Yeah, and we would see an even bigger return if we would have done aggressive trust busting instead of bailing anyone out. Same effect but with private money instead of public, plus it would actually create more jobs and stop bubbles from inflating and companies from becoming "too big to fail".
__________________ Land of the free, home of the brave...
Do you think we will ever be saved?
In this land of dreams find myself sober...
Wonder when will it'll all be over...
Living in a void when the void grows colder...
Wonder when it'll all be over?
Will you be laughing when it's over?
Mike's waaaay too late guide to trust busting and bailing out US citizens the right way (to be applied to the auto industry, AIG, Banks, etc.)
1. The government seizes troubled industries along with the passports of executives.
2. The government splits companies in a logical way, such as along product lines or regions
3. The government auctions off the smaller companies to private investors, using the profits from the auction to pay off bad company debts and protect worker benefits as well as to pay for their costs.
4. The government sells foreign plants, offices and assets to private companies or directly to the workers operating in the countries.
5. Any costs not covered by the auction or sale of foreign assets are paid directly from the executives' personal assets as a condition of returning their passports.
6. The newly created companies create jobs because they each have to open new offices and hire many new positions that were initially lost.
Wasn't that easy? And it cost a lot less than $700 billion!
__________________ Land of the free, home of the brave...
Do you think we will ever be saved?
In this land of dreams find myself sober...
Wonder when will it'll all be over...
Living in a void when the void grows colder...
Wonder when it'll all be over?
Will you be laughing when it's over?
This is the kind of reporting that Fox News would do. (Because they know their primary viewing demographic is too stupid to analyze the data properly.)
That is profits from what they paid back.
In order for you to use the $700 billion dollar figure, you first need to find out how much of the $700 billion base has been paid back, then subtract an additional $4 billion from that to arrive at the correct amount of money left to be paid back.
The number you reported was profit only. They made a profit off of what was paid back.
I borrow $10 from you. You charge 20% interest.
That means I have to pay you back the $10 and an additional $2 in interest.
The numbers you reported were only the $2, so, saying that there's still $696 billion left to pay back would be very inaccurate. The number is likely much smaller.
No, I'm not saying that. How did you get that out of my post?
No they didn't. The $4 billion is profits, a.k.a. money they've made off of interest. I've already explained in simpler terms and simpler amounts.
Edit - Okay. I can see what you're talking about, now. You think I implied the $700 billion was paid back because I said the person paid back all $10 and the $2 in interest. In context, you would understand from a previous post that that's not what I was implying. I already pointed out that we don't know what the $4 billion represents. They paid back what? Did they pay back a combined $20 billion with $4 billion interest, total? What? That's what I'm talking about. I guess I need to apologize for not being more clear.
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Last edited by dadudemon on Aug 31st, 2009 at 09:32 PM
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Aug 31st, 2009 01:16 PM
(Because they know their primary viewing demographic is too stupid to analyze the data properly.)
