Shelli...... rocks says:
a lot of these companies had greedy intentions
and it collapsed in and of itself
Shelli...... rocks says:
they held out longer than they should
Shelli...... rocks says:
and made a series of business mistakes
Shelli...... rocks says:
and bad decisions
Shelli...... rocks says:
and it led to great losses
Dvs says:
so basically in a last ditch attempt to get out
of paying for all of the damages, they just
filed bankruptcy?
Dvs says:
wow
Dvs says:
....
Shelli...... rocks says:
pretty much
Shelli...... rocks says:
if you cant pay.. file for bankruptcy
Dvs says:
kinda proves the use of insurance now dont it
Shelli...... rocks says:
and their stocks are still being sold
Dvs says:
a victory for capitalism
Dvs says:
if the ppl want your product they will buy, even if its an illusion
Dvs says:
youd think the ceos would be taken to court
Dvs says:
i guess the buyout was necessary, not to save the
company so much as repay the citizens
Shelli...... rocks says:
yea pretty much
Shelli...... rocks says:
and yea you would think so...
Shelli...... rocks says:
but dan, they're greivin... give them more more
Shelli...... rocks says:
money
Shelli...... rocks says:
lol.... it would be unconscionable to take them
to court in their depressive state
Dvs says:
dont tell me thats actually why theyre gettin
away with it? greiving? because ofcourse
its in the name of the now-homeless survivors,
god forbid it be because they have to
part with their precious money
Shelli...... rocks says:
amen
Dvs says:
its a sad time to be an american
Dvs says:
and to imagine, voting for mccain is a matter
of values to alot of americans
Dvs says:
...well smalltown values
Dvs says:
or so they claim
Shelli...... rocks says:
one of the issues i keep hearing is...
he doesn't have experience...
Dvs says:
lol dailyshow was interviewing some of them at
the republican convention, askin what those values
were and the only answer that came out was church attendance
Shelli...... rocks says:
dan how do ppl get experience? furthermore, the ppl
with experience are makin crappy decisions
Shelli...... rocks says:
LMAO
Dvs says:
i kid you not
Dvs says:
lol yea, exprience
Dvs says:
i dont think spending time as a prisoner of war
really teaches you how to run a country
Dvs says:
kinda unrelated topics
Shelli...... rocks says:
exactly
Dvs says:
well im sad, cause my * extended family member*
was gonna vote hillary,
but since hillary lost she wants to vote mccain
Dvs says:
it doesnt make sence, i couldnt even reason with her
Dvs says:
experience indeed
Dvs says:
but pailin definitely takes the cake
Shelli...... rocks says:
can i post our convo in my blog?
Dvs says:
only if it includes you asking if it can be posted
Dvs says:
:P
Shelli...... rocks says:
lol ok
Dvs says:
and only if its used with comic intent...or at least satire
Dvs says:
ok scratch the last part
Shelli...... rocks says:
you know palin has her name associated with a party
thats tryin to remov alaska from the us and
make it independent
Shelli...... rocks says:
you know palin has her name associated with a party thats tryin
to remove alaska from the us and make it independent
Dvs says:
yea, i thought i told you that...or maybe the
other way around i dont remember
Dvs says:
ive been telling ppl that myself tho
Dvs says:
lol
Shelli...... rocks says:
imagine if there was a mere RUMOUR of this
attachment to obama
Dvs says:
well i just think its too funny, who woulda thought that
pandering for womens votes would go so far
Shelli...... rocks says:
lol
Dvs says:
yea, no i think the way everyones handling her
kids pregnancy is whats a bit much
Dvs says:
i couldnt quote it to save mylife, but jon
stewart made an excelent point about it
Dvs says:
basically saying, its amazing that theyre asking
everyone to respect their decision as a family
to keep the child, but denying all others (they even
included rape victims) the ability to make the same
choice themselves
Dvs says:
well theyre offering the same solution, but not the same choice
Shelli...... rocks says:
interesting point
Shelli...... rocks says:
ahh... you mean they made a choice in a matter that
shouldnt have to be decided on
Shelli...... rocks says:
based on her beliefs?
Dvs says:
no i mean they MADE a choice, they were giving one
regardless of the influences involved in it
Dvs says:
no i mean they MADE a choice, they were giving one
regardless of the influences involved in it
Shelli...... rocks says:
ahh..
Shelli...... rocks says:
same thing
Dvs says:
and theyre using it to set an example,
essentially denying others of the same
Shelli...... rocks says:
ohhh
Dvs says:
i mean, theyre arguing respect our descision and at
the same time trying to decide for women themselves
Shelli...... rocks says:
right
Dvs says:
its rediculous
Shelli...... rocks says:
yea
Shelli...... rocks says:
a paradox in and of its own
Dvs says:
and she also brings up the whole experience thing too
Dvs says:
yea
Shelli...... rocks says:
again
Shelli...... rocks says:
imagine if that was obama's daughter
Shelli...... rocks says:
i think the whole thing is being blown up
into something greater jus because he's black
Shelli...... rocks says:
i dont remember all this publicity with john kerry...
