The Double Standard Continues......

Obama announces “We cannot, we must not, and we will not let our auto industry simply vanish,” the president said at the White House, announcing new and final deadlines for the No. 1 and No. 3 U.S. automakers to remake themselves. “But we cannot continue to excuse poor decisions. And we cannot make the survival of our auto industry dependent on an unending flow of taxpayer dollars.”

He also stated that chapter 11 is now an option. To me this is good news for bankruptcy should always be a method to liquidate debt and when you fail you should be allowed to fail. GM has been essentially bankrupt for a couple decades now and really needs to go into some sort of reorganization which it seems Obama is now for.

Here is my beef why the hell arent these same standards put on the banking industry? I wrote a thread about this same issue last year complaining about the same thing and it seems it still is not changing. Why is this? Why are the essentially bankrupt financial institutions *cough AIG* allowed to go under? I mean for what its worth at least the auto companies produce a product banks make nothing but imaginary wealth. They over pay their peeps just like the auto companies do in fact are still getting bonuses to this day. They pay very little in taxes and it came out yesterday they havent even been paying their FDIC insurance.

People there are times when you have to ask yourself what do the bankers have on our government that we are to back them, no questions asked, give as much money as they need, they pay very little in taxes, and have the tax payers as a backstop for poor decisions. If you dont believe in conspiracy theories then this in itself is one big conspiracy because there is no reason we should be robbing our kids futures for the "privilege" of borrowing money at interest.

Because the banks are pivotal to their scheme. The "paper" which isnt worth the number thats printed on it, spells "control". Without it,
there is nothing, no control of trade, no traceback of good except word of mouth.

When they can no longer control, then the playing field becomes level, and they DO NOT want that!

Because the total liabilities on the derivatives written by the big banks exceeds the global GDP, possibly even exceeds all the wealth ever accumulated in the world.

It has all been a huge ponzi scheme, and as with any ponzi scheme, the ones running it are making for the door with as much money as they can carry before the marks (that's you and me and the 6 billion plus suckers) realize what's been going on. Bad news for them, there isn't going to be anywhere to hide.

reply to post by mybigunit

People there are times when you have to ask yourself what do the bankers have on our government that we are to back them, no questions asked, give as much money as they need, they pay very little in taxes, and have the tax payers as a backstop for poor decisions.

Maybe cause the banks know exactly how much each politician has in their personal accounts and where the money is coming from. It is a double standard.

The CEOs of the banks get a nice White House lunch and private time and the Auto CEO get fired. Once again the double standard.......

reply to post by jam321


The biggest scam played on the backs of the tax payer in the nation, they own the government and now the government owned by the banking elites owns the tax payer for generations to come.

Only when the government is owned in this way you can understand how in the "hell" we are now given unlimited powers to the treasury to print money at will while the Fed keeps funneling money in the nation and oversea to keep this banking elites behind the scam alive and their wealth protected.

We are now the milking cows to this big scam.

And remember We do not question the fed and the fed do not get audited publicly if ever.

What Bernanke wants Bernanke gets.



[edit on 30-3-2009 by marg6043]

This thread here might explain a little something.....

www.abovetopsecret.com...

reply to post by mybigunit


at one time, engineers like in the auto industry, were the epitome of
a workers aspirations... along with specialists like architects, surgeons,
astronauts

sometime during the ME-generation, a marked shift took place...

the brokers, bankers, financiers became the new epitome of achievement,
CEOs adapted and just holding the reins of a corp & conducting
ethical growth was no longer the paradigm...
Wizardry--- used by the wealth merchants since before the Jesus confrontation with the money-changers at the Temple was now the new & accepted paradigm....
If one could not trick profits & wealth from cutting-corners & stretching the ethical code---then you were fired as a CEO for another who could empty the company treasury/raid the pension plan/ off-shore the workers/ feather your bed with a golden parachute even as you cut the legs out from the corp. itself... the money-changers have enjoyed a coup/takeover


now the guillotine is being lubed & readied for 2010 & beyond

Originally posted by St Udio
reply to post by mybigunit

 

at one time, engineers like in the auto industry, were the epitome of
a workers aspirations... along with specialists like architects, surgeons,
astronauts

sometime during the ME-generation, a marked shift took place...

the brokers, bankers, financiers became the new epitome of achievement,
CEOs adapted and just holding the reins of a corp & conducting
ethical growth was no longer the paradigm...
Wizardry--- used by the wealth merchants since before the Jesus confrontation with the money-changers at the Temple was now the new & accepted paradigm....
If one could not trick profits & wealth from cutting-corners & stretching the ethical code---then you were fired as a CEO for another who could empty the company treasury/raid the pension plan/ off-shore the workers/ feather your bed with a golden parachute even as you cut the legs out from the corp. itself... the money-changers have enjoyed a coup/takeover


now the guillotine is being lubed & readied for 2010 & beyond

Star for you sir I totally agree. I think we can link this same mindset that has caused the huge gap in pay we see today also. In 1980 the average fortune 500 CEO made 42 times his average employee and now its 400 times. Why work for a living when you can just create fake money and call it wealth.