Re: Bailout Plan

Allen wrote:
Norman M. Schwartz wrote:
EM wrote:
Kip Williams <kip@xxxxxxxxxxxxxxxx> - Fri, 19 Sep 2008 21:36:31 -0400:

Well, somebody has to make sure that the executive officers who
oversaw all that loss don't actually pay anything for it. They have
bonuses to protect, and fat pensions. What, they should join the
riffraff who make less than a million a year?
Exactly. More welfare for the rich is needed.

Not so "exactly", the whole mess is caused by _welfare for the poor_, having been provided no money down mortgages and houses they couldn't afford to pay for. Now the so called 'rich' will be paying for their stupidity and that of the greedy mortgage industry.


That is just and it is
very American, and may I say good Christian practice. Anyone who is
against such a patriotic policy is a thread to the stability of the
nation, to our blessed system of free enterprise and to our superior
Christian civilization. Such un-American, immoral and subversive
elements should therefore be locked up under the anti-terrorism
legislation. God bless America!

Do you mean providing an opportunity for poor people to aquire expensive homes (which they couldn't afford)?

EM


If you check back into the 1980s, you will find that the whole mess is the result of Ronald Reagan's Welfare for the Rich, specifically when his administration removed practically all regulation from the US financial system.
Allen

So the mess is not the result of greed/stupidity on the part of the lenders? Big Brother should have done their thinking for them? Hoo haw.

bl
.

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