General Discussion

Nuclear Unicorn

(19,497 posts) Thu Jul 3, 2014, 12:56 PM Jul 2014

Since the DOW is doing so well...

It shows Wall Street has weathered the worst storm in nearly a century. It did so because the bad assets based on bad business decisions gutted their capital. The government, for good or for ill, stepped in with taxpayer money to shore-up their companies so as not to allow a massive collapse that would ripple outward into the rest of the economy hurting companies that were tied to but had no part in the earlier malfeasance.

That money was a loan, not a gift. It wasn't for them, it was for us.

Where's our money?

15 replies

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Highlight:

Since the DOW is doing so well... (Original Post) Nuclear Unicorn Jul 2014 OP

Your money is in the pockets of the 1% of course CountAllVotes Jul 2014 #1

It's theft. Bottom line. Nuclear Unicorn Jul 2014 #3

Middle class people are unable to invest in the stock market? Nye Bevan Jul 2014 #6

Many middle class people do not invest in Wall Street CountAllVotes Jul 2014 #7

Nobody should be investing "everything they've got" in stocks. Nye Bevan Jul 2014 #11

Good question... KansDem Jul 2014 #2

Paid back, and then some. Nye Bevan Jul 2014 #4

"Paid back" in the form of tax cuts AgingAmerican Jul 2014 #9

No one put any requirements on those receiving the money abelenkpe Jul 2014 #5

They sent it directly to the Caymans AgingAmerican Jul 2014 #8

My 401(k) has made around $211,000 since the bailout was enacted 3 Oct 2008. n/t ieoeja Jul 2014 #10

Um, what? Dreamer Tatum Jul 2014 #12

. Nuclear Unicorn Jul 2014 #13

How cute is it that you think things work *that* way! Duke Newcombe Jul 2014 #14

I'll wager no small amount of the dollars the corps gained at our expense went to the Nuclear Unicorn Jul 2014 #15

CountAllVotes

(20,875 posts)

1. Your money is in the pockets of the 1% of course

Reply to Nuclear Unicorn (Original post)

Thu Jul 3, 2014, 01:03 PM

Jul 2014

Where else could it go?

If you invested $20K, you'd have some profits yes, but nothing like the profits you would be seeing if you were a member of the 1%.

If you are not a member of the 1%, YOU are basically screwed with interest pegged at zero percent!

The middle/lower class has been left behind AS USUAL!

Nuclear Unicorn

(19,497 posts)

3. It's theft. Bottom line.

Reply to CountAllVotes (Reply #1)

Thu Jul 3, 2014, 01:07 PM

Jul 2014

I don't want something the corps can pass off to the consumer in higher prices, I want our money back. I want liens on assets. Something.

It's our money.

Nye Bevan

(25,406 posts)

6. Middle class people are unable to invest in the stock market?

Reply to CountAllVotes (Reply #1)

Thu Jul 3, 2014, 01:10 PM

Jul 2014

That's news to me.

CountAllVotes

(20,875 posts)

7. Many middle class people do not invest in Wall Street

Reply to Nye Bevan (Reply #6)

Thu Jul 3, 2014, 01:23 PM

Jul 2014

It is a rip-off for most people that cannot afford to put everything they have in a manipulated market that is making lots of $$$ for some.

As for the rest of "us", we get nothing, nothing at all after we pay those fees, etc. It ends up a wash in the end unless you have lots of bucks to toss around which most middle class/lower class people simply do not have. People with kids, etc. can't afford to lose everything they've got investing in such a crooked joke.

Nye Bevan

(25,406 posts)

11. Nobody should be investing "everything they've got" in stocks.

Reply to CountAllVotes (Reply #7)

Thu Jul 3, 2014, 02:57 PM

Jul 2014

And as for fees, may I suggest the Vanguard index funds, whose fees are of the order of 0.1%. If you had invested $1000 in the Vanguard 500 index fund 1 year ago, you would have $1245.50 today, even after the fee is taken into account. And $1000 invested 5 years ago would have become $2367.36 today.

KansDem

(28,498 posts)

2. Good question...

Reply to Nuclear Unicorn (Original post)

Thu Jul 3, 2014, 01:06 PM

Jul 2014

"Where's our money?"

We were lied to. Everything that was said to have been done on our behalf was really a smokescreen for transferring more wealth to the wealthy.

This picture says it all:

Nye Bevan

(25,406 posts)

4. Paid back, and then some.

Reply to Nuclear Unicorn (Original post)

Thu Jul 3, 2014, 01:09 PM

Jul 2014

Unless of course you think President Obama is a liar.

Speaking before a crowd of about 6,000 voters in Manchester, N.H., Obama assured supporters that of all the fiscal issues facing the nation, the bank bailouts are no longer among them.

"We got back every dime used to rescue the banks," he told the crowd gathered Oct. 18 in Victory Park. "We made that happen."

.....

Not all of the banks who received TARP money have repaid the loans. In fact, 400-plus banks are still on the government’s red list -- more than have completed the payments -- and, according to the GAO, some may never pay the money back.

But, the fact remains, due to interest, dividends and other revenue streams, the government has received more money back ($266.7 billion, according to the Treasury) than it handed out to banks under the bailout law ($245.2 billion). We rate this claim Mostly True.

http://www.politifact.com/new-hampshire/statements/2012/oct/25/barack-obama/barack-obama-says-banks-paid-back-all-federal-bail/

AgingAmerican

(12,958 posts)

9. "Paid back" in the form of tax cuts

Reply to Nye Bevan (Reply #4)

Thu Jul 3, 2014, 01:32 PM

Jul 2014

...and low cost tax payer funded 'loans'.

http://money.cnn.com/news/storysupplement/economy/bailouttracker/

abelenkpe

(9,933 posts)

5. No one put any requirements on those receiving the money

Reply to Nuclear Unicorn (Original post)

Thu Jul 3, 2014, 01:09 PM

Jul 2014

The government hoped they would use it to continue lending, but it wasn't a condition, wasn't required. Heck, we didn't even require companies to hire US workers with stimulus money. We're never going to see that money because we never made any demands.