Article: How to Prevent the Next Wall Street Crisis

All good points, but 2 very important points were left out-
1) The people that over-extended themselfs have to take alot of the blame. If you make X per month you simply can't spend X+$500 per month and expect to stay afloat. Easy lesson to teach hard to learn.
2) Everyone wants things to be sold for less. Why is Wal-Mart (or any big box store) so popular? Do they sell high quality products or is the price so low people just head there? In order to get the price low, jobs are lost to lower cost nations. In this country the middle class is being done away with. More families have to work 2 or 3 jobs to make it any more.
The only party that believes in the middle class is the Dems. The other one doesn't really care about the little guy, look at the tax cuts and who they went to. You also can't cut taxes and increase spending- look at example 1 above. One more point- a Union worker makes 28% more than a non-Union worker in the same field and has better benefits.
 
the tax cut goes the "rich" goes to the guy who decides if i get a raise or not. a tax hike goes to the same guy.

union members don't earn that, they exploit it with strong arm. communists.

the way to prevent this from happening again is to let those at fault be punished by the same people who rewarded them, the free market.
let them fail.
and let those who overextended themselves into a home they couldn't afford fail. let them get out of the house so i can buy it. i patiently waited on the sidelines banking my paycheck, driving a 18 year old car and living in a basement so i can SAVE for a home. seriously, screw those who thought they were entitled to a home, those who put NOTHING down on a home and those who overextended themselves. i have no pitty for foolish, selfish, and stupid people.

and lets put an end to the federal reserve and taxpayer buyouts and get back to sound money system.

the government is partially to blame for this f-up by lending the money. get them out of this. they are the fools too. the answer is certainly not MORE government. the government sucks at running everything, stop bigger government and end this climb to socialism.
 
gtluke said:
the government is partially to blame for this f-up by lending the money. get them out of this. they are the fools too. the answer is certainly not MORE government. the government sucks at running everything, stop bigger government and end this climb to socialism.
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I hear ya man. We shouldn't just stop with business though. It's about time we got rid of cops and laws, too, and just let everyone fend for themselves. I can allocate my own money for my protection much more efficiently than those fools in the government. I don't need big government looking out for my money *or* my safety.
 
its time for people to repent😀: thetrumpet.comtoo many bad things happen on this country.
so seat back n enjoyed while we still alive, tehre will be more to come n much more worse than this.
 
gtluke said:
union members don't earn that, they exploit it with strong arm. communists.

the way to prevent this from happening again is to let those at fault be punished by the same people who rewarded them, the free market.
let them fail.
and let those who overextended themselves into a home they couldn't afford fail. let them get out of the house so i can buy it. i patiently waited on the sidelines banking my paycheck, driving a 18 year old car and living in a basement so i can SAVE for a home. seriously, screw those who thought they were entitled to a home, those who put NOTHING down on a home and those who overextended themselves. i have no pitty for foolish, selfish, and stupid people.
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At just a little over 10% of the national workforce, I don't think unions are strong arming anyone these days.

I too blame people who overextend themselves for their own unfortunate situation. I also blame big banks and mortgage companies that tell them that they can afford the $500k house with no money down. Its simple math, here's what I earn, this is what I need to shell out each month, can I do it.

If the numbers aren't in your favor then you are either a fool or a sucker to think you can pull it through. With proper knowledge, guidance and a little smarts, finance isn't really that hard to figure out.
 
It doesn't seem like the solution of our current problem, which was caused by lax regulation and oversight, should be less regulation and oversight. However, one of my more Libertarian minded friends pointed out that the gov't COULD, instead of regulating, merely advise that particular businesses were engaging in questionable/reckless practices and let people fend for themselves. Not sure how well that would work. I'm glad the gov't didn't privatize social security though, because you know down the line we'd have to bail out all the people who got too greedy or careless with their money.
 
jbogner said:
I hear ya man. We shouldn't just stop with business though. It's about time we got rid of cops and laws, too, and just let everyone fend for themselves. I can allocate my own money for my protection much more efficiently than those fools in the government. I don't need big government looking out for my money *or* my safety.
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the last time i checked, the federal government didn't supply cops, the majority of policing is done by the towns. when towns do it, they are MUCH more in tune with the town.
 
walter said:
At just a little over 10% of the national workforce, I don't think unions are strong arming anyone these days.
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um yeah, national. because there are plenty of states where they consider unions what they are, cartels and communists and made them illegal.

try working in NYC where the reds run rampid. i can't work on my OWN equipment, i have to call over some lazy sloth and direct him as he totally f's everything up because he's completely incompetent. i can always do it faster myself, but i'm not allowed to or they freak out and yell and walk off the site in lock step with their comrades. they are a drain on the construction industry.
 
gtluke said:
the last time i checked, the federal government didn't supply cops, the majority of policing is done by the towns. when towns do it, they are MUCH more in tune with the town.
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So regulation is OK if it's "in tune" with what's going on, or on the same level of the thing it's regulating? Following that principle, wouldn't it make sense for a national entity to keep tabs on national corporations so that they didn't run off with our money? You can't be saying that, can you?
 
