Quote:
Originally Posted by marketsmart
i dont believe the credit markets would have collapsed and i dont care what anyone in banking or govt has to say otherwise. we will never know because it didnt happen..
what i do think is that this made up collapse was a way for the banks to shift all of their toxic debts off the books and get the govt to clean up their mess..
banking executives made billions off of the derivitive market basically committing fraud by selling assets as A rated when they were in fact D- at best..
banking C's ceo' cfo etc.. should have been sent to prison..
but instead the govt cleaned up the mess with taxpayer money..
on top of that, the fed continues to give banks money at 0%..
that is utter bullshit..
i can go on and on.. but this is why i would have let the banks fail because in reality i dont think anything would have happened.. this was a controlled demolition of taxpayer money..
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Totally... Many people forget a bank can't really fail unless the reserve fails. They're absorbed into the single corporation that they all fall under, the federal reserve. A bank simply creates separation between the citizens and the central bank. So them failing, just goes right back to the fed either way. Let'em fail!!!
Bailout wise, let's also not forget to point out that we bailed out international corporations, banks, and insurance companies, that were not located in America at all.
Another one that should have failed is the Airlines. But it was played off as the Industry, when the Industry wasn't dead. The few good ones, which are rather good, would have came out strong, but this stopped them from doing that.... I would have love to have seen it happen, I still want it to happen, it still needs to happen.
Auto Industry should have failed as well, if they were going to bail anyone out it should have been the companies that backbone off of them, that hire a major amount of the work force - in America. We have more than the big 3, two could fail giving us one big one and plenty of small ones. If they really wanted to help, they should have invested in already smaller established, American car companies matching those with backbone companies, that could have used the money to manufacture more cars, thus creating jobs, and holding them when they could meet the demand.
The last bailout happened so damn fast... how anyone knew what could have or would have happened, on either side of the fence, is beyond me. And we can see now, theft of our tax dollars is exactly what happened - and enough reason to why it shouldn't have happened.
Edit: I forgot one, wall street firms... fail bastards, fail.. they shouldn't have been allowed to stay alive. Don't care who backs our mortgages at banks, that's part of the reason we had the issue in the first place... let'em all fail then close the rest of them down for just being douche bags.