House, Senate Reach Stimulus Compromise Broadband ultimately should get between $6.65 and $6.8 billion Tipped by Romney2012 
The differences between the House and Senate versions of the economic stimulus plan have been settled after closed-door negotiations, though details remain limited at the moment. The NY Times notes that a controversial tax credit that would have given Verizon $1.6 billion for doing very little differently has been eliminated in the final version. It looks like the final bill does retain some language requiring that any company that takes subsidies must adhere to open network principles. It doesn't appear that last-minute exemptions for copyright filters -- something Democrat Diane Feinstein tried to sneak in at the last minute (at the behest of entertainment industry lobbyists) -- made it into the bill.
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 |  | | | Re: Oh Joy! Yes because being raped for 1.5 Trillion or prob about 10,000 for every working American is elates me. Yay to our money be squandered by poorly behaving companies who pissed away 100s of millions on Golden Parachutes. Please government, throw my money at them with no strings attached. PRETTY PLEASE. I couldn't think of any better uses for it myself. Hell, just take it all and let's start a collection fund for them. Normal Americans aren't suffering enough. Let's start with the big businesses first. That'll surely sort things out as they piss away the cash and ask for more and more.
Sorry you said sarcasm off? | |
| | |  BF69Premium
join:2004-07-28
Camden, TN | Re: Oh Joy! said by jc100:Yes because being raped for 1.5 Trillion or prob about 10,000 for every working American is elates me. Yay to our money be squandered by poorly behaving companies who pissed away 100s of millions on Golden Parachutes. Please government, throw my money at them with no strings attached. PRETTY PLEASE. I couldn't think of any better uses for it myself. Hell, just take it all and let's start a collection fund for them. Normal Americans aren't suffering enough. Let's start with the big businesses first. That'll surely sort things out as they piss away the cash and ask for more and more. Sorry you said sarcasm off? Sorry but a lot of money is being used for increased food stamps, umemployment and other welfare. So many por Americans are going to get some of that cash directly.
Not to mention some of that "cost" isn't really even money it's tax cuts. it coutns as if it was money becaus e that much les money will be going to the IRS. for shame everyone gets to keep a little more of their hard earned $$$ and you have an issue with that? | |
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2 edits | Re: Oh Joy! Listen,
I'm not against Social Programs. Everything is this country has been socialized.
- Schools are Socialized. Everyone in the community pays for students to learn. It's not just parents with kids. Everyone is taxed whether or not they ever have a kid, had a kid in school, or still do have one in school. City, State, and Federal Dollars.
- EMS / Emergency services are Once again Socialized via City, State, and Federal Dollars. We all pay to have access to these services. Not to mention, other cities come and help each other out. Which means residents in one city pay for the cost of another city should there be a major disaster.
- Medical Research is Socialized. Institutions received 57 million last year to research medicines / cures. All tax payers once again foot the bill.
- Roads of course are socialized. Whether or not you drive, license plate costs are NOT the only revenue paying for their construction. City, state, federal dollars all once again pay.
- Hospitals - Once again Public hospitals are Socialized via tax dollars. A public Hospital CANNOT turn you away from basic care.
Welfare - socialized but damn well needs some more reforms....
So why Don't I mind the above? They are what makes a society run. Honestly, I think we should have social health care. We already have it for the Elderly. Medicare / Medicaid. Hell countries like Sweden with Social Medicine have some of the longest living / Healthiest people.
Long story short, these help EVERYONE and the COMMUNITY. You got the benefit / get the benefit without paying the full cost. WHENEVER you do, it's socialism. Otherwise, youd be building your own roads, funding your OWN TUITION AT FULL COST for public school, etc.
Why I DON'T think Businesses should be getting Hand outs:
- PRIVATELY RUN
- NOT MY VENTURE CAPITAL RISK
- DO NOT SEE PROFITS FROM THEM
- THEIR POOR CHOICES SHOULDN'T BE TAX PAYER BURDEN
- FREE MARKET... A company that can't prosper should be let to fail
There's a BIG DIFFERENCE in the fact that we take care of our community and people and in the fact we SUPER FUND BUSINESSES. Businesses are PRIVATELY OWNED (Not Nationalized). Since that's the case, if a CEO gets 100 million Bonus and it bankrupts the corporation, IT"S THEIR OWN DAMN FAULT. Not mine. | |
| | | | | Pv8man
join:2008-07-24
Hammond, IN | Re: Oh Joy! Thank you "jc100"
I could not have explained my point better then you did ^
Some not realizing that socialism has been a big part of this country for while now and it helps the community function better as a whole.
