# The Bailout Was A Bank Robbery



## sealybobo (Nov 29, 2015)

There is a movie coming out in November called the Big Short. Sounds like it's a movie about how the bankers basically pulled the largest bank robbery in world history. From the preview I just saw it looks like the movie is about how they did it. Tarp, too big to fail, it was all so obvious to me. I'm hoping this movie vindicates those who believe the rich and powerful have become too dangerous for democracy.


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## Moonglow (Nov 29, 2015)

sealybobo said:


> There is a movie coming out in November called the Big Short. Sounds like it's a movie about how the bankers basically pulled the largest bank robbery in world history. From the preview I just saw it looks like the movie is about how they did it. Tarp, too big to fail, it was all so obvious to me. I'm hoping this movie vindicates those who believe the rich and powerful have become too dangerous for democracy.


Pretty sad when mega rich bastards had to be helped while the rest of those that pay those taxes got the shaft...


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## sealybobo (Nov 29, 2015)

Moonglow said:


> sealybobo said:
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> > There is a movie coming out in November called the Big Short. Sounds like it's a movie about how the bankers basically pulled the largest bank robbery in world history. From the preview I just saw it looks like the movie is about how they did it. Tarp, too big to fail, it was all so obvious to me. I'm hoping this movie vindicates those who believe the rich and powerful have become too dangerous for democracy.
> ...


And the American people did nothing. I think they know that by also controlling the media they control the message. People will see this movie and nothing will happen. 

The too big to fail never lose. They are even gobbling up real estate. My brother is rich and he and all the other rich guys he knows have all this extra cash they are sitting on so they get to buy property cheap. His $100k property will be $1million when he puts a $200 home on it.


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## Dont Taz Me Bro (Nov 29, 2015)

But Obama said we had to.  It was the only way.


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## Moonglow (Nov 29, 2015)

Dont Taz Me Bro said:


> But Obama said we had to.  It was the only way.


TARP was passed during Boosh...


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## sealybobo (Nov 29, 2015)

Dont Taz Me Bro said:


> But Obama said we had to.  It was the only way.


We did have to. That's what tellers are told to do when being robbed. Give them the money. Especially when the robbers are the bank owners. Especially if they own both parties.

Maybe we should do something about it? I know, let's pass citizens united and let 6 companies control 90% of all the media.


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## Old Yeller (Nov 29, 2015)

I thought they paid back TARP loans with interest?  That does not make it great but a bit better?


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## Moonglow (Nov 29, 2015)

num_nut said:


> I thought they paid back TARP loans with interest?  That does not make it great but a bit better?


I lost my business cause there was no TARP for me...


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## Old Yeller (Nov 29, 2015)

sealybobo said:


> Maybe we should do something about it?




I thought BHO was going to do something about it?  somebody to jail?  Of course the politicians would be the first to lock up......his buddies.


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## sealybobo (Nov 29, 2015)

Moonglow said:


> Dont Taz Me Bro said:
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> > But Obama said we had to.  It was the only way.
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And at least Obama Elizabeth Warren and Bernie Sanders looked out for home owners, a little. Bush said give the bank robbers what they want no questions asked. He most likely was in on it.


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## Dont Taz Me Bro (Nov 29, 2015)

Moonglow said:


> Dont Taz Me Bro said:
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> > But Obama said we had to.  It was the only way.
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You think I don't know that?  Obama and McCain were running for president at the time and wholeheartedly stood behind and voted for the legislation.  It's one of the main reasons I didn't vote for either one of them and went third party instead.


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## SAYIT (Nov 29, 2015)

num_nut said:


> I thought they paid back TARP loans with interest?  That does not make it great but a bit better?



Silence!
You have no right injecting facts when whiny loony leftists are enjoying a crying jag!


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## sealybobo (Nov 29, 2015)

num_nut said:


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Actually bank of america was found guilty if I'm not mistaken. But did moonglow get anything? I didn't.


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## Old Yeller (Nov 29, 2015)

Moonglow said:


> I lost my business cause there was no TARP for me...



