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@Ontario

Foget my poor Chinese, I recalled there was a Chinese signing if you kill 1 person, you are murder but if you kill thousand, then you are king.

hkchan(0)
Same thing here. If you borrow millon dollars from bank and you can't repay it, they would declare your bankruptcy. But if you borrow billion dollars from bank and you can't repay it, they would do their best to help you out.

And if bank owe hundred of billions dollars, then they are TOO BIG to fail!

Let them fail, let others raise! Actually if US banks fails, then Canda bank my be benefit from the crisis; or even the Chinese bank! That may be the reason that US government had to rescue them; otherwise you would see Bank of China everywhere in US. LOL!
(#5622828@0)
Last Updated: 2009-10-21
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Replies, comments and Discussions:

  • 枫下茶话 / 政治经济 / Roots of financial crisis in Clinton housing policy -hkchan(0); 2009-10-20 (#5619828@0)
    • socializing the risks to the hard working poor/middle class taxpayers and privatizing the profits to the special group of rich/powerful people...the game is still playing... -dvd(weiwei); 2009-10-21 (#5622088@0)
      • I don't quite get your points, do you mind to illustrate further? I can't discuss until I understand what you said. -hkchan(0); 2009-10-21 (#5622662@0)
        • answer this question: billion and billion bail-out dollars from hard working people's tax money going to where? -dvd(weiwei); 2009-10-21 (#5622722@0)
          • NEVER support this stupid idea of bailout!!! If our government want to help auto industry, I would prefer the government gives us $5000 tax rebate for new car and let us choose what auto company that we want to buy from -hkchan(0); 2009-10-21 {788} (#5622787@0)
            If our government really have too much money and they have to inject capital to an auto company, I would prefer Hyundai or even any Chinese auto company. Why invest money on a falling caompany?

            Regarding those stupid investment banking, they did not invest, they gambled! Why save them? Let them failed! Just within 12 months, how much bonus they are going to give out? Did they learn from their lesson? It is just like a son lost all his money from gambling and went back to his father to ask for help. He swear he would never do it again, you probably know if you help your son once, what would be the consequence. He would come back again, again and again until a point that you don't have any more money. The son is the investment bank and the father is the government!
            • Those investment bankers couldn't care less if their nation fails, or bankrupt because of their actions. They are the ones who are getting the real cash out of their government's 'no limit' credit card. -omega4(omega); 2009-10-21 {97} (#5622824@0)
              It's the ordinary working class folks, their children and grandchildren who need to pay it back.
              • Foget my poor Chinese, I recalled there was a Chinese signing if you kill 1 person, you are murder but if you kill thousand, then you are king. -hkchan(0); 2009-10-21 {572} (#5622828@0)
                Same thing here. If you borrow millon dollars from bank and you can't repay it, they would declare your bankruptcy. But if you borrow billion dollars from bank and you can't repay it, they would do their best to help you out.

                And if bank owe hundred of billions dollars, then they are TOO BIG to fail!

                Let them fail, let others raise! Actually if US banks fails, then Canda bank my be benefit from the crisis; or even the Chinese bank! That may be the reason that US government had to rescue them; otherwise you would see Bank of China everywhere in US. LOL!
                • MONEY is in the movement from pocket to pocket. The so called financial crisis and its aftermath bail-out are no doubt a ponzi scheme which is to rip off innocent taxpayer's money to the already rich. We, as honest taxpayer -dvd(weiwei); 2009-10-21 {92} (#5622943@0)
                  we didn't cause the crisis, we use our tax money to bail out those greedy and already rich?
                  • I am very, very against bailout! However, if no bailout means 20%+ unemployment rate, prime rate go to 15%+? You, your spouse would lost the job, house and on welfare; are you still against bailout? -hkchan(0); 2009-10-21 {136} (#5622970@0)
                    I know the consequence but I still prefer no bail out; our government may want to find another way to save the economy but not this one.
                    • The root cause of this problem is the close tie between the politicians and bankers, there're tremendous conflicts of interest here. The people who suppose to oversee and regulate the actions of Wall Street banks are the bankers themselves. -omega4(omega); 2009-10-23 {389} (#5627073@0)
                      Former executives of investment banks become the head of US treasury department and other high level officials, Rubin, Paulson, Gerithner and many more all have such background, and are billionaires themselves.
                      They design the game, play the game, create illusionary profits, cash in their own pockets, loss shifted to taxpayers and ordinary investors, debt on the nation's credit card.
                      • The ROOT CAUSE - The Unlimmited Human Greed and Desires. It's a painful thing when you get really weathy, your exploded desires (sex+money) will drive YOU TOTALLY NUTS. But nothing last forever, Faces Changed, NOT the GREED. -dvd(weiwei); 2009-10-23 (#5627811@0)
                        • I am a very greedy person myself and I aslo have a lot of desires. How many among us can come up and say they are not greedy! My greed and desire are my motvaition to move on. I also like $+woman! -hkchan(0); 2009-10-23 {709} (#5627961@0)
                          Greed and desire are in our DNA! Why do we have financial crisis now? Our DNA suddenly mutate and make us more greedy! I don't think so! There must be factors that allow our greedy to double, triple.....

                          If everyone of us is not greedy and put all our saving in 10 years GIC; do you think those investment bankers would have any money to invest? We all want 10%, 15%, 20% or even 50% annual yield and this is why invest our money instead of putting our money in saving account!

                          Ask yourself where do the investment bankers get their money to invest! Just rich people? Where did American get all the easy and cheap money for their mortage? We do; as matter of fact, China is the #1 lender! Why?
                          • "Greed and desire are in our DNA! Why do we have financial crisis now?" - we had then. For sexual desires, the product is a baby, and for financial greed, the product is -dvd(weiwei); 2009-10-23 {254} (#5628466@0)
                            the pop of bubble. Whichever products, people always desire higher and bigger jerkoff. The human nature is more destructive than productive. Don't forget what happened in 20th century, destroyed-built-destroyed-built-, humans are untamed animals anyway.
    • 原来美国政府从克林顿执政后,就开始冬眠了,现在才醒过来 -kingsw(Steven); 2009-10-21 (#5622949@0)

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