We have been a socialist country this whole time, we just did not call it socialism until now. | |
| | | | | | | said by jc100:So why Don't I mind the above? They are what makes a society run. Honestly, I think we should have social health care. We already have it for the Elderly. Medicare / Medicaid. Hell countries like Sweden with Social Medicine have some of the longest living / Healthiest people. That's a non-sequitur. Because some countries have longer life-spans cannot necessarily be attributed to the healthcare system.
And the competence of the government in managing social security, medicare/medicaid, schools, and the roads is a downright joke.
I agree with what you say about government hand-outs to failing private sector corporations. | |
| | | | | | | | Re: Oh Joy! Sure they do Kodiac. There's a direct and research backed correlation between the access to Medical Treatment and the Lifespan of People living in Countries. Quality of life goes hand in hand with being able to have ADEQUATE AND WELL MANAGED MEDICAL CARE. Is Medicaid / Medicare Perfect? No. However, we should be taking notes from Sweden which has one of the world' most top rated Socialized Health Care Systems.
I think the U.S. should offer Free Medical to Everyone with the ability to get insurance. Sweden uses this same system. More or less, I think if you want a Public Treatment (IE Public Hospital), then see above. If you want a private hospital (non tax payer funded), insurance should be needed. It's a private business. Everyone should have access to medical care no matter what at some level or another.
As for the incompetence of Social Security, Medicare / Medicaid, Schools, Roads... Don't use them.
I imagine you'll be bankrolling the cost of:
Roads to drive wherever... or don't use them.
Reimbursing the tax payers for your FULL COST of schooling
Yes.. that's maybe 1000 students at your school and lets say 20 million yearly operational cost per school. I really damn well hope you got 20,000 a year to shell out to tax payers for returning your educational costs.
As for the rest. Good, don't draw social security or use medicaid. You're against it and someone that's against it doesn't use the system on downright principle! | |
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| | | | Reviews:
 ·Comcast
| Basics should be only provided by the gov. infrastructure, defense, and public safety. pretty much anything other than that and you get people who abuse the system which they do. give people money and they won't work if they don't have to. Reason a lot of social programs need to vanish. Whats that saying, "The system that robs Paul to pay Peter, will always have Peter's support.". Also not to mention we borrow money for a lot of these programs and can't afford them. I'm a libertarian if you haven't noticed. People survived log before them and will survive after they go away. matter of fact the country was booming before socialized handouts, now people don't won't to work. so instead of making them we just say here's more money. country is going to go bankrupt. have you not noticed the gov has pretty much messed things up that they poke there head in. The bailouts should never have happened. they should have let them fall like a ton of bricks. | |
| | | | | | | | Re: Oh Joy! Infrastructure is socialized bud. Can't have your cake and Ice Cream too. Which do you want?
Hospitals Given Money to Research Cures - Gone. Received 57 Million last year from Tax Payers.
- Find Your own cures. Hope you're damn good at science, math, and medical research.
Note: Might want to live in a bubble... Because I see a Public Health Crisis brewing when we stop funding medical research. Contrary to your half thought out plan, diseases travels regardless of social economic class and status. Public Health and Safety. Sweden has Socialized Medicine and one of the world's highest life expectancy. Wonder how that ties together. 2+2 = 4. Amazing.
Roads - Um.. I don't recall the Constitution Dictating Roads were something the government built. I mean there's the Interstate Commerce Clause, but that's regulating trade. Not the Path Ye travel to do so. So build your own roads. Can't have your cake and Ice Cream. Roads are Socialized. I don't want to pay for you to drive in your city. I live in My city. Maybe I don't leave this area ever. So Why should my taxes give your Po Dunk town of 56,000 the right to drive? My Area has 1 Million+. Only major cities need Roads. It's your choice to live outside that of the MAJOR AREA. I guess you're shit out of luck.
