PPPS. What was Bear Sterns private or public? On Sep 9, 1:09 pm, Frank <[EMAIL PROTECTED]> wrote: > Keith don't be like the others, they have not been semi-private for > some years. They have traded as private businesses on the NY stock > exchange. Congresses plan does not address the problem regardless of > what my political orientations are. Just because capitalism is a > system that has irresolvable inner-contradictions that result in > economic breakdown and war, (this is the third time in 100 years this > has occurred. Depression 1890's war 1914, Depression 1929 war 1939, > Depression 2009? war-in progress) does not automatically validate my > perspective. The inviability of capitalism and the viability of > socialism are not predicated one upon the other. > > At this stage all I can do is keep exposing the inevitability of > breakdown and the impotency not only of the US government by all > governments to improve the lives of humanity and not continually drag > them through the unnecessary evil of war. I am patient, as the > criminality and impotency of bourgeois politics is already being > exposed, (which head of state is not a criminal today) and it will > continue inexorably to its own demise, I won't have to do a thing > other than document it. So I am all a twitter myself as I watch the > degenerate state of US politics, mired in slander and innuendo and > devoid of serious political discussion drown in its own filth. > > PS Whether these banks are guaranteed or not matters little, the > meltdown is global, the 2 to 3 hundred billion pumped into these banks > will do absolutely nothing other than make the stock markets rise for > a few days and rob public works programs of funding. Long live > capitalism. > > PPS. A Socialists solution requires the complete rebuilding of society > top to bottom, completely changing the socio-economic relationship of > mankind. It is not a revised form of capitalism nor is it a band aid > or a quick fix. it is a long term permanent fix--a work in progress > > On Sep 9, 12:31 pm, KeithInTampa <[EMAIL PROTECTED]> wrote: > > > Uhm, P.A. obviously has no clue what the Hell is even going on > > here. > > > Frank, all of America is atwitter with excitement and anticipation, > > awaiting your alternative plan or suggestion, as opposed to what the > > Congress has agreed to commit to do.....The government coming in for > > the bailout of these semi-private corporations that are in fact, > > guaranteed by the federal government..... > > > On Sep 8, 10:16 pm, Frank <[EMAIL PROTECTED]> wrote: > > > > That's right, where do you draw the line? Ben Bernecke said recently > > > the Fed is in a position where it is going to have to decide which > > > banks are propped up by the Fed and which allowed to fail. There is a > > > huge contradiction which has to be acknowledge. If the Banks are not > > > propped up the US and the world economy will spiral into oblivion, no > > > one how many trillions in bad debts have not been declared, however > > > using taxpayers funds to bail them out is highly undemocratic by its > > > very nature. What gives the Fed the right to bail out big business > > > without asking those to whom the funds belong, while workers have no > > > right to tap into their own resources to help them out their > > > difficulties. > > > > Ultimately the bail out does nothing to ease the crisis. The crisis > > > has developed directly from the polarization of wealth (which is > > > caused by global factors) that has the result in increasing the > > > financial burden on the working class beyond their capacity to meet > > > their basic daily needs. Job layoffs will drive wages down even > > > further as the army of unemployed grows and business attempts to > > > maintain its profits in a volatile economy. Neither party can address > > > this problem as it is of global proportions. > > > > On Sep 9, 11:49 am, PoliticalAmazon <[EMAIL PROTECTED]> wrote: > > > > > Frank, the fact is if Gaar uses the argument that the two institutions > > > > are "taxpayer funded" because their bad loans have caused an increase > > > > in interst rates, then there are many other companies, such as > > > > CountryWide, which can be defined as "taxpayer funded." > > > > > ------ > > > > > On Sep 8, 2:49 pm, Frank <[EMAIL PROTECTED]> wrote: > > > > > > Gaar, > > > > > If the GES (which I only understand as a collective term for the two > > > > > banks) have traded as private enterprises for years, with implicit > > > > > government backing, in other words government backing was never an > > > > > absolute or formally guaranteed. it was implied at most. In fact one > > > > > was introduced as a competitor for the other (can't remember which > > > > > came first). > > > > > > Money for the bail out is coming from the treasury, in other words it > > > > > is tax payers money. It would be nice to see that $2-$300 billion > > > > > going to the tax payers (seeing it is their money)rather than the > > > > > banks that helped caused this dilemma > > > > > > You, yourself have never made claim that these banks are 100% > > > > > government guaranteed, only now that Palin has egg on her face you are > > > > > desperately attempting to cover her behind. > > > > > > everyone in America knows the status of these banks in relationship to > > > > > guarantees, everyone except for Palin it seems. > > > > > > On Sep 9, 8:27 am, Gaar <[EMAIL PROTECTED]> wrote: > > > > > > > You obviously don't know, or even understand what a GSE is... > > > > > > > Or that the Entity you are talking about was in FACT a Govenment > > > > > > Agency for 30 YEARS!!!! > > > > > > > Or that it HAS in FACT cost us, by the increase in INTEREST RATES > > > > > > they > > > > > > are causing by the Bad Loans they gave out. > > > > > > > Where the Hell do YOU believe the "Bail Out" money comes from? > > > > > > > On Sep 8, 3:24 pm, PoliticalAmazon <[EMAIL PROTECTED]> wrote: > > > > > > > > The scary part is this: she launced right into it, bold as > > > > > > > brass, and > > > > > > > made a fool of herself. She didn't know enough to even keep > > > > > > > quiet. > > > > > > > > ------- > > > > > > > > On Sep 8, 3:18 pm, Frank <[EMAIL PROTECTED]> wrote: > > > > > > > > > If she really believed them to be tax payer funded there is > > > > > > > > nothing to > > > > > > > > excuse such uninformed ineptness. How can she possibly be put > > > > > > > > in a > > > > > > > > position of trust. I must admit I thought Bush was a red neck > > > > > > > > simpleton the first time I saw him. I yelled out to my wife > > > > > > > > "come and > > > > > > > > look at the the redneck that has been elected president of the > > > > > > > > US on > > > > > > > > TV." How wrong I was, he has been a consumate president and > > > > > > > > statesman. > > > > > > > > > On Sep 9, 6:49 am, Gaar <[EMAIL PROTECTED]> wrote: > > > > > > > > > > It was in FACT a Government Agency that was "Privatized"... > > > > > > > > > > So it was in FACT started by Public Funding, and was even > > > > > > > > > still > > > > > > > > > considered a "quasi" Governmental Agency even after > > > > > > > > > Privatization. > > > > > > > > > > Your ignorance of its History notwithstanding. > > > > > > > > > > On Sep 8, 1:14 pm, PoliticalAmazon <[EMAIL PROTECTED]> wrote: > > > > > > > > > > >http://www.huffingtonpost.com/2008/09/08/palin-makes-her-first-gaf_n_... > > > > > > > > > > > On a campaign stop in Colorado, Palin said that FannieMae > > > > > > > > > > and > > > > > > > > > > FreddieMac have gotten too big and expensive to the > > > > > > > > > > taxpayers. > > > > > > > > > > > My God, she couldn't even read the headlines about the > > > > > > > > > > takeover? > > > > > > > > > > > Yep, that's what being a leader of Alaska does for > > > > > > > > > > you--makes you dumb > > > > > > > > > > as a freaking box of rocks. > > > > > > > > > > > No wonder they are keeping her away from real > > > > > > > > > > interviewers.- Hide quoted text - > > > > > > > > > - Show quoted text -- Hide quoted text - > > > > > > > > - Show quoted text -- Hide quoted text - > > > > > > - Show quoted text -- Hide quoted text - > > > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. 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