Large Scale Central

700 billion dollar bailout

http://www.brasschecktv.com/page/187.html

Gee Whiz Ken.

If you appreciate that sort of humour you might turn into an old fashioned Bolshie after all. :wink:

You might also like to watch this sometime for an idea of how the Europeans live it up. http://www.answers.com/topic/the-gravy-train-film

Ken Brunt said:
http://www.brasschecktv.com/page/187.html

Very good Ken. When they talked about jumping in panic out the window, the reasons that doesn’t happen a) wisely all those tall buildings have non-opening windows (crank up the AC a bit more will you! It’s hot as Hell in here!) b) the top brass grabs their golden parachutes and takes the elevator to the ground floor (that is the same ground floor they let you in on those terrific deals).

(http://www.clicksmilies.com/s0105/teufel/devil-smiley-023.gif)

Tony,

I do appreciate the humor, but as to turning into a Bolshie…my humor doesn’t go that far…:wink:

http://www.deadlinehollywooddaily.com/mystery-of-missing-snl-bailout-skit-explained-nbccom-took-it-down-for-legal-reasons-will-put-back-up-edited-version-today/

<~~~~~~~~~~~~can’t afford a dentist and don’t qualify for “charitable organizations”…go figure…guess that leaves me “lower middle class”…but I can help pay for a “retreat”…

I’m still trying desperately to find the picture, but I remember from a business class I took decades ago about a famous advertisement picture for Soldiers’ and Sailors’ Bank of New York (I think) from the early 1900s. It had soldiers in formation, and a great battleship with all her pennants flying… Except somebody at the ad place had a wicked sense of humor, the pennants spelled out “Keep your money in your mattress”…

Here is one Democrat’s inside take on what happened. Don’t disregard this just because a Democrat is giving you the time line of the events. He is telling us several things about the Fannie and Freddie deal I wasn’t previously aware of.
He is US Congressman from NC. and former NFL quarterback Heath Shuler.
Interesting read.
Ralph

http://www.blueridgenow.com/article/20081017/NEWS/810160249

The part that is left out is the Community Reinvestment Act which was forcing banks to make these bad loans based on quantity, not quality. The had quotas to fill and their ratings were based on those quotas. They were forced to make what were called 'Ninja" loans…“No income, no job, no assets” to people who couldn’t afford them.

In October of 2008, Congress passes a “bail-out bill” to give more than $700 billion to Wall Street to rescue them from their investments in sub-prime mortgages – mortgages that had been aggressively encouraged by the government itself for 15 years. The bail-out bill includes over $112 billion in “pork,” including $6 million in tax breaks for wooden-arrow manufacturers in Oregon, $148 million in tax breaks for wool-producing companies, $128 million in tax breaks for the manufacturers of car-racing tracks, $10 million in tax breaks for small television and film producers, $223 million in tax breaks for Alaskan fishermen, $33 million in tax breaks for corporations operating in American Samoa, and $192 million in tax breaks for rum producers in Puerto Rico and the Virgin Islands. Both Obama and his opponent, John McCain, vote for the bail-out bill.

Ken I thought you liked tax breaks, and were in favor of less taxes being paid!

Like you I think the bailout bill stinks

I’m all for less taxes, I’m against a a gov’t trying to “fix” a problem they created.

Ken Brunt said:
In October of 2008, Congress passes a “bail-out bill” to give more than $700 billion to Wall Street to rescue them from their investments in sub-prime mortgages – mortgages that had been aggressively encouraged by the government itself for 15 years. The bail-out bill includes over $112 billion in “pork,” including $6 million in tax breaks for wooden-arrow manufacturers in Oregon, $148 million in tax breaks for wool-producing companies, $128 million in tax breaks for the manufacturers of car-racing tracks, $10 million in tax breaks for small television and film producers, $223 million in tax breaks for Alaskan fishermen, $33 million in tax breaks for corporations operating in American Samoa, and $192 million in tax breaks for rum producers in Puerto Rico and the Virgin Islands. Both Obama and his opponent, John McCain, vote for the bail-out bill.
Ken, Maybe you miss the point. Each time they told Congress one thing to get the money, then did something different once they got the money. Three days before they dropped the $700 billion bomb, they were telling Congress everything was fine. Ralph