I know.  so many got damaged.  Many had to empty 401K to pay for house sinking in value, looking for any job for 3 years or more depending on where they were.   Many gave up if 55 or more.


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## Moonglow (Nov 29, 2015)

sealybobo said:


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Along with Congress.....


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## Moonglow (Nov 29, 2015)

num_nut said:


> Moonglow said:
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I was ready for the crash....I learned the hard way in the recessions of the 1980's and early 1990's....I lost no value in my real estate holdings...


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## Moonglow (Nov 29, 2015)

The real reason I lost my company was the invasion of cheapo labor during Boosh...


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## sealybobo (Nov 29, 2015)

SAYIT said:


> num_nut said:
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Before bushanomics we had 25% of the $ and the rich had 75%, and things worked. Now the rich have 90% and retarded right wing ers want to blame Obama or even Clinton just because he signed NAFTA.

If Republicans would just realize there party will never get er done.


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## Old Yeller (Nov 29, 2015)

wait a minute?  I never heard of Pochonhantas till way after?


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## Lumpy 1 (Nov 29, 2015)

Moonglow said:


> Dont Taz Me Bro said:
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> > But Obama said we had to.  It was the only way.
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With a Democratic Party controlled Congress that also promoted the stupid idea that the housing bubble didn't exist over the repeated warnings by Bush and others that it did. Hell, who didn't know the bubble was about to burst except Democratic Party leadership, the ones responsible for oversight? The Democrats exposed themselves as the bastards bought and paid for by the wealthy.


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## Toddsterpatriot (Nov 29, 2015)

sealybobo said:


> There is a movie coming out in November called the Big Short. Sounds like it's a movie about how the bankers basically pulled the largest bank robbery in world history. From the preview I just saw it looks like the movie is about how they did it. Tarp, too big to fail, it was all so obvious to me. I'm hoping this movie vindicates those who believe the rich and powerful have become too dangerous for democracy.



*The Bailout Was A Bank Robbery
*
Only bank robbery in history where the money was repaid and the US Treasury made tens of billions.


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## Manonthestreet (Nov 29, 2015)

Moonglow said:


> sealybobo said:
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> > There is a movie coming out in November called the Big Short. Sounds like it's a movie about how the bankers basically pulled the largest bank robbery in world history. From the preview I just saw it looks like the movie is about how they did it. Tarp, too big to fail, it was all so obvious to me. I'm hoping this movie vindicates those who believe the rich and powerful have become too dangerous for democracy.
> ...


Teabaggers tried to stop it and you hated them for it


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## Manonthestreet (Nov 29, 2015)

BTW they dont have to go to Congress next time since Congress passed a bail in they can just take your money..........have a nice day


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## sealybobo (Nov 29, 2015)

Toddsterpatriot said:


> sealybobo said:
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> > There is a movie coming out in November called the Big Short. Sounds like it's a movie about how the bankers basically pulled the largest bank robbery in world history. From the preview I just saw it looks like the movie is about how they did it. Tarp, too big to fail, it was all so obvious to me. I'm hoping this movie vindicates those who believe the rich and powerful have become too dangerous for democracy.
> ...


Yet somehow the rich got richer. Buy low and sell high.

Do you remember how many Americans lost their homes? Who bought their homes?

And what did the rich do when the stock market tanked? They bought more stock!


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## sealybobo (Nov 29, 2015)

Manonthestreet said:


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Like libertarians they say 3 or 4 good things but the rest is unacceptable


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## Manonthestreet (Nov 29, 2015)

sealybobo said:


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riiggghttttttt....on one of the biggest issues of your lifetime you opposed them and now whine......I have no sympathy for people like you who cant tell the forest from the trees


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## sealybobo (Nov 29, 2015)

Manonthestreet said:


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Maybe if the tea party or libertarians weren't just as horrible if not worse than the GOP.


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## Toddsterpatriot (Nov 29, 2015)

sealybobo said:


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*Yet somehow the rich got richer.
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Yup. The "robbers" paid back the bailout, with tens of billions in profit to the US Treasury that they "robbed" and the rich got richer.

Thanks Obama!!


