Can the Govt really fix the economy?

Re: Can the Govt really fix the economy?

PostBy: brckwlt On: Mon Mar 16, 2009 9:47 pm

coaledsweat wrote:
Black_And_Blue wrote:Simply lower every U.S. citizens standard of living to that of the infiltrating 3rd world immigrant.


Isn't that what they are doing right now?


i would have to agree. Get everyone to the same level as the poor in this country. that is the Obama plan
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Re: Can the Govt really fix the economy?

PostBy: BillMarti On: Mon Mar 16, 2009 9:49 pm

Thats way to rich for me

Bill S.
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Re: Can the Govt really fix the economy?

PostBy: jpete On: Mon Mar 16, 2009 9:51 pm

Devil505 wrote:
jpete wrote:Besides, Romney wasn't the employer. Not that I have any love for him, but facts are facts.


Give me a break!....Romney hired that gardening company because their price was good BECAUSE they hired illegals. Romney was the beneficiary of cheap illegal labor, right??


jpete wrote:But the R's get a slave labor force and the D's get new voters so there is no will to stop it.


jpete wrote:Remember when I said a couple posts back about how the R's like their slave labor?


I had my floors sanded an refinished a while back. I can't SAY they used illegal immigration but I have my suspicions. But if I went around calling ICE every time I thought I saw an illegal, I'd have to quit my job.

The point is, when it was found that the people working at Romney's house were in fact, illegal, what happened? I never heard that deportation proceedings occurred .
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Re: Can the Govt really fix the economy?

PostBy: BillMarti On: Mon Mar 16, 2009 10:17 pm

The government drug their feet on ENRON I can't wait to see how long it takes them to react to AIG. I'll bet they'll throw more money at them to "Ahem" "Ahem" to help them out. :roll:

Bill S.
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Re: Can the Govt really fix the economy?

PostBy: Poconoeagle On: Mon Mar 16, 2009 10:20 pm

"WASHINGTON (March 16) - Joining a wave of public anger, President Barack Obama blistered insurance giant AIG for "recklessness and greed" Monday and pledged to try to block it from handing its executives $165 million in bonuses after taking billions in federal bailout money. "How do they justify this outrage to the taxpayers who are keeping the company afloat?" Obama asked. "This isn't just a matter of dollars and cents. It's about our fundamental values."
Obama aggressively joined other officials in criticizing American International Group , the company that is fast becoming the poster boy for Americans' bailout blues. "
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Re: Can the Govt really fix the economy?

PostBy: BillMarti On: Mon Mar 16, 2009 10:28 pm

But aren't they doing the same thing as BO spending money that doesn't exist?


Bill S
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Re: Can the Govt really fix the economy?

PostBy: jpete On: Mon Mar 16, 2009 10:31 pm

Poconoeagle wrote:"WASHINGTON (March 16) - Joining a wave of public anger, President Barack Obama blistered insurance giant AIG for "recklessness and greed" Monday and pledged to try to block it from handing its executives $165 million in bonuses after taking billions in federal bailout money. "How do they justify this outrage to the taxpayers who are keeping the company afloat?" Obama asked. "This isn't just a matter of dollars and cents. It's about our fundamental values."
Obama aggressively joined other officials in criticizing American International Group , the company that is fast becoming the poster boy for Americans' bailout blues. "


The Contract Clause in the Constitution limits STATES in what they can and can't do among private parties which have entered into a contract. I wonder how far the Federal government will go?

AIG and it's executives had contracts which promised those "bonuses". Is BHO prepared to take the next step toward socialism and void those contracts? Time will tell.
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Re: Can the Govt really fix the economy?

PostBy: BillMarti On: Mon Mar 16, 2009 10:37 pm

I understand the contract but again I don't understand where the money is coming from and if it is indeed tax money then whoever made the deal with no strings ought to be prosecuted or in some way be held responsible.

Bill S.
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Re: Can the Govt really fix the economy?

PostBy: jpete On: Mon Mar 16, 2009 10:43 pm

BillMarti wrote:I understand the contract but again I don't understand where the money is coming from and if it is indeed tax money then whoever made the deal with no strings ought to be prosecuted or in some way be held responsible.

Bill S.


Find the list of the members of Congress who voted for the bail out and you will have found the list of defendants. :D
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Re: Can the Govt really fix the economy?

PostBy: JLF53 On: Tue Mar 17, 2009 1:53 am

Yanche wrote:Interesting opinion. Sounds like a subject that must be work related. Do others share your opinion? Could you provide references that discuss it in more depth? Sarbanes-Oxley seemed to be a need *censored* reaction to some other accounting crisis, don't remember the details. Small businesses seem to not like the cost of complying and say it shouldn't reply to them. Is there some professional society group that would have an opinion on it? Accounts professional society, etc.? Just trying to learn more.

