Rant

Government bailouts, good for America??

Posted 35 months ago|7 comments|807 views

TAGS

Government , bailout , poll , unpopular

Written by

Byron Watson
Petal, MS

I found this poll on Siempre Solo's rant
It is hosted by Bob Livingston, and The Personal Liberty Digest

Government Bailouts...
Good for America?

Here are the results!

The Total Number of people who voted in this poll: 475449
1) Who is most to blame for America’s current economic crisis?
68% voted: Clinton Administration and the Democrats in Congress
12% voted: The Bush Administration
3% voted: Wall Street
14% voted: Banks and sub-prime lenders
2% voted: Real estate and mortgage professionals
0% voted: Investors
1% voted: Home buyers
2) Do you agree government bailouts are the answer to America’s financial crisis?
7% voted: Yes
88% voted: No
5% voted: Undecided
3) Do you believe the American taxpayers should have to foot the bill for our financial systems mistakes?
7% voted: Yes, we have to or we’ll end up in a prolonged recession or worse a depression.
22% voted: No, America is too far in debt already.
69% voted: Absolutely not, the American people should never be responsible for bailing out the private sector.
2% voted: Undecided
4) Do you believe the government bailouts will ultimately rescue our country's financial system?
8% voted: Yes
86% voted: No
6% voted: Undecided
5) Do you believe Barack Obama was the best choice to handle the country's future economic policy?
12% voted: Yes
85% voted: No
3% voted: Undecided

Thank you for your participation.

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COMMENTS

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Terryeo

35 months ago: Those are the opinions of the people who follow Bob Livingston, and The Personal Liberty Digest. Of the American population, a small portion.

Apparently the poll does is multiple choice and not write-in because each question has 3 possible answers that total 100%.

To take an example, the first question, "who is to blame for America’s current economic crisis?"

All three possible answers are flip answers and none of the address the force most responsible for America's current economic crisis.

The crisis was caused by poor ethics, people. Both lenders and lendees contributed. Those who borrowed and couldn't pay back demonstrated a lack of good sense. This could also be stated, "poor ethics".

Those who lent, knowing the hardship and risk of payback also demonstrated poor business sense. Or poor ethics.

Those who packaged loans together bought insurance on the package. Here, you have many mortgage loans in a single package. And then those people sold and bought the packages like stocks and bonds are bought and sold. Very poor business sense was demonstrated in this arena, also. Or you could say, poor ethics.

The poll's significance isn't much because it does not ask appropriate questions. Rather, it asks for pop answers.

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Rudi Stettner

Moderator

35 months ago: http://www.personalliberty.com

Interesting site

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Byron Watson
Petal, MS

35 months ago: The poor ethics involved were not of the people involved, but of the government's lowering the standards by which a mortgage could be obtained, and forcing lenders to issue a certain number of sub-prime loans. With that kind of pressure from the government, banks were forced to solicit sub-prime customers, and as a recompense, safeguards were set up to protect their interests, i.e. the aforenmentioned packaging of loans into securities. Many of the people who took out these sub-prime loans could not understand the wording in the contract, thanks to our state issued education levels, and the constant barrage of "look who's better off than me" shows on the State-Run media have influenced the poor into thinking they too could afford that big house on the hill. It's just human nature to want better than what you have, and the government played on that to create the financial crisis we are now in. As a result, the motto, "Equal housing for all", is about to take on a whole new meaning.

"let no crisis go to waste" (Wall Street investment banker and former Freddie Mac board member, Rahm Emanuel,now serving as Chief of Staff under Barrack Obama

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redstateguy

35 months ago: Yea, but the socialists will never believe it.

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The Cypress Gang

35 months ago: I'm guessing Joe B. found a calculator as he is now saying there won't be a second stimulus package as they screwed up on the first one.

http://voices.washingtonpost.com/44/2009/07/05/biden_acknowledges_administrat.html?hpid=topnews

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Jakarta99

35 months ago: I think as time goes by many people have investigated why we are in the financial situation we are in. There were many warning signs before it happened and the fault covers the spectrum from the individual to the President(s). I see bad policy decisions as far back as the Clinton administration and maybe even farther back. What I find disturbing is people with such a biased slant one way or the other that the truth will never sink in and without a clear perspective on the mistakes we may end up repeating them down the road. Thats my two cents anyway.

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Byron Watson
Petal, MS

35 months ago: It is no accident that there has never been a Utopian society on earth in its entire history, unless you want to include the Garden of Eden, and human nature didn't let that one last long. It is one of the lessons put forth by the geniuses/ordained of God/whatever you want to call them, any book that can last 3000 to 6000 years, depending on who you ask, has to be a work of genius. Utopia is not something you can legislate, force people into, or railroad into existence. Human nature is human nature. Part of that nature is wanting to help others do better, and part of that nature is greed, ensuring your own survival. The two are at odds, and until we find a way to provide everything for everyone, or give everyone a frontal lobotomy, Utopia is a fantasy.
We are repeating the mistakes made by others, trying to evolve into a Utopian society before we are capable of it. If you dive off a cliff before you grow wings, you can't help but go splat.

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