I was wondering what you guys all think of this financial crysis.  Isn't part of capitalism the fact that some businesses fall and do not succeed.  I think loaning out too much money and going into debt is something banks should be aware of and realise that it may ruin them.  Now I, who does not have any bank loans, must pay in tax dollars toward other people's loans?  I may be wrong but is this what is actually happening?

Well you do have money in the bank right?

If your bank collapses then you may not have that money. They loan it out to folk and if that fails then you would be in trouble.

the way i see it, they shouldnt have been allowed to get so big and bloated and take the risks they did. However, you can't allow them to fail because they hold such a large chunk of home loans, money, etc.

The bailouts and takeovers reek of communism but really I don't know if there is a choice.

I don't know enough about it but thats my 2 cents.

Quote:

If your bank collapses then you may not have that money.

FDIC insured means that all your accounts are each insured to $100,000 by the Fed.

I agree these banks should be allowed to die for the shady business they preformed.  The taxpayers should not be responsible.

ya but they only have 50 billion in cash on hand for that and they insure 1 trillion in assets. If there was a big run on the banks there would be trouble.

Not having the money to do something has never stopped the goverment before.

spanky wrote on Sep 23^rd, 2008 at 8:23am:

Not having the money to do something has never stopped the goverment before.

Bahahaha, isn't that the truth!

This entire bailout is pure socialism.  The government is giving money to private corporations to keep them afloat, and in turn is taking tighter control over their daily operations.  Utter, utter garbage.


-b0b
(...WTF.)

My room mate pulled all his money out of the banks because of the scare.  Not sure where he has all his cash now...  

<insert money related animated smiley here>

No offense, but your roommate is borderline retarded.

-b0b
(...thinks that probably was mildly offensive.)

I keep all my money in a plastic bag somewhere....

Fuck the banks, let the end come!

viva la apocalypse!

Geek culture reigns!

http://d.yimg.com/us.yimg.com/p/afp/20080923/capt.cps.nrj65.230908203126.photo02.photo.default-512x341.jpg?x=400&y=266&q=85&sig=QbUdzz9dLQBmO1a1vtPr_Q--

The_Fat_Man wrote on Sep 23^rd, 2008 at 11:14pm:

I keep all my money in a plastic bag somewhere.... Fuck the banks, let the end come! viva la apocalypse!

If you were a hardcore survivalist, you would have all of that money in gold bullion or pre-1964 silver coins!

-b0b
(...isn't hardcore.)

b0b wrote on Sep 23^rd, 2008 at 4:19pm:

No offense, but your roommate is borderline retarded.

Yea, I agree.

And Wes, all your cash is going to be worth 5 cents when the crash comes.

Quote:

all your cash is going to be worth 5 cents when the crash comes.

That's why I keep all my cash invested in hookers.  Let's hope the market on wes's mom doesn't crash.

spanky wrote on Sep 24^th, 2008 at 10:31am:

Let's hope the market on wes's mom doesn't crash.

If it does, I guarantee the market for Twinkies would quickly follow.

-b0b
(...zing!)

Quote:

I guarantee the market for Twinkies would quickly follow.

I highly doubt it.  The demand for twinkies will go down.  But, I am certain that the only food that can survive a nuclear war can hold some of it's value.

I changed my mind, I am going to transfer to a twinky heavy portfolio.  WTS wes's mom!!