Mgpeagle

iTrader: (6)

Listen Dude, I posted out of frustration; not to get in a pissing match with you. Yeah, bad assets THEY let happen. Just like you think GM made thier own bed. Hmmm, gee let me give someone a 500,000 dollar loan that makes 30,000 a year. Stupid *****... They have given the perps rewards for thier stupidity instead of giving it to where it should have went.... The PEOPLE! I mean the last bailout some of the money went for Homland Security for furniture for thier new offices. It was in the sum of 248 million dollars. What's it made of?

I do have a problem getting less of my taxes back in my tax check by the govt. giving me more money now. I'd rather have the hundreds all at once (more mods.... : ). Sorry, but that's just me.

I know so many people that have been laid off it isn't funny. Some even frequent this board. The other day I am driving in the city and see tents under bridges. Sorry, this isn't the America I used to know. The bank bailouts' were nothing but a dilusion and a diversion. You'll see.... Ever wonder why our monies aren't backed by gold anymore?

I am very happy that you made some money by dumping some into stocks but most of us can't afford to do that; especially right now. Sorry to rant but I can't help it. I also feel some of that money should go to GM since much of it went to the wealthiest banks on earth through "middlemen".... What a complete joke....

-Mike

Panther427

I got laid off. The banks dug themselve into there own holes too. The sold bad loans, ARMS, and invested in stupid stuff. GM was making products people wanted. They were getting better in quality and stuff we watned. I dont see how its completely GM's falut that everything else collapsed. GM could still sell cars. If people had jobs and banks would lend. But the banks are the ones who F-d us over. That pisses me off. then they get there bailout money and they seem to be just pissing it away.

Mgpeagle

iTrader: (6)

Amen Panther! I totally agree!

-Mike

20SS07

I'm not tryin to get in a pissing match with anyone either. Just saying. Not saying banks are innocent either. But that's just how everything was pushed. The government wanted everyone to be able to afford homes. So the banks complied and gave out loans, to people who couldn't afford them. It's the peoples fault too. They got themselves into all these variable rate mortages that went through the roof. Sure they shouldn't have ever gotten them to begin with, but you can't live life saying "oh well its not my fault they should have never gave the loan to me in the first place. I mean that's a BS argument. As much as the banks aren't free and clear, the people shouldn't have lived beyond their means either just because they could. All those people are just as much to blame. This problem went back years. As far as stocks. I don't have alot of money either. Only dropped a couple thousand. And while we would all like to have nice stimulus checks all the time, you can't expect that. You're lucky you got one last year. And as I said, you don't like the extra few bucks in your pay, don't take it. My employer sent out an email outlining the whole thing and how some families may not benefit from taking it since the extra cash in your pay can only equal so much.

As for GM, sure, everyone wanted SUV's who had no need for him and they had too many of these vehicles in their lineup. But, like it or not, they WERE greatly mismanaged. Look at Ford. Are you telling me Ford is in good shape because they DIDN'T make vehicles people wanted? People were all truck and SUV happy, well look at the F150, that was the top selling vehicle in America for how long?

I mean, sorry if I got got under your skin, my point is just that whether you like it or not, the banks have to rebound. If you don't like that, you might as well prepare for unemployment too. I mean I'm an accountant for my company, without our line of credit from the bank(Wells Fargo actually), we'd have NO company. Does that mean we're mismanaged? No. Alot of companies need running lines of credit to keep things moving along. That's why these banks need to be able to get back to normal lending, that's the life line for so many companies. The banks will be the backbone for any kind of recovery along with getting this housing market stabilized. Again, not trying to get in a pissing match either I fully understand people have strong views and know people who are affected. It's stressful for all of us. I've watched our sales steadily drop over the past several months and wonder if my job was in trouble.

Mgpeagle

iTrader: (6)

I am sorry if I cam across pissed. I just can't believe what this country is coming to.

I do agree that the banks have to rebound but they wouldn't be in this position if they weren't so damned greedy. Also, they can do it in a law abiding way which they do not. If that were the average Joe we'd be in prison... That money should have went to the people not to bail out everything else. This is nothing more than a spending spree by big government. Just my opinion. Hope I didn't offend you.

-Mike

20SS07

Nope you didn't offend me. I'm always up for debating things in a respectful manner. I'm sure we can all agree that hopefully this clusterfuck of a mess we're in can start to turn around. What was this thread originally about again? haha

madmike9396

iTrader: (29)

Mgpeagle

iTrader: (6)

And those were the days of our lives. lol.....

-Mike

texasGXP08

All I know is our GXP resale values are going to go down the toilet.