http://apnews.myway.com/article/20081009/D93MS0L80.html

So private banks are having trouble? In order to prevent a collapse the gov't wants to prop them up by claiming a public stake

The auto makers are having trouble. How long til the gov't tries to prop them up by claiming a stake?
The airlines?
Utilities?

Welcome to Communist USA

Ya, let's let the whole f'n world fall apart just to preserve ideological purity! Great idea!

They just loaned them 25 billion.

So the world is going to fall apart if we don't hurry up and socialize any business that is deemed "too big to fail?" Remember when the Bushies said we had to invade every country in the world before they make nukes and attack us? Fear-mongering pot, meet fear-mongering kettle.

Now that summer is over, the neighbor kid's lemonade stand is starting to go under. Can the government buy some stakes in it so that he can stay in business? It's really good lemonade.

Remember when Herbert Hoover said everything was going to be fine if we just did nothing and let the market correct itself?

This has already been going on for years with those industries, except the gov't hasn't been claiming a stake in the company for it's bailout "loans".

And there's more to come. Who do you think is going to pay all the pension and retiree health benefits for employees from those industries?

As long as you can get your Hot Pocket fixes, then who cares about the long term ramifications.

It's a better option than what they previously touted and something I mentioned in one of the discussions about the bailout. Supposedly, "we are the government." It creates a greater likelihood of a "return on our investment" of $700 billion. When we're through this mess in a few years, the government can sell its equity stake--by low, sell high!

What about the long term ramifications of doing nothing? Ding!

Good question.

This is where you muster up as much rational and logical thought as possible, do a lot of research, talk to several people that know more than you, try your best to clearly define all of the possible outcomes of each situation, and try to decide what the best path is.

Oh, here's a hint. There's a lot more options that doing nothing and government buying stakes in the banking system.

So get back to us when you've done all that work and have an intelligent answer to the problem.

Hoover blew it, but let's not forget that the consensus of historical opinion has shifted to the view that Roosevelt's policies prolonged and deepened the Depression.

Before you pull out the "Hoover Card" on me, first prove that you are not such an intellectual lightweight by explaining how the following were examples of free market capitalism:

1. The Federal Reserve's dramatic increase of the U.S. money supply throughout the 1920's.
2. The passing of the Smoot-Hawley Tariff Act in 1930.
3. Repeal of the Coolidge-Mellon tax cuts in 1932.

I'm anxiously waiting.

Sigh...here we go again.


Iraq Liberation Act of 1998:

http://www.iraqwatch.org/government/US/Legislation/ILA.htm

Democrats on Weapons of Mass Destruction:

http://www.snopes.com/politics/war/wmdquotes.asp

The Feds already manage the pension plans of companies that have gone tits up or were merged into another company with no pension plan

The consensus?? Can you back that up? I know the libertarian wackos are promoting that view but I haven't seen anyone else pushing. Please provide a link, I'd be interested in looking at something.

Hoover and his party were in power for all those things. So I'm pulling the Hoover card on you again I guess.


Let me add, the money supply should hve been expanded during the 1920's, as the economy expanded

The Smoot Hawley tariff was terrible decision

And undoing Andrew Mellon's regressive tax policies was a good idea.

Reading Comprehension should be the next topic you need to google.

I understand what he is saying, government caused all problems. Blah, blah, blah.

Well, how solvent is the Pension Guaranty Fund? Can they cover future shortfalls? No!

I say dev/null should have 500 bucks out of his paycheck per month assessed and put into government coffers until that funds' potential liability sheet is balanced!

"That's right buddy, you keep laughing" Ron Paul 2008

Hey, I have a novel idea. If you guy's keep voting the same way everything will get better.

I said they manage the funds. I didn't say they were any good at it

And that 500 bucks per paycheck is might come out of everybody's soon enough