Making my List and Checking It Twice

[DarlingVivacia]

This article got me to thinking. I think it's high time we all joined forces; a collaboration of sorts. Let's send Hank and Co. a list of our personal financial obligations, the debt that weighs us down, and ask him to assume it and throw it into the RTC.

I'll start:

1. mortgage, home equity line, and a little extra for that honeymoon to Hawaii I have been postponing.




What is a Resolution Trust?

 

[Katyusha]

I had a friend tell me yesterday that it would be a lot worse if the government refused to bail out all these institutions. The effect it would have on our economy and what-not. He fully admits that this is a stop-gap measure, intended to stanch the flow of money out of...everywhere.

The problem, though, is that our government AND businesses are notoriously and horribly short-sighted. Someone puts a stop-gap measure into place that works in the short term, and everyone sits back and says, "Ah, it's working! Now we don't have to think about this for awhile." But they do actually stop thinking about it, oftentimes for more than awhile, and end up right back where they started.

In short, stop-gap measures don't work in this country because people can't tell a band-aid from stitches that will actually help to heal the wound.

Nobody has really put any thought into what an $11.5 trillion debt is going to do to my generation and all the generations after mine. What they care solely about is the here and now, and damn those of us who are going to have to pay for all this with more than our tax dollars.

 

[DarlingVivacia]

It is really infuriating. And somehow, the American people have little say in the final decision. The amount of power this gives to an unelected governing body is appalling. And the havoc that will ensue is sure to be mind boggling.

I feel like I am moving through Kubler-Ross stages of grieving as regards to my sadness over the demise of our once great nation (denial, anger, bargaining, depression, acceptance). Have been stuck on anger for a long time.

Think it's about time to move on and accept it. Perhaps then, change is possible.

 

[DesertPirate]

They need to pass one simple little law and this crap would end.

When a company fails The officers and board members will be left in the same financial condition as the average stockholder.
Strip their millions and leave them as destitute as most people. They would go back to making intelligent decisions.

 

[DarlingVivacia]

They need to pass one simple little law and this crap would end.

When a company fails The officers and board members will be left in the same financial condition as the average stockholder.
Strip their millions and leave them as destitute as most people. They would go back to making intelligent decisions.

I like this idea very much. Perhaps we should pass it on to Hank and Co!! And what about civil law suits, the citizens vs. all of the big money makers at said firms? Perhaps we could collect on their 2007 bonuses?

 

[Stella_Omega]

They need to pass one simple little law and this crap would end.

When a company fails The officers and board members will be left in the same financial condition as the average stockholder.
Strip their millions and leave them as destitute as most people. They would go back to making intelligent decisions.

Or at least, they would share our fun lives with us after they've screwed the pooch.

The stripped millions could go into a fund to recompense the now out-of-work, and the wall-street screwed. These execs could request the recompense out of these funds. They would recieve an averaged amount though, not a proportunate.

 

[Katyusha]

They need to pass one simple little law and this crap would end.

When a company fails The officers and board members will be left in the same financial condition as the average stockholder.
Strip their millions and leave them as destitute as most people. They would go back to making intelligent decisions.

I like this idea.

 

[SEVERUSMAX]

It is really infuriating. And somehow, the American people have little say in the final decision. The amount of power this gives to an unelected governing body is appalling. And the havoc that will ensue is sure to be mind boggling.

I feel like I am moving through Kubler-Ross stages of grieving as regards to my sadness over the demise of our once great nation (denial, anger, bargaining, depression, acceptance). Have been stuck on anger for a long time.

Think it's about time to move on and accept it. Perhaps then, change is possible.

Independent, unelected Federal agencies and commissions, or quasi-public private cartels (Federal Reserve, anyone) are my pet peeve. But then, I'm a militant Constitutionalist and a libertarian (technically registered independent, but mostly libertarian in my leanings).