Bailout question 101: Who's greed are we paying for?

[RiverStone]

I can't wrap my mind around this.

Not only because I have never been much of a math person, but lost in the vast stretch of numbers is how we reached such a financial precipice so quickly. How could BushCo not see this train wreck coming?

I'll admit that I really don't even understand WTF is going on. With all this talk of doomed mortgage securities held by banks, there must of been a handful of CEO's (greedy bastards) that knew exactly what could happen, but did not do a damn thing to stop it.

Now we are rushing to avoid a financial catastrophe (according to Treasury Secretary Henry Paulson) with this crazy high $700 billion bailout.

There should be blame and the voters are paying attention. Keeping it simple for those without an economist background, who's GREED do you blame for this mess and is there any way to hold them accountable?

Lets just hope the rethugs pay dearly at the polls for this financial Katrina. :mad:

[rurallib]

1. I believe Bushco not only saw thius coming but made it happen

Wrecking the economy is part of the plan to transfer tax dollars to the rich while starving the government so there can be no social programs. Not only to starve a potential universal health care, but medicare, social security and education and whatever is left of welfare.
I have been saying this for years. This is Norquist's "drowning the government in a bathtub." This was also why we went into Iraq. There was never any plan to leave. As long as we are there they can pass our money to their buddies under the guise of "war" against "terrorists".
This is the ultimate rip off. They essentially told us they were doing it. Our reps went along. They stole the money in broad daylight while the media gave them cover.
The last part of this involves yet one more stolen election........

[RiverStone]

3. This is why we can't have a close election...

But we need to kick the pukes ass enough to escape the polling margin of error - and/or capacity for voting machines to steal another election.

Your analysis rurallib could be read as simply cynical, but based on the evidence at hand - I think your view has lots of merit. This is the ultimate rip off! But who's GREED got us there? And how could they hide in plain sight for so long?

[rurallib]

4. I have been writing this for about 5 years

Iraq was never about democracy or terror etc. It was a place where Bushco could fight a phony war and use it as an excuse to transfer wealth from the government to their buddies. Had it been a really, really war they would have actually raised taxes. But they lowered taxes for their buddies to more quickly drain the treasury. Evey thing they have done has been to drain the treasury, pass it to their buddies, break unions and help contributors eliminate competition.
And when they are done there will be nothing left for anybody to create any more social programs and most likely they can dismantle the few that exist in any vigor.
When I kept hearing Bush say "ownership society" I smelled something stinky, but couldn't put my finger right on it.
What banker in their right mind lends mortgage money 0 down and no job?
And the media, has given cover. Many of the cable talking heads continue to blame borrowers., again giving the true thieves cover.
This has been this biggest bunch of thieves in history, doing it in daylight, dare us to do something about it and get the cover of the media

[BanzaiBonnie]

2. They have known for years that this time would come.

I've known about this coming for at lest three.