06.23.09

Not nearly that many

Posted in Islam at 1:21 pm by Administrator

A great Investors Business Daily editorial entitled “The Phantom Uninsured.”

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15 Comments »

  1. Mr. Dings said,

    June 23, 2009 at 3:05 pm

    You might as well go ahead and stop worrying about it. It’s a clear bust again this time around with too many crooks spoiling the broth. Bail-outs begun with Paulson and Co. at the end of the last Republican administration, set in motion a chain of crap that pretty much ensures that the winners win again. The scramble to pay back those short term loans Paulson gave them is evidence that they’re back in business, ready to enjoy the fruits of our labor again. It’s clear that there’s no $$ left. Oh, and one more thing, though. We’re still paying for the uninsured. One way or the other.

  2. Bentnotesmanhisself said,

    June 23, 2009 at 4:00 pm

    Think about the silliness of the position you’re taking. Did you want the bailed-out firms to not pay back the money? How does that help either their solvency or the government’s?

  3. Mr. Dings said,

    June 23, 2009 at 9:58 pm

    I don’t know what the contract was, but they should have been allowed to go under but we can’t blame Obama for that. Then there would be no bonuses. The little guy got hurt anyhow.

  4. Bentnotesmanhisself said,

    June 23, 2009 at 10:09 pm

    Now, how does the “little guy” (nice Dem term there) get hurt if these companies are still in business, serving customers – excuse me, little guys?
    Also, my question was not about what should have been done when bailouts were being considered, but why, since bailouts were enacted, these firms paying back the loans could be seen as some kind of bad thing. Do we not value prompt settling of accounts in this society?

  5. Mr.Dings said,

    June 24, 2009 at 2:58 am

    You’re a little guy. How’s your portfolio doin, if I may ask?

  6. Mr. Dings said,

    June 24, 2009 at 11:59 am

    Do anything you can squirrel out of or wriggle into big boys. This show’s all for you. Lead us to the promise land, but, of course, you’re in the big house on that hill. Because you must want it more.
    http://www.businessweek.com/investing/wall_street_news_blog/archives/2009/06/big_banks_pay_b.html?chan=top+news_top+news+index+-+temp_news+%2B+analysis

    But don’t expect big banks to stop feeding from the government trough. Remember, the TARP funds are only part of the federal aid they’ve been receiving. In fact, it’s a small portion of the help they’ve been getting from the U.S.—and the only one that comes with such onerous restrictions.

    For one, banks are aggressively issuing debt guaranteed by the Federal Deposit Insurance Corp., the banking regulator. Since late last year, banks have issued more than $200 billion in such bonds, according to research firm Dealogic. The rates on the government-backed bonds are much cheaper than could get by selling bonds on their own.

  7. Mr. Dings said,

    June 24, 2009 at 12:33 pm

    The meme of the moment: “Privatize profits, socialize risks.” Google it.

  8. Mr. Dings said,

    June 24, 2009 at 12:35 pm

    http://www.insurancecompanyrules.org/blog/entry/privatizing_profits_socializing_risk/

    The original $700 billion bailout package pushed by Treasury Secretary Henry Paulson and the Bush Administration gave money to Wall Street with no way for taxpayers to recoup their money. Many objected to such a crude giveaway to private interests.

    Yet that has been the dynamic in our health insurance system for decades. Private insurers fight to take on the least amount of risk, trying avoiding covering people who might get sick, leaving government with the bill for their care.

  9. Bentnotesmanhisself said,

    June 24, 2009 at 1:16 pm

    I found the money line in the lengthy article to which you link: “Insurance companies do all they can to avoid insuring anyone who might pose a risk to their bottom line.”
    There you have on full display the disdain for profit that is at the core of leftism.
    The only way these supposedly cost-efficient government programs like Medicare (which, by the way, is not solvent in an overall sense) can look like thriving enterprises is to operate with capital that they seized from us.
    I am not a little guy, by the way. Diminish yourself with such a self-image if you wish, but me, I’m extraordiarily powerful.

  10. Bentnotesmanhisself said,

    June 24, 2009 at 1:17 pm

    It is the Fed’s job to set prime interest rates.

  11. Mr. Dings said,

    June 24, 2009 at 1:47 pm

    Oh, you got you a big bankroll then, and, at the top, can commandeer? Don’t confuse this with possibility thinking. You just “don’t get” insurance, do you? Status quo all the way with you, generally, when it comes to big biz. Then you call any efforts at reform naughty names. Well, gee, we’re all extraordinarily powerful, but not always when it comes to the almighty dolla. I am disdaining the depredation and the degradation of a principle designed to spread the risk, not avoid it, for the benefit of the hot shot money men at the top. I am talking about insurance here, not making cars or other widgets. But those guys screwed up big time too, and we (extraordinarily powerful all) are paying for it.

  12. Mr. Dings said,

    June 24, 2009 at 1:53 pm

    Commandeering at the top, extraordinarily powerful people

    http://news.yahoo.com/s/ap/us_citigroup_compensation

    Ensuring compensation for employees by increasing salaries could be a move banks facing government restrictions take to avoid losing workers to competitors. Some banks that received government loans during the mushrooming credit crisis last fall have already paid back their debt, and are no longer subject to compensation oversight. That could allow them to offer lucrative deals to entice employees away from banks where restrictions are still in place.

  13. Mr. Dings said,

    June 24, 2009 at 2:00 pm

    Hey people, we all gave the extraordinarily powerful people……Government Payday Loans.

  14. Bentnotesmanhisself said,

    June 24, 2009 at 6:49 pm

    Why do you have a problem with whatever some banking executive’s compensation package is?
    It’s called the market. It’s called attracting the best talent you can to your team.
    You make it sound like no one ever collects on an insurance claim in this world.

  15. Mr.Dings said,

    June 24, 2009 at 9:03 pm

    We are emerging from a world wide near-meltdown. You mean there’s more talent out there other than the ones who made their banks and companies fail?

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