As for the survival Argument. Well up until the invention of penicillin, we really didn't do a good job of surviving. Life Expectancy in 1900 was 47. But hey dude, if that's old to you, MORE POWER TO YA! I prefer to make it PAST 47 and I dont know.. live to my 80s in decent health?
P.S. Libertarians also want to do away with the post office. We don't need that anyway. Seeing how we don't need roads and such. Speaking of Communication, I'm going to be shutting off your power.
YOU WON'T be able to reply. You might not recall but the RURAL SOUTH (TVA.. Tennessee valley Authority, etc and other such areas) Got Government subsidies to have o Electricity. You're using the NORTH'S Hard EARNED CASH to talk to me. I'll go ahead and rectify that one. We'll rip up all that and let you start again. Right?
We don't need the government. You'll be doing the roads, health care, educating your youngin's, all by yourself. Right? | |
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| | | |  N3OGHYo Soy Col. "Bat" GuanoPremium
join:2003-11-11
Philly burbs
kudos:1 | When it comes to schools being socialized, I agree with you completely. I have no children, have no intention of ever having children, and my parents sent me to Catholic school. Every year I write a big enough check to the school district to buy them 3 50" plasma TV's and I get nothing. I've got to admit, it burns me.
The mutual aid aspect of emergency services I disagree with you on. State, local, and county governments receive a lot of money from the government, but agencies enter into mutual aid agreements of their own free will. No agency I know of is forced to sign a mutual aid agreement. I see this more as doing a neighbor a favor, as some day you will need a hand yourself.
Is it socialism if one week I take out my neighbor's garbage for him? I don't think so.
Roads are not "of course" socialized. License plate costs, as you said are not the sole source of revenue for building roads. But, you fail to mention the fuel tax. On average, a gallon of gasoline has approx .50 a gallon tax on it.
Diesel fuel is on average .53 a gallon tax.
In addition, the heavier your vehicle is, the more it costs to register it. Meaning, if you burn more fuel, and beat up the roads with a heavier vehicle, you pay more.
Subsidised, perhaps, but certainly not socialised.
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Petty people are disproportionably corrupted by petty power… | |
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3 edits | Re: Oh Joy! 1) Schools are socialized we agree.
2) EMS / Fire / Etc ARE SOCIALIZED. How do they get their funding to start? Tax Dollars. Who pays? Everyone in that city. Is that the only money they receive. No. They also receive STATE AND FEDERAL DOLLARS. Where does that come from?
EVERYONE IN THE U.S. PAYS STATE AND FEDERAL that SOCIALIZE what a City lacks from local revenue. You think the 1-2 percent city taxes would cover Police, Fire, etc. (Equipment, personnel, etc). Nope
As for Mutual Aid... That's debatable. Let's take your approach. Let's assume its optional. Why should tax payer's in one city HELP another? Tough luck, if you can't put out your own five alarm fire.. BURN BABY BURN.. Right? O forgot, there's that thing called Good for the Community. Your 5 alarm fire might burn my city next door down.
3) Roads are socialized. There are License Plate and Gas Tax. However, look at this aid package for the Stimulus that includes building projects and construction. That's not Oil money. Nor are MOST of the projects we undertake in the form of Construction, Road Maintenance, etc. It's EVERYONE'S City, State, Federal Dollars SOCIALIZING their building and upkeep. Be it Roads, Federal Buildings, etc.
P.S. Wrong. Each state is different on Registering Vehicles. Ohio has Commercial and Regular License. I can drive a Hummer, Dodge Durango, etc and as long as it's for PERSONAL USE in Ohio, I pay the same cost as the guy with a Ford Escort. Don't assume. State Laws Vary.
"Subsidised, perhaps, but certainly not socialised"
Subsidized IS ANOTHER WORD FOR Socialized. Unless you are PAYING THE FULL COST, other's are footing the bill. Both words mean the same bud. I don't see you building your own roads or maintaining them. I don't see you being responsible for fighting your own fire or saving your own family members life in a crisis. You have the government and EMS / Emergency services to do that. Paid for by ALL TAX PAYER. Socialized. | |
| | | | | | | N3OGHYo Soy Col. "Bat" GuanoPremium
join:2003-11-11
Philly burbs
kudos:1 | Re: Oh Joy! Well, we disagree.