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## Manonthestreet (Nov 29, 2015)

sealybobo said:


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Maybe if you could distinguish between what is important....and what is tertiary.......run into people all the time who claim to be social libs and fiscal conservatives who vote for libs because of social issues,,,,when I ask when they plan to vote on fiscal issues because time is running out ......they have no answer.......so take your medicine and quit whining


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## sealybobo (Nov 29, 2015)

Manonthestreet said:


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I'm a worker. I believe the workers should share some of the profits. The Walton's do not.


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## Manonthestreet (Nov 29, 2015)

The Waltons arent the economy or the bankers


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## Lumpy 1 (Nov 29, 2015)

sealybobo said:


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As a worker you get employment, benefits and the opportunity to do a great job and advance, if you're a lazy ass you don't. Why would I as a businessman pay $15.00 bucks an hour for some lazy ass that's practically worthless?


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## Old Yeller (Nov 29, 2015)

Most of workers I see at the Super WalMart and little Walmart seem happy and busy.


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## MisterBeale (Nov 29, 2015)

Moonglow said:


> Dont Taz Me Bro said:
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Like it really freakin' mattered.

TARP was passed by the FED.  They threatened and blackmailed all the elected pols in D.C. with utter ruin if they didn't do it.


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## sealybobo (Nov 29, 2015)

Toddsterpatriot said:


> sealybobo said:
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> > There is a movie coming out in November called the Big Short. Sounds like it's a movie about how the bankers basically pulled the largest bank robbery in world history. From the preview I just saw it looks like the movie is about how they did it. Tarp, too big to fail, it was all so obvious to me. I'm hoping this movie vindicates those who believe the rich and powerful have become too dangerous for democracy.
> ...


 I think if you look closer you'll see they only paid back fifty cents on the dollar or something like that.

So you gonna watch the movie?


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## Moonglow (Nov 29, 2015)

Manonthestreet said:


> The Waltons arent the economy or the bankers


They do have a deep vested interest in the economy of NW Ark..And they do run their bank Arvest.. Which does influence the economy here...


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## Moonglow (Nov 29, 2015)

num_nut said:


> Most of workers I see at the Super WalMart and little Walmart seem happy and busy.


Evidently you have never worked at a Wal Mart store..I worked for a warehouse in Bentonville in 1986 after getting out of the Army..The Army treated me better than Wal-Mart..They lie, cheat  and abuse their employees...My ex worked at the store level since 2009, they treated her the same...It also depends on the management of the store how people are treated and usually, it's a cut throat operation...


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## Manonthestreet (Nov 29, 2015)

Moonglow said:


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And did they get a bailout? and is your economy better or worse .......


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## Manonthestreet (Nov 29, 2015)

Daughter works for Walmart...her main complaint is they still cant  get her schedule right 6 monthes in....starting to wear on her. other than that she's happy as hell


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## Moonglow (Nov 29, 2015)

Manonthestreet said:


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Nope, the Walton business foundation has very, deep pockets...The economy in NW Ark is robust right now...I have no problem finding work as I will do whatever it takes to survive...


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## Toddsterpatriot (Nov 29, 2015)

sealybobo said:


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*
I think if you look closer you'll see they only paid back fifty cents on the dollar or something like that.
*
Just the 6 largest bank TARP borrowers, B of A, Citigroup, JPMorgan Chase, Wells Fargo, Goldman and Morgan Stanley, borrowed $160 billion and paid back about $185 billion.

Your fifty cents claim is crap.

http://projects.propublica.org/bailout/list
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So you gonna watch the movie?
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Only so I can point out the errors.


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## SAYIT (Nov 29, 2015)

sealybobo said:


> Maybe if the tea party or libertarians weren't just as horrible if not worse than the GOP.






sealybobo said:


> I'm a worker. I believe the workers should share some of the profits. The Walton's do not.



Yanno, you say so many stupid things I never quite know where to start but here's a tip:

As a self-described "worker" you have the right to negotiate the terms of your "worker" compensation. 

