What does everyone think...

Gato_Solo said:
Wait 10 years. Then your complaints will land you in a gulag somewhere in Barrow Alaska...
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only we're not russia. so, they ain't commies anymore, right, and look at how they're getting along. iron wang putin still wielding his peener all over.

china has made free market reforms yet... yeah... government guys still staking out highway rest stops to overhear those yearning for freedom in the stalls and jail them.

and then there's sweden, that bastion of penal socialism. they put so many people in jail for complaining, it was crazy.

but seriously the idea of the government owning banks to me - despite seeming odd in principal (ha ha) - will be like using an audio compressor, in that the signal will just be more level. peaks won't be as high, valleys won't be as deep. and in any case, clever peoples will find ways to make money around whatever system is in place. they always do.
 
Professur said:
UNASS - United North American Socialist States. They`ve already got a chunk of the mexico-canada corridor built
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And plenty of citizens from both countries visiting that it doesn't make a difference where the borders are anymore :D
 
catocom said:
exactly, less regulation, and more oversight.:beardbng:
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It is lack of oversite that got the US into trouble in the first place.

And it is the oversite Canada has that is keeping it out (mostly) of trouble, though we have to deal with the fallout of world markets, and the US fallout due to the fact that they're our closest trading partner.
 
paul_valaru said:
It is lack of oversite that got the US into trouble in the first place.
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i beg to differ.

consumer greed did as much as shady lendign practices. our stockmarket has been artifically high for decades. I have been waiting for it to correct. Now it will, and everyone living on borrowed money is going to feel it

our parents and grandparents, for the most part anyway unless youre from a filthy rich family, got what they had by earning it and living within there means. seems we dont want to wait. we watn the house and the boat and the new car and houseful of gadgets and perfect lawn now. As in over Nihgt. nothong wrong with that if you can afford it but most people cant so they borrow too much. when all the credit comes due at once it dont take a finacial wizzard to figure out whats goign to happen.

as far as the goverment goes, the less they get involved with anything the better off we are. when this county was founded the role of the goverment was clearly defined. Now they overstep it every day and no body seems to even know.

This whole mess is full of people to blame. American consummers are right there toward the top of thet list. Some Where along the way we lost sight of the line between want and need and between goal and right and between assistanse and entitlements. Now we get to pay for it whether we practised it or not in our own lifes. Liek everything else, some pay for the stupidity of others. No Body can tell me thats how it was designed but thats what its become. The ones I really feel sorry for are the teenagers. imagine how hard it will be for them to buy a house in ten to fifteen years.
 
In all seriousness, your GVT didn't have much of a choice BUT to nationalize certain banks (They're not nationalized...just partially owned - like a PPP). The mortgage crisis is nothing next to the credit crisis which it helped bring about. Fanny and Freddie weren't the last straw tho', nor the heaviest.

Lehman Brothers was the heavily weighted straw that broke the back...when they went down overnight, they defaulted on a butt-load of loans. Their fall took down a lot of other banks' assets/credit.

If the 9 'nationalized' banks were allowed to fall, the recession would be far deeper and longer than it's likely to be now. The bailed out banks ($850B Banks) are likely to hold onto the cash they receive over the next few months...and I don't see it (the money) really circulating anytime soon. Eventually, they'll loosen up and credit/loans will begin to flow once more....but if another HUGE bank like Lehman's is allowed to go down...then the $850B won't be enough to loosen the market enough for recovery.

It may sound like socialism...but it's not really that charitable.
 
Bish, you're making two unwarranted assumptions. The first is that the government won't treat the banks as if they've been "nationalized" (their calling it something else doesn't change what it is) and that the government will do a better job of running (or at least overseeing) said banks. You're right about one thing though, socialism implies an interest in the greater good which doesn't exist in this case.

The current administration is clueless and each of the candidates' "plan" for dealing with the crisis promises to make it worse, not better over the long run. I frankly don't hold out much hope that there won't be a very deep and long recession.
 
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