That makes you, sir, worse than Hitler.
Sorry, just trying to keep it lite.... 
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Petty people are disproportionably corrupted by petty power… | |
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1 edit | Re: Oh Joy! Well what's there to disagree on. Point out one flawed piece in what I'm saying. Our society as a whole is socialized from ground up. What we don't get are the "Benefits" of Social Countries because our Politicians has turned the word into a Stigma. Let's face it, Public Health is a matter of safety for all.
Let's for once say John your next door neighbor Needed money badly as he just got laid off from his trucking job. He now has no insurance. He decides to Sign up to go Do Some Over seas work as a sub contractor. John comes back deathly ill. High Fever, Vomiting. You going to tell John. Hey bud, sucks to be you, but not that your employment ran out, hope you saved money. Please die and don't cough on me? Nice. Cause John Might have Ebola and hey, that shit don't stay with just John. Diseases does not care whether you're rich or poor. Therefore, You want the CDC to whisk his ass away and quarantine him. That cost money. Who funds the CDC?
Tax Payers. Let's take a Less "Drastic Approach". Say your Mother Grandmother is Uninsured and has Kidney Disease. Should society say hey you had a nice life. Go ahead and die so we don't have to pay for your costs?
See my point?
As for Roads, I've covered this and schools as well. But long story short, we have a public good as a Community to Maintain Infrastructure and take care of one another.
WE DO NOT HAVE A PUBLIC NEED TO FUND BUSINESSES that are:
Privately Owned
Non Nationalized Companies
And have Share Holders
that screw up, piss away their cash, and expect to be giving a stem cash to continue down the same road. Bad choices have consequences. Sorry you're going out of business.... We'll be investigating you if wrong doing took place and tossing you in jail. Otherwise, guess you'll need to find a new line of work or ask that CEo with 100 million bonus to return a bit. | |
| | | | | | | | | N3OGHYo Soy Col. "Bat" GuanoPremium
join:2003-11-11
Philly burbs
kudos:1 | Re: Oh Joy! Dude, I was trying to let it go, ya know?
"I believe I've passed the age, consciousness and righteous rage, I found that just surviving was a noble fight. I once believed in causes too. Had my pointless point of view, and life went on no mater who was wrong or right."
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Petty people are disproportionably corrupted by petty power… | |
| | | | | | | | | | | | Re: Oh Joy! Well letting it go to let it go is fine. I'll end it on the note by rephrasing your statement more correctly.
There will always be two sides in every argument. Sometimes one is right, and the other is wrong. However, it's best to find a middle ground whenever possible, because you don't want to be caught looking through the wrong window. | |
| | | | | | | | | | N3OGHYo Soy Col. "Bat" GuanoPremium
join:2003-11-11
Philly burbs
kudos:1 | Re: Oh Joy! It's the lyrics from a Billy Joel song..... | |
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| | | |  kamm
join:2001-02-14
Brooklyn, NY | said by jc100:Listen, I'm not against Social Programs. Everything is this country has been socialized. - Schools are Socialized. Everyone in the community pays for students to learn. It's not just parents with kids. Everyone is taxed whether or not they ever have a kid, had a kid in school, or still do have one in school. City, State, and Federal Dollars. - EMS / Emergency services are Once again Socialized via City, State, and Federal Dollars. We all pay to have access to these services. Not to mention, other cities come and help each other out. Which means residents in one city pay for the cost of another city should there be a major disaster. - Medical Research is Socialized. Institutions received 57 million last year to research medicines / cures. All tax payers once again foot the bill. - Roads of course are socialized. Whether or not you drive, license plate costs are NOT the only revenue paying for their construction. City, state, federal dollars all once again pay. - Hospitals - Once again Public hospitals are Socialized via tax dollars. A public Hospital CANNOT turn you away from basic care. Welfare - socialized but damn well needs some more reforms.... So why Don't I mind the above? They are what makes a society run. Honestly, I think we should have social health care. We already have it for the Elderly. Medicare / Medicaid. Hell countries like Sweden with Social Medicine have some of the longest living / Healthiest people. Long story short, these help EVERYONE and the COMMUNITY. You got the benefit / get the benefit without paying the full cost. WHENEVER you do, it's socialism. Otherwise, youd be building your own roads, funding your OWN TUITION AT FULL COST for public school, etc. Why I DON'T think Businesses should be getting Hand outs:
- PRIVATELY RUN
- NOT MY VENTURE CAPITAL RISK
- DO NOT SEE PROFITS FROM THEM
- THEIR POOR CHOICES SHOULDN'T BE TAX PAYER BURDEN
- FREE MARKET... A company that can't prosper should be let to fail There's a BIG DIFFERENCE in the fact that we take care of our community and people and in the fact we SUPER FUND BUSINESSES. Businesses are PRIVATELY OWNED (Not Nationalized). Since that's the case, if a CEO gets 100 million Bonus and it bankrupts the corporation, IT"S THEIR OWN DAMN FAULT. Not mine. As for health services the US healthcare is one of the world's MOST INEFFICIENT, MOST EXPENSIVE and most DISCRIMINATIVE ones in the Western world.
