NWR: Government / Investment Banks and the Stock Market

Rumors are starting to circulate that the government could possibly end up nationalizing (taking over, essentially) Morgan Stanley or Goldman.

The Emergency Economic Stabilization Act really gave the govt almost unlimited power to intervene, to avoid what happened at Lehman.

I'm just wondering what people think about this? It seems kind of socialist to me, but being that I work at one of these banks, my view might be skewed.

Definitely does sound socialist. I think now of course more people will be for it just bc they want something done BUT what happens when things do get better ya know. Are people gonna want to continue this? will government let go of control once things are fine. I think thats when it will become a bigger problem. The US is all about a free market and this is taking away from what the USA is about.

Something has to be done though. What about the execs at AIG who after were given 85 billion dollars, they went on a $450,000 weekend getaway with that money are they out of their F*IN minds, that is so disgusting. I wasnt for the bail out plan so now that it hasnt worked yet and after they were given money they do this makes me even more upset. Oh and they also had a huge party with $150k i think

I knew you would respond Denise

This has nothing to do with AIG abusing the situation (which we all agree they did, I believe) That really isn't how every firm would react to being given the bailout money.

I supported the bailout plan, and still do - its going to take some time to work, but I find this to be weird and a little scary. .

I think it's def. socialist. I think there should be some regulation...but not unlimited power. I agree with Denise..what happens when the financial markets get better...this unlimited power is not what the U.S. is about.

I was for the bailout and it prob. still needs time for it to work. I think them taking so long to pass it is what helped destroy confidence. I think what's going on right now is panic selling, because confidence is low. I'm hoping we see bottom soon so we can start going up again. Confidence is what needs to be restored.

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Posted by MrsHtobe

I knew you would respond Denise

This has nothing to do with AIG abusing the situation (which we all agree they did, I believe) That really isn't how every firm would react to being given the bailout money.

I supported the bailout plan, and still do - its going to take some time to work, but I find this to be weird and a little scary. .

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i know i have to respond to every political thread but I like having these conversations and seeing others views.

I know its true, i just had to throw the AIG thing bc i was so upset about that lol.

I was against it, then when i got scared and said well anything that works at this point but now im scared about it again. It is very weird and so scary, I keep wondering how bad is it going to get before it gets better.

ETA: and this is why I am annoyed about the whole bail out plan. Others had come up with a plan without having to give these corporations all this money and without us getting taxed. Now those in favor of the bail out plan said that although that plan was good, it would take time for it to work and we don't have time. Well if the bail out plan will take time then how did they deny the other one for taking time to work and one where our tax money wouldn't have been used

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Posted by MrsHtobe

Rumors are starting to circulate that the government could possibly end up nationalizing (taking over, essentially) Morgan Stanley or Goldman.

The Emergency Economic Stabilization Act really gave the govt almost unlimited power to intervene, to avoid what happened at Lehman.

I'm just wondering what people think about this? It seems kind of socialist to me, but being that I work at one of these banks, my view might be skewed.

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It is a socialist move but no one talks about it because socialism for the rich is accepted. But bring up healthcare and people go insane!

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Posted by Songstress

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Posted by MrsHtobe

Rumors are starting to circulate that the government could possibly end up nationalizing (taking over, essentially) Morgan Stanley or Goldman.

The Emergency Economic Stabilization Act really gave the govt almost unlimited power to intervene, to avoid what happened at Lehman.

I'm just wondering what people think about this? It seems kind of socialist to me, but being that I work at one of these banks, my view might be skewed.

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It is a socialist move but no one talks about it because socialism for the rich is accepted. But bring up healthcare and people go insane!

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good point about that. Now i am not 100% for universal healthcare but thats not the topic lol but its true. I mean how is it ok to be socialist for one thing but then so against it for other reasons.

Its the ever popular hypocrisy


'liberal believes in liberty. A socialist believes in equality for all. And a democrat believes in democracy. So yes, I am proud to be all 3'

Im a fan of that quote. Flame me if you must

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Posted by Songstress

Its the ever popular hypocrisy


'liberal believes in liberty. A socialist believes in equality for all. And a democrat believes in democracy. So yes, I am proud to be all 3'

Im a fan of that quote. Flame me if you must

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i never heard that one, but its true. People believe in whatever benefits them at the time.

I know our economy is in alot of trouble but does this mean we go against everything the US has stood for. Its hard to argue this of course at this time when things are this bad because everyone is just thinking about the economy getting better ASAP.

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Posted by Songstress

Our current president has made a mockery of out country and has gone against everything the US stands for in my eyes.

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not just him but MOST in government period. He wouldn't be able to do anything if nobody voted for any of these things. If everybody else was against this and it was just him then none of it would've gone through.

Maybe the world really is ending 2012 lol. It was a joke, im not one of the people who is scared about this.

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Posted by Espo22

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Posted by Songstress

Our current president has made a mockery of out country and has gone against everything the US stands for in my eyes.

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not just him but MOST in government period. He wouldn't be able to do anything if nobody voted for any of these things. If everybody else was against this and it was just him then none of it would've gone through.

Maybe the world really is ending 2012 lol. It was a joke, im not one of the people who is scared about this.

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That too!

When we were in Mexico we asked out Mayan tour guide about that and he said not to worry. He said the calendar just starts over and people made it into this apocalyptic thing

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Posted by Songstress

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Posted by Espo22

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Posted by Songstress

Our current president has made a mockery of out country and has gone against everything the US stands for in my eyes.

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not just him but MOST in government period. He wouldn't be able to do anything if nobody voted for any of these things. If everybody else was against this and it was just him then none of it would've gone through.

Maybe the world really is ending 2012 lol. It was a joke, im not one of the people who is scared about this.

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That too!

When we were in Mexico we asked out Mayan tour guide about that and he said not to worry. He said the calendar just starts over and people made it into this apocalyptic thing

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yeah joe says 'how do you know the guy who made them didnt just get tired of making them and said ok ive done enough' BUt we were watching the history channel the other night and they had a very interesting thing on this. Theres actually 13 astrological signs, but the 13th is in between 2 and positioned higher so thats why theres only 12. ALso they say bad luck 13 comes from that too. Well every 13,000 years do we position ourselves with that sign well right in the middle which is called dark rift i think. The sign is something with an O i forgot the spelling and dont want to butcher it. They spoke alot more about this but they say that the next time we will be positioned with that sign is 2012, so of course with that fact, the mayan calendar ppl are going crazy. I don't believe it but just the things they talked about were cool, they showed how its a cross in the sky between the sign to form perfect lines across, how the 13th sign was discovered and all that. That whole part was cool