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 CrakrJak
Male, 40-49, Midwest US
 14374 Posts
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Friday, October 07, 2011 5:32:48 AM
SarahofBorg: The banks failing wouldn't have been a disaster, The FDIC and the Federal Reserve step in and auction off failed banks, they insure customers deposits and they've quite practiced at it. Many smaller banks did not get bailed out, failed, and have been auctioned since the housing crash.
The banks that were supposedly "Too big to fail" was a load of crap, they should've failed and been auctioned, our country would be much better off and the greedy executives that got rich off their loan fraud wouldn't have been rewarded with millions of dollars in bonuses. |
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 magerune
Male, 18-29, Canada
83 Posts
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Friday, October 07, 2011 12:26:54 AM
Banks should be regulated so they don't close. Up here in Canada know how many banks we lost? 0 We didn't lose ANY banks because our government keeps them in check, thank god for liberal politics.
If Harper had his way before the recession our banks would have been as free to loan and go bankrupt as American banks. |
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 kcpd2050
Male, 40-49, Midwest US
325 Posts
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Thursday, October 06, 2011 11:31:15 PM
Why don't you cry about it. |
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 Atrayu4u
Female, 18-29, Western US
1106 Posts
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Thursday, October 06, 2011 9:19:17 PM
SarahofBorg: (mostly because yours was the first comment I read) I agree with you, except on saving banks. Banks are businesses, and some businesses fail. There are other banks to choose from, and many of them are not as greedy and out of control as the ones that fail. |
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 SarahofBorg
Female, 18-29, Eastern US
3526 Posts
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Thursday, October 06, 2011 6:59:16 PM
Truth is, saving the banks IS important, because not bailing them out is exactly what lead to the Great Depression. There can simply be no economy without functioning banks. Of course, they do get severely out of control and reckless, but we're still dependent on them. |
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 dang007
Male, 30-39, Southern US
488 Posts
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Thursday, October 06, 2011 12:44:58 PM
>>>George H.W. Bush was vice pres<<< blah blah blah
Dodd was in the senate since 1980 and was Chairman of the Senate Banking Committee until he announced his retirement.
Frank was in the house during both bank related economic melt downs and I believe was one the house Financial Services Committee.
Coincidence? |
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 tobyvictory
Male, 70 & Over, Asia
412 Posts
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Thursday, October 06, 2011 10:08:19 AM
George H.W. Bush was vice pres and president during the S&L scandal and his punk ass kid, G.W., was pres during this even worse banking crash. Coincidence? |
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 MeGrendel
Male, 40-49, Southern US
2331 Posts
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Thursday, October 06, 2011 6:28:58 AM
chillimac-" its pretty much the worst situation possible to be in his line of work. so stop kicking a guy when hes down."
When people aren't building homes it's a bad time to be a construction worker. That has ALWAYS been the case. It's not something that just recently happened.
That's like feeling sorry for a guy who wants to be a farrier or a cooper. Not much of a demand for either of those any more. Should we blame 'Da Rich' or 'Da Banks' for that? Or would you want to tear down Mr. Ford's first plant in order to protect the farrier's job?
Intelligent people in the construction business usually have another source of income. (Hell, intelligent people in ANY industry usually have another source of income.)
I've changed career types twice in my life to something more lucrative. And still work on the side.
And it's ALWAYS a bad time to sign a mortgage with crappy terms. |
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MeGrendel
Male, 40-49, Southern US
2331 Posts
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Thursday, October 06, 2011 6:20:20 AM
jtrebowski-"Because he did everything right."
Um, no. He did not do 'everything right'.
jtrebowski-"He followed the same formula of hard work and determination that defines the "American dream", and he still lost it."
Again, the American Dream does not gurantee success. It gurantees the OPPORTUNITY of success. He obviously didn't prepare for the first setback. And got into a bag mortgage in the second (which he was not forced to do).
jtrebowski-"He is one of millions with the same story."
And there are millions with other stories. There are millions who have been successful. There are millions that never had his success. ALL had the OPPORTUNITY.
jtrebowski-"Doesn't that tell you the system's broken and corrupt?"
