Bail-outs

CygnusX1 · Post by **CygnusX1** » Tue Oct 07, 2008 6:17 am

Looks like America is STILL the world's sugar daddy.

The Euro is slipping and the European markets are still riding on our coattails.

We're always known as "imperialist" and "arrogant" - until their economies take a dump.)

I think the worm is gonna turn, and we'll be France's "friend" again real
soon.

Big Blue Owl · Post by **Big Blue Owl** » Tue Oct 07, 2008 6:22 am

Nah, we're not arrogant or anything.

ElfDude · Post by **ElfDude** » Tue Oct 07, 2008 5:14 pm

This is SO good...
A Saturday Night Live skit that hits the nail right on the head:
http://www.youtube.com/watch?v=k3igb71c_XI

By the way... the Sandler couple represented in here, they're real people who basically did what's parodied in the skit.

CygnusX1 · Post by **CygnusX1** » Wed Oct 08, 2008 5:22 am

ElfDude wrote:This is SO good...
A Saturday Night Live skit that hits the nail right on the head:
http://www.youtube.com/watch?v=k3igb71c_XI

By the way... the Sandler couple represented in here, they're real people who basically did what's parodied in the skit.

what skit was it?

I prolly saw it when it aired, just wondering.

ElfDude · Post by **ElfDude** » Wed Oct 08, 2008 6:59 am

CygnusX1 wrote:
ElfDude wrote:This is SO good...
A Saturday Night Live skit that hits the nail right on the head:
http://www.youtube.com/watch?v=k3igb71c_XI

By the way... the Sandler couple represented in here, they're real people who basically did what's parodied in the skit.
what skit was it?

I prolly saw it when it aired, just wondering.

In it, George Bush introduces Speaker Pelosi and Barney Frank, who in turn introduce a bunch of victims of the mortgage crisis. First a pair of losers who should never have been given credit but were both given subprime mortgages and now cannot make their payments. Then they introduce a yuppie couple who bought ten condos, hoping to sell them at a significant markup but of course they can't now. Then they introduce the Sandlers who built a mortgage company that specialized in subprime mortgages that they then sold to Wachovia. It was one of the worst acquisitions by any company ever, and it helped precipitate the collapse of Wachovia last week.

PELOSI: This is Herbert and Marion Sandler. Tell us your story.

HERBERT: My wife and I had a company which aggressively marketed subprime mortgages and then bundled them as securities to sell to banks such as Wachovia. Today our portfolio is worth almost nothing, though at one point it was worth close to $19 billion.

PELOSI: My God. I am so sorry. Were you able to sell it for anything?

HERBERT: Yes, for 24 billion.

PELOSI: I see. So in that sense you're not, so to speak, actual victims.

HERBERT: No-o-o. (laughing) That would be Wachovia bank.

MARION: Actually, we've done quite well. We're very happy.

HERBERT: We were sort of wondering why you asked us to come today.

MARION: Anyway, it's delightful to see you, Nancy.

Then they bring out George Soros, whom Nancy and Barney absolutely worship. He talks as if the entire economy is under his control and then demands that the yuppie man sell him his attractive wife.

A funny moment at the beginning is Pelosi talking about how Republicans are entirely to blame for the meltdown. George Bush steps forward and says something like, "Wasn't it this administration that attempted to tighten oversight but the Democrats blocked it?" Pelosi tells him absolutely not. Bush shrugs and backs off. Frank leans over and says, "He's sort of right this time..." Pelosi hushes Frank. "Don't tell him what he doesn't know!"

The whole thing is a hoot. But it's surprising how right they got all of it.

Big Blue Owl · Post by **Big Blue Owl** » Wed Oct 08, 2008 7:02 am

It is great. I can't usually laugh like that this early in the morning, but I had no choice

ElfDude · Post by **ElfDude** » Wed Oct 08, 2008 7:07 am

"Your wife is physically attractive. Sell her to me!"

Walkinghairball · Post by **Walkinghairball** » Wed Oct 08, 2008 7:16 am

ElfDude wrote:"Your wife is physically attractive. Sell her to me!"

And they agreed!

CygnusX1 · Post by **CygnusX1** » Wed Oct 08, 2008 7:25 am

ElfDude wrote:The whole thing is a hoot. But it's surprising how right they got all of it.

I watched it last week. It WAS funny. Especially how they demonstrated
how insignifcant W is now.

They kept telling him to shut up and stay in the backround...nice.

Walkinghairball · Post by **Walkinghairball** » Fri Oct 10, 2008 6:56 am

Here is how I feel.

Really I do.

ElfDude · Post by **ElfDude** » Fri Oct 10, 2008 7:13 am

BRUSSELS (Reuters) - Former President Jimmy Carter said on Friday the "atrocious economic policies" of the Bush administration had caused the worst global financial crisis since the Great Depression of the 1930s.

Carter told reporters on a stopover in Brussels that "profligate spending," massive borrowing and dramatic tax cuts since President George W. Bush took office in 2001 were behind the market turmoil and economic crisis.

"I think it's because of the atrocious economic policies of the Bush administration," said the 84-year-old Democrat, who served in the White House from 1977-1981 during a period of high inflation and energy crisis.

I don't want to stoop to name calling but this guy is a FREAKIN' IDIOT! Either that or he's a big fat liar. As was pointed out in the LA Times in 1999 (though they were touting it as a big success at the time), it all started with Carter's 1977 policies, later pushed by the Clintons to bully lenders into... aw you remember it from earlier in this thread.

*goes to take a chill pill*

Big Blue Owl · Post by **Big Blue Owl** » Fri Oct 10, 2008 7:51 am

It's like, to you guys, Democrats are responsible for every negative thing that has ever happened in the history of the world and the Republicans can do no wrong, never have, never will. It's so extreme that it is difficult to be taken seriously. It's not that I don't enjoy the conversation, but it is becoming increasingly impossible to actually have one.

Isn't acceptance the next step? I suggest we all get to that asap, as it'll make it easier come November 4, regardless of the outcome..

Walkinghairball · Post by **Walkinghairball** » Fri Oct 10, 2008 8:12 am

I have backed off.

I also realize I'm not being singled out.

I hate politics and all the mud.

They are all crooked. have I not said this a bazillion times.

ElfDude · Post by **ElfDude** » Fri Oct 10, 2008 8:29 am

Big Blue Owl wrote: Isn't acceptance the next step?

That's a very good question, BBO. And a really good way to frame what's going on. Gives us all a way to reference it.

Can you remind me what all the steps are? I've forgotten.

I think we've all gotten past denial... at least I hope so.

A number are in the fear step.

The government seems to be in the negotiating phase...

I suspect a lot more implosion will have to take place before we hit the acceptance step.

Then what do we do? Do we keep looking to the government to take care of us? Or do we take matters into our own hands and learn and grow from the experience?

Things changed a lot during the great depression. Government grew... a lot. A lot of new social programs arose. A lot of people who had once had an independant spirit turned to government. Do we build on that, grow the government even more? That's what's actually happening now with the talk of government investing in banks and John McCain (Republican) suggesting that the treasury buy up defaulting mortgages so no one loses their house. Or do we take our medicine and try to turn back to that independant spirit that the country was built upon?

CygnusX1 · Post by **CygnusX1** » Fri Oct 10, 2008 9:08 am

ElfDude wrote: Do we keep looking to the government to take care of us? Or do we take matters into our own hands and learn and grow from the experience?

If we all choose the latter, we'll be better off...

If we wait for "Uncle" to take care of us, we may as well change our
country's name to New France.

just sayin'.