Tim H.

Recent Policy Decisions and a Greater Depression

I disagree with your analysis and here is why: A few years ago I had a discussion with my brother when the Iraq war was looking like as McCain said: "we will be there 100 years." Spending billions more on Iraq in process while this country's infrastructure decayed. Why were you not writing an article a few years ago stating the significant increase in cost of Iraq war was leading to a huge national debt and the Bush tax cuts of 2001 needed to be rescinded to help pay for the cost of war? My post is not an anti-war or anti-Bush rant. Merely my point is it seems to be okay to spend billions of US tax money to fund a war of choice. Yet when the government roles out stimulus bill which is more than just creating jobs but rebuilding the county's infrastucture. The people who were silent about the money spent in Iraq are now screaming bloody mary about the stimulus bill? Just seems kinda screwed up that this country spends billions on another country and that's okay. But if this country spends billions on itself. That's not right. Explain to me please why that is? I will use an example: There is $8 bil in bill to build high speed rail across country. This intent is to help decongestion our nation's roadways and air travel and promote conservation of energy. Being more energy efficient whether it's weather proofing, higher mileage in auto's or using power sources that use less energy (solar panels, energy efficient light bulbs) all lead USA to becoming more energy independent. So that stimulus bill is just not to create jobs but to upgrade this country's infrastructure. As for the foreclosure help... Fact is until the massive foreclosing's stop's this country's economy is never going to get revved back up. I understand the argument those people agreed to those terms but the foreclosing's need to be slowed down so people can stay in their homes. How does a foreclosed home that sits with no buying occupant help anyone? I find it really interesting that despite columns such as the one above and wall street's lack of excitement over what Obama is doing. His poll rating still remain high. Wall Street made alot of money in past few years and now the punch bowl has been taken away. Main street seems to approve. That bailout money is in loans so it is suppose to be repaid to tax payers years from now. As for the debt that is being created today. Under Reagan the national debt significantly increased yet I saw few columnist stating we were on our way to a great depression. Early in Reagan's term we were in a very bad recession too. No doubt down road the debt being created needs to be repaid and Obama has acknowledged this fact. Personally I think after economy recovers... A national gas tax is quickest way to repay that debt. This would force consumers to not go back to old driving habits, conserve energy and promote alternative energy travel. An author of a book about alternative energy said the technologies are there but to get the green energy infrastructure moving a base in the price of gas needs to be established. Bottom line is I disagree with this article but if the article is correct. Then Obama will have failed and as he told that audience in Florida: "We will have a new President." I hope Obama doesn't fail because it will be good for the country if he succeeds!

Why Capping Pay Is Likely to Work

Robert Perrego you didn't answer my question. If these commercial bankers etc... If they are soo smart and brilliant. How did they allow this crisis to happen? An average dumbazz can figure out that if you give someone a loan for a house they cannot afford. Then set up a subprime loan that's interest rate will kick in much higher when said loanee has no business geting loan in first place. Plus the loanee has crappy credit rating. That the first chance things go bad for loanee. The loanee will walk away from the home and default. Do you have to be a brilliant Ivy league Grad to figure out how screwed up that idea is? Yet these people looked the other way or OK'd the deals. This is unbelievable. I am outta here... BTW a good friend of mine just lost his job at a bank. So sit on that! Cutbacks ya know? Times are tough!

Why Capping Pay Is Likely to Work

HEY THINK!!! You sound like someone who deals with top CEO's... Oh My Gawd they are under soo much pressure. Life must be soo hard making all those millions or even hundreds of thousands of dollars and getting stressed out and hopping on a plane to some resort for a conference. Plus all those perks. Why don't you tell that story to someone making $50,000 a year with 4 kids and just lost their job. I don't really care how much these execs make. More power to them. BUT when thru irresponsibility and plain old freaking greed. Their decisions lead to the collapse of the financial industry and a recession. Then they have the tax payers bail their azzes out. Then whine because the government wants a piece off their azzes. Well yeah I got a problem with how much they are making. Reading some comments on this board just proves how out of touch the wealthy in this country are from the rest of us peons. If your wealthy you are special and deserve to make as much asyou wish even after the less wealthy tax payers have to bail you out from your screwups. No responsibility at all!!!!

