SoulGlo on November 24, 2008 at 6:53 PM

Let me get this straight… a private business fails because of their bad decisions and investments. You blame that failure on the Government for “letting it happen.” That’s absurd.

The “good news” of the Citigroup bailout, such as it is, is that this one’s guaranteed to do some good only because the consequences of Citi failing are so enormous.

The consequences of the U.S. Government failing are more enormous. $3TT deficits are not sustainable.

Karl Marx would be proud of Bush and the rest of our POS government.

FloatingRock on November 24, 2008 at 5:33 PM

I concur. He would be very pleased. Actually kind of warms my soul too. You know the soul that Clueless George thought I had.

First Great Socialist Leap Forward – Franklin Delano Roosevelt (FDR the First).

Second Great Socialist Leap Forward – George Delano Bush (FDR the Second).

Third Great Socialist Leap Forward -Barack Delano Obama (FDR the Third). Oh wait!!! Doesn’t look like there will be much left for him to do.

I hope you idiots cheering the bailouts to “save” everyone realise we’re gonna wipe out the currency (these banks have TRILLIONS of worthless assets for us to backstop) and become Zimbabwe. Get reading for hyperinflation, massive unemployment, civil unrest, martial law, price controls, rolling blackouts, shortages and out of control crime.

lodge on November 24, 2008 at 5:26 PM

very true…we’re slouching towards zimbabwe…trust me, I’ve been there….

right4life: enough with the ‘fascist state’ nonsense. The Left has been doing it for years, and I’m altogether sick of hearing about crypto-, psuedo- or any other kind of fascist. Generallisimo Franscisco Franco is dead.

troyriser_gopftw on November 24, 2008 at 5:24 PM

its not nonsense. take a look around its whats happening right now. fascism is a government/private company partnership. first the banks, next the auto companies.

get a clue.

It is not meaningless to this community, without it a lot of businesses here in southern Indiana would be in trouble.

Terrye on November 24, 2008 at 5:22 PM

ok since your bank doesn’t need a bailout why do all the other banks?? hmmmm??? sigh.

Prove Bush is not creating a fascist state? Why don’t I just prove I am not an alien from another planet?

Do you even know what a fascist state is? I think not.

Terrye on November 24, 2008 at 5:19 PM

I just explained what it is. you really are a moron. duhhhhhh

Every single person who was financially irresponsible enough to live off of a home equity line needs to be slapped around so they don’t do it again, it’s the only way human beings learn anything.

I know, that answer sucks, but life isn’t fair, and we’re killing ourselves trying to make it fair.

Yup. Let’s give Obambi the wheel right now. Bring on the crashing into the tree.

I’m sorry, I don’t buy the “sky is falling” argument that these companies use to justify the bailouts. If anything the government should get the hell out of the process entirely and let recovery happen naturally. The recovery will happen much faster and the bleeding will be less if the government stays out of the situation.
Remember, the depression worsened after FDR got the government involved.
By propping these companies up we just insure that they will not clean out the people and policies that caused the situation. There is a “Darwin Factor” at work in healthy economys. Let nature take it’s course.

conservnut on November 24, 2008 at 5:44 PM

The government does not run anything efficiently including the military. The military operates most efficiently when politicians stay away and let the soldiers do their job.

Karl Marx would be proud of Bush and the rest of our POS government.

FloatingRock on November 24, 2008 at 5:33 PM

Karl Marx did have one thing wrong. He thought the monopoly and super-companies were the highest form of capitalism. History has shown that they are generally very inefficient forms of capitalism as shown by AIG and some of the other super big institutions. More recent history highlights this. Unfortunately, we can’t let them all fall at once. The economy can’t restructure that fast. So this is a way of giving them a soft landing and hopefully some of the smaller firms can step up to the plate and take over once the dust settles.

I don’t think the steps they are taking are marxist at all. This is to get us through something that threatens all our markets.

It’s hard to see it that way when looking through the prism of ideology but step back and look at the broader picture. The aim is to keep the whole thing afloat rather than watch it sink and start from scratch (going back to barter and turnips as a cash substitute).

Remember, the depression worsened after FDR got the government involved.

conservnut on November 24, 2008 at 5:44 PM

I would add:

It worsened for years and years and years, with no end in sight until WWII forced production. But then, the real part was after WWII, when there were no industrial competitors to the US and we were the only game in town. That is not what we have today … not yet :)

Probably give him at least a C+.

thomasaur on November 24, 2008 at 5:36 PM

Yep. Not a perfect score, but still, not bad.

It is not just being funneled to the taxpayer and if they don’t this and this bank goes under the government will get stuck with the costs anyway, only it will be worse.

Worse than what? There are economic issues and there are monetary issues. The government has put itself (us) on the hook for more money than we have. Bankrupting our government and destroying our currency is never prefereable.

What do you think will happen to all that debt? Do you think it will just disappear?

Terrye on November 24, 2008 at 5:33 PM

It was private debt that would have been handled in the private sector. Now it’s government debt (effectively) that is charged against “The full faith and credit” of the US, which is all the government has. Without faith, we have no government … not a government that can operate without guns on the street to force back some of that “faith”. Take your pick.

Karl Marx would be proud of Bush and the rest of our POS government.

FloatingRock on November 24, 2008 at 5:33 PM

Probably give him at least a C+.

Karl Marx would be proud of Bush and the rest of our POS government.

…and some of the commentators here, too. :)