80 billion dollars of our money handed to an insurance company.....
but the 15,000 people who didnt evacuate galveston?
forced eviction. no water. no services. no deliveries. no temporary shelters. no government guarenteed loans. just get out and we will let you know when you can come back to YOUR property.
katrina wasnt a fluke. the majority of assistance the people in houston are getting is from churces and radio stations.
FEMA? they staged trucks with water and ice ready to go before the storm even arived. 36 hours AFTER the storm still no trucks. after the republican govonor of texas started raising a stink, they STARTED rolling towards the city.
and when they got there? they parked their trucks outside of the city limits and.....did nothing. there were no plans or infrastructure for FEMA to actually distribute the ice and water. all they set up to do was deliver it. it was left to the govoner of texas to take charge and actually deliver the ice and water.
tens of thousands of AMERICANS are displaced. no electricity means no income. no income means dwindeling resources. no federal guarenteed laons for home owners, just for bussinesses.
80 billion dollars handed to aq poorly run insurance company that ran itself into the ground.
but for a few thousand AMERICANS in desperate need?
get out. if you dont leave, we will remove you from YOUR propety.
this is the moral majority working hard for.....insurance, mortguage, and oil companies. the rest of you can just....get out.
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You gotta consider though.
All those homes that were scrubbed off the beach by a pressure washer of a hurricane? They had insurance. Many of them had homeowners insurance by a company that was owned by AIG.
If AIG went under, not only do they no longer have a home to go back too, all their hurricane insurance is suddenly worth jack ****.
All those homes that were scrubbed off the beach by a pressure washer of a hurricane? They had insurance. Many of them had homeowners insurance by a company that was owned by AIG.
If AIG went under, not only do they no longer have a home to go back too, all their hurricane insurance is suddenly worth jack ****.
catwho, pet mage of Jabober wrote:
You gotta consider though.
All those homes that were scrubbed off the beach by a pressure washer of a hurricane? They had insurance. Many of them had homeowners insurance by a company that was owned by AIG.
If AIG went under, not only do they no longer have a home to go back too, all their hurricane insurance is suddenly worth jack sh*t.
All those homes that were scrubbed off the beach by a pressure washer of a hurricane? They had insurance. Many of them had homeowners insurance by a company that was owned by AIG.
If AIG went under, not only do they no longer have a home to go back too, all their hurricane insurance is suddenly worth jack sh*t.
I was thinking the same thing. That bailout money really is going to end up covering damages from events like the hurricane.
I actually suspect that the hurricane was what caused AIG to implode. They were making it, scraping along, then suddenly there will be hundreds of thousands of people demanding hundreds of millions of dollars, and they didn't actually have the assets in a liquid form. (Oh the irony if any of it was actually in mortgage backed securities.)
When you think about it, the entire financial system in the US today is made of vapor. I promise you money, so you take that prommissory note and use it as an asset, then take out a loan for twice as much. Then you use the prommissory note that I gave you as an asset as well, and do the same.
It works well as long as no one actually expects to be paid back for a long, long time.
When you think about it, the entire financial system in the US today is made of vapor. I promise you money, so you take that prommissory note and use it as an asset, then take out a loan for twice as much. Then you use the prommissory note that I gave you as an asset as well, and do the same.
It works well as long as no one actually expects to be paid back for a long, long time.
I thought this was IKE. 
Mistress Darqflame wrote:
I thought this was IKE.
Ike Turner? Nice metaphor Darq! Government is kinda slappin' us around like Ike did Tina.
catwho, pet mage of Jabober wrote:
You gotta consider though.
All those homes that were scrubbed off the beach by a pressure washer of a hurricane? They had insurance. Many of them had homeowners insurance by a company that was owned by AIG.
If AIG went under, not only do they no longer have a home to go back too, all their hurricane insurance is suddenly worth jack sh*t.
All those homes that were scrubbed off the beach by a pressure washer of a hurricane? They had insurance. Many of them had homeowners insurance by a company that was owned by AIG.
If AIG went under, not only do they no longer have a home to go back too, all their hurricane insurance is suddenly worth jack sh*t.
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while that may make for a good sound bite for people not willing to look any deeper.....it is far from the truth.
it was rising water that destroyed those homes, not wind. and because THIS ADDMINISTRAITION allowed insurance companies to seperate rising water damage from storm coverage......and then shed it all together like a bad habbit.....inaurance companies will not take a big hit for this. just like katrina, they will pay very few claims.
you cant buy flood insurance from private insurers in low lying places like galveston or new orleans.
you can only get it from the FEDERAL flood insurance program.
so for those people who actually had flood insurance, it is a GOVERNMENT insurance program that is going to pay for it, not any private insurance company.
in new orleans, the banks didnt make flood insurance mandatory. MOST of the homes destroyed there were not insured as a result. those people lost EVERYTHING.
in galveston, it was mandatory. but those costs are coming out of YOUR tax dollars because of the bill passed allowing private insurance companies to sheed rising water damage from storm coverage. most of the expence for fixing those homes are coming out of YOUR pocket, not AIGs.
so again i say........
