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FUTURE_OF_GM

Grab your tinfoil hats

47 posts in this topic

Obama wants to control banks

Think about this... Think about the line that says "punishing regions of the country"... Then think about the TN plant.

To add more fuel to the WILD discussion that will inhabit this thread; most fundamentalist christians believe that the final anti-christ will control people via barcode and credit or money. I present this quote:

Think about it: If Rick Wagoner can be fired and compact cars can be mandated, why can't a bank with a vault full of TARP money be told where to lend? And since politics drives this administration, why can't special loans and terms be offered to favored constituents, favored industries, or even favored regions? Our prosperity has never been based on the political allocation of credit -- until now.

:scratchchin:

DISCLAIMER: I am not offering my opinion on this piece... I merely think it's interesting and might make for interesting discussion.

Edited by FUTURE_OF_GM
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I have to read the article to form an opinion, but the thread title is too funny. :lol:

Fair warning though, this has a high probability of being moved to the Politics section.

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You have to consider the source...the writer is a host of Fox Business Network and it's in the WSJ, both which have a conservative bias to their news.

Shouldn't this be in the Politics forum, anyway?

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What's that I hear? Australia calling my name?

This country is in the throws of degradation, it's a constantly worsening mess that, day by day, seems irreversible. And my gut is telling me not to stick around for the next four years of bull$h! that is sure to come. America's glory days are over and it's my generation that is surely going to have to bend over and take it with a smile and suffer while the country crumbles around us.

Ah $h! ... I should have voted for Nadar. Not like it would have mattered anyway, but whatever.

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You have to consider the source...the writer is a host of Fox Business Network and it's in the WSJ, both which have a conservative bias to their news.

While I do think Fox News is the biggest pusher of Republican propaganda and bull$h! in general, I can also read between the lines here. I don't know. For some reason, as Obama makes political decision after political decision, I seem to raise an eyebrow each and every time, although I don't totally disagree. It's going to be interesting to see just how his first 100 days come to a close. So far it's been hard to make a call.

Shouldn't this be in the Politics forum, anyway?

Aw, c'mon. Let all us po' members have a little fun too.

Edited by YellowJacket894
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Keep it civil and it can stay in the Lounge for now.

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You have to consider the source...the writer is a host of Fox Business Network and it's in the WSJ, both which have a conservative bias to their news.

Shouldn't this be in the Politics forum, anyway?

Bingo.

Honestly, though, bank nationalization worked wonders in Sweden after their economic crash. The Fed already controls interest rates, so I don't see what the huge problem is on the surface. I'm open to other opinions, though.

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What's that I hear? Australia calling my name?

Don't let the door hit you in the ass on your way out. Just remember Zeta is not long for this world and I'm sure you will be very happy there when the Holden plant is converted to GMDAT cars. Cruze is just the 1st of many GMDAT vehicles they will be building there ...

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Bingo.

Honestly, though, bank nationalization worked wonders in Sweden after their economic crash. The Fed already controls interest rates, so I don't see what the huge problem is on the surface. I'm open to other opinions, though.

Central banks are a threat to us all. We probably wouldn't even be in this mess if we didn't have a central bank.

But what i think FOG is trying to point out that Obama essentially wants to be able to control anything he deems a "problem" to the economy, which is de facto socialism.

Edited by Teh Ricer Civic!
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Why would anyone want to move to Australia?! It's hot, dry, and it's where Paul Hogan's from.

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Why would anyone want to move to Australia?! It's hot, dry, and it's where Paul Hogan's from.

Is he related to Hulk Hogan?

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Why would anyone want to move to Australia?! It's hot, dry, and it's where Paul Hogan's from.

Well, here's a couple of compelling reasons:

17211.jpg

07range129jt6.jpg

Also you have lots of land to choose from where your nosy neighbor is like 50 miles away. :P

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The problem with bank nationalization is that unless you nationalize every single bank in the country, the banks that haven't been nationalized are at a serious disadvantage. How would you like to work at a bank that hasn't been nationalized and know that the one across the street has the federal government to eat all of its debt? Not every bank in the country is sunk and the cost to nationalize them all would be staggering, so those would be my reasons for not nationalizing the banks. Though, like you, I am open to other opinions.

Hardly.

When congress nationalized then Penn Central and other railroads, the Union Pacific, Santa Fe, Burlington Northern, Chessie System and others all survived. Conrail was allowed to reorganize under federal supervision and became quite successful. After it was clear that it could stand on it's own, Conrail was sold off to the CSX and Norfolk Southern who both have thrived ever since.

This is exactly how the banking should work.

If I were in Obama's place, I'd want control of the banks too. They're the ones who F-ed it up this much. They clearly can't be trusted. Form Congressional National Bank. Combine all the failed banks into that, then sell off pieces once it's been profitable enough to recoup any taxpayer losses.

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Don't let the door hit you in the ass on your way out. Just remember Zeta is not long for this world and I'm sure you will be very happy there when the Holden plant is converted to GMDAT cars. Cruze is just the 1st of many GMDAT vehicles they will be building there ...

PCS, PCS, PCS ... tisk, tisk. You've incorrectly evaluated me here, sir. Sure, the cars Australia has built is one reason I would like to live there, but there's something about the Australian attitude that makes me evoke images of what I think the American attitude used to be once upon a time.

Edited by YellowJacket894
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Hardly.

When congress nationalized then Penn Central and other railroads, the Union Pacific, Santa Fe, Burlington Northern, Chessie System and others all survived. Conrail was allowed to reorganize under federal supervision and became quite successful. After it was clear that it could stand on it's own, Conrail was sold off to the CSX and Norfolk Southern who both have thrived ever since.

