futureage1

If Obama would demand some regulation so that the taxpayer could see that there was some benefit to them to help these banks survive, I don't think there would be this much anger. For example, the credit card interest rates these banks continue to charge are going to cause yet another financial disaster. At the very least, they should cap these interest rates to 12%, require a grace period before late charges are assessed, and allow the interest to be deducted from your taxes. This would go a long way to helping the consumer get their debt under control and see some light at the end of the t

http://www.dailykos.com/storyonly/2009/3/5...1152/953/704855 "A bankruptcy judge could have carved AIG up into chunks with sound components separated from unsound ones. Other companies would buy assets that had value. Shareholders would likely have emerged in better shape than they have after AIG's stock price fell from over $70 to 43 cents in a two-year period. "Suppose AIG goes bankrupt, it is better that AIG goes bankrupt and we have a horrible two or three years than that the whole US goes bankrupt," legendary investor Jim Rogers, who co-founded the Quantum Fund with George Soros,

Larry Summers, Sunday, on AIG

TARP Oversight Panel Says It's Been Ignored By Geithner And Paulson- http://www.nationaljournal.com/congressdai...090311_7050.php "The Congressional Oversight Panel, the group charged with overseeing how the federal government allocates $700 billion to prop up the nation's financial institutions, supports greater public disclosure of how the program is working, but the panel itself often can't get the information it needs to do its job, members said today." If that Oversight Committee had the information that Geithner is intentionally hiding, they would panic. That information woul

Wow I have not checked out this thread for awhile and it seems to just keep going and going. This is what happens when a 100 million dollar company pays one man a quarter of the company's worth. 1 in 50 American Children are homeless. http://www.homelesschildrenamerica.org/ This is real world stats not college room debate. I know these are not the type of stats the talking heads on tv like to think about, but there are real consequences other than market reactions to paying people that kind of money.They are now running, as of this week, news stories on tent cities so all the theories of

It is very simple. If a CEO finds a multi million dollar contract from a public owned co. unacceptable then he should feel free to shop his services elsewhere. If no co. is able or willing to meet his demands in this country then he should test the free market system and offer his services in other countries instead of bitching about the lack of compensation in this country. My guess is most other countries would laugh these guys out the door with some of their salary demands and perks.

You sure are.

Let them follow their free market principles and seek over the top and unjustified compensation in other countries. They have effectively run this country into the ground and we can not afford their salaries or their "superior" business sense anymore. If they own the company then they can pay themselves anything they want. If they simply run the company then more realistic and justified salaries are in order. I'm tired of watching people starve so some guy can buy a gold plated toilet. There is some serious brainwashing in this country. We are at the greatest wage disparity since the great dep

Matt Z- All the banks you named took bailout funds and are all hovering around the $1-$5/share range. They should be nationalized for the sake of the country. The value of 10% off the S&P has already started to happen, there is not much further it would fall. Yes, the entire banking system should be nationalized incrementally. But throwing vast sums of debt at these same banks every few months is really not working and will cost this nation in untold ways. Simply put it is not worth it. And I have to say you have been all over the map with your arguments. Stating how any tax increase on

What is better the whole country goes broke or the shareholders take it on the chin? Because that is where we are at. We have spent close to 2 trillion dollars already with no end in sight. You act like the senate and congress will run the banks, they won't. But the people they do get to run them will be well qualified and responsible to the American people not a board of about 12 major shareholders. So we keep letting Citi stock go in the toilet bringing down the entire market just so we can say our banks are privatized? Right that is working great. You obviously don't understand economics an

Obama and the System The Economy and the Big Picture By FELICE PACE http://www.counterpunch.com/pace02272009.html

A Bank Bailout That Works - http://www.thenation.com/doc/20090323/stiglitz The Big Dither- By PAUL KRUGMAN http://www.nytimes.com/2009/03/06/opinion/06krugman.html

Right the shareholders are wiped out. That is a FAIR and FREE market. The shareholders deserve to pay the consequences for bad business decisions, not the tax payer. It really is black and white and that simple, but for some reason you seem to put your trust in the same people who got us here. Believe whatever you have to but these guys should be in jail and Sweden is the exact model we should be following for recovery.

Nationalize the banks today and the bailouts would stop. Ask yourself whose benefit it really is that they are not nationalized? Is it the people or the banks? They have no right to expect tax money and offer no benefits for that except business as usual. We are being ripped off and Obama will not stand up to it period. These guys should be in jail not getting manicures on our dime.

I think you may have too much faith in the stimulus and our leadership. Personally, I am now getting really nervous. The housing bill introduced yesterday is a joke and won't help half the homes in foreclosure, yet we come up with billions for AIG, GM etc, with no end in sight. It is also a voluntary program that these banks don't even have to participate in and knock down people's principles on their loans. Obama should have put a freeze on all foreclosures until the banks have been set right. But since lobbyist's own our Gov., all we get is lobbyist written bills now that help nobody. Obama

A lot of articles popping up about bank nationalization today. This is the first one I have seen written by an actual economist. Greenspan also advocated bank nationalization recently. So maybe when we see a op ed in the WSJ by him it will happen. In the meantime here is this article. http://www.alternet.org/workplace/129700/b...ationalization/

Returning the money creation/distribution to control by the US Treasury is a necessary step in righting our financial ship. Jackson did it in the 1800's (kicked private central bankers like the FED out of the country), and still remains the only President to retire the entire US national debt. Are we slow learners, or just too stupid & ill-informed to recognize the FED as the source of our problems rather than problem solvers?