80 billion dollars to bail out a poorly run private for profit company.......
but for the americans whose pockets that money is going to come out of.....get out, we will tell you when you can come back to YOUR property. no guarenteed loans. no water and food deliveries. no temporary shelters. just GET OUT.
welcome to the new world order. hope you repubs are proud of the machine you created.
they are making the evacuation after the storm from the pensula mandatory. citing it is necessary for them to remove the remaining people to better asses damage and search for people in need.
they are not ASKING any more.
and it was the local government who finally distributed the water and ice, not FEMA. and that was a result of the govonor taking charge and getting it done. as far as FEMA was concerned, they were finnished when they drove the supplies up.
yes, it was done 3 hours AFTER the govonor got involved. but that was 36 hours AFTER the storm had passed. the supplies were sitting in staging areas since before the storm. most of the supplies that reached the people were a result of community church efforts and radio station drives as well as private efforts. those were the relief getting to the people within 24 hours while FEMA supplies were still sitting in staging areas.
no temporary shelters. no government backed loans for people in need. no emergancy medical assistance sent in.
just get out. we will let you know when you can come back. wish we could do more, but we have to spend YOUR tax dollars bailing out failed private for profit companies who drove themselves in the ground first.
200b for fannie may and freddie mack, 80b for AIG, and tens of billions more for a couple other mortguage companies.
how much money would it have taken to rebuild the lost homes from katrina? 40b? 100b?
too much to ask. but god forbid some fat CEOs get their shorts in a knot. then spare no expense.
the people of galveston? sorry, gotta spend YOUR money helping out big corperations. so, for now, just....get out...of our way.
thats the biggest problem with the republican party. they dont understand that the people ARE the economy. not the bussiness. if the people have means they create demand that WILL BE FILLED even if some bussinees go bellie up. others will jump right in to fill the need.
katrina is a mess because the bushies pulled out all the stops to help the bussinees get up and ruinning again.....but diod little to nothing for the people. the inevitable result? those bussiness took that money and LEFT. those that stayed eventually shuttered their doors becuase there was no one to buy what they were selling.
you can not build an economy from the top down. it must be supported from the bottom up. without the support at the bottom, it falls. without someone capable to spend cash for that they are selling, it doesnt matter what you sell, you fold up.
the addministraition should ahve pulled out all the stops for the PEOPLE. we have CLEARLY seen with our own eyes in the last few weeks that the govenmnet is capable of delivering staggering amounts of money to throw at a problem to fix it.
we have seen in the last few weeks that new orleans is still a mess, not for lack of ability or funds, but for a lack of political will to fix the problem.
and texas is just more proof they dont give a damn about the people, just the lobbiest dollars...err....bussiness.
the three situations, katrina, galveston, and the financial mess is a clear indicator of where this addministraitions priority lies. the financial sector problems and the governments response is a clear message to the people suffering from natural disasters, healthcare issues, SS issues, retirement issues, and even this financial mess that the people DO NOT MATTER.
you repubs still a bit thick headed yet or are you starting to see the light?
they are not ASKING any more.
and it was the local government who finally distributed the water and ice, not FEMA. and that was a result of the govonor taking charge and getting it done. as far as FEMA was concerned, they were finnished when they drove the supplies up.
yes, it was done 3 hours AFTER the govonor got involved. but that was 36 hours AFTER the storm had passed. the supplies were sitting in staging areas since before the storm. most of the supplies that reached the people were a result of community church efforts and radio station drives as well as private efforts. those were the relief getting to the people within 24 hours while FEMA supplies were still sitting in staging areas.
no temporary shelters. no government backed loans for people in need. no emergancy medical assistance sent in.
just get out. we will let you know when you can come back. wish we could do more, but we have to spend YOUR tax dollars bailing out failed private for profit companies who drove themselves in the ground first.
200b for fannie may and freddie mack, 80b for AIG, and tens of billions more for a couple other mortguage companies.
how much money would it have taken to rebuild the lost homes from katrina? 40b? 100b?
too much to ask. but god forbid some fat CEOs get their shorts in a knot. then spare no expense.
the people of galveston? sorry, gotta spend YOUR money helping out big corperations. so, for now, just....get out...of our way.
thats the biggest problem with the republican party. they dont understand that the people ARE the economy. not the bussiness. if the people have means they create demand that WILL BE FILLED even if some bussinees go bellie up. others will jump right in to fill the need.
katrina is a mess because the bushies pulled out all the stops to help the bussinees get up and ruinning again.....but diod little to nothing for the people. the inevitable result? those bussiness took that money and LEFT. those that stayed eventually shuttered their doors becuase there was no one to buy what they were selling.
you can not build an economy from the top down. it must be supported from the bottom up. without the support at the bottom, it falls. without someone capable to spend cash for that they are selling, it doesnt matter what you sell, you fold up.
the addministraition should ahve pulled out all the stops for the PEOPLE. we have CLEARLY seen with our own eyes in the last few weeks that the govenmnet is capable of delivering staggering amounts of money to throw at a problem to fix it.
we have seen in the last few weeks that new orleans is still a mess, not for lack of ability or funds, but for a lack of political will to fix the problem.
and texas is just more proof they dont give a damn about the people, just the lobbiest dollars...err....bussiness.
the three situations, katrina, galveston, and the financial mess is a clear indicator of where this addministraitions priority lies. the financial sector problems and the governments response is a clear message to the people suffering from natural disasters, healthcare issues, SS issues, retirement issues, and even this financial mess that the people DO NOT MATTER.
you repubs still a bit thick headed yet or are you starting to see the light?
Shadow, I'd generally agree with your point of view, but I don't think you're looking at the big picture here. The victims of Ike are a much smaller group than the amount of people that would be affected by a major stock market crash, which is what the band-aid steps the Fed took this week are trying to prevent. Whether it works in the long run is a moot point: it had to be done. Our economy is teetering on the brink, and the government at this point is scrambling keep all the spinning plates up.
#13REDACTED,
Posted: Sep 18 2008 at 11:44 AM, Rating: Sub-Default, (Expand Post) =------------------------------------------------------------
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