Damn you George W. Bush and the Wall Street fatcats

AlleyCat said:
Anyone can turn the TV on to CNN or FOX or look online for everything going on in America. And, you said, "Many of us have seen this coming for years and have taken steps for it." Really? Then how come so many people have lost their houses (foreclosures), filed bankruptcy, are complaining about being laid off, and so on? If you want to say that many of us have planned for this, then post a link to that somewhere.

And .. income taxes .. you said "you haven't paid it for years." That's not something I would've posted online. That's not only NOT smart, it's illegal. As an American, it is NOT a choice, whether we like it or not.

Just my 2 cents.
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Federal income tax is VOLUNTARY. Awww, you won't take my word for it then? :)
 
Reports say that $10 million is being offered for the two shoes thrown at him during the infamous Iraqi Press Conference a few days ago.

VOA News - Saudi Man Seeks 'Shoe of Dignity'

This may be a nondescript method of attempting to earn money, but if you despise Bush that much due to what he did to you..
 
Jiro said:
lol.... yea... long legal battle with IRS? no thanks...
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I'm with you on this one .. Who wants a long legal battle with the IRS for not paying taxes? It's not voluntary! LOL

(It only appears to be voluntary as the 16th Amendment for this was never ratified properly in some states, but it's still a federal offense overall. Go look it up.)
 
Yes, the Bush Adminstration share their responsible for ignore finanical crisis warning in beginning of 2006.

We (Europeans) agrees that it wouldn´t have happened if Bush focus more on domestic than Commander-in-Chief.

Meeting was held at my hubby´s work place last week about world finanical crisis issues, it affect European countries including my hubby´s work place... The economist said that it´s part of Bush Adminstration´s responsibliy because they let it collapsed instead of fix something straight way in 2006 when the finanical crisis warning comes... Why they ignored it when they knew it´s RED FLAG????

It´s Bankers and government´s responsible to limit the lending, credit, etc to protect the customers instead of greed their money when they knew their customers can´t pay the loan with interest back.

Yes, the Bush Adminstration and the bankers are the blame to cause world enocomy crisis.





Private banks elect members of the board of directors at their regional Federal Reserve Bank while the members of the Board of Governors are selected by the President of the United States and confirmed by the Senate.
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The Board of Governors is the part of the Federal Reserve System that is responsible for supervising the private banks. A general description of the types of regulation and supervision involved is given by the Federal Reserve:[11]

The Board also plays a major role in the supervision and regulation of the U.S. banking system. It has supervisory responsibilities for state-chartered banks that are members of the Federal Reserve System, bank holding companies (companies that control banks), the foreign activities of member banks, the U.S. activities of foreign banks, and Edge Act and agreement corporations (limited-purpose institutions that engage in a foreign banking business). The Board and, under delegated authority, the Federal Reserve Banks, supervise approximately 900 state member banks and 5,000 bank holding companies. Other federal agencies also serve as the primary federal supervisors of commercial banks; the Office of the Comptroller of the Currency supervises national banks, and the Federal Deposit Insurance Corporation supervises state banks that are not members of the Federal Reserve System. Some regulations issued by the Board apply to the entire banking industry, whereas others apply only to member banks, that is, state banks that have chosen to join the Federal Reserve System and national banks, which by law must be members of the System. The Board also issues regulations to carry out major federal laws governing consumer credit protection, such as the Truth in Lending, Equal Credit Opportunity, and Home Mortgage Disclosure Acts. Many of these consumer protection regulations apply to various lenders outside the banking industry as well as to banks. Members of the Board of Governors are in continual contact with other policy makers in government. They frequently testify before congressional committees on the economy, monetary policy, banking supervision and regulation, consumer credit protection, financial markets, and other matters. The Board has regular contact with members of the President’s Council of Economic Advisers and other key economic officials. The Chairman also meets from time to time with the President of the United States and has regular meetings with the Secretary of the Treasury. The Chairman has formal responsibilities in the international arena as well.
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Preventing asset bubbles

The board of directors of each Federal Reserve Bank District also have regulatory and supervisory responsibilities. For example, a member bank (private bank) is not permitted to give out too many loans to people who cannot pay them back. This is because too many defaults on loans will lead to a bank run. If the board of directors has judged that a member bank is performing or behaving poorly, it will report this to the Board of Governors. This policy is described in United States Code, Title 12, Chapter 3, subchapter 7, section 301:[23]

Each Federal reserve bank shall keep itself informed of the general character and amount of the loans and investments of its member banks with a view to ascertaining whether undue use is being made of bank credit for the speculative carrying of or trading in securities, real estate, or commodities, or for any other purpose inconsistent with the maintenance of sound credit conditions; and, in determining whether to grant or refuse advances, rediscounts, or other credit accommodations, the Federal reserve bank shall give consideration to such information. The chairman of the Federal reserve bank shall report to the Board of Governors of the Federal Reserve System any such undue use of bank credit by any member bank, together with his recommendation. Whenever, in the judgment of the Board of Governors of the Federal Reserve System, any member bank is making such undue use of bank credit, the Board may, in its discretion, after reasonable notice and an opportunity for a hearing, suspend such bank from the use of the credit facilities of the Federal Reserve System and may terminate such suspension or may renew it from time to time.
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Federal Reserve System - Wikipedia, the free encyclopedia
 
Oh, I totally agree with you, Liebling, that bankers gave Americans too much financial freedom when they were given free reign to do what they wished. But, at any time, did they ever hold a pen in our hand and make us sign any papers? No. Not one single person can say that. If any of us were smart enough to do some simple calculations first and figure out what our budgets could handle with house payments, credit card payments, auto loans, etc., not all of us would be in the financial situation many of us are now.
 
