"Convenient" Capitalism

[Mr. Shaman]

"On the surface, JPMorgan Chase’s first quarter 2009 earnings look auspicious, reversing the red ink of the last few quarters and exceeding what was expected by investors.

But a simple read-through of the press release paints a different picture.

The bank made good profits on its bond-trading, a business that is highly volatile and unpredictable, while its credit card write-offs soared. And management admitted that it expects further significant write-offs and huge operating losses in its credit card business.

Today the disastrously managed credit card business threatens to be a major impediment in the economic recovery because the only way the banks can extricate themselves from the mess they have created is literally to shut down the industry. They may not view it that way, but their customers do. When you punish your best customers, the ones who pay on time and pay far over the monthly minimum, by (1) forcing them to pay higher interest rates, despite the lowest interest rates in the country in over fifty years, (2) increasing their monthly payments (3) shortening the payment terms and (4) reducing or even cancelling their credit lines, you are saying you don’t want to be in the business.

The excuse the banks are using is that the economy is difficult and everyone has to share in the pain. But who was sharing in the profit$ for all those years when the business was the most profitable one for the banks? Nobody but the banks reaped those rewards. They should now suffer the losses on their own."​

Maybe the should reconsider their "Welcome, Freshman!!"-offers, on college-campuses, each year!​

 

[Andy]

Maybe the should reconsider their "Welcome, Freshman!!"-offers, on college-campuses, each year!​

The problem though is, we never wanted to give them tax payer money. That's not a fault of capitalism, because capitalism says if you fail, it's on you. It's idiots on your side who gave them tax money, and that is called "socialism". Why is this so hard for you? You should have learned this in middle school. Aren't you out of middle school yet?

 

[Mr. Shaman]

The problem though is, we never wanted to give them tax payer money.

Yeah....that's a problem, alright....when you forget to verbalize your dissension.

After all....what would the neighbors have said.

​

 

[GenSeneca]

Yeah....that's a problem, alright....when you forget to verbalize your dissension.

After all....what would the neighbors have said.

​

Unlike you progressives who take to rioting in the streets and throwing temper tantrums on television to get your way... We call our congressmen and let them know how we expect them to vote.

The congressmen reported 300 calls against the bailouts for every 1 in support of them. They didn't listen, just like they didn't listen when the same thing happened with immigration, the stimulus and several other policy items that are increasingly leveraging the future of generations not yet born.

Now we are mad as hell and we're not going to take this anymore.

 

[Mr. Shaman]

Unlike you progressives who take to rioting in the streets and throwing temper tantrums on television to get your way... We call our congressmen and let them know how we expect them to vote.

Yeah....it's quite-obvious how much serious arm-twisting you folks did, over the last-eight-years.



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BTW....."Howard Beale"'s experience is a great example of the FAUX-Noise-agenda:infotainment, for ratings-sake.

GREAT, FREAKIN' MOVIE!!!!!!!!!!!!!!!!!! ​