Citi Group Execs get PWNED...
Registered User
Joined: Jan 2006
Posts: 6,536
Likes: 0
From: Orlando
Originally Posted by Sr2oD3' date='Jan 27 2009, 11:41 AM
it's one of the two, either blame the government for stepping in to advise a company to not throw money away or complain about the bank spending your money poorly.
you can not please some people
you can not please some people
Registered User
Joined: Jun 2001
Posts: 3,867
Likes: 0
From: Oh kwa tan zen wan
Originally Posted by rahvis' date='Jan 27 2009, 02:51 PM
Why the #@$*! shouldn't the government step in and tell Citi Group not to spend money on a $50,000,000 jet?
Government DOES NOT KNOW HOW TO RUN A BUSINESS.
What got us into this mess? The stupid idiots that have to have the latest and greatest to keep up with the Jones'. Greed, plain and simple. It all stems from the common dolt on the streets.
Registered User
Joined: Jan 2006
Posts: 6,536
Likes: 0
From: Orlando
Originally Posted by kadeshpa' date='Jan 27 2009, 04:57 PM
Well for one, this country was built on a free market economy. The free market is what made this country a powerhouse. When you allow a business to make decisions free from government intervention, you allow growth and prosperity. Market factors should "govern" business. Not a bunch of fatcats in Washington that don't know their asses from their elbows.
Government DOES NOT KNOW HOW TO RUN A BUSINESS.
What got us into this mess? The stupid idiots that have to have the latest and greatest to keep up with the Jones'. Greed, plain and simple. It all stems from the common dolt on the streets.
Government DOES NOT KNOW HOW TO RUN A BUSINESS.
What got us into this mess? The stupid idiots that have to have the latest and greatest to keep up with the Jones'. Greed, plain and simple. It all stems from the common dolt on the streets.
Registered User
Joined: May 2008
Posts: 11,074
Likes: 0
From: All up in your inner tubes. Whatcha gonna do sucka?
Originally Posted by Elistan' date='Jan 27 2009, 02:29 PM
Wait, I'm confused - are you ranting about 1) Citi being told to not buy a $50mil jet? Or are you ranting about 2) the TARP program to begin with? Or are you ranting about 3) the financial issues? Or even more broadly, are you ranting about 4) American society/politics in general?
While there are certainly issues with #2, #3 and #4 they are what they are right now, and given that reality, #1 is a very good thing IMO.
While there are certainly issues with #2, #3 and #4 they are what they are right now, and given that reality, #1 is a very good thing IMO.
but alas, that is my opinion
Registered User
Joined: May 2008
Posts: 11,074
Likes: 0
From: All up in your inner tubes. Whatcha gonna do sucka?
Originally Posted by kadeshpa' date='Jan 27 2009, 04:57 PM
Government DOES NOT KNOW HOW TO RUN A BUSINESS.
Registered User
Joined: May 2008
Posts: 11,074
Likes: 0
From: All up in your inner tubes. Whatcha gonna do sucka?
and for what its worth
Originally Posted by wikipedia
The effects of the TARP have been widely debated. A review of investor presentations and conference calls by executives of some two dozen US-based banks by the New York Times found that "few [banks] cited lending as a priority. An overwhelming majority saw the bailout program as a no-strings-attached windfall that could be used to pay down debt' date=' acquire other businesses or invest for the future." The article cited several bank chairmen as stating that they had no intention of changing their lending practices to "accommodate the needs of the public sector" and that they viewed the money as available for strategic acquisitions in the future.
A congressional review panel concluded on January 9, 2009: "In particular, the Panel sees no evidence that Treasury has used TARP funds to support the housing market by avoiding preventable foreclosures". The panel also concluded that "Although half the money has not yet been received by the banks, hundreds of billions of dollars have been injected into the marketplace with no demonstrable effects on lending."
A congressional review panel concluded on January 9, 2009: "In particular, the Panel sees no evidence that Treasury has used TARP funds to support the housing market by avoiding preventable foreclosures". The panel also concluded that "Although half the money has not yet been received by the banks, hundreds of billions of dollars have been injected into the marketplace with no demonstrable effects on lending."
Joined: Oct 2000
Posts: 3,642
Likes: 0
From: Tulsa, OK
Originally Posted by kadeshpa' date='Jan 27 2009, 06:57 PM
Well for one, this country was built on a free market economy. The free market is what made this country a powerhouse. When you allow a business to make decisions free from government intervention, you allow growth and prosperity. Market factors should "govern" business. Not a bunch of fatcats in Washington that don't know their asses from their elbows.
Government DOES NOT KNOW HOW TO RUN A BUSINESS.
What got us into this mess? The stupid idiots that have to have the latest and greatest to keep up with the Jones'. Greed, plain and simple. It all stems from the common dolt on the streets.
Government DOES NOT KNOW HOW TO RUN A BUSINESS.
What got us into this mess? The stupid idiots that have to have the latest and greatest to keep up with the Jones'. Greed, plain and simple. It all stems from the common dolt on the streets.
As for the comment that the government doesn't know how to run a business, I agree, but it's hard to say that the people running these businesses know how to do it any better. The greed wasn't only the borrowers, but the lenders as well. The people at the top were more than happy to keep making these ridiculous loans and collecting their millions in bonuses.
Thread Starter
Registered User
Joined: Mar 2005
Posts: 3,720
Likes: 0
Originally Posted by Jamison1987' date='Jan 27 2009, 06:30 PM
While I'm not for the purchase of a $50 mill jet (especially from the French lol), lets look at both sides of the story to be fair. What will the Jet really be used for? Will it bring in enough money to pay for itself quickly and benefit the company? Will it in any way help save the company time and money? Or will it be a luxury item for a company that has no business spending that amount of cash on a freaking jet? Heres an idea: Lease the Jet or buy a used one! Lets get all the facts first...
Net Meetings, and Southwest airline. I just saved you $50 million. You are welcome
Registered User
Joined: May 2003
Posts: 1,018
Likes: 0
From: Moving
but what do I know? I think this country has become a bunch of bullshit to begin with. too much emphasis on consumerism, too much reliance on debt, advertisments everywhere you look. if our forefathers were around to see what we'd become, chances are we'd still be part of england.
but maybe its the anarchist in me who thinks we'd be in a better place if this country fell apart and we were given a chance to rebuild it.
see how our society is dominated by image, sex, money, and power.
