Bank failures... and frustration...
You know, it's amazing when I look back and think of how much my political views have changed in the last eight years. When Jr. was initially elected I was an ignorant college kid that thought "Republican conservatives are right with Jesus and a'ok with me..." I was such a simpleton. Nowadays I'm still a bit naive and overly trusting, but I'm making an effort to never blindly accept what I hear at face value. That said, when I saw the videos below I almost thought they were fake. Why? This is some scary shit folks... and we've got some tough times ahead.
Bank runs follow the failure of Indy-Mac bank
Yay greed! I love the idea of capitalism on paper, but in practice I feel it consistently falls short of my expectations for reasons like this. I swear I feel like a borderline socialist anymore, maybe I am and just don't know it yet. I just believe in power of working together and helping lift the weakest an least fortunate up. How is it that saying goes? You can judge the greatness of a nation by it's poorest citizens... or something like that. But I digress, that's a conversation for a different time. Seeing this movie I want to slap these people. Running to the bank to gobble up every penny you can get isn't going to help. In fact thats how the great depression snowballed out of control. YOU HAVE TO THINK AND ACT AS ONE if you want to survive hardships!!! But unfortunately that isn't a mentality we embrace in America.
Sure I understand it's their money and they should get what is rightfully theirs. But the thing is, ignorance abounds here. If you have less than 100,000 grand in the banks you're fine the fed is going to insure you so pulling out in a panic is stupid and dangerous. If you have more than 100,00 in there then I don't feel sorry for you either. What person in their right mind puts more money in a bank than the fed can insure when said bank has been publicly making loans to people with no real stipulations whatsoever. Once again Americans choose blind faith over thinking for themselves with bad consequences.
Why wasn't the fed watching this...? (Watch the part with bush at the tail end...)
This video infuriates me... I especially love the part where the anchor and financial advisor are talking and he asks "Why wasn't the government watching this?" and she says "Oh they were like... we see it, we don't see it" with her hands over her eyes. PEOPLE! This is the very root of what is wrong with our country. We don't watch our government or keep them in check so why should we act surprised when they fail to do the same? Our voter turnouts are still abysmal and we're more concerned with who lost on American Idol last night, the most recent football scores, or what other piece of useless consumer garbage we need to buy next than what our government is really up to. Open your eyes people and take our country back...
Bank runs follow the failure of Indy-Mac bank
Click to viewYay greed! I love the idea of capitalism on paper, but in practice I feel it consistently falls short of my expectations for reasons like this. I swear I feel like a borderline socialist anymore, maybe I am and just don't know it yet. I just believe in power of working together and helping lift the weakest an least fortunate up. How is it that saying goes? You can judge the greatness of a nation by it's poorest citizens... or something like that. But I digress, that's a conversation for a different time. Seeing this movie I want to slap these people. Running to the bank to gobble up every penny you can get isn't going to help. In fact thats how the great depression snowballed out of control. YOU HAVE TO THINK AND ACT AS ONE if you want to survive hardships!!! But unfortunately that isn't a mentality we embrace in America.
Sure I understand it's their money and they should get what is rightfully theirs. But the thing is, ignorance abounds here. If you have less than 100,000 grand in the banks you're fine the fed is going to insure you so pulling out in a panic is stupid and dangerous. If you have more than 100,00 in there then I don't feel sorry for you either. What person in their right mind puts more money in a bank than the fed can insure when said bank has been publicly making loans to people with no real stipulations whatsoever. Once again Americans choose blind faith over thinking for themselves with bad consequences.
Why wasn't the fed watching this...? (Watch the part with bush at the tail end...)
This video infuriates me... I especially love the part where the anchor and financial advisor are talking and he asks "Why wasn't the government watching this?" and she says "Oh they were like... we see it, we don't see it" with her hands over her eyes. PEOPLE! This is the very root of what is wrong with our country. We don't watch our government or keep them in check so why should we act surprised when they fail to do the same? Our voter turnouts are still abysmal and we're more concerned with who lost on American Idol last night, the most recent football scores, or what other piece of useless consumer garbage we need to buy next than what our government is really up to. Open your eyes people and take our country back...