AlleyCat said:
First, I'm sorry you got laid off, Sable. Especially so close to Christmas. :(

I do have to agree with much of what Pek said, though. I do blame major corporations, banks, automakers, etc., for the bad decisions they've made. Yet, we as consumers, have made bad decisions of our own. Who forced a pen in our hand and had us sign a credit card application or a new mortgage on a house many of us could not well afford? Each of us is responsible in some way for whatever financial state we're in, whether it's that we're well-off, or broke.

Lastly, it is not a war in Iraq. It is a war on terror. We just happen to be in Iraq at the moment. We are trying to make America and the rest of the world a safe place to be, and that's by eliminating terrorists. Turn on your TV to any news station such as CNN and you will see they say the same.
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THAT IS THE GOD FOR SAKEN TRUTH! Anyone (especially liberal activists) who don't get it need their brains mailed back to their mother! Welcome to the real world!
 
Great posting, Linux.

Uum, the gov't will eventually catch up with whoever not paying taxes. My guy didn't pay his taxes for years. When I found out, I said "you wait and see." They will catch you and make you pay. I was right about 8 yrs later, and everything shook out just fine but I had to wait one extra year to settle debts as I originally planned! If I charged a buck for every time I go, " I TOLD YOU SO!!"? I'd be on an island now. :D

Now the guy pays his taxes every year. They even caught a goof I made one tax year so that tax return got amended with a $257.00 penalty. Haaaa. I sleep real good at night.
 
No wonder I didnt vote that year when the Bush was running for president. I remmy when my son was in private school and there was voting in the school. Either Bush or Kerry. I told my son to vote for Kerry. Come to find out that the whole school vote for Bush and he is the only one vote Kerry. See what happened??? Sigh!!! This year I voted. So my vote counted.
 
I think that ultimately, the problem constitutes to the fact that people are taking advantage of whatever they can in the American government.

Here is where I take LinuxGold's View on it.

Yes, Bush's presidency is greeted with much hatred due to the fact that everyone is pointing fingers at him for the Iraq situation. Previous presidencies have also encountered the same. One prime example as stated in this thread already, is Herbert Hoover's term was during the great depression. Although there was little he was able to remedy of the situation, the fact remains that he did attempt to.

But the American public was not appeased, and sought to blame him for his troubles. It was only until later, FDR was thought to have regenerated much of the woes of the country. Credit where credit's due, many economists conjectured that the recovery wasn't due to FDR's bills and plans, but actually because of the war industry boom where the public sought to become actively involved.

Fast forwarding 60 years later, we are having an economy crisis as everyone who hasn't been living under a rock knows. But personally I observe the factors of this crisis do not entirely contribute for the same reasons of the Great Depression.

This was more of a "guerrilla tactic" form of law dodging used by not just Bush's administration, but by people in high standing of our country as well. Basically what I think top profile people were doing were, all trying to squeeze out what they could out of whatever policy they were pitted in. Mortgage agencies looked like they had some great loan policies going on, and homes got real expensive. But they trodded over the line and did not have the cash to back up for a Plan B if something were to happen as a result of it. Plenty of cases involving corporate cash snobs are sure to exist, but like we know they remain silent until it booms in public like it's a shocker, though everyone should already know by now this is what happens when you have too much power/and or loopholes.

It is obvious that their ideas of candor are mere confabulations for their outside images.

The boom of the internet and PC world could last only so long, from the early 90's to 2008 it's been on average 15 years. The .com business shrunk in size as everyone willing to hopped onto the bandwagon. It was an era that was meant to die. Even today, the PC hardware industry inevitably went on decline, not by that of the fault of the economy, but I think it is due to more and more people realizing they don't need to get every new technology off the bat.

Obama's election will have little or next to nothing to do with the economy, aside from fixing the enormous spending from congress that Bush did. Even with this spending cut back, it's not going to immediately put our nation into reverse.

Predominantly, it is up to the American public to decide what's the next boom that gets most of everyone active again.

PS: Byrdie, where's your support!? no TL;DR allowed here!
 
naisho said:
I think that ultimately, the problem constitutes to the fact that people are taking advantage of whatever they can in the American government.

Here is where I take LinuxGold's View on it.

Yes, Bush's presidency is greeted with much hatred due to the fact that everyone is pointing fingers at him for the Iraq situation. Previous presidencies have also encountered the same. One prime example as stated in this thread already, is Herbert Hoover's term was during the great depression. Although there was little he was able to remedy of the situation, the fact remains that he did attempt to.

