Sorry, but what crisis, exactly? If the government doesn't hand $700 billion over to private banks then what happens? "Financial meltdown"? What's that mean? Will there be no food in shops? Will there be no teachers in schools? Will it be worse than not being able to pay one's mortgage? Will it be worse than eternal debt to predatory lenders? Is it possible that this hypothetical "meltdown" will actually affect a tiny portion of the population who can well afford and, perhaps, deserve it?
Americans are already knee deep in financial peonage - wage slaves sustaining constant consumption - and now the plan is to take money from them to help out the biggest ditch-diggers of us all? If they pass this horrendous corporate welfare bill I would support a tax mutiny. There is no reason for this nonsense.
Furthermore, the idea that these derivatives have no fixed value is nonsense. Take 1/10th of the $700 billion and pay off the shady mortgages. People stay in their homes and the whole collapse is averted because the debts will not go into default. Problem solved - unless the problem is how to hand $700 billion to a bunch of rich twats who deserve to be stretching their new orange jumpsuits in Guantanamo Bay...
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xsleef 3 years ago
"Profit is private and individual. Loss is public and social." Benito Mussolini
TaffyAlpha 3 years ago
Sorry, but what crisis, exactly? If the government doesn't hand $700 billion over to private banks then what happens? "Financial meltdown"? What's that mean? Will there be no food in shops? Will there be no teachers in schools? Will it be worse than not being able to pay one's mortgage? Will it be worse than eternal debt to predatory lenders? Is it possible that this hypothetical "meltdown" will actually affect a tiny portion of the population who can well afford and, perhaps, deserve it?
Katzenflitzer 3 years ago
Americans are already knee deep in financial peonage - wage slaves sustaining constant consumption - and now the plan is to take money from them to help out the biggest ditch-diggers of us all? If they pass this horrendous corporate welfare bill I would support a tax mutiny. There is no reason for this nonsense.
Katzenflitzer 3 years ago
Furthermore, the idea that these derivatives have no fixed value is nonsense. Take 1/10th of the $700 billion and pay off the shady mortgages. People stay in their homes and the whole collapse is averted because the debts will not go into default. Problem solved - unless the problem is how to hand $700 billion to a bunch of rich twats who deserve to be stretching their new orange jumpsuits in Guantanamo Bay...
Katzenflitzer 3 years ago
is this protesting the bailout?
urasmore 3 years ago
Duh?
kirby4d 3 years ago