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As We The People take over

Discussion in 'Sports and News' started by poindexter, Jul 15, 2008.

  1. poindexter

    poindexter Well-Known Member

    trillions in Fannie Mae and Freddie Mac loans... as we subsidize failed banks to the tune tens and tens of billions of dollars (and we are just getting warmed up), I have a question:

    Does even one person lose their job over this? Even one get fired?
     
  2. Inky_Wretch

    Inky_Wretch Well-Known Member

    Aside from the business reporter assigned to cover it but who got downsized instead?
     
  3. Pancamo

    Pancamo Active Member

    IndyMac is firing 3400 workers but I assume you mean CEO's.
     
  4. poindexter

    poindexter Well-Known Member

    Sorry, I meant the people who make the $10's of millions in bonuses. You know, all that money needed to attract and retain the huge talent at these companies.

    I know the peons get fired en masse at the drop of a hat.
     
  5. Pancamo

    Pancamo Active Member

    They shouldn't just lose their jobs, they should be put in jail.
     
  6. trifectarich

    trifectarich Well-Known Member

    How many people work in various government agencies who are supposed to oversee our banking and financial institutions? What have they been doing except nothing? They all ought to be put on a bus and pushed over a cliff. It's disgraceful.
     
  7. Football_Bat

    Football_Bat Well-Known Member

    This is a ticking time bomb ready to go off.

    If Fannie and Freddie can't be saved, our national debt goes from $9 trillion to $14 trillion in an instant. The dollar tanks further, the government bond rating takes a hit, and skittish foreign investors bail, and away we go.

    It'll make the Great Depression look like a bad day at the office.
     
  8. Inky_Wretch

    Inky_Wretch Well-Known Member

    In other words, time to go into WOLVERINES! mode.
     
  9. Armchair_QB

    Armchair_QB Well-Known Member

     
  10. crimsonace

    crimsonace Active Member

    Yeah, they'll get fired with a multi-million dollar golden parachute, and then another guy with millions worth of bonuses will be brought in.

    One of these days, the people hired by stockholders (the BoD) to manage stockholders assets' might figure out that it's more fiscally prudent to hire a young CEO for a reasonable salary, rather than a screw-up for millions of dollars.

    But then again, maybe one of these days we'll stop paying $500 to take the family to a baseball game and the guys on the field suddenly won't be making $20 million a year.
     
  11. Bubbler

    Bubbler Active Member

    $500? Damn Crimson, do you want my StubHub link? :D
     
  12. Brooklyn Bridge

    Brooklyn Bridge Active Member

    I was tempted to start a thread similar to this, comparing Ben Bernanke to Alan Greenspan. It seems that Ben is getting praise for reforms and chaning a lot of this predatory/shady lending practices that have been going on. Greenspan is being chided for not doing enough, for lowering interest rates (devaluing the dollar) for the last five years, leading to the speculators putting their cash into oil. How come This didn't come out years ago? IIRC, everybody was praising the low-interest rates and Pres W. was talking about record number of minorities owning homes, while all along it was a sham. What ever happened to the "Buck stops here?" Just once, can't one guy get fired? Some accountability on some level? What we have is GM in shambles, Budweiser being bought by a foreign company, dollar is worth about a peso and thousands of hard-working reporters losing their jobs if only for the simple fact that the people who own the companies made bad business decisions. Fuk 'em Dems and Repubs....They're both from the same cloth. Rant over.
     
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