If you were to invest in the company for which you work (or any company for that matter) you could share in the profits (and losses) but remember, virtually all investments run the risk of losses.

Frankly, I don't believe for one minute you have what it takes to be an investor - cajones - so you probably are better off just being a "worker."


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## SAYIT (Nov 29, 2015)

MisterBeale said:


> Like it really freakin' mattered. TARP was passed by the FED.  They threatened and blackmailed all the elected pols in D.C. with utter ruin if they didn't do it.



Surly one such as you would not stoop to Paulette's level and post that accusation without credible substantiation.

Curiously you failed to post it.


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## MisterBeale (Nov 29, 2015)

SAYIT said:


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Jeeese. . . I thought that was common knowledge.  Sorry.  I would have to look a while.  Why not look it up yourself if you are so interested?


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## SAYIT (Nov 29, 2015)

Toddsterpatriot said:


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This exchange once again illustrates the diff between low-info loony libs (BooBoo) whose "knowledge" is based on what he thinks he may have heard somewhere (or "something like that") and a rational person (ToddsterP) who clearly understands that facts inform the best conclusions. 

Although now armed with the hard facts that trump his loony left assumptions, BooBoo will nonetheless continue to believe and espouse the baseless silliness that so regularly oozes from his keyboard.


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## MisterBeale (Nov 29, 2015)

Here, I hate to leave you hanging.



SAYIT said:


> MisterBeale said:
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> > Like it really freakin' mattered. TARP was passed by the FED.  They threatened and blackmailed all the elected pols in D.C. with utter ruin if they didn't do it.





SAYIT said:


> Surly one such as you would not stoop to Paulette's level and post that accusation without credible substantiation.
> 
> Curiously you failed to post it.




*Secrets and Lies of the Bailout*
Secrets and Lies of the Bailout | Rolling Stone
THEY LIED TO PASS THE BAILOUT

Today what few remember about the bailouts is that we had to approve them. It wasn't like Paulson could just go out and unilaterally commit trillions of public dollars to rescue Goldman Sachs and Citigroup from their own stupidity and bad management (although the government ended up doing just that, later on). Much as with a declaration of war, a similarly extreme and expensive commitment of public resources, Paulson needed at least a film of congressional approval. And much like the Iraq War resolution, which was only secured after George W. Bush ludicrously warned that Saddam was planning to send drones to spray poison over New York City, the bailouts were pushed through Congress with a series of threats and promises that ranged from the merely ridiculous to the outright deceptive. At one meeting to discuss the original bailout bill – at 11 a.m. on September 18th, 2008 – Paulson actually told members of Congress that $5.5 trillion in wealth would disappear by 2 p.m. that day unless the government took immediate action, and that the world economy would collapse "within 24 hours."

*CONGRESS THREATENED WITH MARTIAL LAW IF BAILOUT BILL DOESN'T PASS*
*

Embedded media from this media site is no longer available

*A California congressman opposed to the Bush administration’s bailout package said “the sky did not fall” after the House rejected the bill, despite consternations from “Wall Street fear mongers.”

Rep. Brad Sherman (D) didn’t call Treasury Secretary Hank Paulson a Chicken Little outright, but he did say the dire consequences Paulson and others warned about didn’t happen after the House rejected the bailout Monday.

“They claimed the market would drop by 2,000 points if we failed to do so quickly,” Sherman wrote in a letter to colleagues on Wednesday that criticized the authors of the bill. “The bailout bill’s prospects are still uncertain. Yet at its close yesterday the Dow stood at 10,850, down just 1.5 percent from Thursday’s close.”

He also said the drop in the stock market after the bill’s failure Monday has been exaggerated. Though the 777-point fall was the largest point drop in the history of the Dow Jones index, Sherman said that percentage-wise, it was the 17th largest daily drop.

Sherman has become a leader of opponents to the bailout after he put out an impromptu call for skeptics of the bill to meet in a Rayburn meeting room. The members who showed up are now referred to by some as the “Skeptics Caucus.”

Sherman was among 95 Democrats who voted no on the $700 billion package, which failed 205-228. The Senate is to vote tonight on a package that now includes a “patch” for the alternative minimum tax and extensions of popular tax credits.


