President Obama forces GM boss Rick Wagoner to step down

Discussion in 'Free Speech Alley' started by Rex_B, Mar 29, 2009.

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  1. red55

    red55 curmudgeon Staff Member

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    This has been explained to you several times. The mortgage collapse wasn't caused by spending, but by poor risk management and incompetent regulation. The crisis right now is that money isn't flowing. Spending makes it flow.
     
    red55, Mar 30, 2009
    #11
  2. red55

    red55 curmudgeon Staff Member

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    OK, then the unions are self-serving, as are the executives. BOTH must make major concessions to save the industry.
     
    red55, Mar 30, 2009
    #12
  3. SabanFan

    SabanFan The voice of reason

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    You are shocked at my open mindedness? :D
     
    SabanFan, Mar 30, 2009
    #13
  4. SabanFan

    SabanFan The voice of reason

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    Umm...Duh!
     
    SabanFan, Mar 30, 2009
    #14
  5. Rex_B

    Rex_B Geaux Time

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    And it has been explained to you that I don't agree with you.

    The mortgage collapse happened b/c people spent to much. Too much on homes, too much on refi and taking the extra money out to make other purchases, etc. etc. etc. A bubble that burst.

    Just because you believe something, doesn't make it true.
     
    Rex_B, Mar 30, 2009
    #15
  6. red55

    red55 curmudgeon Staff Member

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    No, it's because people loaned too much. Overspending by home buyers only resulted in them losing their homes (unloading their asset). Overloaning by banks caused the mortgage and credit meltdowns. It created toxic assets that they couldn't unload.

    Nor does such a belief make it false. Whatever is your point?
     
    red55, Mar 30, 2009
    #16
  7. Rex_B

    Rex_B Geaux Time

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    Yes, it's because people spent too much. Overspending by home buyers resulted in them losing their homes and declining the value of other people's homes.

    And yes b/c of the overloaning.

    It takes 2 to tango.

    My point is that you are not correct IMO so don't assume you are. We are in this crisis because of spending. And spending won't get us out.
     
    Rex_B, Mar 30, 2009
    #17
  8. Frogleg

    Frogleg Registered Best

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    So if I were to bash the Chinese Government, I would in effect be bashing working class folk?
     
    Frogleg, Mar 30, 2009
    #18
  9. red55

    red55 curmudgeon Staff Member

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    Do you realize how ridiculous that sounds? :grin:

    OK then, what will get us out of this economic crisis? This I've got to hear . . .
     
    red55, Mar 30, 2009
    #19
  10. SabanFan

    SabanFan The voice of reason

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    We need a good, old fashioned, Americans are pissed off and somebody's got to pay, war. :thumb:
     
    SabanFan, Mar 30, 2009
    #20
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