Politicians misled the public?

[SteamWake]

Yea I agree what a shock buisness as usual.

So.... hows that change workin out for you?

Originally Posted by The Washington Times

Federal Reserve Chairman Ben S. Bernanke and former Treasury Secretary Henry M. Paulson Jr. misled the public about the financial weakness of Bank of America and other early recipients of the government's $700 billion Wall Street bailout, creating "unrealistic expectations" about the companies and damaging the program's credibility, according to a report by the program's independent watchdog.

http://www.washingtontimes.com/news/...d-on-bailouts/

[FIREWALL]

When is the public going to wake up and realize the Politicians are in big moneys pocket.

And always have been.

[AVGWarhawk]

The public will never wake up. Bank of America can go down the drain. As far as the tall tales from DC...what else is new? I was watching CNN this weekend....some idiot stated that Obama will go down in history as an economic genius.

[FIREWALL]

I know we'll go down in history for having the worst and criminal economic times in history.

In the past the Justice dept and FBI would have been all over the crap that has been going on.

Not anymore. Any guesses why ?

[MothBalls]

Originally Posted by SteamWake

So.... hows that change workin out for you?

Not really sure. Guess we'll have to go back and ask the administration who wrote the first 787 Billion dollar TARP check that paid BofA, now won't we.

[AVGWarhawk]

Originally Posted by MothBalls

Not really sure. Guess we'll have to go back and ask the administration who wrote the first 787 Billion dollar TARP check that paid BofA, now won't we.

That was approved by the same group sitting at Capitol Hill right now.

[August]

Originally Posted by FIREWALL

I know we'll go down in history for having the worst and criminal economic times in history.

In the past the Justice dept and FBI would have been all over the crap that has been going on.

Not anymore. Any guesses why ?

I can venture a theory or three but it would just upset our forums Democrat friends...

[CaptainHaplo]

Mothballs - solid point.

Its not about republican or democrat - its all politicians regardless of the letter by the name.

Its time to RENO - Re-Elect No One.

If you want real change, you have to change the people that are there. Not a few oh the Hill and the guy living on Penn. Avenue.

They are pretty much all serving more than one master. Not all of them - but most.

That was approved by the same group sitting at Capitol Hill right now.

Irrelevant, since the issue is that the people who voted for the program were fed false information about the program and its recipients.

[MothBalls]

Originally Posted by Tribesman

Irrelevant, since the issue is that the people who voted for the program were fed false information about the program and its recipients.

Yes, but there are good points to be made from all sides.

I always look at the previous administration, both Dems and Reps, that they failed by not seeing this coming, not regulating the financial institutions predatory practices, and allowing the capitalization of credit markets beyond the limits of the fractional reserve. The housing market bubble was pure manipulation of an unregulated industry. It happened before in the 80's (S&L crisis)

On the same note, business is all about risk. those that took the risk, bought undercapitalized credit swaps and financial derivatives, should have been allowed to fail reguardless of how bad it hurt the economy. If the size of the companies failure actually has an effect on global markets, then we should look at possibly not allowing companies to become that large in the first place. Whole different issue.

Same with General Motors. If losing them would destroy the auto industry, they should have been broken into multiple companies under the monopoly provisions currently in place. (They did it to Microsoft) I own a small business. I have money stashed away to carry me through rough times. When times get rough, I don't run to the government for a bailout, I suck it up. I also pay myself last. If I can't, I go out of business.

So should they, rotten friggin bastards. I don't think any company should be bailed out in a free market economy. As someone said earlier (not be, but I agree) we just privatized profit and socialized losses. Unacceptable. The current administration is just as guilty. Spending us into oblivion is not the answer. Time to kick these failed companies to the curb.

There are laws that prevent me from writing bad checks. I think my government should be held to the same standard, unless we are defending ourselves in an "actual" war, like WWII when we were attacked.

The excuse about 911 being an attack on us and were fightin a war on terror, horsecrap. Maybe terrorists wouldn't want to attack us if we weren't running around the world sticking our noses in every ones affairs. You don't see terrorists attacking Switzerland. Can't imagine why. There a lesson to be learned there as well.

[August]

Originally Posted by CaptainHaplo

Its time to RENO - Re-Elect No One.

That reminds me. Rhode Island had the word "incumbent" removed from the ballots in the last election to make it more difficult for people to do just that.

[Platapus]

Originally Posted by August

That reminds me. Rhode Island had the word "incumbent" removed from the ballots in the last election to make it more difficult for people to do just that.

Now if only they and other states could remove the political parties from the ballots we might get to the point where the voters are forced to actually learn about the candidates instead of just voting for a letter.

Now if only they and other states could remove the political parties from the ballots we might get to the point where the voters are forced to actually learn about the candidates instead of just voting for a letter.

But it works so well in America, it gets more complicated in other countries but for the US its simple. D=dunce R=retard

[Platapus]

http://en.wikipedia.org/wiki/Douche_and_Turd

For far too long, my election experiences have been more along the line of voting against someone instead of voting for someone.

It really does not make me feel good when I am in the polling booth and I have to choose which of the candidates is the least dangerous scumbag.

I sure would like to vote in favour of a candidate one of these days.

For far too long, my election experiences have been more along the line of voting against someone instead of voting for someone.

That is because it is the way of the world, the only people who do otherwise are either too young to have learned otherwise from experience or older but just too dumb to learn.