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## Indeependent (Nov 29, 2015)

What amazes me is that the very same financial entities that took part in the crash somehow managed to make money after the crash without having to make bad loans.


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## SAYIT (Nov 29, 2015)

MisterBeale said:


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I didn't make the silly accusation ... _you did_, but I'll take your punt to mean you have none and were just expressing your typically baseless conspiracy-theory-of-the-day.

In case you are confused, here is the charge you made against the FED:

"They threatened and blackmailed all the elected pols in D.C. with utter ruin if they didn't do it"


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## MisterBeale (Nov 29, 2015)

SAYIT said:


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Answered in post #46


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## SAYIT (Nov 29, 2015)

MisterBeale said:


> Here, I hate to leave you hanging.
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Sorry, but you really are desperate. 

That Rolling Stones piece offers no proof that "TARP was passed by the FED.  They threatened and blackmailed all the elected pols in D.C. with utter ruin if they didn't do it."

I often get the impression you are as stupid as you are desperate. Tonight is just another chapter in your history.


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## Toddsterpatriot (Nov 29, 2015)

MisterBeale said:


> Here, I hate to leave you hanging.
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Do you have a serious source? Because Rolling Stone ain't it.
*
They threatened and blackmailed all the elected pols in D.C. with utter ruin if they didn't do it.*

You need to look up the definition of blackmail.
As far as utter ruin, that was a real possibility if the banking system collapsed.


*“They claimed the market would drop by 2,000 points if we failed to do so quickly,”* 

They didn't threaten to cause it to go down 2,000 points, they warned it could. Huge difference.


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## MisterBeale (Nov 29, 2015)

Indeependent said:


> What amazes me is that the very same financial entities that took part in the crash somehow managed to make money after the crash without having to make bad loans.



When I was looking for that info for SAYIT, I ran across this. . . 

"Even worse, the $700 billion in TARP loans ended up being dwarfed by more than $7.7 trillion in secret emergency lending that the Fed awarded to Wall Street – loans that were only disclosed to the public after Congress forced an extraordinary one-time audit of the Federal Reserve. The extent of this "secret bailout" didn't come out until November 2011, when _Bloomberg Markets_, which went to court to win the right to publish the data, detailed how the country's biggest firms secretly received trillions in near-free money throughout the crisis.


Goldman Sachs, which had made such a big show of being reluctant about accepting $10 billion in TARP money, was quick to cash in on the secret loans being offered by the Fed. By the end of 2008, Goldman had snarfed up $34 billion in federal loans – and it was paying an interest rate of as low as just 0.01 percent for the huge cash infusion. Yet that funding was never disclosed to shareholders or taxpayers, a fact Goldman confirms. "We did not disclose the amount of our participation in the two programs you identify," says Goldman spokesman Michael Duvally.


Goldman CEO Blankfein later dismissed the importance of the loans, telling the Financial Crisis Inquiry Commission that the bank wasn't "relying on those mechanisms." But in his book, _Bailout_, Barofsky says that Paulson told him that he believed Morgan Stanley was "just days" from collapse before government intervention, while Bernanke later admitted that Goldman would have been the next to fall.


Meanwhile, at the same moment that leading banks were taking trillions in secret loans from the Fed, top officials at those firms were buying up stock in their companies, privy to insider info that was not available to the public at large. Stephen Friedman, a Goldman director who was also chairman of the New York Fed, bought more than $4 million of Goldman stock over a five-week period in December 2008 and January 2009 – years before the extent of the firm's lifeline from the Fed was made public. Citigroup CEO Vikram Pandit bought nearly $7 million in Citi stock in November 2008, just as his firm was secretly taking out $99.5 billion in Fed loans. Jamie Dimon bought more than $11 million in Chase stock in early 2009, at a time when his firm was receiving as much as $60 billion in secret Fed loans. When asked by Rolling Stone, Chase could not point to any disclosure of the bank's borrowing from the Fed until more than a year later, when Dimon wrote about it in a letter to shareholders in March 2010."
Page 4 of Secrets and Lies of the Bailout | Rolling Stone

So I guess it isn't that surprising they made lots of money, and the CEO's all got bonuses.

