Where is FDIC?
By Arkie69
@Arkie69 (2156)
United States
September 27, 2008 11:28am CST
All this talk about the $700B bail out has all the ear marks of just another case of our Government putting the best interest of the rich first and I just flat don't agree with it. I say instead of setting these people that have probably wrecked this nation back up in the very business that has caused the problem we should be using that $700B to repay the people that actually lost their money. I am not talking about the large investors that played the odds by putting their millions in to these loan companies. I am talking about say from the top of the middle class all the way down.
Let the big investors loose their money. They simply took a chance and they lost now let them suffer the loss not the working man. Let these loan companies go under and put a bunch of the people that ran them in jail with the other crooks where they belong. Let this be a lesson to anyone that might get the idea to try this again in the future. The FDIC is to insure the people that put their money into banks won't loose it if the bank fails. It is not to protect the large investor that is playing their high risk games.
As always though the ones that can afford it the least are the ones that will loose the most. This has been the story of this nation far too long and needs to change.
2 responses
@kgroup (15)
• United States
27 Sep 08
Well, hopefully something can agreed upon on Capitol hill where the
taxpayer doesn't have to foot the entire bill for this bailout.
They better come up with a solid plan because disaster is imminent.
Even when both House and Senate had enough votes to push this $700B
bailout through they didn't do it because they were afraid to take the chance
because they didn't want the blame if it backfired.
And evidently they weren't really confident of that plan if they didn't pass it.
Pretty scary.
1 person likes this
@Arkie69 (2156)
• United States
27 Sep 08
You bet it is pretty scary. I think one thing that is holding up the process is they haven't figured out the best way to go to be able to put as much as possible of that $700B in their own pockets. When they have figured that out then they will pass something. I doubt very seriously if the people will like it but to these people that isn't important. All they are concerned with is doing anything they can to insure they are reelected. If it is legal fine and if it isn't it's still fine. I think they already know it won't work.
@ParaTed2k (22940)
• Sheboygan, Wisconsin
1 Oct 08
Why should the government bail out small investors but not big investors?
Class warfare crap!
@Arkie69 (2156)
• United States
1 Oct 08
I'm talking about the small investors that are putting a few dollars a month into some type of retirement fund. These large investors are playing a silly game knowing full well they are taking a risk and may indeed loosing their money. If they win they gain right? Then is it fair to the tax payers that these people still gain even if they loose? I don't think so. This is exactly what this bail out thing will do. If anyone is hurt by this crunch you can bet it will be the little man down here on the bottom that had nothing to do with causing this problem. If and tax dollars are spent to bail anyone out it need to be them, not the greedy crooks that caused it.
@ParaTed2k (22940)
• Sheboygan, Wisconsin
1 Oct 08
When people put money in a retirement fund, who are they giving that money to? The answer is, Large investors.
So what you are saying is, the people who pay others to make investment decisions should be protected, but those actually making the investment decisions should be hung to dry.
Basically you are really just saying that you don't give a flying fig about anyone you consider "the rich" and that the government should take care of people you consider "the poor" and "the middle class".
Which is why I'm saying that it's all just class warfare crap!
