USA Political Thread 2024
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Did the banks lose any money in 2008? No because Obama bailed them all out with taxpayers money. Bear Sterns, Citigroup etc.... Banks may be evil but they are NOT stupid. Lots of regular people lost money though and were evicted from their homes.....6,000,000 people. But hey...that Obama was such a great guy compared to the💩💩💩 EVIL ORANGE MAN
Oh, the banks are stupid! But the stupid are mean, miserable assholes and have the power to screw us.........Did the banks lose any money in 2008? No because Obama bailed them all out with taxpayers money. Bear Sterns, Citigroup etc.... Banks may be evil but they are NOT stupid. Lots of regular people lost money though and were evicted from their homes.....6,000,000 people. But hey...that Obama was such a great guy compared to the💩💩💩 EVIL ORANGE MAN
Banks want to make money, their prime business is lending money, with the guarantee that if the company that defaults hands over all the money (by the liquidating of the company assets) first to the bank. Banks essentially are mortgaged up to 80% of a loan for any property that has a mortgage. So when the value of the property mortgaged falls below that 80% it lended; they will lose money.
The problem is with real estate. If I list my house for 100K, and it sells for 120K, the price of that house is overinflated. So when a alot of people in the real estate business keep saling houses at overinflated prices (because there is a demand and lack of affordable housing- which is of course be driven by banks, realtors and house price estimators, wanting to make money), which overinflates the price of housing over a 20-40 year period. As long as this overinflating of house prices continue (so that money is being made), everything is good. But in 2008 the value of those overpriced houses fell way and people started losing their houses to the bank, the banks lost their cashflow and the banks were gonna fail. Which brings back the fall of the 1929 stock market, where there was a run by people to withdrawal money from the banks.
Banks are not stupid. They always make money. The bottom did not fall out for the banks, because the government came in and bailed them out preventing a second collapse of the economy like the 1929 economy.
Pls note that alot of empty NY city (multi-million dollar apartments) were bought with cash and then immediately remortgaged and the money invested in stocks/bonds. Some experts think the money came from criminal operations and the banks just laundered the money for the criminals. This is why companies should have a human face, not some numbered company, where governments don't know where the money came from.
I would guess that every major city in the world has apartments like this, bought from criminal activities, while the banks laundered the money thru real estate transactions.
Prime example is Vancouver in the last 30-40 years real estate was being brought from money from China. Its also a fact that in the 1990 and early 2000s alot of stocks and mutual funds that western (Europe and North American) countries invested in China and the far east failed/ went out of business. Where did most of this money go? Probally transferred in some way to a new company.
Now that I've seen all these memes, maybe you're right about Trump after all.
You present a pretty compelling argument.
I will have to rethink everything.
Sad.
Well, I disagree. Most of the bankers I know are not that bright although admittedly some are.
I would definitely concede though that the system is essentially controlled by them. They have massive advantages which allows them to weather their own stupidity or issues in the economy. And of course, no one wanted 1929 again so even if they didn't deserve it, they were bailed out.
And of course, I would agree with your implication that they are corrupt.
Awesome, congratulations geniuses for bringing a genius leader and make everyone pay with identity crisis, illegal migration, wars etc. Incapable of convincing anybody in his favor causing instability in the whole world.
This is so rich. Trump has continually supported himself with supporters like this. Grifters for grifters! Yee-haw.
You said it yourself the bailout of 2008 . Look it up when the program and rules were introduced to bail the banks .Did the banks lose any money in 2008? No because Obama bailed them all out with taxpayers money. Bear Sterns, Citigroup etc.... Banks may be evil but they are NOT stupid. Lots of regular people lost money though and were evicted from their homes.....6,000,000 people. But hey...that Obama was such a great guy compared to the💩💩💩 EVIL ORANGE MAN
Just a reminder George W. was still in office until Jan 20th 2009 .
Could Obama have had the opportunity afterwards to slap the banking industry with harsher regulations and prevent huge bonuses to the executives ? I would say....most definitely. He listened to the bank lobby like every other president before or since as money rules Washington.
But he was not the one with the executive power to sign what was going to be a estimated 700 billion dollar program after the fact .
According to others in this thread there were 74 million of them out there ...
But you know that thing about critical thinking, being able to read with comprehension, and that stupid is strong motif.
Ah the shit show that is our neighbours to the south.
I understand people not liking Trump. The problem is, that Biden is demented and not running the country and its difficult to tell exactly who is and their immigration policy in light of the recent ISIS attack on the Russian concert hall is a recipe for absolute disaster and makes the United States...and us as well easy marks for a series of coordinated attacks similar to that across the North American continent. If I was an American I could not vote for someone who just allows people to stream across the border in unlimited numbers and costing billions of taxpayers dollars for free medical, credit cards, travel and housing while plugging and ruining an already inadequate education system and taking away medical services from American citizens.
And dont say its the Republicans fault. That supposed bipartisan border deal was a red herring meant to entice Republicans to vote for a 60 billion dollar weapons package for Ukraine that would not have prevented illegal migration but in fact legalized it.
And dont say its the Republicans fault. That supposed bipartisan border deal was a red herring meant to entice Republicans to vote for a 60 billion dollar weapons package for Ukraine that would not have prevented illegal migration but in fact legalized it.
That is correct, though it is frequently attributed to him in all media, which is why I was mistaken.. In any event the actual point was that banks as an instutution are not stupid though individuals in them may be. They never lose money.
We have had Trudeau in power for a decade. I wouldnt be so fast to criticize anyone elses intelligence. reading comprehension or critical thinking.
Yeah but who cares, People are OK to start world war and tear down the country into pieces because hate for orange hair man is biggest of all.
I just believe that your assessment of the situation is wrong. You can believe what you say is true but many of us will not believe this line. Yes, go ahead and try to frighten us that we have to support Trump because somewhat he will prevent war and nukes. Not even close to believable. I am astonished by your views. Wow!
Biden is demented?
have you not seen the clips of Trump? there are more than a few, anyone who isn't biased would wonder why he isn't in a old folks home
I've seen at least 3 in just the last week, he's babbling on, making absolutely no sense in what he's saying
no one covers him properly, the left doesn't want to give him airtime, Fox won't cause their viewers don't care how stupid he is
and the bipartisan border deal, was mostly a very conservative Senator who drew it up, it also included more to deal with immigration than they've, either have passed before
Biden isn't great, even good, but compared to Trump, he looks competent
that's not saying much, but Trump is all about Trump, not America
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