GOP Governor Attacks Bailout Expansion

[RakuraiTenjin]

"We're hearing now more talk of additional taxpayer bailouts ... for companies, for corporations, perhaps even states now who may be standing in line with their hands out despite, perhaps, some poor management decisions on their part that helped tank our economy,"

hear hear. Stop this socialism in its tracks


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I didn't post who it was so that you guys can show a little objectivity instead of latching onto a name.

 

[RakuraiTenjin]

can someone please move this to politics I posted in the wrong forum

 

[Laivasse]

Without taking the piss, I find the fact that it's Palin who has said this to be interesting. No more than a week or two back, John McCain was proclaiming these bailouts to be a necessary evil.

Amidst all the talk of 'it was not our time, it was not our moment', and congratulations for Obama, there doesn't seem to be any mention of McCain or why the campaign to elect HIM as president failed...

Stuff like:

Some Republican governors told CNN they were not particularly happy with the way the RGA press conference was executed Thursday, saying they agreed to go as a show of GOP governors' unity, but they ended up feeling like silent Palin supporters, because it was clearly a press conference called for her.

and

Another Republican governor eyeing a presidential run in 2012 told CNN the event was "odd" and "weird," and said it "unfortunately sent a message that she was the de facto leader of the party."In an interview with CNN, it was suggested to Mississippi Gov. Haley Barbour that there has been a feeling among some GOP governors gathered in Miami that Palin has been sucking up all the media oxygen.

...is far more intriguing to me than Palin's position on the bailout. For one thing, I don't believe for a nanosecond that Palin would have the courage or strength of conviction (in ANYTHING) to be able to condemn the bailout should she find herself in the position that McCain was in just recently.

That being the position of having to promote stuff which genuinely has the best chance of benefiting the economy, as opposed to promoting conservative/libertarian-idealist rhetoric in an attempt to win over the Republican base.

 

[Krynn72]

In after Rakurai's "SOCIALISM" fear mongering.

 

[RakuraiTenjin]

That being the position of having to promote stuff which genuinely has the best chance of benefiting the economy, as opposed to promoting conservative/libertarian-idealist rhetoric in an attempt to win over the Republican base.

This has done FAR more to hurt the economy in the LONG TERM. The bailout has done nothing more than waste taxpayer money to delay what is inevitable. The market needs to be able to correct itself and these companies that took unnecessary risks need to be allowed to fold so others can rise from their ashes.

 

[Neutrino]

I don't have anything against socialism. Problem is the bailouts aren't socialism. They're more like "Oh shit the economy is failing and we have no clue what to do so lets throw huge amounts of tax payers money at the problems like we usually do and then reconsult the 8-ball"ism.

 

[RakuraiTenjin]

I don't have anything against socialism. Problem is the bailouts aren't socialism. They're more like "Oh shit the economy is failing and we have no clue what to do so lets throw huge amounts of tax payers money at the problems like we usually do and then reconsult the 8-ball"ism.

Well that's just as bad if not worse.

 

[Neutrino]

Well that's just as bad if not worse.

Hmm, not quite getting you? My point was just that I don't think it's accurate to call these bailouts "socialism" as they bear very little resemblance to the policies of an actual socialistic state, in my opinion. Thus why I'm mostly pro socialism (to an extent), but anti bailout (in their current form at least).

 

[Pesmerga]

In my eyes, Congress had no choice but to pass the bailout. There is no short term solution bar some miracle economic power move- I mean, when do you want the next Great depression to hit? Tomorrow, or ten years from now? That's essentially our options. Other nations won't just forgive our debt to them, and there is no way we can pay it off by manufacturing weapons. The States is in debt up to their eyeballs- 13 trillion's worth of cold debt owed to countries in both hemispheres of the globe. The Euro has already superseded the dollar (although this may not hold true for very much longer considering how their economic prosperity has relied a lot on ours- see the end of the past two years).

On the other hand, Asian markets have done well in the past decade. The Yen is beginning to gain momentum as manufacturing powerhouse China and boom cities like Dubai have grown in inverse proportion to the Dollar's fall. See 5 year trend of Dollar to Yen

On the issue of semantics... bailouts are not socialism, but it is bad capitalism.

 

[Pesmerga]

ok **** it.

BAILOUTS = SOCIALISM

SOCIALISTS ARE COMMIES AND DEMOCRATS ****ED UP THE ECONOMY FOR EVERYONE, WELCOME TO THE GREATER DEPRESSION AND **** THE YANKEES

 

[delusional]

The bailout may have been necessary, but it was executed horribly.

 

[Mr Stabby]

Welfare is a form of socialism, so corporate welfare is socialist.

The bailout isn't working so it was a waste of money

 

[The Monkey]

Without the bailout the economy will collapse.

 

[Pesmerga]

The economy is going to collapse anyway. It's not totally uninformed to say it is just prolonging the inevitable.

 

[lefty]

Hopefully the zombie apocalypse will come before that.

 

[staticprimer]

Hopefully the zombie apocalypse will come before that.

Indeed. The zombie apocalypse will come to wipe out all debt. Also life.

 

[lefty]

Better dead than in debt.

 

[RakuraiTenjin]

Without the bailout the economy will collapse.

WITH the bailout it's going to collapse even harder further down the road and the government will be -1 more trillion because they did it.

 

[Eejit]

Oh shit guys, we got ourselves a genuine Oracle here!

So Rakurai, how many kids am I gonna have? Boy or girl first?

 

[Raziaar]

Pretty much everybody on left and right in the media has been saying that the bailout hasn't been working out well at all, not been happening as it should have.

I don't see what the big revelation is.

 

[RakuraiTenjin]

Oh shit guys, we got ourselves a genuine Oracle here!

So Rakurai, how many kids am I gonna have? Boy or girl first?

NOTHING has been done to change the creditors cultures. They have only been allowed to thrive under failure.

Responsible management is punished because they did NOT fail.

This just sets us up for a repeat.


Look at Merrill Lynch. They sold themselves to Bank of America to save all their employees jobs and took the responsible route. Yet now they suffer compared to those who squandered money recklessly?

I bet they wish they'd just waited for their damn handout now. Corporate welfare breeds an irresponsible culture of "the gvnmt will save us if we mess up"



These companies that drove THEMSELVES into the ground need to be allowed to fail. It lets the market correct itself, not run itself further deeper into a hole we won't be able to dig ourselves out of.