This might be a key to picking stocks. I find it hard to believe a company like GE who has great skills and assets in many areas and strives to be #1 or #2 in their business interests has taken such a stock hit. Perhaps GE Capital is dragging it down and a more studied analysis would show it to be largely accounting rules.


I have not conducted any credible in-depth quantitative research, but here are three links that might assist you in your desire to learn more:

http://www.gaebler.com/The-Sarbanes-Oxl ... uction.htm

http://www.financialpost.com/opinion/st ... 36f196d5ff

http://en.wikipedia.org/wiki/Sarbanes-Oxley_Act

GE is another matter. For the post Jack Welch era they have be engaging in the buying and selling of companies, much more than in organic growth. A perfect example is their acquisition of a financial services company called Heller Financial for about 6 billion dollars. Once acquired GE pushed the human capital from Heller out the door, dismantled Heller and spread the pieces it across multiple GE businesses. The financial trail was so complex, it would be impossible, 3 years later to determine if the acquisition was profitable or not. GE has some of the world's best PR and is not necessarily worthy of their reputation. I hold GE stock, a mistake, but it is not the time to sell it. One might want to consider why GE internalized the 6 Sigma Quality Control program. Unlike ISO, where the audits and measurements are independent, GE formed its own internal 6 Sigma teams and many qc projects did not stand the test of time.

Any way a lot of the losses and financial firms crisis and losses are on paper. The financial firms and other institutional investors are having to deal with under valued illiquid assets that if valued on a 3 or 5 year running average or on a cash flow valuation, would have a much higher valuation. It will take time to work through this crisis.

At any rate, I have yet to see the government run anything better that the private sector, so the thought of the government fixing the economy is challenging. I strongly disagree with run away spending whether it is under Bush or Obama. Bill Clinton looks better everyday!

Editing due to typing Not a strength!
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Re: Can the Govt really fix the economy?

PostBy: BillMarti On: Tue Mar 17, 2009 6:51 pm

So now our wonderful government brought the 6 million dollar fiasco of AIG to everybodys attention but what they won't tell you is about the 13 billion AIG sent to several over seas banks. So lets give out more of our tax dollars with no strings attached so we continue to be respectable fools. GM got us AIG got us who's next we'll close our eyes again and again we love smoke and mirrows. Kind of makes you proud you voted for theses fools it can only happen in America.

Bill S
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Re: Can the Govt really fix the economy?

PostBy: jpete On: Tue Mar 17, 2009 7:00 pm

Don't forget the $100 billion Geithner wants to send to the IMF. And the .07% of the GDP that Obama wants to give to the UN to stomp out poverty around the world. Although if things keep going the way they are, that won't be enough to buy a Happy Meal! :D
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Re: Can the Govt really fix the economy?

PostBy: stockingfull On: Tue Mar 17, 2009 10:23 pm

To me, the most interesting part is that "contracts must be respected," so long as those contracts are in favor of banks, like mortgages, or finance execs, like the AIG bonuses, but not if they're in favor of lowly union members....

And, don't get me wrong here, I'm in favor of ditching..., um, I mean "restructuring," 'em all.
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Re: Can the Govt really fix the economy?

PostBy: tvb On: Tue Mar 17, 2009 11:34 pm

stockingfull wrote:To me, the most interesting part is that "contracts must be respected," so long as those contracts are in favor of banks, like mortgages, or finance execs, like the AIG bonuses, but not if they're in favor of lowly union members....

And, don't get me wrong here, I'm in favor of ditching..., um, I mean "restructuring," 'em all.


I'm glad I wasn't the only thinking that. What makes their contracts any more important than those held by the auto workers? I liked Cuomo's letter pointing out that without the money, they would be bankrupt and there wouldn't be any contracts then.

I was behind a very expensive car today with the license plate, "BullRun". For a split second, I wanted to get all Evelyn Couch on it but smartly realized the driver had lots more money than I did to pay an attorney.
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Re: Can the Govt really fix the economy?

PostBy: BillMarti On: Wed Mar 18, 2009 1:40 pm

The government owns 79% of AIG and Mr. Libby was put in place by the government so how did this travesty happen. Why do we continually allow our government to blame shift when they are right in the middle of this. The 2010 election can't come soon enough I hope there are some constitutionalists out there to run so we can get rid of all the incompetent people in office both demicans and republicrats.

Bill S.
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