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[BQUOTE=[user=bicker]]Waaaa waaaa waaaa. You just want what you want and don't care to factor in what is right or true. Your perspectives are un-American, and deserve far more ridicule than I'm prepared to pile on them.
[/BQUOTE] | |
| | | | | | | | Re: Oh Joy! Pretty much. Rich get top of the line treatment. Poor are patched up and told to crawl into the corner and die.
As if disease, illness, and public health epidemics really care about socio economic status. Rich, Poor, Middle class. What one person gets can spread to any of the above without discriminating.
I'd love to see people of today travel back into time during the 1918 flu Pandemic and say. Well hey, you're poor. You dont need treatment. O crap how come I'm sick. We tossed you off into a corner. Shouldn't your magic disease have vanished. I'm Wealthy and Disease can't touch money.. Sure.
The U.S. is a DISGRACE of a First World Nation when it comes to putting a price tag on life and public health. | |
| | | | | | | | discriminative how?
If you have insurence, you will be treated .. and won't be billed above your expected rate.
Dont have insurence, will be treated and billed. | |
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| | | | | Stop giving the poor my money. Food stamps is a good investment? | |
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| |  Romney2012Defeat Obama 2012-Chg we can believe inPremium
join:2002-03-03
USA
kudos:4 | Re: Nice to see change said by Matt:Let's see, no tax credits for business and net neutrality language remains. Seems like a slight change from the norm, eh naysayers?  But this was also part of the compromise:
»bits.blogs.nytimes.com/2009/02/1···us-bill/
The latest plan is also said to eliminate rules meant to encourage the deployment of very fast service.
"This is a pretty sizable victory for the cable industry, for AT&T, and for the smaller telephone companies because speed tiers are no longer the yardstick for who benefits and who doesn't," said Jessica Zufolo, an analyst with Medley Global Advisors.
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My BLOG .. .. Internet News .. .. My Web Page | |
| | | me1212
join:2008-11-20
Pleasant Hill, MO | Re: Nice to see change Even if its no more then 5m, those if us who live in rural area and only have wireless, or those poor people who only have sat. would LOVE anything 1.5m or over for $50 or less a month, as here that kinda speed(1.5m) is OVER $200 a month. | |
| | | |  IowaManPremium
join:2008-08-21
Grinnell, IA | Re: Nice to see change Ouch! and I thought our telephone company was expensive
1.5 for us is 24.95 When you have a bundled package
Grand total is still $80 though | |
| | | | | me1212
join:2008-11-20
Pleasant Hill, MO | Re: Nice to see change I have wireless 512k down 128k up its $55 a month we use VOIPo with it, it work great, and it dropped our phone bill from $65 with embarq to $11.25 a month with VOIPo. | |
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| |  MattAll noise, no signal.Premium
join:2003-07-20
Jamestown, NC
kudos:12 | Tk, so we got 2 out of 3. That's better than the 0 out of 3 that we're used to isn't it? | |
| | | Reviews:
 ·Verizon FiOS
| said by Romney2012:... The latest plan is also said to eliminate rules meant to encourage the deployment of very fast service.