Nope, millions that are enjoying generations on welfare tells me the system is broken and corrupt. But it's not the same system you're referring to. |
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 chillimac
Male, 18-29, Eastern US
438 Posts
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Thursday, October 06, 2011 1:44:04 AM
"Clearly this guy isn't very good at what he does/did.
Perhaps next time he will save some money up? or maybe he will know when to let go of a failing business, or perhaps not and he will be remembered as an idiot.
...Idiot."
the man is a very small cog in a very large machine. in a time when alot of people are losing there homes not many are building new ones right? so its pretty much the worst situation possible to be in his line of work. so stop kicking a guy when hes down.
...idiot. |
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 sourkraut
Male, 40-49, Australia
313 Posts
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Thursday, October 06, 2011 1:35:42 AM
I don't mean to tread on the earnest debate that's in full swing here at the moment, but as someone who has worked for more than twenty years in the building industry I find terms 'honest' and 'builder' mutually exclusive... |
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 xCYBERDYNEx
Male, 18-29, Southern US
4798 Posts
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Thursday, October 06, 2011 1:28:53 AM
tl;dr |
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Biship
Male, 18-29, Western US
10 Posts
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Thursday, October 06, 2011 1:17:11 AM
This attitude is surfacing a lot lately.
But one has to point out;
The global population has been growing rapidly for a long time. Housing has been explosive. Not houses. Housing. There are more apartments than houses, and it will only continue to lean that direction. A "home builder & designer" makes me think he built houses. And not only did he make that his business, he did it twice. I must say...
Perhaps you made choices in your life that were wrong for the goal you had in mind. It IS a possibility.
I'm in a business that is quite probably going to fail, or be completely outsourced, but I'm not going to delude myself. I might ( gasp ) have to work hard my whole life, and then die. And I don't mean work hard until 62. I mean work hard until I die.
In fact that happens to be my goal. I want to work hard, my ENTIRE life. |
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CrakrJak
Male, 40-49, Midwest US
14374 Posts
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Thursday, October 06, 2011 1:16:32 AM
Boss didn't have workmen's comp, I had insurance but it ran out, surgery on my knee and back has helped but I've been left permanently disabled.
Even after all this misfortune, I don't blame my boss or the health care system. I don't blame the banks because I was wise enough to save up my money and pay cash for nearly everything I bought, didn't get into credit card debt, and didn't get in over my head in a mortgage or car payments that I couldn't afford.
In other words, live within your means and don't buy poo you really don't need, save your money for the stuff you want to buy, and quit bitchin' about how rough you have it, it could be a hell of a lot worse, you could be disabled for life and have to live on $160 a week like me. |
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CrakrJak
Male, 40-49, Midwest US
14374 Posts
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Thursday, October 06, 2011 1:06:48 AM
I was making $500 a week working for a home remodeling contractor, had a great apartment, eating out nearly every night, paid off my furniture, had just bought a brand new computer, nearly 400 dvd movies and every Friday went out to see a new movie. 2004 the apartment building I was living in burned down to the ground, while I was at work, lost everything I had except the clothes on my back and my car, but I still had my job and my employer even gifted me money to get back on my feet. ... Going to shorten the story here a bit ... Eventually the economy started to crash, the stress was getting to my boss and he nearly died from a heart condition, he had heart surgery, was in a coma for 3 weeks, he lost his voice and couldn't effectively sell jobs anymore, the business fell apart, while moving furniture out of his old office I hurt my back, screwed up my left knee severely, and it broke my wrist. |
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 pergas
Male, 18-29, Australia
27 Posts
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Wednesday, October 05, 2011 11:43:31 PM
America isn't a genie, that is, unless you're a bank about to collapse and wish for money. |
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seetherage
Male, 18-29, Eastern US
87 Posts
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Wednesday, October 05, 2011 10:51:35 PM
