Can you imagining mismanaging your small business to the point of failure. You mess up the books, don’t budget, and take major risks that don’t pan out. Your business fails and just as you are closing shop a check comes in the mail to let you know that you have been bailed out! Keep doing what you are doing. Don’t worry about it. Uncle Sam loves you so much that he will fix it. That would be crazy.
If this $700 billion package goes through I think we at least need to put the recipients on a 30 year term at 5% for a 100% repayment. Then give that 5% back to the taxpayers through tax cuts to go right back into the economy.
Another thing you won’t hear from McCain or Obama is that some of the voters are also to blame for this. It is not just a corporate problem. We have a massive problem with greed in this country. People bought homes they couldn’t afford, ran up credit card debt at 20-30% and speculated on risky investments. This is a Wall Street + Main Street problem. That doesn’t get you votes but it is the truth. When Missy and I bought our home we were terrified. It was well within our price range even if one of us were to be out of a job. Yet signing for this home was one of the scariest things we have ever done. We pay our bills, contribute to society, and do our part. I am not asking for any kickbacks. I am asking that we don’t reward the people who have abused the system to the detriment of the country. The bottom line is – don’t reinforce greed and stupidity. What message does this send to the next business that is considering risky and subprime investments? Sounds to me like “go right ahead because the tax payer will clean up the mess.”
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According to the Daily Show, I could buy 2,000 McDonalds Apple Pies for every American 🙂
It’s really a mess, isn’t it
I would invest the money in a fashion very similar to how the US govt. wants to invest it. Of course I’m an individual and not the government and if I had $700B it wouldn’t be money belong to the US people.
I would purchase a hill, and build the world’s largest pink elephant, visible for many miles; just because I could.
I better buy some stock in McDonalds just to hedge my bets.
My wife and I were talking about this a bit this morning. She mentioned to me that her aunt was one of the recipiants of one of those loans, and got it at a time when the rest of the family was having to buy her groceries for her. None of us could believe she got approved, because there wasn’t any evidence that she was going to be making the payments (i.e. NO INCOME). Ask me how that makes sense? Well, it doesn’t, and now you and I are paying for it.
The F.B.I. is now investigating all this stuff for fraud – someone at the top was making major money.
I hope they find their way to the hooscow.
Hey! Whadda ya know! McDonalds raises their quarterly dividend:
https://www.usatoday.com/money/industries/food/2008-09-25-mcdonalds-dividends_N.htm
I guess I’d say that the fundamentals of their apple pies — apples, cinnamon, pastry, etc. — are strong.
In my best John McCain voice while doing the nifty point at you with my thumb trick while I move my hand like I am slowly slamming it on the podium – “By fundamentals, I mean McDonalds.”
You forgot “My Friends, …”
Throughout history, greed has taken its toll and it now seems that the toll collector has come to claim his toll again.
-Rex