"This is a pretty sizable victory for the cable industry, for AT&T, and for the smaller telephone companies because speed tiers are no longer the yardstick for who benefits and who doesn't," said Jessica Zufolo, an analyst with Medley Global Advisors. that's OK, because this money will likely be WASTED, so it doesn't matter if there are no speed requirements. | |
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|  pnh102Reptiles Are Cuddly And PrettyPremium
join:2002-05-02
Mount Airy, MD | said by Matt:Seems like a slight change from the norm, eh naysayers? Rampant deficit spending and growing of government... how is this different from the last 8 years?
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Blagojevich / Madoff 2012! | |
| | | | | Re: Nice to see change said by pnh102:said by Matt:Seems like a slight change from the norm, eh naysayers? Rampant deficit spending and growing of government... how is this different from the last 8 years? Because the other side is now doing it.
Rampant deficit spending and growing of government.....now with "Hope and Change."
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| | | | pnh102Reptiles Are Cuddly And PrettyPremium
join:2002-05-02
Mount Airy, MD | Re: Nice to see change said by moonpuppy:Because the other side is now doing it. Point.
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Blagojevich / Madoff 2012! | |
| | | | | MattAll noise, no signal.Premium
join:2003-07-20
Jamestown, NC
kudos:12 | Re: Nice to see change The Republican circle jerk is not until 11AM guys. It's taking a while for Rush to finish his waffles and Oxycontin.
Let me make it very simple and let's see if you can understand:
Bush + rampant spending with no reinvestment in our country = the situation we're in now
Obama + 900 billion to be reinvested in our country = fix for the mess we're in now
You see, when you take 900 Billion and don't give everyone a $600 check, but instead give them a JOB, you solve two problems. That person isn't reliant on the government for support, they have money to spend to boost consumer spending, and the government collects taxes on their income. Holy! What a novel idea! | |
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See 24 replies to this post |
| | patcat88
join:2002-04-05
Jamaica, NY
kudos:1 | said by pnh102:said by Matt:Seems like a slight change from the norm, eh naysayers? Rampant deficit spending and growing of government... how is this different from the last 8 years? A credit rating was free money given to you by God for being born, now time to cash it all out, or your being wasteful and will burn in hell. AAA to D here we go. | |
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| cacoPremium
join:2005-03-10
Whittier, AK | Companies are going to jump all over that money.(sarcasm off)
Look for article 6 months from now telling us that no one has applied for grants. | |
| | | pnh102Reptiles Are Cuddly And PrettyPremium
join:2002-05-02
Mount Airy, MD | Re: Nice to see change said by caco:Companies are going to jump all over that money.(sarcasm off) Look for article 6 months from now telling us that no one has applied for grants. Personally, I hope Congress subjects the companies that did get welfare money to more public ridicule an even more extreme, hopefully unprofitable and bankruptcy-inducing regulations.
If that doesn't serve as an incentive for companies to stay off welfare, I don't know what will.
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Blagojevich / Madoff 2012! | |
| | | | patcat88
join:2002-04-05
Jamaica, NY
kudos:1 | Re: Nice to see change said by pnh102:If that doesn't serve as an incentive for companies to stay off welfare, I don't know what will. Liquidation/bankruptcy. No golden parachutes, no dividends, no stock value. The organ of a corporation's life is killed. | |
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 major marcoRes Firma Mitescere NescitPremium
join:2003-02-13
Stepford, CA | Squandered Billions: Soak the tax payers So the economy is not merely spiraling the toilet any more, but is halfway finished the flush and somehow, deploying highspeed Internet to rural areas is going to somehow unfuck that which a trillion dollars thrown at the white collar criminals who caused the debacle continue to fuck? I don't think so. This money is nothing but a reach around. It won't stimulate anything but the bank accounts of the corporate welfare recipients who are receiving it.
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The Toll
Tracking Lord Stanley
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| |  JigsawStardust We ArePremium
join:2000-10-21
Cleveland, OH | Re: Squandered Billions: Soak the tax payers | |
| | | | said by major marco:So the economy is not merely spiraling the toilet any more, but is halfway finished the flush and somehow, deploying highspeed Internet to rural areas is going to somehow unfuck that which a trillion dollars thrown at the white collar criminals who caused the debacle continue to fuck? Those common people who signed up for stupid adjustable-rate mortgages with no equity, maxed out their credit-cards, mortgaged their future to buy that cool car, toy or LCD - THEY had NOTHING to do with this whole thing....