Why Capping Pay Is Likely to Work

Robert Perrego you sound like an exec at one of these banks. Hey Robert who has gotten us into one of the worst finnancial crisis since the Great Depression? So whom at these bailed out banks is responsible? According to you Robert these top talent guys who bring in all the money will leave. Robert are these the same guys packaging these subprime loans into securities and selling them as AAA+ securities? If not then why didn't these TALENTED EXECS at these bailed out banks who are soo smart. Why didn't these guys spot what was going on with these phony securities and inform top level execs at these bailed out banks that "hey these securities are not legit and could destroy our company." I want some answers ROBERT. Please I am just an average dumb F_ck. Please explain this to me cause I just don't understand why some BRILLIANT banker should be making like 15 mil and all the other peon workers should be forced to scratch and claw for a pittance salary. If I sound mean then I apologize Robert because ya see.... I am F_Cking P_SSED OFF! These people don't even realize the jobs and lives they have ruined. F THEM ALL!!!!!!!!!!!!!

Why Capping Pay Is Likely to Work

James F. Reda says $500,000 is not alot of money... PLEAAAASEEEE! What the hell? To realize how out of whack these Wall Street Financials companies are is to read what Reda say's reprinted in this article. These people are soo outta touch with reality. These so called talented execs Reda speaks soo highly of are the one's who have put the banks at the mercy of tax funded bailouts. I submit that their may be an underling at one of these banks who is very talented and make's far less than $500,000. This underling has never kissed the right azzes and therefore fills under promoted. So since all these talented execs will leave for more money where? Since companies are laying people off left and right and hurting for cash. This underling takes the job and does a very good job. Making a name for himself and enriching himself down the road. If anyone just read my post do you not see what B_llsh_t these people like Reda are selling? I have another post below to reply to Robert Perrego.

Let's Buy Detroit Outright

Markos I don't actually disagree with your point. If it forces the auto makers to produce a profitable company and tax payer money involved that saves millions of jobs. Then yes the government has every right to put in place restrictions etc... Even to point what you suggest until at least the loans are payed back. I call them loans. One thing about the workers. Analyst keep bringing up the health care costs of UAW versus costs of say Toyota per car sold. I think it's what $1600 versus $200. But Markos (I like see a reply) a company like Toyota healthcare costs are not as high because the government of Japan and other foreign government has some kind of national health care program that takes the burden of health care costs off their companies backs unlike here in USA. So if this country would reform it's healthcare it would help all USA companies would it not. It sure would help the automakers. Unlike previous post I am not disparaging you Markos. You offered an idea and I just pointed out a problem in this country related to the costs of healthcare in that agrument about the costs per car. This goes for all american made products versus foreign competition. This country is at a disadvantage competing in the world economy because of health costs burdens on american companies. Instead of bailing out companies like BIG 3 automakers. maybe billions of that bank bailout should be used to reform healthcare which would not be a direct bailout but indirectly help ALL american companies would it not?

Should We Really Bail Out the Big Three Automakers with $73.20 Per Hour Labor?

I work in a union. Not Auto workers. Soo hey full disclosure. But I want to ask anyone reading these posts a question. Is it the union's fault that the Big 3 did not develop energy conserving automobiles like the Prius? Is it the union's fault for the lack of imagination at the Big 3 in developing automobile's people want to buy? Oil is under $60 a barrel. We are in a terrible mess. People aren't just buying cars. Look what Best Buy said today. Toyota stock has taken a huge hit along with the Big 3. It's not just about wage cost per car. It's management imagination and creativity that is also part of the issue. I read along time ago in an auto magazine a critic who said none of Big 3 have any original ideas and just copy others. Witness the bailout proposal. Where did they get that idea from?they saw the banks get bailed out. Now they want to be bailed out. What happened to GM's plan to ride out the storm til 2010 when it would save billion's from union managing it's own healthcare? Which is also around time of the VOLT being mass marketed? So don't just blame the unions. Blame should be placed everywhere with the Big 3!