OT: nationalization of american banks?

[1bad65]

And you failed to answer the question:

Isn't nationalization what Hitler, Stalin, and Mussolini did?

[BoulderDawg]

And it was not capitalism that failed here. It was government intervention. Government, through the CRA, FORCED banks to make bad loans. Then government backed the bad loans! The housing mess is the root of the mess we are in now.

You still need to attend that Econ 101 class.

[uki]

You want the average American to live on like $260/month like the average Cuban does?

i have been laid off since november, spring doesn't look to hot yet... after they deduct what they can out of my UC benefits for child support(1 child with my ex and i am ordered to pay 498/month, heck i have two full time kids at home!) my bi-weekly UC check is 90 bucks, thats right folks, $180 dollars a month. good thing the house is ours or we'd be frigg'in screwed... and thank goodness the girlfriend works part-time. i love it when hear people complaining about having it rough.

[1bad65]

i have been laid off since november, spring doesn't look to hot yet... after they deduct what they can out of my UC benefits for child support(1 child with my ex and i am ordered to pay 498/month, heck i have two full time kids at home!) my bi-weekly UC check is 90 bucks, thats right folks, $180 dollars a month. good thing the house is ours or we'd be frigg'in screwed... and thank goodness the girlfriend works part-time. i love it when hear people complaining about having it rough.

You live on $180 AFTER child support and bills. The average Cuban makes ~$260/month in wages. Do you have government imposed milk and food rations? The Cubans do.

There is a huge difference.

And like I tell anyone defending Cuba, you are free to go there and renounce your US citizenship and live under the same rules as the other Cubans do.

It is sad to hear you lost your job, I wish you luck in finding a new one. What is your field of work, if you don't mind me asking?

[golgo]

My understanding of this form of nationalization is that it would not follow the Japanese model (which took many years to have its desired effect) but more like the Swiss model. After the banks are more stable they would be auctioned off to the highest bidder. I'm not saying that is the right approach - just reiterating what I have heard.

[BoulderDawg]

And like I tell anyone defending Cuba, you are free to go there and renounce your US citizenship and live under the same rules as the other Cubans do.

It is sad to hear you lost your job, I wish you luck in finding a new one. What is your field of work, if you don't mind me asking?

Dam right dude....Like Bad said, If you don't like the fact you lost your job then F you....move to Cuba!

After all we all know that Bad is correct. Only the lazy no-good do not have jobs. It's time we sent to whole lot to Cuba...see how they like it...Right Bad?

[Reverend Tap]

Dam right dude....Like Bad said, If you don't like the fact you lost your job then F you....move to Cuba!

After all we all know that Bad is correct. Only the lazy no-good do not have jobs. It's time we sent to whole lot to Cuba...see how they like it...Right Bad?

Um...did you actually read his post?

[David43515]

Dam right dude....Like Bad said, If you don't like the fact you lost your job then F you....move to Cuba!

After all we all know that Bad is correct. Only the lazy no-good do not have jobs. It's time we sent to whole lot to Cuba...see how they like it...Right Bad?

Typical. If you can`t refute what someone actually says with logic and facts, it always pays to misquote them.

[BoulderDawg]

Typical. If you can`t refute what someone actually says with logic and facts, it always pays to misquote them.

To start with, Where did I misquote Bad? That quote word for word what he said.

Also, Uki was telling about his personal life....I didn't hear anything in there about comparing himself with someone in Cuba. I'm sure Uki has enough troubles without giving an S what the average Cuban makes or what Bad is telling him to do.

I'm sure you Neos could care less though. Any time someone complains about conservative ideology it's always "If you don't like it leave". Guess what guys this country belongs to everyone.

[uki]

You live on $180 AFTER child support and bills.

after child support only... they deduct 55% or which ever is lesser... my UC is 180 a week, i get 90 dollars every two weeks to pay for bills.

The average Cuban makes ~$260/month in wages. Do you have government imposed milk and food rations?

my girlfriend collects food stamps, thank goodness.

There is a huge difference.

not really... cost of living is cheaper in cuba and they recieve free healthcare. i cannot afford a monthly premium for insurance... it's like 60 bucks just to get a doctors visit.

And like I tell anyone defending Cuba, you are free to go there and renounce your US citizenship and live under the same rules as the other Cubans do.

i wish i could renounce my citizen to any country and simply become a simple inhabitant of earth.

It is sad to hear you lost your job, I wish you luck in finding a new one.

i didn't actually lose it per se, every winter i get laid off due to the weather and tempatures... i usually start back up in march.

