I'm ignorant on this...

[BjornBee]

Let me ask a question I really have no clue on.

Although I think the whole housing bailout has a lot to do with a money and power grab, could there be other things at play here?

I was just thinking...could there be a benefit to the whole mess, in some government control, (as socialist as it may be), to stop the bleeding of banks being gobbled up from foreign companies?

I think that the bleeding by wealth leaving this country is a big problem. (please withhold the comments of the war on this) Many companies are held or controlled by foreign governments or companies. And I think it would be hard for the government to use this as an excuse (need to maintain relations, right?).

But if the government stepped in as it wants to with the deals offered, would there be a slowing of business ownership to foreign ownership? I don't know enough about who owns what, the deal as offered, and the implications.

Is this a concern, a benefit, something at play?

I think this country is being destroyed by foreign investment and business takeover. And I think that is a great threat long-term. I could see some benefit if the government said (and its happening anyways) we are bailing out this or that, and through some "control" in place, will keep business and homeowners held by American "hands", thus perhaps setting the stage for further saving of the selling of everything in this country down the road. Could there be backroom discussions on matters such as this, best not seen publicly?

Comments?

[beegee]

I made a post on another board several weeks ago about the Chinese using their excess American dollars to invest in Wall Street firms and US banking interests, either directly or indirectly. The Chinese and N. Korea have control of the largest share of the USD market, China through its sales of goods to the US and Korea by its wholesale counterfeiting of US dollars.

Congress is inept and corrupt. While there may be some who go to DC with good intentions, they qucikly learn how the game is played. It's time to clean house, simplify the tax code, reduce government size, restore Constitutional power to the individual states. Term limits, line-item veto, end to pork-barrel spending and entitlements would go a long way to restoring order. As long as the fat-cats in DC have nothing to lose and everything to gain, chaos will only get worse. Globalization may be the trend, but I don't think it's helped the USA any.

[dragonfly]

It's time to clean house, simplify the tax code, reduce government size, restore Constitutional power to the individual states. Term limits, line-item veto, end to pork-barrel spending and entitlements would go a long way to restoring order. As long as the fat-cats in DC have nothing to lose and everything to gain, chaos will only get worse. Globalization may be the trend, but I don't think it's helped the USA any.

I vote beegee for president and congress,:)

[Eaglerock]

Although I think the whole housing bailout has a lot to do with a money and power grab, could there be other things at play here?

I was just thinking...could there be a benefit to the whole mess, in some government control, (as socialist as it may be), to stop the bleeding of banks being gobbled up from foreign companies?

I think that the bleeding by wealth leaving this country is a big problem. (please withhold the comments of the war on this) Many companies are held or controlled by foreign governments or companies. And I think it would be hard for the government to use this as an excuse (need to maintain relations, right?).

But if the government stepped in as it wants to with the deals offered, would there be a slowing of business ownership to foreign ownership? I don't know enough about who owns what, the deal as offered, and the implications.



Very Very good point here... I have been wondering on the same lines. I always wonder what else might there be that we don't know about.

But like you I know nothing much on who owns what and from what countries they might be from.

[Eaglerock]

I vote beegee for president and congress,:)

BeeGee can't be both. :doh:
Besides BeeGees need to keep singing.

[Eaglerock]

Congress is inept and corrupt. While there may be some who go to DC with good intentions, they qucikly learn how the game is played.

This is right on the money... And if they don't play the game, they are turned on by their party and will be an out cast.
I have heard stories from someone in congress...

[dragonfly]

BeeGee can't be both. :doh:
.

Oh, I don't know anymore. We may have been better off with a monarchy after seeing what our own governmental body does. It keeps the fighting down somewhat.;)

[Eaglerock]

Oh, I don't know anymore. We may have been better off with a monarchy after seeing what our own governmental body does. It keeps the fighting down somewhat.;)

Maybe we should go back under England's rule?

[MapMan]

Oh, I don't know anymore. We may have been better off with a monarchy after seeing what our own governmental body does. It keeps the fighting down somewhat.;)

Joking aside, there are a lot of benefits to a monarchy. National unity heads up the list, along with an end to bitter and divisive elections every four years.:thumbsup:

MM

[dragonfly]

Maybe we should go back under England's rule?

