Financial Crunch in the world

[AhBeng]

Why do we bail out the rich? - US and Europe Auto makers, Citigroupm DBS

When the employees were making good money, good bonuses in the good years......we were making half their income. They enjoyed the holidays and nice restaurants and we had never had a holiday. Now they are in trouble.....and we suppose to bail them out????

Having half their income, we saved every penny. In our todays financial situation, my wife and me have zero liabilities because we are expecting the banks to crash. Our family present standing....

1. No mortgage - completely paid off the house.
2. No Credit Card balance - No Owings.
3. Cars are paid for, both wife and myself driving.
4. We have two rental suite in our basement - cash income of US$1000.
5. Cash in Bank = Approximately US$150,000.
6. Grow our own vegetables - spinach, chillies, potatoes, etc...

We have been preparing for this downfall of the world financial crisis for the last 10 years.....wonder why the big companies CEO's, Fund Managers, Vice Presidence,.....even LKY, LHL......could not see this?...and we as layman could predict the downfall...with our six sense.

We should have been the CEO's of the various companies asking for money.......or maybe run the city Singapore.....replace LKY and LHL

Anyway...I like to see what is going to happen next.

What do you think?.....Should we bail all this rich people?

 

[ForzaFerrari88]

Unfortunately you are the minority. The majority says YES-BAILOUT!!

 

[imperialarms]

how to go america its dream for many

 

[zhihau]

What do you think?.....Should we bail all this rich people?

i do not believe in bailing these rich people out. if we bail them out, it is akin to rewarding greedy and stupidity.

 

[lifeafter41]

Why do we bail out the rich? - US and Europe Auto makers, Citigroupm DBS

When the employees were making good money, good bonuses in the good years......we were making half their income. They enjoyed the holidays and nice restaurants and we had never had a holiday. Now they are in trouble.....and we suppose to bail them out????

Having half their income, we saved every penny. In our todays financial situation, my wife and me have zero liabilities because we are expecting the banks to crash. Our family present standing....

1. No mortgage - completely paid off the house.
2. No Credit Card balance - No Owings.
3. Cars are paid for, both wife and myself driving.
4. We have two rental suite in our basement - cash income of US$1000.
5. Cash in Bank = Approximately US$150,000.
6. Grow our own vegetables - spinach, chillies, potatoes, etc...

We have been preparing for this downfall of the world financial crisis for the last 10 years.....wonder why the big companies CEO's, Fund Managers, Vice Presidence,.....even LKY, LHL......could not see this?...and we as layman could predict the downfall...with our six sense.

We should have been the CEO's of the various companies asking for money.......or maybe run the city Singapore.....replace LKY and LHL

Anyway...I like to see what is going to happen next.

What do you think?.....Should we bail all this rich people?

Why is it in US$, or should it be in S$. What is a rental suite in our basement.

 

[rickws8437]

The issue here is not bailing out the idiots who caused these fiasco but the institutions itself. If nothing is being done it will create a chain reactional effect that will caused every other sectors to fail and collaspe of the world economy as we know it..Of course all those idiots have to be removed/replaced...

 

[po2wq]

... What do you think?.....Should we bail all this rich people?

4 dose automakers ... nt really bailing dose filthy rich ppl ler ... but saving ze jobs of hundreds of thousands ...

 

[AhBeng]

The issue here is not bailing out the idiots who caused these fiasco but the institutions itself. If nothing is being done it will create a chain reactional effect that will caused every other sectors to fail and collaspe of the world economy as we know it..Of course all those idiots have to be removed/replaced...

If bail them once...they will come back. That is the reason when some says that CEO did so much ro so little.......I always tell the people....it is not the CEO....it is employee who work hard and contributed their best.

No doubt it will affect a lot of people and will create a chain reaction....but I believe they are to be blamed........they did not save for the rainy days and always expected better years.

Several years ago..there was the computer jobs crash.............did anybody help them..........lots of people lost their jobs.......and in the end...it all worked out and created smarter IT people.

Maybe the automakers need to be taught a lesson.

No doubt this is the worse financial crisis.......but that's life!

Don't everybody agree?

 

[Agoraphobic]

1. In N-Am, there are lots of ppl earning $6/hr or $7/hr and pay tax and contribute to employment insurance. Why should their tax dollars be used to help workers at GM. Ford and Chrysler earning $40/hr?

2. If GM, Ford, and Chrysler cannot handle the business they're in, then they shouldn't be in the business they're in.

3. Already GM, Ford and Chrsyler models are priced below same class vehicles from Honda and Toyota, AND offered for sale/lease at 1% or less AND ppl still prefer Honda and Toyota AND Hyundai - that is the entire picture of the auto industry, why should the BIG THREE (big is a joke here isn't it?) be helped?

4. Has everyone forgotten the oil crisis in 1973? From that rose the Datsun 100A and killed GTOs. Ah, ppl have a short memory.

'Nuff said. Time for the big three to die. NASCAR will still be around, except that it will be dominated by Toyota.

Cheers!

 

[2lanu]

In yr 2006 something was really wrong as we seen stock market and property booming. With wealth management new industry also start making the bankers really good money. Easily they can got $10K per mth or more.

But the core of sudden boom is a problem. Micro economy showed signs that credit cards, bonds and REITs are doing biz based on the element of consumer debts, loans and future earning. All those CEOs label these are "healthy". Obviously they have to said that it is healthy otherwise they will not be in the job.

Even govt also like the picture painted and we see SG white scum start pegging their pay to the GDP of economy. Getting a ride on the coat tail of a false sign make belief by the greed.

 

[STUCK_HERE]

i do not believe in bailing these rich people out. if we bail them out, it is akin to rewarding greedy and stupidity.

Greed and stupidity rules today! Ask George Bush and LHL? No, don't ask them, they are too stupid to answer, look at them.

 

[2lanu]

Bush's allies had make billions$ when he was was President. Since 2001 till 2008, he kept fighting war at Iraq and Afghanistan. Looting on the oil in Iraq and expending weapon inventory of his allies.

 

[Neh_Neh_Pok]

Now its time for the 20 countries to discuss and plan on how and what shit they can come out with to help boost global market confidence again and help shorten the crisis period