Of course, I’m a 25 year old OC native with little education…my disposition might change if I have no food, no job, etc.

“Not a single, honest middle class job will be saved.”

The first shoe to drop of a credit crunch. Caterpillar, (fucking Caterpillar!) could barely get their loans rolled over today. They had to pay up huge from just one month ago. If a firm like Caterpillar has to pay this much for debt god help any smaller firm who needs to roll over debt. And oh yeah, there is $800 in corporate debt that needs to be rolled over next month.

On the up side, maybe this will shake people’s rose-tinted glasses off their nose at last. It’s already got my Democrat friends talking like libertarians, at least about this topic. The coming entitlement disaster will dwarf the banking idiocy. Perhaps some good will come of this national ass-fucking after all.

“Yes, since as we all know, if we don’t bail out the super rich, the poor will magically become less poor right?”

You miss the point. The point is: Why do we reject socialism so vehemently, only to turn around and embrace it when it comes to the people who royally screw up running these financial institutions? How come it’s not OK for the government to pay the rent of a person who frittered away all his money, but it is OK for the government to pay hundreds of billions to the people who did basically the same thing?

I keep hearing that if we don’t do this, people will lose their pensions. Why are we allowing these institutions to hold pensions hostage?

We sure as hell weren’t talking about socializing any of these companies when they were making money hand over fist, when housing prices were skyrocketing. If we have to cover their downside, how come we weren’t sharing in their upside? If I have to write them a check to bail them out now, then how come as a taxpayer I wasn’t receiving checks from them during the fat years?

Lastly, if these institutions are so important to our well-being that our government is willing to rush in and help them, how is that different from a state-sponsored business? Why are we even acting like these are private organizations? When push comes to shove, they are not.

In a tougher , crueller world, all the white collar criminal cock suckers responsible for the financial mess would be lined up in their respective hierachies of power and shot in the head.

this is so boring its not even funny. go back to writing what you know, not pretending your at all qualified to discuss financial markets

Completely untrue. Doing the bailout will get the commercial paper markets moving again and get capital formation going again. Without the commercial paper market the economy will grind to a halt and money solvent companies will have to lay off employees.
It’s funny that Roosh is specifically advocating the same monetary policy that the U.S. followed right before the Great Depression whcih actually caused the Great Depression. Not funny as in ha-ha he’s advocating the entire destruction of the U.S. economy, but funny in the sense that he is unaware of even the basics of the financial history of the United States but confident in how he opines on it.

You know, there were people who made off like bandits during this ponzi scheme. The CEO of Merrill Lynch got something like a $60 million severance package. People like Angelo Mozilo, CEO of countrywide, one of the biggest subprime lenders made more wealth off this bubble than you could ever count. We should be going after them, instead of the taxpayer. They extracted the housing bubble wealth, they should be subject to a huge retroactive windfall tax. Why stick me with the bill? I’m a guy that lives in a small apartment and can’t even afford a house where I live.

These corporate asshole criminals that go on and on about the “free market” system and other such nonsense go squealing to Governments to bail them out when everything turns to shit.

What hypocrisy.

They are Criminals.

- MPM

The G Manifesto’s last blog post: Wale – I Will feat. Xscape.

Yes, since as we all know, if we don’t bail out the super rich, the poor will magically become less poor right?

For all intents and purposes, if the rich become poor, you’ll simply become poorer as the rich won’t have the money to employ your ass.

David Alexander’s last blog post: The Words Finally Have Meaning.

Dude, stick to writing about pick up,travel & personal development which is generally pretty good.
Your rant about the financial crisis bailout is naive & idealistic.

The government is bailing out the super-rich, at the expense of the poor.

They are taking our money to the tune of many, many, many thousands of dollars EACH.

They are taking our wealth in the most cowardly ways: by taxes aka gun-point (see what happens if you don’t pay) and the Invisible Tax (inflation).

They are handing this wealth to rich people. You know, the folks who have been gaming the system for years, leeching tons of capital while producing exactly NOTHING. Now when the fraudulent system they created collapses, they need us to… pay them?

Then the talking heads come on TV and tell us that it was necessary.

Necessary, just like the next massive wealth transfer from poor to rich will be necessary.

I understand you frustrations.. But you are misguided. This is no time for principal. The freakin house is burning to the ground, and you want to make sure that the drunk ass who left his let cigar by the gas tank gets punished. This country was about 36 hrs from a total run on the bank. People were pulling there money out of money market funds at a historical rate. The crashing of the market would have destroyed 100′s of millions of American’s retirement nest eggs. They talk of a 700 billion dollar bailout and without it, there could have been 5 trillion dollars in personal equity vanished. All those people with money in Vanguard, Fidelity, Putnam – it would have all been just about gone. I asked my co-worker where he had his money, he said the “Fidelity 2045 fund.” I printed out a year to date prospectus, his fund is down 21% and Fidelity is one of the most conservative money managers in the business. I thought he was going to cry. I asked him where he had his “safe” money? He said a money market. I said “those aren’t protected(this was pre-thursday – before the government offered to cover 1-1 principal in money markets) and he about shit his pants.

Dude – the country was about to implode. Total collapse. 20 years of hard work for many suburbanites would have vanished and they would have all been the last one out the door of their respective funds.

It was a titanic like ship, about to sink right to the ocean. You argue against a bailout, because you probably have under 50K in investments, you don’t have private sector job, and you Wachovia going bankrupt doesn’t effect you in the near term.

Over 50% of the country has 90% of their personal wealth (outside their home value) in that market.

It was about to crash. What they should do, in my eyes, is pick 3 banks, bail them out totally, and let everyone else fail. Trying to save everyone is going to result in saving nobody.

I say we bail out Bank of America, Wachovia, JP Morgan Chase and Goldman.

Thats probably 70% of the wealth. Then lets move on. Sorry WaMu – but its over.