In fact, it looks like they may have even payed back TARP with secret loans from tax payers.  Isn't that a hoot?


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## SAYIT (Nov 29, 2015)

MisterBeale said:


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That Rolling Stone piece did not support your claim.
1) the FED was not even mentioned
2) congress rejected the bill.


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## Toddsterpatriot (Nov 29, 2015)

MisterBeale said:


> Indeependent said:
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*
In fact, it looks like they may have even payed back TARP with secret loans from tax payers.* 

Yes, it's funny that you think the Fed loans taxpayer funds.


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## MisterBeale (Nov 29, 2015)

Toddsterpatriot said:


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Fine, I withdraw the word "blackmail" if that will make you happy.  Apparently you didn't read the post carefully.  I included TWO sources.  Another source was a video and analysis from LIVELEAK, directly from the floor of congress.

One of the sources I used, right in the title of the piece, says, they threatened the nation with martial law.  So, what ever.  Watch the video if you don't believe it.  If you don't view that fear mongering as "threats," well, I guess it is all really subjective.


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## MisterBeale (Nov 29, 2015)

Toddsterpatriot said:


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I never said the FED loans tax payers anything.


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## SAYIT (Nov 29, 2015)

MisterBeale said:


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Wow. That is classic Beale stupidity. Toddster never claimed you said that.

My dad taught me not to bother arguing with idiots and, as such, I will let the Toddster have at you because you're either just too drunk (a viable excuse) or just too stupid (most likely).


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## sealybobo (Nov 30, 2015)

SAYIT said:


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Barack Obama says banks paid back all the federal bailout money

Mostly true.


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## sealybobo (Nov 30, 2015)

Toddsterpatriot said:


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Secrets and Lies of the Bailout | Rolling Stone

Here is the deal.  Overall, the GOP and the people the GOP represent made out like fucking bandits under Bushanomics.  And it isn't like we have undone everything Bush did.  You can't when the Mitch McConnell's filabust.  The bank collapse was just one piece of the puzzle to fuck the middle class and poor.  

We had 25% of the wealth, they had 75%.  Now, after the Bush Great Recession, they have 90% and us 10%.  You sir are either stupid or a liar.  I think you're dumb.


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## MisterBeale (Nov 30, 2015)

sealybobo said:


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http://www.slate.com/articles/busin...ic_about_their_hush_hush_bailout_scheme_.html


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## MisterBeale (Nov 30, 2015)

Secret Fed Loans Gave Banks $13 Billion Undisclosed to Congress


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## Toddsterpatriot (Nov 30, 2015)

MisterBeale said:


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*One of the sources I used, right in the title of the piece, says, they threatened the nation with martial law.* 

Someone else needs to learn a real definition.
*Martial Law*. The exercise of government and control by military authorities over the civilian population of a designated territory.
Last I checked, the Federal Reserve has no military and no authority over any military force.


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## Toddsterpatriot (Nov 30, 2015)

MisterBeale said:


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*In fact, it looks like they may have even payed back TARP with secret loans from tax payers.
*
Well, by all means, explain what these "secret loans" were.


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## Toddsterpatriot (Nov 30, 2015)

MisterBeale said:


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*The government and the big banks deceived the public about their $7 trillion secret loan program. They should be punished.*
By Eliot Spitzer

They should be spanked......by hookers.

Thanks. Spitzer is hilarious.


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## Avorysuds (Dec 3, 2015)

Moonglow said:


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> > There is a movie coming out in November called the Big Short. Sounds like it's a movie about how the bankers basically pulled the largest bank robbery in world history. From the preview I just saw it looks like the movie is about how they did it. Tarp, too big to fail, it was all so obvious to me. I'm hoping this movie vindicates those who believe the rich and powerful have become too dangerous for democracy.
> ...




I agree... Thanks Obama... I mean Bush if I want your support =)


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## EricWilliams (Dec 17, 2015)

The book is better than the movie...


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