No, no, I was just being facetious.:), but beegee does have a more accurate view than most, imo.

[Eaglerock]

but beegee does have a more accurate view than most, imo.

:thumbsup::thumbsup: 4 beegee

[BoBn]

Congress is inept and corrupt. While there may be some who go to DC with good intentions, they qucikly learn how the game is played. It's time to clean house, simplify the tax code, reduce government size, restore Constitutional power to the individual states. Term limits, line-item veto, end to pork-barrel spending and entitlements would go a long way to restoring order.

I agree. I would start with term limits and flat tax on all income with no exemptions or deductions.

A couple of good watchdog sites:
http://change-congress.org/
http://www.sunlightfoundation.com/
http://www.sourcewatch.org/index.php?title=Congresspedia
http://www.maplight.org/

The problem is that nothing will really change until there are enough p'd off people to scare the congress.

[sqkcrk]

Joking aside, there are a lot of benefits to a monarchy. National unity heads up the list, along with an end to bitter and divisive elections every four years.:thumbsup:

MM

Until you have to raise taxes to pay the overdrawn royal allowance. Queen Elizabeths' households went millions of dollars overbudget and went back to Parliament w/ the bill.

[dragonfly]

Until you have to raise taxes to pay the overdrawn royal allowance. Queen Elizabeths' households went millions of dollars overbudget and went back to Parliament w/ the bill.
I bet it doesn't hold a candle to all our government funded programs.

[George Fergusson]

Bjorn, you might enjoy reading this article, it puts a lot of information in perspective. It's lengthy, but it speaks to your original question "could there be other things at play here?" which was, a good question.

Financial Tsunami: The End of the World as we Knew it
Sep 30, 2008 - 04:07 PM

By: F_William_Engdahl

Best Financial Markets Analysis ArticleThe unexpected US Congress' rejection of the Bush Administration financial rescue plan, TARP on September 29 has opened up the spectre for the first time of a 1931-style domino wave of worldwide bank failures. That is already underway across the US banking spectrum with the failure, nationalization or forced liquidation in the past two weeks of Fannie Mae and Freddie Mac, of the giant Washington Mutual mortgage lender, of the nation's fourth largest deposit bank, Wachovia. That was on top of a wave of smaller bank failures that began with IndyMac in the spring. For some it is appealing and more simple to grasp the magnitude of these titanic events in the US-centered financial world by assuming it is all part of a pre-planned grand conspiracy by the Money Masters, what in the 1920s in the USA was termed the Money Trust, to control the entire financial world.

continued..
http://www.marketoracle.co.uk/Article6553.html

[dragonfly]

Bjorn, you might enjoy reading this article, it puts a lot of information in perspective. It's lengthy, but it speaks to your original question "could there be other things at play here?" which was, a good question.

Wow George. That is certainly full of information and surprises. Do you think he is accurate with his facts and summarization? It brought up several questions in my mind, and may have answered at least one. When Phil Graham retired a few years ago, I thought it was kind of weird, and unexpected to say the least. I wonder if it had anything to do with all the oozing crap coming out of the woodwork during this financial crisis? I have wondered for years why he retired. Hmmm. If this guy is accurate, this is much larger than I thought.

[George Fergusson]

Wow George. That is certainly full of information and surprises. Do you think he is accurate with his facts and summarization?

For the most part, yes. I've read other stuff he's written and I've followed up on some stuff. Not sure about his assertion that Paulson has $700 billion in Goldman Sachs stock options, I suspect that should be "million" :) I don't automatically believe everything I read, but I do file it away for cogitation. Eventually, pieces add up, or not, and connections are made, or not, and a picture begins to emerge. The picture Engdahl paints looks pretty accurate.

If this guy is accurate, this is much larger than I thought.

Hold open that possibility :)

Gramm spearheaded the repeal of the Glass-Steagall act. Clinton signed it. That makes their motives questionable in my mind. Most people think this crisis is all a big accident.

It's not an accident.

[dragonfly]

Hold open that possibility :)......


It's not an accident.

Hmmm, this thing is becoming more interesting to read than a mystery spy thriller.;)