Shelli...... rocks says:
hell i had to rack my brain last night to remember his name
Shelli...... rocks says:
and if its for experience.... america picked bush over
kerry for experience... he created the mess and
they were too scared to change captains mid-flight. understood
Shelli...... rocks says:
but theres no excuse to keep someone..
or a party... that wasn't working in power
Shelli...... rocks says:
because of experience
Shelli...... rocks says:
how does one get experience? if not been given a chance?
Dvs says:
lol
Dvs says:
experience is just a euphemism we use
to feel better about our mistakes
Dvs says:
and yea, its sad but it really is beiing blown up this
big because he's black, i think alot of other candidates
were in no better shhoes and no more capable than
he is anyways
***Jamaica Gleaner
Will conservative ideology let Wall Street destroy capitalism?
We knew this would be the fallout. Conservative philosophy denounces ideologically the practice of government regulation. Further, it sees bail-out intervention as wrong. The market must self-correct as part of capitalism's creative destruction. Yet, today President Bush supports a bail-out.
Republican presidential candidate John McCain supports government intervention in campaign speeches, attacking greed on Wall Street. Obama supports it too, with caveats. What's new? Politics gets inextricably intertwined with economics once financial sector crash and rehabilitation turn up. We have our own FINSAC debates to guide us - what's new indeed? A bundle.
...Innovative and risky new financial instruments, once hailed as remarkably elegant, now defined as toxic, once created and marketed worldwide, take on a life of their own. The US budget deficit, according to Congressional Budget Office analysts, is $486 billion. This does not include ad hoc commitments for Bear Stearns, Fannie Mae and Freddie Mac of $240 billion. Top this up with $85 billion for AIG and $700 billion for a comprehensive programme a la Resolution Trust Corporation for an unprecedented commitment of taxpayer funds and the yet unborn.
The blame game will continue and intensify. Yet the process is not new. Financial crises and their resolution evolve like this. Innovation and lax regulatory oversight, for whatever reason, are followed by ad hoc responses, which fail to contain the crisis. Comprehensive solution follows with appropriate recrimination, significant policy and legislative regulatory changes - the classic process.
The problem, however, is that this situation represents conditions underlying both the way the world economy now works and the way the international monetary system evolved haphazardly, to facilitate it. The US dollar is the world's currency despite the emergence of the euro and Britain's insistence on maintaining sterling in its effort to provide some independence for domestic economic policy and the place of the city of London as a major financial centre.
...He wants a blank cheque with no oversight. Some see Paulson as making a power grab from an unpopular lame-duck President who must stay out of the public square. While Lou Dobbs calls the plan idiotic, its Liberal critics insist the bail-out should not simply hug up toxic assets no private entity would buy off Wall Street's books without potential taxpayer benefit. The bail-out must buy a stake in the business. Politically, the bailout as currently proposed - no possibility of judicial review, no relief for small banks, credit unions, homeowners - may prove more difficult to achieve than bi-partisan authority to make war in Iraq. This is why world financial markets continue to be spooked.
***
I heard this in the debate....when I was momentarily able to stomach the level of b.s. I was ingesting through my ears.
Should they have gone into war? I personally think the war was unnecessary. I don't believe 1/10th of what the gov't had to say. I believe the war was just an excuse to get over to the East. It's shrouded in too many question marks regarding how the whole thing was handled. I'm not even sure why they went over there... and no, I don't believe it really had to do with Al Quieda.
I'm even on the borderline of believing the conspiracy theories behind WTC attacks. Too many plausible question marks I say.. too many. Furthermore, you could see the details on your license plate from satellite. But they can't find ONE man on a DIALYSIS machine? C'mon... people are foolish, but not that foolish. What does he do? He has solar powered dialysis machines in every cave to help out his situation?
Anyways... that being said.
***
I find it even more annoying that many people are missing the value of what Obama is saying because they're too distracted by the colour of his skin. America prides itself on supposedly overcoming the evils and detaching itself in some ways from the legacy of slavery. They believe they have let go racial discrimination, and opened the doors to equality amongst everyone despite gender or colour...
Here's their objectivity proof test on these beliefs. Guess what, they're failing.
It's absurd how one track the critical thinking arguments are with this whole matter. They're not even paying attention to what policies are being advocated much less whats being said about the current state of affairs within the country. This is the time to make use of all the mud slinging transparency that's being brought to the table with the American gov't and how the country is being run. Your country.
Instead, the debate revolves around experience, skin colour, the reverend's statements, Palin "is a MILF" and super hot. *ahem* This isn't going to save the economy.
And frankly, it isn't going to save America either.
Shelli out.
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