gtluke said:
...and let those who overextended themselves into a home they couldn't afford fail. let them get out of the house so i can buy it. i patiently waited on the sidelines banking my paycheck, driving a 18 year old car and living in a basement so i can SAVE for a home. seriously, screw those who thought they were entitled to a home, those who put NOTHING down on a home and those who overextended themselves. i have no pitty for foolish, selfish, and stupid people...
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Amen buddy. I was prudent and bought within my means. Now I have a house with a leaking roof, old windows and interior in need of a gut-job - and have been forced to take on the work by myself. To see people on tv (and several of my co-workers) complain that they believed the loan officer that told them they could afford a huge mortgage to buy that big shiny new mini-mansion when they were barely able to pay $1K in rent the month before... No sympathy here. What ever happened to Darwin's theory of evolution?
 
i can't even respond to this i'm so pist off.

the fcuking government can bail out AIG to the tune of billions but where is the aid to the average american?? there is none. are you freakin' kidding me? consumer spending is one of the main indexes. fcuking morons, all of them.

the rich get rich(er) and the 1% will continue to rule America.
 
gtluke said:
and let those who overextended themselves into a home they couldn't afford fail. let them get out of the house so i can buy it. i patiently waited on the sidelines banking my paycheck, driving a 18 year old car and living in a basement so i can SAVE for a home. seriously, screw those who thought they were entitled to a home, those who put NOTHING down on a home and those who overextended themselves. i have no pitty for foolish, selfish, and stupid people.
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Nice...Join the liberatarian party with me my man...The country is overly proggresive in my opinion...We just don't take the time to look at positive gains we have made in our past...It is this over progression that GT Luke is talking about...i.e. Our forefathers didn't sign on a 15000.00 house making .75an hour...You took a hard line here and I like it...IMO one of the biggest problems is the lack of competition against the two parties...Niether of the candidates can "bring change"...
 
jbogner said:
So regulation is OK if it's "in tune" with what's going on, or on the same level of the thing it's regulating? Following that principle, wouldn't it make sense for a national entity to keep tabs on national corporations so that they didn't run off with our money? You can't be saying that, can you?
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no i'm not saying that. i'm not for socialization of our banking or insurance.
i was only refuting the police claim.
our contry was founded on capitalist pricipals, and the more we regulate and control the individuals who own or operate these companies the more marxist we become.
 
and spencer, i'm with you.
i'm for anyone who can read the constitution and understand what it means and why we have it and why we need to stand by it and not piss on it like we have been.
 
gtluke said:
um yeah, national. because there are plenty of states where they consider unions what they are, cartels and communists and made them illegal.

try working in NYC where the reds run rampid. i can't work on my OWN equipment, i have to call over some lazy sloth and direct him as he totally f's everything up because he's completely incompetent. i can always do it faster myself, but i'm not allowed to or they freak out and yell and walk off the site in lock step with their comrades. they are a drain on the construction industry.
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Those states are called right to work states. Look at their poverty figures and the standard of living there. Why would you allow an incompetent person to work on YOUR equipment- if they are truly that bad you have the right to fire them or lay them off- I've done it to my own "brothers". Sounds like sour grapes to me.

Most Police Depts get some type of funding from the Feds- with the money also comes rules. Regardless, we still need them around.

I also have no sympathy for people that got in over their heads, when we were looking for a house in '93 we were prequalified for mid 300's. We decided we didn't want to go over 100 so we bought a house that need a new roof, siding, windows, doors and a driveway. Did all the work myself and I have no worries about making a payment.

And Jake- the aid to the average American is going to some other country that got hit by a storm, or a big wave, is getting invaded by another country or has been invaded by another country. We have to many depatments and organizations that want to decide where help is needed and who gets what here. New Orleans is still a mess and we're not done paying for that one.
 
gtluke said:
no i'm not saying that. i'm not for socialization of our banking or insurance.
i was only refuting the police claim.
our contry was founded on capitalist pricipals, and the more we regulate and control the individuals who own or operate these companies the more marxist we become.
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Who's talking about socialization? Not even the democrats want that. And the Neocons in power now are MUCH worse than the democrats when it comes to bailouts, giving away tax cuts without decreasing gov't spending, increasing the national debt, etc.

Our country was founded on the principle of giving away some rights for the common good, while retaining most rights for the individuals and states. It was never about *no* laws or *no* regulation. It's about as little regulation as necessary to keep us safe and keep the economy functioning well. We MUST have cops to keep our cities safe, and by the same token, we MUST have cops making sure that Wall Street crooks aren't taking our money and running away with it. Without some oversight, it's impossible for consumers to feel safe when participating in that economy, and without participation we'd stunt economic growth.
 
Panhead said:
Those states are called right to work states. Look at their poverty figures and the standard of living there.
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They are horrible I know but there horrible in China too...Oh Oh that doesn't matter does it...Actually it does because I'd rather the poor of America have these jobs then a China men...If an incompetent Chinese can make your computer I think so can an incompetent American...It's crazy how we don't keep things in house and chase away our own companies to other countries...The biggest transfer of wealth is going on right under our noses...The old saying of there will be rich and there will be poor will always be true....It's capitalism brotha
 
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