Gothamist: Bloomberg on "Annoying" City Budget Cuts, Not-Bailout

blablanyc

Wed, 24 Sep 2008 20:44:31 -0500

Starrygordon - Did you read my comment above about Paulson getting will be able to hand out tax payer dollars without any oversight by any other government branch? That's where the next crisis will begin. This bill is the Patriot Act for the financial crisis. Scary. http://www.npr.org/templates/story/story.php?storyId=94985539&ft=1&f=1001

starrygordon

Wed, 24 Sep 2008 20:24:35 -0500

The present bailout proposal simply replicates the situation which caused the present crisis, only on a larger scale. That is the production of funny money, or rather funny credit. It will, therefore, lead to another crisis of the same kind but one that is broader and more severe. In effect, it's yet another swindle on a grander scale. I gather the folk are not at all happy with the proposal, because even hard-shell Republicans politicians have become dubious of it. I suggest joining the chorus and informing your Senators and your Congressperson that handing over bundles of freshly printed money to the rich for them to play with as they please is no longer acceptable.

blablanyc

Wed, 24 Sep 2008 18:03:20 -0500

First of all the amount of unchecked power the bail out bill gives to the US Treasury is unconstitutional. According the bill, Treasury secretary's decisions "non-reviewable" by Congress and can not be challenged by any court of law. This undermines the process of checks and balances amongst the three branches of government. So screw you Bloomberg if you support the bail out bill and not the Constitution.

GigiDmnd

Wed, 24 Sep 2008 17:37:58 -0500

"My dear there is much more money to be made in the destruction of civilization than in building it up." Rhettt Butler, Gone With the Wind *** Gigi www.jewssip.com

babyhitler

Wed, 24 Sep 2008 17:30:46 -0500

the "free market" also allows people to use financial liability as punishment for high risk taking and there's "nothing wrong with that". Bloomberg wants taxpayers to pay for CEO's losses? wtf

glennQNYC

Wed, 24 Sep 2008 16:44:40 -0500

Reads like financial reward as a goal is some off-beat, evil idea. :rolleyes:

bjl1960

Wed, 24 Sep 2008 16:23:03 -0500

FTA: Bloomberg doesn't think it should be called a bailout, because he believes the government will make a lot of money. if that is the case, then let those firms hold onto the paper. if that is the case, then why isn't Bloomberg himself buying some of those assets?Don't they want to make a lot of money? This whole thing reeks....

tingo

Wed, 24 Sep 2008 16:11:19 -0500

Ok...so don't call it a bailout. Let's call it an 'investment.' Well, I don't want my tax dollars to 'invest' in this scheme. The last scheme these idiots ran brought this on. Why shoudl we trust them? We should 'bail out' not them but the debts, then begin to liquidate the companies and their assets, and give parachute-less exits to the people who caused it. Period.