What is your field of work, if you don't mind me asking?

i am a mason... block, concrete, stucco stone, natural stone, flagstone, dry stack, brick, and just about everything else done with cement or concrete besides poured walls. i am the not quite the lowest guy on the totem pole and my boss gives me side jobs such as patios to do when he's too busy... i have a 1000ft patio in waiting to be done for a fellow once it warms up... at my own house i have 14 yards of concrete poured, over 1000 square feet of patio, 1/3 of it is flagged wet with 2 inch stone, it has a stone table that took 7 people to lift and set(it weighs near the half ton range)

i like my work, it keeps me in shape.

[David Jamieson]

Canada has highly regulated banks that are controlled in their functions by federal law. In essence they are more or less nationalized institutions. The Bank of Canada itself was nationalized in 1938.

it is worthy of note that in this huge economic crisis the world over Canada is the only developed country that hasn't had a bank failure and hasn't propped up any of it';s banks with tax dollars.

Some of you might want to rethink your reaganomics on regulating your banks.

It is because of the removal of regulation, by Reagan btw, that the entire free market capitalist system was eroded. It has to be regulated in order to offset the tendency for greed and corruption.

[sanjuro_ronin]

Canada has highly regulated banks that are controlled in their functions by federal law. In essence they are more or less nationalized institutions.

it is worthy of note that in this huge economic crisis the world over Canada is the only developed country that hasn't had a bank failure and hasn't propped up any of it';s banks with tax dollars.

Some of you might want to rethink your reaganomics on regulating your banks.

It is because of the removal of regulation, by Reagan btw, that the entire free market capitalist system was eroded. It has to be regulated in order to offset the tendency for greed and corruption.

Our chartered banks have regualtions they must follow in regards to % of investments in volitile markets, such as real estate.

[sanjuro_ronin]

I'm 37.

Right is right, and wrong is wrong. I've asked repeatedly for someone to show JUST ONE example of government social spending ending a recession or depression. No one has. Yet I've shown where Reagan and JFK (A Democrat) both ended recessions with massive tax cuts.

You want a current country? Ok. Cuba has nationalized banks. You want that here? You want the average American to live on like $260/month like the average Cuban does?

And it was not capitalism that failed here. It was government intervention. Government, through the CRA, FORCED banks to make bad loans. Then government backed the bad loans! The housing mess is the root of the mess we are in now.

And Stalin was only an ally because of a common enemy. He needed us and we needed him. Look at what happened to Eastern Europe after WWII. It was Stalin who took over those countries and looted them, it was the West who condemned him and formed NATO to stop the FORCIBLE expansion of the Soviet Bloc.

First, stop talking about what you THINK happens in other countries you have never been to.
That said, you are correct, no country has ever spent their way out of a recession by govermental means.
One of the reasons I was ****ed at Obama's speachw as because he did the stupid " its gonna bet worse before it gest better" crap.
ERROR.
The only thing that stops a recession is consumer confidence and spending, period.
Scare the consumer, take it in the ass.
Just how it is.
They need to instill confidence in the consumer, get him back to spending and buying, even if only a little, then we will have a turnaround.
GM and Chrysler are dying because people are NOT BUYING their cars, period.
All the cuts and crap won't make a difference if people don't BUY their cars.

[David Jamieson]

Our chartered banks have regualtions they must follow in regards to % of investments in volitile markets, such as real estate.

yes they do, and they are highly regulated in almost all areas of their functions.

the losses people saw in their rsps and such are strictly coming from other markets.
an rsp for you mercan folks is like a 401k.

on average, the loss to investments was about 20% for most people and the rest is good to go, insured or protected through regulations.

gotta love canada! woot!
Canadian Banks ftw! lol

[1bad65]

First, stop talking about what you THINK happens in other countries you have never been to.

Are you denying the average Cuban makes ~$260/month? Are you denying they have forced rationing of food?

That said, you are correct, no country has ever spent their way out of a recession by govermental means.

Thank you. The sad thing is that our current President is ignorant of this fact.

One of the reasons I was ****ed at Obama's speachw as because he did the stupid " its gonna bet worse before it gest better" crap.
ERROR.
The only thing that stops a recession is consumer confidence and spending, period.
Scare the consumer, take it in the ass.
Just how it is.
They need to instill confidence in the consumer, get him back to spending and buying, even if only a little, then we will have a turnaround.

Proving my assertion that we elected a guy who is flat-out not capable or competant enough to do the job. Remember, I've said I think Obama may make Carter look like an economic genius. And at the rate we are going, the deficit in 4 years will be a record high, yes even higher than under George W Bush.

GM and Chrysler are dying because people are NOT BUYING their cars, period.
All the cuts and crap won't make a difference if people don't BUY their cars.

You completely left out their enormous labor (read UAW) costs. Remember, the Chevy Silverado truck is the #2 selling vehicle in America, and the Chevy Malibu was the best-selling passenger car in America in 2008.