Socializing Banks: A Debate
Has anyone considered the fact that the bank and auto bailouts may be precipitating a "debt forgiveness" program. Our government would have to socialize the banks before this could happen and the bailout is a payment in advance, in preparation, for the loss that will take place if all debt is wiped clean.
I'm not saying this is a good thing, or fair to those citizens who practice the art of living within their means, just a very realistic possibility.
On a further note, I don't believe that mortgage debt would be included. This would cause the housing prices to plummet to unrealistic lows. Although the housing prices must fall, Barney Frank and others will not let that happen.
If this is the plan, I believe it will be coupled with an increase in taxes. The government will say to the masses, "We will eliminate your debts but for a temporary increase in taxes." Wouldn't most irresponsible citizens go along with this? I mean they think it's temporary, right? It would be a sure way of bribing the masses to accept a tax increase..
Please let me know your thoughts on this.
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Maybe if we had a real
Maybe if we had a real socialist government that meant well they would do something like this.
Ventura 2012
You mean not pretend socialist government? Doesn't this sound
~ right up the current administration's alley? I mean, do we need $Billions to fix the housing crises? From what I understand this is being inflated and the market isn't that bad. Also $Billions to the big 3? For what?
What if this money was so massive because these companies will take a major hit from debt forgiveness. Which by the way, they never would have done without the buy out first...
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"Those who make peaceful revolution impossible will make violent revolution inevitable." John F. Kennedy
"It is your duty as loyal Americans to Shut up."– Bill O'Reily
Mathew 5:9 Blessed are the peacemakers: for they shall be called the children of God.
Interesting thought
Those who's debts were wiped clean should not be able to get credit, unless they agree on a payment plan to pay off their debts. They would have to pay off at least 70% of their debts first before being able to apply for credit again. But then nationalizing the banks might mean more control of existing deposits of responsible people. I don't know, just a shot in the dark here. Interesting thought Lynnopoly.
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But this would be a total debt forgiveness. AUTO and CC
~ There's no payback. The banks lose, but not really because they just got $Trill's of dollars of our money. We are going to pay it back in more TAXES. People who were forgiven debt will have no credit. They have to start over, but this is why I say they won't bail out houses because they will be worthless..
Somebody argue me on this or give me your input. I really see this as the next move to "SAVE THE ECONOMY." Think about it, if Washington keeps making the wrong choices, what's the next logically wrong move? Of course this may delay the inevitable, it will not stop the fall...
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"Those who make peaceful revolution impossible will make violent revolution inevitable." John F. Kennedy
"It is your duty as loyal Americans to Shut up."– Bill O'Reily
Mathew 5:9 Blessed are the peacemakers: for they shall be called the children of God.
Bumping for discussion.
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"Those who make peaceful revolution impossible will make violent revolution inevitable." John F. Kennedy
"It is your duty as loyal Americans to Shut up."– Bill O'Reily
Mathew 5:9 Blessed are the peacemakers: for they shall be called the children of God.
Nationalising/Socialising the Banks
This is simply a plan to get the US Government/Tax Payers to eat all the losses, while protecting the profits of the Banksters. After the Banks books have been cleaned up (we eat the losses), They will be sold back to the Private Sector (The Same Bankers) with fresh and clean balance sheets, so the pillaging can begin again. The Best idea is to let them fail and seize the hard assets. Ultimately it will mean a loss for the Tax payer, but far smaller than Nationalisation, with the added benefit that it will destroy some of the Bankers as well.
I completely agree, I was questioning the direction this may go.
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"Those who make peaceful revolution impossible will make violent revolution inevitable." John F. Kennedy
"It is your duty as loyal Americans to Shut up."– Bill O'Reily
Mathew 5:9 Blessed are the peacemakers: for they shall be called the children of God.