But the American public was not appeased, and sought to blame him for his troubles. It was only until later, FDR was thought to have regenerated much of the woes of the country. Credit where credit's due, many economists conjectured that the recovery wasn't due to FDR's bills and plans, but actually because of the war industry boom where the public sought to become actively involved.

Fast forwarding 60 years later, we are having an economy crisis as everyone who hasn't been living under a rock knows. But personally I observe the factors of this crisis do not entirely contribute for the same reasons of the Great Depression.

This was more of a "guerrilla tactic" form of law dodging used by not just Bush's administration, but by people in high standing of our country as well. Basically what I think top profile people were doing were, all trying to squeeze out what they could out of whatever policy they were pitted in. Mortgage agencies looked like they had some great loan policies going on, and homes got real expensive. But they trodded over the line and did not have the cash to back up for a Plan B if something were to happen as a result of it. Plenty of cases involving corporate cash snobs are sure to exist, but like we know they remain silent until it booms in public like it's a shocker, though everyone should already know by now this is what happens when you have too much power/and or loopholes.

It is obvious that their ideas of candor are mere confabulations for their outside images.

The boom of the internet and PC world could last only so long, from the early 90's to 2008 it's been on average 15 years. The .com business shrunk in size as everyone willing to hopped onto the bandwagon. It was an era that was meant to die. Even today, the PC hardware industry inevitably went on decline, not by that of the fault of the economy, but I think it is due to more and more people realizing they don't need to get every new technology off the bat.

Obama's election will have little or next to nothing to do with the economy, aside from fixing the enormous spending from congress that Bush did. Even with this spending cut back, it's not going to immediately put our nation into reverse.

Predominantly, it is up to the American public to decide what's the next boom that gets most of everyone active again.

PS: Byrdie, where's your support!? no TL;DR allowed here!
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:zzz:
 
Mrs Bucket said:
pek1- let's not butt in on sablescort's ranting thread.

This is meant to give support & provide rapport .. not steal the spotlight.
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I'm a wake now.....

In defense of pek1--he did make good points. :hmm:

Sablescort--hang in there buddy! You'll get through! :)
 
I am sorry to hear about your getting laid off, Sablecort. I wish you the best luck on job searches but it's not easy because I know that there are very too few companies that are hiring, depending on where you live. I will keep my fingers and toes crossed that you will get the job soon.
 
Hey man, I'm sorry to hear about losing your job. I hope you find a new job quickly.
 
I would point out that the executive branch does not have nearly the amount of control over the economy as people think. The Congress probably has more power over the economy, and even that is limited. In this case, there's plenty of blame to go around. For instance, it was Democrats who vigorously defended Freddie and Fannie and ignored congressional Republicans and the White House as they tried to sound warning bells and push for regulations against Freddie and Fannie (despite what some politicians have said about Republicans opposing all regulation). Sadly, this whole thing would not have been nearly as bad if the Democrats had listened or the Republicans had pushed harder.
 
I have agree with DHB and LinuxGold.

Not just only for Bush, all government system are blamed for that.
 
AlleyCat said:
None of us said it was all our fault. We do have to accept SOME of the blame in making poor financial decisions for ourselves. I wasn't referring to Sable's layoff, but just in general. If you think everything that has gone wrong with our mortgages and credit and auto loans is completely the fault of everyone else (including Bush,) then you are deluding yourself. Even Obama, for all that I am hopeful for what he may accomplish, will not be able to turn around the economy overnight. It will take time, both on the behalf of corporate America AND on behalf of us, as consumers, to make things better. Are you going to blame Obama for however long that may take? That makes it no better than blaming Bush.
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How are people at fault? Many people didnt predict that they were going to lose their jobs or businesses when they purchased their homes, vehicles and etc. My dad sure didnt predict that his business that he owned for 35 years was going to fold completely and lose $300,000 last year. Now, he is about to lose his house. I am sorry but he is not at fault for it and I am sure many others feel the same way.Who can predict the future?
 
I agree with Shel on this. It's not people's fault, but the government system's fault because they are careless, etc...
I am sorry to hear about your father's business and his house, Shel. :hug:
It sure hurt my two brothers' businesses since they are the owners, and of course, I am worried about them losing their businesses and houses. (One of my three brothers has 6 houses, but I don't know what will he do with his 6 houses? perhaps, selling some. I don't know. I will find out more info from him... ) My third brother's a detective. I know that he will not get laid off but he (and other cops) will not be getting a raise for a while.
 
*WE* govern the Government, therefore we should govern their spending spree RIGHT NOW! Flying in very expensive airplane, going to very expensive hotel, eating very expensive food JUST for a meeting.
 
AlleyCat said:
Oh, I totally agree with you, Liebling, that bankers gave Americans too much financial freedom when they were given free reign to do what they wished. But, at any time, did they ever hold a pen in our hand and make us sign any papers? No. Not one single person can say that. If any of us were smart enough to do some simple calculations first and figure out what our budgets could handle with house payments, credit card payments, auto loans, etc., not all of us would be in the financial situation many of us are now.
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I remember that a past President or two, along with their key Cabinet members pressuring banks to relax their loan policies and we are now seeing the mess from that.....
 
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