Like someone said, the 'American Dream' is about not stopping you from succeeding, not promising that you will succeed if you do technical school. I know an aviation mechanic that used to work back in the 90's. After he got laid off he went back to college, got his engineering degree and now works for GE. Sure he wishes he was making more money, because his undergrad doesnt guarantee him a 'master' engineer position, but if he Really really wanted to, no one is stopping him from going back to college... you know, besides having a family to support. But he chose to have sex, get married and have a kid, the government didnt force him to do it. The opportunity is there if you plan for it. America isn't a Genie in a bottle ready to grant you wishes, you have to scrub that mofo hard!!! But if you do, you have a chance of getting what you want. |
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 robosnitz
Male, 40-49, Eastern US
2752 Posts
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Wednesday, October 05, 2011 10:39:54 PM
I used to be a aviation mechanic in Florida.Back in Dec.2007, myself and over 700 other employees got laid off.I couldn't find any work,until I moved to upstate New York and got a job as a part-time custodian for a local school in early March 2009.Between that time, I had to go on welfare, because my unemployment wasn't cutting it. I went from $500+ a week to $180 a week.Still had to be on welfare so my kid and I could eat.I just lost my job as a custodian last week, because the small business I work for downsized to make more money.Meanwhile, my ex-fellow employees, are working harder and without any raises or benefits, or chances to advance at the company.Sucks to be me,right? I think it sucks more for the hard working people whos taxes pay my bills. I'd rather be working, than sitting on my ass, looking at the rather bleak classifieds that show hardly any job openings.I know how the dude in the photo feels.Say what you will,but there is no American dream. |
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Bealzebubble
Male, 18-29, Australia
187 Posts
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Wednesday, October 05, 2011 9:54:08 PM
I guess his point is that if he didn't get a bailout why should banks? |
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 Liquidglass
Male, 18-29, Eastern US
1098 Posts
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Wednesday, October 05, 2011 9:15:37 PM
cont...
And if you agree with him, you like playing the victim too. |
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Liquidglass
Male, 18-29, Eastern US
1098 Posts
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Wednesday, October 05, 2011 9:14:06 PM
cont...
And if you agree with him, you like playing the victim too. |
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Liquidglass
Male, 18-29, Eastern US
1098 Posts
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Wednesday, October 05, 2011 9:05:02 PM
cont...
And if you agree with him, you like playing the victim too. |
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Liquidglass
Male, 18-29, Eastern US
1098 Posts
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Wednesday, October 05, 2011 9:04:33 PM
""He just needs to quit blaming others. I'm sure he didn't blame 'The Rich' when he had a successful business, why is it their fault when it fails?"
Because he did everything right. He followed the same formula of hard work and determination that defines the "American dream", and he still lost it.....twice. He is one of millions with the same story. Doesn't that tell you the system's broken and corrupt?"
So because he did everything "right" which is arguable since he was supposedly successful twice for long periods of time without accumulating some sort of wealth. Then he gets to play the victim when it turns out he didn't prepare the 2nd time around even though he had a CLEAR warning the first time.
Sounds like a wanna-be victim to me. He wants to blame someone else for all his problems. In fact he even blames the economy for losing his wife....seriously?
And if you agree with him, you like to play the v |
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 jtrebowski
Male, 40-49, Southern US
3057 Posts
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Wednesday, October 05, 2011 8:25:49 PM
"He just needs to quit blaming others. I'm sure he didn't blame 'The Rich' when he had a successful business, why is it their fault when it fails?"
Because he did everything right. He followed the same formula of hard work and determination that defines the "American dream", and he still lost it.....twice. He is one of millions with the same story. Doesn't that tell you the system's broken and corrupt? |
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Wowummwow
Male, 18-29, Western US
263 Posts
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Wednesday, October 05, 2011 8:14:51 PM
We are in an economy "where even people with master degrees and doctorates cannot find work, where highly skilled workers are out of business because of the economy."
These people who went to graduate school, who were worked hard to be in a stable position in life, are being let go from jobs they have been at for 20+ years. Jobs which depended on federal contracts which have been pulled and canceled in recent years because the government had to shift money to banks that are "too big to fail" instead. |
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