wall street bailout

[Flamingo]

Biden was initially against the reform until MBNA, the biggest advocate for BK reform, pressured him into accepting it. MBNA owned Delaware.

There are many factors creating this mess, but if you have to point to the one person responsible for it, Greenspan is your man.

Also, redlining is against the law. But, it seems that reverse redlining was perfectly acceptable.

Delaware woos corporations - it is the best state for any bank or financial institute to be incorporated and headquartered for tax purposes; hence the state bends over backwards to keep corporations and banks in the state. Therefore, any politician from that state works to keep the business there; any state and their politicians would.

[banca rotta]

Delaware woos corporations - it is the best state for any bank or financial institute to be incorporated and headquartered for tax purposes; hence the state bends over backwards to keep corporations and banks in the state. Therefore, any politician from that state works to keep the business there; any state and their politicians would.

They also have higher interest rates that they are exporting across state lines just like s. dakota. It's on the secret history of the cc link on this forum. Watch it if you find the time.

All I can say about the bailout is if you want to make some money off of it start buying euros. The dollar will lose value for sure and everyone knows it.

As for the politicians while I think they are all morons this problem was mostly caused by greedy bankers and brokers mixed with home buyers that can't do math. On behalf of the taxpayers of this great nation I say thank you.

[justbroke]

I'm going to do some more math, and probably make some people mad.

First, why are the news cameras asking people who work at McDonald's restaurants -- excluding McDonald's Corporate -- what they think about the "bail out"? Why not first ask them what they paid in taxes the prior year, prior to asking them what they think about a taxpayer bail out. (Notice I used the word "taxpayer" in front of "bail out".)

Let's do some math, shall we.

The top 50% of taxpayers pay 97.1% of all the federal taxes. The top 50% would be taxpayers earning more than $58,000 a year (approximately). If you don't make that... then a comment on this "bail out" is meaningless.

Now let's look at the top 50%. They will shelter 97.1% of the bailout. That would be 50% of 200,000,000 (or 100,000,000) people paying 97.1% of $700B. That comes out to $6,797.00 each.

Now if you look at the bottom 50% of the taxpayers (earning less than $58,000 a year (approximately), their "burden" is $203.00 each.

Furthermore, if you break down the top 50% into what it really is... the top 20% of Americans pay 70% of all taxes. The top 20% earn more than $85,200 a year (approximately). That puts it into perspective.

if we just gave the money "to the American people". then this is how it would work out.

Top 20% (> $85K/year)

$12,250.00

Next 30% (> $58K/year)

$3,161.00

Bottom 50% (< $58K/year)

$203.00

People need to wake up. This $700B is nothing compared to the problem with the entitlement programs which is coming soon. Every politician knows that they have to fix this problem, or the entitlement problem will be here in 2011 instead of 2035.

No senator, congressperson, mayor, governor, or community organizer wants to say... you asked for no bail out... now you have a.) reduced or no social security, b.) reduced or no Medicare, b.) reduced or no Medicaid, c.) reduced or no unemployment.

It's a catch 22. That's just my opinion. Been just sitting here wondering what I would do in this situation. I certainly don't want to throw good money at Bad Money.

But wait and see. Congress is GOING to APPROVE a $250B deal with MORE MONEY to come in the FUTURE. They have no choice. This is the proverbial gun to the head.

[fltoo]

Delaware woos corporations - it is the best state for any bank or financial institute to be incorporated and headquartered for tax purposes; hence the state bends over backwards to keep corporations and banks in the state. Therefore, any politician from that state works to keep the business there; any state and their politicians would.

True for all corporations, but, not necessarily banks and financial institutions. The reason why the cc companies flocked there in the 1980s was DE has no usury.

[fltoo]

They also have higher interest rates that they are exporting across state lines just like s. dakota. It's on the secret history of the cc link on this forum. Watch it if you find the time.

All I can say about the bailout is if you want to make some money off of it start buying euros. The dollar will lose value for sure and everyone knows it.

As for the politicians while I think they are all morons this problem was mostly caused by greedy bankers and brokers mixed with home buyers that can't do math. On behalf of the taxpayers of this great nation I say thank you.

You might have something here. The forex market is growing in leaps and bounds worldwide.