carolaa Posted June 23, 2009 Share Posted June 23, 2009 If you think the banks are repaying most of the bailout money, think again. It's only part of the TARP money they are giving back, which came with strings and oversight attached, and they can't wait to get that albatross off their backs. But the TARP money was only a drop in the bailout bucket, a few billion out of trillions. Meanwhile, Goldman Sachs is getting ready to pay out their biggest bonuses in history. http://www.democracynow.org/2009/6/22/report_goldman_sachs_on_pace_to Quote Link to comment Share on other sites More sharing options...
Dr. Shane Posted June 27, 2009 Share Posted June 27, 2009 The banks need to get those strings cut loose. Many of the government strings have cost the banks their best and brightest employees. The government has capped salaries and stopped many bonuses so as a result many of the managers have quit and went to work for other bankers. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity Link to comment Share on other sites More sharing options...
carolaa Posted June 27, 2009 Author Share Posted June 27, 2009 I'm not disputing whether they need to cut strings or not. It's great they are paying some of the money back. But what they are paying back is just a drop in the bucket, and yet they are happy to have the public believe they are paying back in full and are in good shape, back to normal status. Quote Link to comment Share on other sites More sharing options...
Dr. Shane Posted June 28, 2009 Share Posted June 28, 2009 Public confidence is a good thing. We are not going to get out of this recession until public confidence is restored. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity Link to comment Share on other sites More sharing options...
carolaa Posted June 28, 2009 Author Share Posted June 28, 2009 So that's a good reason to mislead the public?! Quote Link to comment Share on other sites More sharing options...
Dr. Shane Posted June 28, 2009 Share Posted June 28, 2009 It isn't misleading the public. What is being reported is true. What is bad is for the media to get the public paranoid by sensationalizing the news. That leads to a downward spiral. When consumer confidence is restored it will be a self-fulfilling prophecy. When consumers believe the economy is getting better and start acting like it, the economy will in fact get better. We live in a consumer-driven economy. Consumer confidence is crucial and the media's sensationalizing the news plays a big role in it. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity Link to comment Share on other sites More sharing options...
carolaa Posted June 28, 2009 Author Share Posted June 28, 2009 That is really a copout. So they are reporting the truth, but it is far from the whole truth. And you think reporting the whole truth would be sensationalizing the news?! Quote Link to comment Share on other sites More sharing options...
Dr. Shane Posted June 28, 2009 Share Posted June 28, 2009 They are reporting the relevant facts. The idea that is a copout is simply an opinion. The banks are paying back money. That is good news. Why be a wet blanket about that? Why rain on someone's parade? Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity Link to comment Share on other sites More sharing options...
carolaa Posted June 28, 2009 Author Share Posted June 28, 2009 Because they are being deceitful. They are only paying back part of the money that had strings attached that they don't like. Sure, that's great. But it is a drop in the bucket. Meanwhile, they are happily enjoying their nice no-strings parade provided by the taxpayers. It would be a pity to rain on their good time. Particularly when they have been so thoughtful of the American public. Quote Link to comment Share on other sites More sharing options...
Dr. Shane Posted June 28, 2009 Share Posted June 28, 2009 No, it is not deceitful at all. The reporting is accurate. Now it is rather silly to pretend that what is good for the banks is not the same as what is good for the tax payers or American people. The American tax payers need successful banks. This is not an issue of "us" against "them". We are all in this together. When the banks get better the economy gets better. The fact the banks can pay back a "drop in the bucket" is huge. It means that rather than having to borrow more money, they are now paying it back. The tide has turned in the financial industry. That should call for dances in the streets. Criticizing that as a "drop in the bucket" misses the headline. Let's relate it to personal finance. Let's say that for years I have been going into debt. So much that I owe $100,000 in debt not including my mortgage. Then one day I have an awakening. The first thing I do is stop borrowing money. Then I start paying off debt. The first debt I get completely paid off is a $1,000 credit card debt. Do I have reason to celebrate and be happy or would that be silly since it is just a "drop in the bucket"? That debt is highly significant because it represents change in financial direction. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity Link to comment Share on other sites More sharing options...
carolaa Posted June 29, 2009 Author Share Posted June 29, 2009 The only reason they are paying it back is because they don't like the strings attached. Otherwise, they would pay back the first bailout money they took - before they took the money with strings attached. Once they start paying back the first money, I will start being impressed. I'm not holding my breath on that. It is absolutely not the whole truth that is being reported. Yet it is being portrayed as the whole truth. That is deceitful. It appears it is ok to deceive the American people as long as it is felt to be in their best interest. Quote Link to comment Share on other sites More sharing options...
Dr. Shane Posted June 29, 2009 Share Posted June 29, 2009 No deception is going on. Paying back the money that has strings attached is logically the first money they should pay back. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity Link to comment Share on other sites More sharing options...
carolaa Posted June 29, 2009 Author Share Posted June 29, 2009 Still not holding my breath..... Quote Link to comment Share on other sites More sharing options...
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