HOW THE BIG BANKS ARE LOOTING MAIN STREET USA (This isn't capitalism. It's nomadic thievery)

Liberty News Online ^ | 04/06/2010 | Matt Taibbi

[Uncle Miltie]

"What state do you represent?"

Denial!

[briarbey b]

Absolutely no sympathy here!!!!

If you borrow money, pay it back or suffer!!!!!
*****

Spoken like a person with a job or a person living with mommy!! GET OFF the American People!!! Are you a moron or do your realize most people borrowed when they were employed!!! NOW they are not employed..is that their fault??? YOU need to pay the gov. debt..are you seeing that??? Have you looked at what YOUR portion of the countries debt is?? PAY IT SUCKER or SUFFER!!

Jeeshh..tick me off

[dalereed]

If they send me a bill I will pay my share as long as that ends it.

i’ve never borrowed for anything in my life except my home that I paid off over 20 years ago.

I’ve paid cash for everything else including my condo and my airplane.

In all my years in business i never borrowed a cent, it was run on the savings that started it and retained earnings.

If you don’t have the cash you don’t need it!

That’s how I was raised and have lived my 73 years.

[vpintheak]

It’s never the dumb person or in this case Country who goes into debt. It’s always someone else, and in this case the eeeeeevil banks. Whatever. Cut out socialism, and you will cut out the tumor.

[NYCslicker]

Every financial instrument entered into requires the consent of those in charge of the municipality. You can’t enter a swap without two willing parties. And there is a risk to a swap. You’re telling me these politicians didn’t understand there was a risk? That’s BS.

If people elect idiots to office, and/or the politicians in office don’t have the common sense not to spend all of the municipality’s money, then ultimately, as hard as it seems, the voters are to blame.

Power derives from the people, and the people get what they voted for.

The majority elected Obama, and now we have a more socialist America with the health care bill. Cap and trade is next.

In the financial markets, there are winners and there are loosers, and if you enter the market, and you don’t understand that or expect that you can get something out of nothing, then you deserve the outcome.

Unfortunately people get the government they deserve. It’s easy to blame financial institutions, and its harder to blame yourself. Just like Greece, who wants to point the finger at others who want the “cheat the people” its Greece’s warped social philosophy that’s the root of the problem.

If voters put idiots, and big spenders, and people who want to use financial instruments that they don’t understand in charge, there’s a price to be paid. They deserve the outcome.

Word to the wise in November, no matter which party they are in, best scrutinize who you vote for.

Personal responsibility is hard to find today.

[brianr10]

The fix for stormwater overflows into sewers is storage. Put in tanks, build retention areas, even porous pavement to even out the flow into the sewer plant.

[desertfreedom765]

“Don’t like the terms of debt? Don’t go into debt. “

The problem is when other people go into debt in your NAME.

[FreedomPoster]

That seems more than reasonable to me, based on watching the tone of much reporting over the years.

[Misterioso]

Has anyon noticed the source of this article? Article from http://www.libertynewsonline.com USA :: Economy HOW THE BIG BANKS ARE LOOTING MAIN STREET USA 04-06-2010 6:27 am - Matt Taibbi - Rolling Stone This article is about how the nation's biggest banks are ripping off American cities with the same predatory deals that brought down Greece. The article is long but well worth reading.

[LomanBill]

"We didn't truly know the dangers of the market, because it was a dark market," says Brooksley Born, the head of an obscure federal regulatory agency -- the Commodity Futures Trading Commission [CFTC] -- who not only warned of the potential for economic meltdown in the late 1990s, but also tried to convince the country's key economic powerbrokers to take actions that could have helped avert the crisis. "They were totally opposed to it," Born says. "That puzzled me. What was it that was in this market that had to be hidden?"

http://www.pbs.org/wgbh/pages/frontline/warning/view/

[Oldexpat]

Yeah..and my rich friends keep thinking their muni bonds are good stable investments. Right.
With the too big to fail banks now bigger still fleecing them and with the unions getting their pay, health care and retirement inflated, cities are not good investments.

[GOPJ]

I’m with you. It’s like the people who want to blame credit card companies for MAKING them charge stuff they didn’t need. Gimme a break.

[dalereed]

“Yeah..and my rich friends keep thinking their muni bonds are good stable investments”

There is no way I would touch tax free Municipal Bonds in California or anywhere else.