Comments | calidor: Interesting look at why Banks are no longer taking bailouts.

calidor

Interesting look at why Banks are no longer taking bailouts.

Apr 30, 2009 11:11

http://baselinescenario.com/2009/04/29/banks-government-chicken/

"Executives worry that whatever assurances the White House gives them, an angry Congress might impose new rules on banks that participate, particularly on pay. . . . “We’re certainly not ( Read more... )

obama, economics

Comments 5

corvus_rex April 30 2009, 19:45:26 UTC

They sure didn't mind taking the money before, did they? I'd like to see them all nationalized and combined into one large Reich's Bank. That would be awesome.

calidor April 30 2009, 20:20:56 UTC

Either your trying to provoke something or you've really drank the Flavor-Aid.

corvus_rex April 30 2009, 21:32:16 UTC

We are never going to agree on this one, my friend. I really, really don't like people or institutions with a lot of money. Regardless of how it was done they made that money off of the community that supports them, and they owe some of that back. I am even less fond of it, when that company or group takes their money and leaves or puts their business elsewhere (like China, or India, or Costa Rica). You can call me a socialist if you like but that is really a loaded word. After all in the turn of the last century, plenty of wealthy people offered things back to the community because they wanted to. Bill and Malinda Gates do the same thing now. I think of it as a duty. Think of it as a corporate feudalism if you like but the guys with the most should at least pretend to care about people under them. Even if it is something as simple as letting them keep their jobs.

calidor April 30 2009, 22:16:36 UTC

So how is a government with even more power and even more money any more or less responsible to their people? How will it be any different? We have seen time and time again socialist and communist governments fail normally due to greed of the leaders and laziness of the people. If you don't have to work why would you? Why would the average amtgarder? If you get the same pay and lifestyle as a CEO, then why take on the extra stress ( ... )

corvus_rex May 1 2009, 14:07:38 UTC

Look, you can't do economic triage. You and Jay both always like to toss around these extreme examples of people who exploit the system. Yes, those kinds of cases are always going to exist. Big deal. There are plenty of good people out there who need aid; at least for some period of time. It takes an average of six months for someone to find a job that is equivalent to the one they lost. Six months can be a long time. I would much rather have welfare mothers out there cranking out kids and still have the option of benefits than close the whole system down because some people are gaming it. Hell, if you took this attitude towards law we would be living under the Napoleonic code. Look, a handful of guilty people walk so lets make everyone guilty. How insane is that ( ... )