Don’t Get Bern’d
Apr 25, 2016 2016 Election
Bernie Sanders is running a radio spot in Maryland where he talks about the big banks. He claims those banks are responsible (their irresponsible polices and lending practices) for the economic downturn in 2008, the worst since the Great Depression. He says they were deemed too big to fail so they received taxpayer bailouts and now many of them are even bigger than they were when they were too big to fail.
Bernie vows that he will break up the banks and he will make them follow the rules and ensure they pay their fair share.
[note]As an aside, Bernie loves to talk about people paying their fair share but he wrote off over $60,000 on his taxes and paid an effective rate around 13%. He used all the methods he rails against to ensure he paid lower taxes. If taxes are so wonderful, as he claims, then why does he take all the deductions? Shouldn’t he practice what he wants to put in place?[/note]
Bernie is spewing the old Democrat line about the banks causing the problem. The real reason we had an economic collapse is that Democrats, like Bernie, forced banks to give mortgages to people who could not possibly pay them. He and others in his party forced the banks to lend the money and the banks bundled those loans and sold them. When all these unworthy debtors failed to pay the mortgages the banks were forced to give the system went belly-up. It statred with the Community Reinvestment Act under Jimmy Carter.
George Bush warned at least a dozen times that the system was in danger because of it but Democrat after Democrat testified that the system was sound.
Then in 2008 it collapsed and the Democrats started blaming the banks. Those banks, by the way, were forced to take bailouts. Yes, the government forced banks to take the money whether they needed it or not.
People like Sanders are telling lies and playing the typical Wall Street and banks are bad game to gin up voters. Bernie is pushing even more spending that we can’t afford (free college blah, blah) and that will result in another economic time bomb.
The system is falling apart because of liberal/progressive/socialist policies that Bernie is all too happy to push.
We do not need this joker running the country.
We also do not need Monica Lewinsky’s ex boyfriend’s wife running it either.
Both of them are part of the problem. They are the reason we had a collapse, no matter what lies they tell.
So ignore Bernie and what’s her name and vote for someone who can clean up the mess created by liberals.
Cave canem!
Never surrender, never submit.
Tags: 2008 collapse, bailouts, lies, sanders, taxes, wall street
Whose Money Is Being Lost?
Nov 16, 2011 Political
The US Government used bailout money to help General Motors and other auto companies. The stated goal was to rescue companies that are too big to fail but the reality is that the government used the money to pay off union backers while screwing over investors. We were told that a profit would be turned and that we should not worry because they are the government and they are there to help.
Looks like the estimate of making money is turning out to be a lie told to us by politicians hell bent on robbing us blind. It is not a lie to those of us who said it would not happen and to those of us who realized the lies the auto companies told when they said they paid back the money. They took stimulus money to pay back the loans…
The estimated losses in the auto bailout have risen to 23.6 BILLION dollars, 9 BILLION more than the last estimate because GM stock is not doing well.
The government has expressed its position in this way:
In its monthly report to Congress, the Treasury Department now says it expects to lose $23.6 billion, up from its previous estimate of $14.33 billion. Detroit News
Herein lies the problem. The Treasury is not going to lose any money. Let me express the sentence so it has the truth; In its monthly report to Congress, the Treasury Department now says it expects TAXPAYERS to lose $23.6 billion, up from its previous estimate of $14.33 billion.
Government seems to forget whose money this is. The money that was spent to bailout the unions and the union workers came from taxpayers. All money that government spends comes from some other entity (most of it through taxes) which means the Treasury (as is true with all government agencies) cannot lose money. All it can do is lose money that belongs to the taxpayer.
I did not agree with the Wall Street bailouts but at least those folks paid the money back (some after being FORCED to take the money in the first place). If those Occupy morons want to protest they should be marching at GM and at the union shops.
Of course they should also be protesting in DC.
We have to call these people on this kind of stuff. This has been going on for far too long in that the government acts as if it spends and loses its own money when it is in fact spending, wasting, and losing OUR money.
Cave canem!
Never surrender, never submit.
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Tags: bailouts, gm, lies, moeny, pay back, taxpayers, treasury, union thugs
Taxpayers To Buffett: Get Over Yourself
Sep 24, 2010 Political
Warren Buffet, the guy who has more money than he knows what to do with, says that taxpayers need to get over their anger.
Taxpayer anger against President Barack Obama and Congress is counterproductive because policy makers took measures including deficit spending to stimulate the economy, billionaire investor Warren Buffett told CNBC.
“Sentiment has turned very sour in the last three or four or five months,” the chairman and CEO of Omaha-based Berkshire Hathaway Inc. said in an interview broadcast Thursday.
“I hope we get over it pretty soon, because it’s not productive,’’ Buffett said. “We will come back regardless of how people feel about Washington, but it is not helpful to have people as unhappy as they are about what’s going on in Washington.” Omaha.com
Perhaps Mr. Buffett, who uses our tax laws to avoid paying more in taxes, has forgotten that we the people are the government and we the taxpayers fund the government. Perhaps he thinks we should get over our anger at the way OUR money is spent but that is not a call for him to make. It is OUR money and we get to decide if we are angry at the way it is misused.
If we do not like banks and other businesses being bailed out then we have a right to be angry about it and we have every right to replace those who have gone against the will of the people.
Buffett might not realize that we have this right and perhaps he is blinded by his devotion to Obama. He backed the wrong horse and now he is chastising us for our anger.
Sorry Mr. Buffett but we the people will unleash that anger in November and we will make change you can believe in.
Nancy Pelosi would not drain the swamp so now we are going to do it for her and we are going to drain it to the bottom.
Buffett can keep his mouth shut and watch from the sidelines. If he wants, he can write a check to pay for the fiscal irresponsibility though he has benefited from it since his backing of Goldman Sachs was repaid after taxpayers bailed the company out.
So taxpayers to Buffett: Get over yourself. You are not that important and have no influence among the people. Stick to keeping your nose up Obama’s rear as you seem to like the view from there.
Cave Canem!
Never surrender, never submit.
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Tags: anger, bailouts, goldman sachs, warren buffett
Ford Refuses Bailout Money, Makes Profit
Jan 28, 2010 Political
Ford Motor Company was the only US big three auto maker to trun down the government’s offer of a bailout. The company was in financial trouble just as Chrysler and GM were but decided against taking taxpayer money.
GM and Chrysler took the money and their companies became government property with labor unions owning part of them. Neither has shown a profit and they both continue to bleed money. It is hard to see how they will survive and how taxpayers will ever get their money back (well, the banks will have to pay for it with a fee).
Ford showed a profit of $2.7 billion, its first annual profit in four years.
The company took action in the tough market and worked on a business plan that allowed it to make money, on its own and without politicians, (few of whom have business experience) running the show.
This is what happens when the free market is allowed to work. Ford would have failed on its own or succeeded on its own and that is how it should be. No business is too big to fail.
[note]One could argue Ford benefited from the cash for clunkers program but all auto makers had equal access to that program[/note]
I don’t think that Congress will catch on and neither will the progressives because they do not care about success, they care about control.
I love my Jeep but will not buy another. I will not buy a vehicle from a company that took my tax dollars and I really don’t care if they go belly up. I will buy from a company that was responsible and did not take tax dollars.
Looking at the financial status of the big three, it looks like I am not the only one who feels that way.
Ford makes some nice SUVs…
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Tags: bailouts, chrysler, ford, gm, government, taxpayers, unions