In the taxpayers interest

Discussion in 'West Mall' started by ZenSip, Oct 5, 2008.

  1. ZenSip

    ZenSip 100+ Posts

    If we the taxpayers and of course the future generation of taxpayers are gonna bail out the financial markets, why shoud we not be entitled to representaion on the boards of companies helped/saved? Why should we not be allowed some areas in which decisions can be vetoed?
    On the one hand do we not have socialism, and on the other do we not have the rape of the taxpayer to the advantage of the already wealthy?
    And yes I know it is to the benefit of the economy and therefore all of us not to have more recession/depression. But which "class" benefits more? And who does the middle class really have to represent their interests?
  2. EuroHorn

    EuroHorn 2,500+ Posts

    It's called being a shareholder. Go buy some stock of a distressed company
  3. groverat

    groverat 2,500+ Posts

    A suggestion that only makes sense if you have money to invest.

    Taxation without representation, indeed.
  4. EuroHorn

    EuroHorn 2,500+ Posts

  5. ZenSip

    ZenSip 100+ Posts

  6. EuroHorn

    EuroHorn 2,500+ Posts

  7. MaduroUTMB

    MaduroUTMB 2,500+ Posts

  8. EuroHorn

    EuroHorn 2,500+ Posts

    I am not disputing his or your point. My point is simply this. We pay for all kinds of things that our government decides is in our best interest to spend money on. Happens every year. That is what they do.

    Congress represents us on everything they vote for, so in theory it was with his approval. That is why they are called representatives.

    I don't like paying into SSN nor do I support the government adminstering and providing national healthcare. But guess what? I get to or will pay for it.

    Some people might argue that the bail-out was not in our best interest and others will say it was. Just like some people contend SSN is a great thing and some people think that national healthcare is wonderful.

    So now you and I own a bunch of low-priced mortgages. Maybe people will learn a lesson from this in that you don't have the right to buy a house and that having a requirement to put 20% down is not the works of the evil banking empire.

    So what are you or I going to do about it? Go vote and enjoy your sub-prime mortgages.
  9. Fried JJ Pickles

    Fried JJ Pickles 1,000+ Posts

  10. EuroHorn

    EuroHorn 2,500+ Posts

  11. Back to Texas

    Back to Texas 250+ Posts

  12. YoLaDu

    YoLaDu Guest

  13. hornpharmd

    hornpharmd 5,000+ Posts

  14. ZenSip

    ZenSip 100+ Posts

    By the way, did anyone forget to mention that the problems will take a while to correct, and in the meantime the financial markets are gonna have to find a lot lower level. Not to mention that when banks get the funds they will probably park them and not free up credit like we supposed?
  15. TexonLongIsland

    TexonLongIsland 2,500+ Posts

    who exactly do you suggest we put on the boards? Politicians?
  16. ZenSip

    ZenSip 100+ Posts

    I'm thinking we should put convicted rapists on the boards so we won't be surprised later.
    Who to put on the boards if that were the case, indeed?
    Yet with this new level of mistrust, remember we were giving them our money both in taxes and investments all along...... makes you think.
  17. bronco

    bronco Guest

    Zen- I am curious as to which companies you are referring to when you discuss this bailout? Who exactly do you think is getting relief?

    Is it Bear Stearns (gone), Lehman Bros (gone), CountryWide (gone), Wash Mutual (gone), MerrilLynch (gone), IndyMac (gone), Wachovia (gone) and on and on.

    If executed correctly, all the govt will be doing is buying distressed assets that, due to accounting regulations, have been severely undervalued. This is an opportunity for the govt and the tax payers.
  18. ZenSip

    ZenSip 100+ Posts

  19. Anastasis

    Anastasis 1,000+ Posts

  20. ZenSip

    ZenSip 100+ Posts

    Seriously, if and when these opportunities pay off do you not think they will grist for increased spending by the government?
    Is it not more likely that any profits recovered will be used to further grease the political wheels of the prevailing party?
  21. BrothaHorn

    BrothaHorn 1,000+ Posts

    Wow, I know that video was edited, but if half of it is true, then JMC should be putting out a commercial along the same lines in all 50 states..

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