I'm Content to allow the Banks and Financial Institutions to Fail because:

Mike 03

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Mon Mar-02-09 07:01 PM
Original message

Poll question: I'm Content to allow the Banks and Financial Institutions to Fail because:

Edited on Mon Mar-02-09 07:06 PM by Mike 03

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DBoon

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Mon Mar-02-09 07:04 PM
Response to Original message

1. Other

<snark>

Because I am an anarchist and look forward to the establishment of self-governing workers' collectives existing outside of the oppressive capitalist state paradigm.

</snark>

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leftstreet

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Mon Mar-02-09 07:06 PM
Response to Original message

2. The Working Class has been FAILING for decades. Fuck the Ruling Class

Fuck their precious Capitalism

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stray cat

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Mon Mar-02-09 07:12 PM
Response to Reply #2

5. Do we kill ourselves to spite the wealthy

In a bad economy it is not the wealthy who suffer most - they have money they can afford to lose - my retired parents do not - nor do I.

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leftstreet

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Mon Mar-02-09 08:00 PM
Response to Reply #5

9. No, we take it back

They stole from us.

Your parents likely spent their working lives giving the results of their labor to the Predator Class.

Enough!

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TBF

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Mon Mar-02-09 08:12 PM
Response to Reply #9

12. Exactly, we nationalize the banks and back the FDIC accounts as

we always have. Investment banks are like casinos - they're on their own. Ditto for insurance companies.

There are many more of us than them.

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rug

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Mon Mar-02-09 07:11 PM
Response to Original message

3. They have already failed.

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jtrockville

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Mon Mar-02-09 08:04 PM
Response to Reply #3

11. ^ This. We need to cut our losses.

As it is now, stock prices of EVERYTHING are going down the tubes. If stop propping up failed banks and insurance companies, sure the stock in THOSE companies will go *poof*, but wouldn't stock prices of everything else recover, as long as there were a federally run loan and insurance program to take the place of "private" banks/insurers until new ones re-emerge?

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notesdev

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Mon Mar-02-09 07:11 PM
Response to Original message

4. Because it will cost less to rebuild them from scratch

than to try and make good on their outrageous gambles.

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Greyhound

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Mon Mar-02-09 07:20 PM
Response to Original message

6. ...if they, and by extension the system they represent, are allowed to die

it will severely damage the oligarchy and bring on another round of in-fighting among themselves, which, in turn will give the rest of us an opportunity to help ourselves.

We need a currency control system and an economy will always exist, what we don't need is a tiny uber-class that steals the fruits of everyone else's labor. Banks and financial institutions (I'd like you define these "institutions") create nothing and are not in any way necessary except to facilitate this theft.

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JuniperLea

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Mon Mar-02-09 07:23 PM
Response to Original message

7. The masses were forced in to the stock market

And should never have been there. The average American doesn't know squat about the stock market, to put him/her in charge of his/her own retirement portfolio like that was asking for a massive failure. Well, here it is on a grand scale. No need to fumble about with various stocks, they have self-failed.

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Irish Girl

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Mon Mar-02-09 07:57 PM
Response to Reply #7

8. yep, well-intentioned folk were clueless and trusted sharks with their hard earned money

All my friends in the stock market have no clue how they're even invested these past few years! I feel terrible because they're now in full panic mode but the average person on the street should have never been forced into investments they didn't understand.

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JuniperLea

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Mon Mar-02-09 08:02 PM
Response to Reply #8

10. We would have all been better off

With a 3% savings account... sadly.

Greed played a role too. When people saw such great gains in the market, they were all too eager to jump into the unknown.

We're all in the same boat now.

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