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  LiveWire / Teen Forums / The Political Teen / Viewing Topic

Bailout? wha?
Replies: 14 — Last Post Oct. 7, 2008 8:37am by Forever Angel
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( Anonymous )

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does anyone feel like telling me, in lamens terms, what all this stuff is about with wall-street and a bailout and going into a great depression. I don't really keep myself up-to-date on current events.
10:44 pm on Oct. 6, 2008
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Lady Catastrophic


Nahh.... chillll
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Support Leader 		Reply
We borrowed money from China so people don't lose their homes...

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Gamer Tag: BLANK1TA
10:45 pm on Oct. 6, 2008 | Joined: Feb. 2006 | Days Active: 589
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Baron Samedi


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You know how magicians want you to focus on one hand so you don't pay attention to what they're doing with the other?

Same concept.

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10:45 pm on Oct. 6, 2008 | Joined: Mar. 2008 | Days Active: 440
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matthewww333

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that would take so much time....

go watch the news
=]

if so fox cuz msnbc and cnn are both not talking about the bailout right now... but yea


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10:46 pm on Oct. 6, 2008 | Joined: July 2008 | Days Active: 26
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roflfuckyou



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the banks lend to people who can't pay back and so they're in debt and now the government is paying 800 billion to give to the banks to get them out of debt

it's actually really stupid and bailing the banks out will do nothing good
and if they didn't bail them out then that would be bad too

10:46 pm on Oct. 6, 2008 | Joined: June 2008 | Days Active: 447
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Forever Angel


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A quick summary... the Democrats fucked up now America (and the civilized world) will be paying the bill.

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"God does not play dice" - Albert Einstein
"God does play dice" - Stephen Hawking

Bohica
10:46 pm on Oct. 6, 2008 | Joined: Dec. 2005 | Days Active: 1,337
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OverTheAir


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Google baby.

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switchfoot52

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read about the depression of the 1930/1940's and u'll understand

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Lady Catastrophic


Nahh.... chillll
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Quote: from Forever Angel at 11:46 pm on Oct. 6, 2008
A quick summary... the Democrats fucked up now America (and the civilized world) will be paying the bill.

Both Democrats and Republicans fucked up.

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Savior


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Well it all started with a guy called Reagen..
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stl man


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the american government was bullshit from the start

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10:48 pm on Oct. 6, 2008 | Joined: Sep. 2008 | Days Active: 146
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( Anonymous )

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Quote: from roflfuckyou at 12:46 am on Oct. 7, 2008
the banks lend to people who can't pay back and so they're in debt and now the government is paying 800 billion to give to the banks to get them out of debt

it's actually really stupid and bailing the banks out will do nothing good
and if they didn't bail them out then that would be bad too

so why did they decide that at $800 billion, maybe it was time to ask the government for money? I mean, don't ya think at like... $200 billion, maybe they should have said "hmm, we probably shouldn't give out any more loans"

10:53 pm on Oct. 6, 2008
Savior


Wealthy Hobo 		Reply
Ok you don't get it so I'll explain.

People wanted banks to give them loans that they couldn't afford.

Banks tell them "It's cool, bro. Housing prices are going up so we'll lend you the money with low interest up front then in a few years the house you buy with it will be worth more so you can sell it, pay off the loan and everyone's happy".

This part's important. The banks then sold these debts to OTHER PEOPLE up front while misrepresenting how risky they were.

That worked for a while until the housing market collapsed and people were left with loans they couldn't pay off and the system was left with a bunch of bad debt.

And because the debts were sold to third parties it's impossible to sort of which debts are good and which aren't which shakes confidence in the whole system.

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roflfuckyou



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Quote: from Anonymous at 3:53 pm on Oct. 7, 2008
Quote: from roflfuckyou at 12:46 am on Oct. 7, 2008
the banks lend to people who can't pay back and so they're in debt and now the government is paying 800 billion to give to the banks to get them out of debt  

 it's actually really stupid and bailing the banks out will do nothing good  
 and if they didn't bail them out then that would be bad too

so why did they decide that at $800 billion, maybe it was time to ask the government for money? I mean, don't ya think at like... $200 billion, maybe they should have said "hmm, we probably shouldn't give out any more loans"

no the government decided 800 billion, it's actually around 10 trillion their in debt but the government would only give 800 billion. a lot isn't their fault, like it costs something around 10 million a week for the war in iraq and its banks jobs to lend money, thats why theyre there

4:58 am on Oct. 7, 2008 | Joined: June 2008 | Days Active: 447
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Forever Angel


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Quote: from xsharpi at 12:47 am on Oct. 7, 2008
Quote: from Forever Angel at 11:46 pm on Oct. 6, 2008
A quick summary... the Democrats fucked up now America (and the civilized world) will be paying the bill.

Both Democrats and Republicans fucked up.

FDR (a Democrat) created Fannie Mae. LBJ (a Democrat) privatized it. A Democratic Congress created Freddie Mac. And Clinton (a Democrat) set up the circumstances for the dominoes to fall. And now they have.

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"God does not play dice" - Albert Einstein
"God does play dice" - Stephen Hawking

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8:37 am on Oct. 7, 2008 | Joined: Dec. 2005 | Days Active: 1,337
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