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Poll
Question: Who or what caused the financial crisis on Wall Street
Republican Administration's lack of regulation - 0 (0%)
Democrats not acting to stop the loans - 0 (0%)
Greed of financial institutions leadership - 3 (75%)
People borrowing more on houses than they could pay back - 0 (0%)
Fate or God's will - 0 (0%)
All of us are at fault for letting this happen - 1 (25%)
Total Members Voted: 3

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Author Topic: Financial Crisis Poll  (Read 6006 times)
Sam
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« on: October 08, 2008, 02:40:57 AM »

We like to place blame on someone in times of stress and turmoil so I thought I would start this poll to see what everyone thought.
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Life is not measured by the number of breaths we take, but by the moments that take our breath away. -- George Carlin
RideTheWalrus
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« Reply #1 on: October 08, 2008, 03:39:54 PM »

There was no way the bail-outs were going to work, and I think the majority of the government knew that before they pushed them through.  They simply wanted to act like they were doing something to solve the problem.

In fact the bail-outs made things worse.

Our government has a tendency to put off problems until the last minute - if it can't be solved within their term of office, then it's the next guy's problem.  As such they let problems build, and build, and build.

I think the core problem is our government and the federal reserve.
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chet
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« Reply #2 on: October 09, 2008, 06:19:09 AM »

The UK government is also going to give billions of pounds of taxpayers' money to help our banks. It strikes me as strange how that same government can't help our local schools or our National Health Service! Indeed my local hospital has had to close its cardiac unit, putting lives at risk, despite many people marching and campaigning against the closure. The government said to us, 'You have to understand, we don't have the money. Everything must be cost-effective.' But somehow this same government finds billions of pounds to prop up the banks!

What annoys me is the injustice. When you or I have a credit card we MUST pay on the dot or we get charged this fee and that fee and will be taken to court in the last analysis. If you're overdrawn at the bank you get charged hefty fees and charges. I was once 14 pence overdrawn and got charged £30  :o even though I brought my account back into the black the very next day. I went into my bank and asked the manager if the 'fee' of £30 could be waived since I had sorted it out within 24 hours and he said No, because I had agreed to such conditions when I opened the account etc etc.

So it does really annoy me when these very same banks, who make millions and millions of profit every year, are getting government injections of BILLIONS of pounds or dollars because THEY have got themselves into debt!!!! I wish someone would help ME like that - for example, pay me 15 pence so I can avoid my bank overdraft charge.  >:(
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RideTheWalrus
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« Reply #3 on: October 09, 2008, 02:39:34 PM »

http://www.youtube.com/watch?v=Zf2ijxsBcz0

http://www.youtube.com/watch?v=BynmfaBjFLA

Very infuriating stuff...
« Last Edit: October 09, 2008, 02:40:33 PM by RideTheWalrus » Logged
TRAVELLER
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« Reply #4 on: October 16, 2008, 11:32:29 AM »

This, not unlike the "War on Terror", is merely a distraction. In the grand scheme of things...it isn't important. Re-direct your focus back to where it belongs...


Traveller
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Joost
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« Reply #5 on: November 13, 2010, 02:21:00 AM »

Hi Sam,

I just voted for 'greed'in the financial crisis poll. I missed however one option, which is fear. I think the financial world is in fact governed by fear. It's one big self fullfilling prophecy. If you'd start spreading the rumour that things will go wrong, all the indexes will plummet and things will go wrong. If you'd start spreading good news, people will gain trust and everything will be ok. The crisis would be over soon. I think there's hardly a better example to be found of fear creating reality than the financial world.

love joost 
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Sam
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« Reply #6 on: May 17, 2013, 01:44:55 AM »

I agree with you.

Sam
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Life is not measured by the number of breaths we take, but by the moments that take our breath away. -- George Carlin
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