This is exactly how the banking should work.

If I were in Obama's place, I'd want control of the banks too. They're the ones who F-ed it up this much. They clearly can't be trusted. Form Congressional National Bank. Combine all the failed banks into that, then sell off pieces once it's been profitable enough to recoup any taxpayer losses.

The banks won't be nationalized, nor should they be. Government regulations are as much to blame for the mess created. There are some banks who are still thriving, and are about to report a record profit for this quarter. Some banks got greedy, and they are mostly gone now, taken over by the more responsible banks. That is how capitalism works.

The consumer is just as much to blame as well. People walked away from their mortgages even though they could afford them, because they bought a house at half the price and just moved into that house instead. The consumers got greedy as well, buying houses much bigger than what they needed, knowing they couldn't afford them.

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My apologies... Maybe this should've been reserved for the politics section.

Anyway, I didn't offer my opinion because I'm not sure what I think yet.

This does scare me, for obvious reasons. However, I can also see where Obama could use it as a means for fixing A LOT of problems with our financial system.

As for the article.. Yeah, it's definitely biased. So take it for what it's worth.

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You all are forgetting that if we didn't have a central bank that has been artificially keeping interest rates down since the Clinton administration; in addition to having policies encouraging banks to lend to the less well off as a condition of their continued ability to receive money from the Federal government that this bubble would not have occurred.

Interest rates would simply have been too high for people to accept these stupid loans, the housing market would never have gotten so hot and housing prices wouldn't have been rising at the rate they were. Since there would still have been eligible people for regular prime mortgages who simply didn't want to get a mortgage because the interest rates were too high there would not have been a sub prime mess.

Blame the root of the cause, not its symptoms.

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Codex Amadeaus! Conficker! Pingas! :mind-blowing: :mind-blowing: :mind-blowing: :mind-blowing:

Illuminati! the Trilateral Commission! Majestic-12! Area 51! the Freemasons! the Stonecutters! the Council of 12! the New World Order! and the Vast Right Wing Conspiracy! :mind-blowing: :mind-blowing: :mind-blowing:

Edit: For Moltar

Edited by CadillacKing3
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PCS, PCS, PCS ... tisk, tisk. You've incorrectly evaluated me here, sir. Sure, the cars Australia has built is one reason I would like to live there, but there's something about the Australian attitude that makes me evoke images of what I think the American attitude used to be once upon a time.

I think not, like I said don't let the door hit you in the arse as you go ...

Oh and when you get there, please send me a pic of you when the Queen comes through and you curtsy to her on one of her Royal visits of your Commonwealth nation ... :P

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Codex Amadeaus! Conficker! Pingas! :mind-blowing: :mind-blowing: :mind-blowing: :mind-blowing:

don't forget the Illuminati, the Trilateral Commission, Majestic-12, Area 51, the Freemasons, the Stonecutters, the Council of 12, the New World Order and the Vast Right Wing Conspiracy :)

Edited by moltar
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Oldsmoboi ->>"When congress nationalized then Penn Central and other railroads....

This is exactly how the banking should work....

They clearly can't be trusted. Form Congressional National Bank...."<<

Key word: should.

Case in point: the US Postal Service- well over 200 yrs old, complete monopoly (aside from package shipping), pays no taxes, has 'gov-appointed' Postmaster (making $800K/yr), and still it lost $5 Billion in '07.

Medicare & Medicaid see $110 Billion in fraud per year. Percent of claims audited? 5.

Want to stimulate the economy AND save taxpayer money??? Offer training courses for auditors and clean up the putrifying sludge & waste in Big Gov. Hundreds of billions wasted there... but zero interest from those in Gov itself.

Time & time again Big Gov has proven itself radically underqualified for the job, little matter what that job is. Banking is too business-centric (of which they have no real experience) and too crucial to allow them to F that up, too.

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I think not, like I said don't let the door hit you in the arse as you go ...

Oh and when you get there, please send me a pic of you when the Queen comes through and you curtsy to her on one of her Royal visits of your Commonwealth nation ... :P

Memo to PCS: you haven't been around long enough to remember how things used to be in the United States during the 1950s and 1960s either. You've just been watching the &#036;h&#33; hit the fan longer than I have. :AH-HA_wink:

The truth is, if my foresight is 20/20, the America of today might look far better than the America of tomorrow.

In fact, America started it's downward spiral just as you were parading around in Pampers, i.e. the 1970s. I'm not saying that there's a connection, but ... ya know ... :P

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Memo to PCS: you haven't been around long enough to remember how things used to be in the United States during the 1950s and 1960s either. You've just been watching the &#036;h&#33; hit the fan longer than I have. :AH-HA_wink:

The truth is, if my foresight is 20/20, the America of today might look far better than the America of tomorrow.

In fact, America started it's downward spiral just as you were parading around in Pampers, i.e. the 1970s. I'm not saying that there's a connection, but ... ya know ... :P

Pampers, you forget I grew up in Germany, it's not uncommon to see little German kids (kinder) running around bare ass naked. But then we have different morals than Americans, nudity is not an issue in Europe at least not in the Germanic/Nordic countries. :ph34r:

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What's that I hear? Australia calling my name?

A friend of my wife's already uprooted her nuclear family

and moved from the midwest of the US of A to Australia.

She's urging her friends & family to follow suit. Julie told

me she's considering it. I told her to give me a date so I

can plan on stuffing the B-59 into a storage container.

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You guys dont think Australia will have the same problems America does after it gets filled with asshole Americans?

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