The Geek Crew - American Economy

Stick

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American Economy
Sep 22^nd, 2008 at 1:03pm

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?

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MediaMaster

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Re: American Economy
Reply #1 - Sep 22^nd, 2008 at 3:24pm

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.

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"Our Constitution is designed only for a moral and religious people. It is wholly inadequate for any other."&&&&John Adams&&

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spanky Post Whore FTP Server Offline Posts: 1540 Detroit-ish Gender:	Re: American Economy Reply #2 - Sep 22^nd, 2008 at 5:30pm 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.
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MediaMaster GeekCrew Administrator FTP Server Offline Holy Xenu! Posts: 1884 Detroit Gender:	Re: American Economy Reply #3 - Sep 22^nd, 2008 at 6:20pm 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.
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spanky Post Whore FTP Server Offline Posts: 1540 Detroit-ish Gender:	Re: American Economy Reply #4 - Sep 23^rd, 2008 at 8:23am Not having the money to do something has never stopped the goverment before.
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b0b

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The revolution will not
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Re: American Economy
Reply #5 - Sep 23^rd, 2008 at 12:35pm

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.)

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Stick Wootzor von Leetenhaxor FTP Server Offline Stick is back Posts: 501 Michgan Gender:	Re: American Economy Reply #6 - Sep 23^rd, 2008 at 3:22pm 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>
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b0b GeekCrew Administrator FTP Server Offline The revolution will not be televised. Posts: 7464 Battle Creek, Michigan Gender:	Re: American Economy Reply #7 - Sep 23^rd, 2008 at 4:19pm No offense, but your roommate is borderline retarded. -b0b (...thinks that probably was mildly offensive.)
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The_Fat_Man Wootzor von Leetenhaxor FTP Server Offline Grand High Overlard Posts: 910 Colorado Springs, Colorado Gender:	Re: American Economy Reply #8 - 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!
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X Post Whore FTP Server Offline Truth Is Treason, In The Empire Of Lies Posts: 3903 Gender:	Re: American Economy Reply #9 - Sep 24^th, 2008 at 1:16am Geek culture reigns! http://d.yimg.com/us.yimg.com/p/afp/20080923/capt.cps.nrj65.230908203126.photo02...
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b0b GeekCrew Administrator FTP Server Offline The revolution will not be televised. Posts: 7464 Battle Creek, Michigan Gender:	Re: American Economy Reply #10 - Sep 24^th, 2008 at 9:39am 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.)
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Stick Wootzor von Leetenhaxor FTP Server Offline Stick is back Posts: 501 Michgan Gender:	Re: American Economy Reply #11 - Sep 24^th, 2008 at 10:19am 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.
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spanky Post Whore FTP Server Offline Posts: 1540 Detroit-ish Gender:	Re: American Economy Reply #12 - Sep 24^th, 2008 at 10:31am 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.
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b0b GeekCrew Administrator FTP Server Offline The revolution will not be televised. Posts: 7464 Battle Creek, Michigan Gender:	Re: American Economy Reply #13 - Sep 24^th, 2008 at 12:23pm 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!)
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spanky Post Whore FTP Server Offline Posts: 1540 Detroit-ish Gender:	Re: American Economy Reply #14 - Sep 24^th, 2008 at 1:01pm 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!!
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