Now, the people that showed fiscal responsibility will paypaypay, allowing the nanny govern-state to bail out the dumb-asses.
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3500/512 5.7 GHz Motorola Canopy Wireless; FoxValley.net
'It looks just like a Telefunken U47 !' | |
| | | major marcoRes Firma Mitescere NescitPremium
join:2003-02-13
Stepford, CA | Re: Squandered Billions: Soak the tax payers said by jay_rm:Those common people who signed up for stupid adjustable-rate mortgages with no equity, maxed out their credit-cards, mortgaged their future to buy that cool car, toy or LCD - THEY had NOTHING to do with this whole thing.... Now, the people that showed fiscal responsibility will paypaypay, allowing the nanny govern-state to bail out the dumb-asses. It's not the "common" people who made the executive decisions to lend them money they knew they couldn't pay back.
Blame lies squarely with:
(1) The Fed for slashing interest rates to 1% in 2002, fueling the biggest housing bubble in history. Greenspan had a hard on for derivatives and subprime lending, along with Gov. Bernanke who went along with everything Greenspan wanted.
(2) Congress refused to rein in Goverment sponsored enterprises such as Fannie Mae & Freddie Mac. It's not government's job to champion housing. Promotion of housing just caused prices to increase until they crashed. Additionally, Congress also pissed away a trillion dollars on an illegal, completely unnecessary war in Iraq.
(3) State Legislatures
There are currently States that have large budget deficits because they thought that the housing gravy train would last forever. As a result, they failed to fund pensions while pissing away money on pet projects. Property taxes rose and remained at unsustainable rates. Now the same States don't have the money to fund all the bennies & projects they promises before the housing bubble burst.
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The Toll
Tracking Lord Stanley
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| | | patcat88
join:2002-04-05
Jamaica, NY
kudos:1 | said by jay_rm:Those common people who signed up for stupid adjustable-rate mortgages with no equity, maxed out their credit-cards, mortgaged their future to buy that cool car, toy or LCD - THEY had NOTHING to do with this whole thing.... Now, the people that showed fiscal responsibility will paypaypay, allowing the nanny govern-state to bail out the dumb-asses. Bailout isn't going to fund your credit card debt, or boost your credit rating.
5000 sq ft, 4 car garage, heating swimming pool, travertine floor, master bathroom big enough to fit a semi, $700 a month, interest only? Sign me up! | |
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| | This stimulus will definately create jobs...in India/China Most broadband CSR are in India. So probably this 6.6 bn bill will definitely give them a good raise. Rest of it would be for the CEO bonuses. Nothing for Americans there. move along | |
| | JBear
join:2005-02-24
canada | Could've would've should've What would've happened if the gov't didn't bailout the banks? Where would all those mortgages go? Would people still have to declare bankruptcy and run away? Would it have been better if the gov't just invested in a stimulus package like this broadband plan? To me it just seems the gov't is just propping up businesses that should have been killed off by natural selection and/or darwinism. | |
| kamm
join:2001-02-14
Brooklyn, NY | Sen Feinstein, this PoS paid shill of the RIAA/MPAA-mob... ...should be investigate - she tries to put in measures that are anti-constitutional.
I can't wait for the day when all the shit becomes public about this disgusting rotten industry mouthpiece... | |
| | | | Re: Sen Feinstein, this PoS paid shill of the RIAA/MPAA-mob... Feinstein is also on the intelligence committee. She was briefed and approved of warrantless wiretapping, er, terrorist surveilance of all Americans.
All she wants to save the children and stop the terrorists. | |
| | | | said by kamm:...should be investigate - she tries to put in measures that are anti-constitutional.I can't wait for the day when all the shit becomes public about this disgusting rotten industry mouthpiece... The entire f***ing package is unconstitutional. Boy oh boy...will our children be pissed! | |
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| | Susan Collins' share Can somebody tell me if they included a few bucks for a public speaking and voice coach for the Honorable Ms. Susan Collins? I can't be the only person who mutes the TV or turns down the radio every time she comes on. | |
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Nice to see change
