Should we help out the Aristocrats in their time of need???
This could make the difference for some between flying in a private jet or having a seat in 1st class.
2007-11-08 04:27:04 · 8 answers · asked by Guerilla Liberal fighter 3 in Politics & Government ➔ Politics
No!!!!!!!!!!
Here is the ONLY answer to the mortgage crisis.
GREED. Greed by lenders, buyers, investors and sellers.
People go in over their heads with interest only loans while trying to flip properties.... and then suddenly there was a glut of homes in the market and it ground to a halt.
Now all of these investors are stuck with the property.... They bought high and can't get out. Now the interest only loans are coming due and they can't afford it.
And buyers did the same.... and they can't afford it.
It is NOT the government's fault.
2007-11-08 04:30:32 · answer #1 · answered by Anonymous · 3⤊ 0⤋
The bottom line to all of this is that it will unquestionably have an economic impact on all of us! So what do we do? Are we the "taxpayer" not to bear some of the blame for allowing this situation to happen in the first place? Look I know it all sucks....nobody's going to be happy when all is said and done. But there has to be a united effort to control the extent and rate of damage this crisis has on the future of our country and its economy.
The unfortunate facts are that 'we the people' have not ourselves enforced enough oversight into this industry of "The loaning of money"! As Americans we have to recognize which industries which are, however vital to our lifestyles, are in fact if run recklessly and without strict oversight and guidelines , could potentially cripple this country. In these days and times their should be much more government oversight in all countries in regards to Banking, Education,Waste, Agriculture and Transportation.
As the worlds population has grown exponentially with communication gaps disappearing right before our eyes, all of these factors have to be considered at much different levels of awareness!
Sure I am just as pissed as you knowing that some unassuming, soft but smooth talking CEO gets a five million dollar bonus for LEAVING a company, after taking twice much from investors! But I am just as disappointed in us Americans who have become so greedy and money oriented that we will ignore signs of risk and unsureness!
So no I don't think we should in some way bail out these private jet flying criminals.....no! Send their asses to jail where they belong! But to think that this will not effect us and our pocketbooks is unreal! We have to be ready to help our country even if it means higher taxes. I just want us to learn from this whole thing and get more involved and aware of who we cast our votes for!
This is on us!
2007-11-08 13:03:01 · answer #2 · answered by CSnumber1 3 · 0⤊ 0⤋
no.
i'm an investor with a small portfolio and one thing that i notice is that when guys like me make an investment and lose, we are told that we knew that there were risks when we made the investment.
well, citi bank knew that there were risks in this sort of investment.
they lost and therefore they should lose.
if they go out of business, it's just one less amoral corporation in the world.
but really we all need to ask this:
would citi group help YOU in your hour of need?
i doubt it...
2007-11-08 12:34:35 · answer #3 · answered by nostradamus02012 7 · 2⤊ 0⤋
Give the investors a corporate tax cut. It is the best idea for the government to stop stealing money from the market.
2007-11-08 12:30:18 · answer #4 · answered by Anonymous · 1⤊ 1⤋
Investment comes with risk.And you should remember this,while you ASSUME that the ones taking the hit will be the "Aristocrats" you should hope and pray that your 401K fund manager did not invest in subprime funds.Wouldn't it be a shame if YOU lost your money?
2007-11-08 12:35:39 · answer #5 · answered by Anonymous · 1⤊ 1⤋
No. The executive (CEO?) who is walking away with $147 million should be walking away with a little less cash, don't you think?
There is another exec walking with $47 million. They need to fork over the cash.
No more government bailouts for the rich.
2007-11-08 12:40:30 · answer #6 · answered by Unsub29 7 · 1⤊ 0⤋
We don't do anything for Ford or GM when they lose $30 billion in a reporting period. Why should City Bank be any different?
2007-11-08 12:30:46 · answer #7 · answered by Anonymous · 3⤊ 0⤋
You're about a month too late.
bush already pumped 48 BILLION dollars into the system to "shore up" the greedy lenders.
Didn't really help, did it?
2007-11-08 12:36:39 · answer #8 · answered by Anonymous · 0⤊ 1⤋