Wtf? Who's next!!!!!

Polk user

http://directorblue.blogspot.com/2008/12/progressive-front-group-wants-45.html


Progressive communications group FreePress is lobbying President-Elect Obama for a $44 billion bailout aimed primarily at the telephone and cable monopolies. The money would ostensibly be used for various incentives to build out broadband connections to underserved areas such as rural locations.

FreePress calls the $50 billion in taxpayer money a "down payment on a digital future." But what it really appears to be is a duplicate set of payments to the telephone and cable companies for infrastructure they promised to build years ago.

Face

GTFOOH, enough hand outs already.

bobman1235

Who woulda thought that when you start "loaning" out tens and hundreds of billions of dollars to corporations that couldn't manage themselves that it would start to snowball. Couldn't have predicted that one.

ND13

I want mine. All I need to get out of trouble is about $75k tax free. Or $222k and I'm debt free.

Polk user

ND13 wrote: »

I want mine. All I need to get out of trouble is about $75k tax free. Or $222k and I'm debt free.

Incorporate yourself and STOP thinking small. The government will NEVER loan you $222K. Ask for 2.2 BILLION.

Then when you get it you can do whatever you want with it. There is no accountability.

http://apnews.myway.com/article/20081222/D957QL7O0.html

madmax

I'm just a little ticked off they are giving out free money which I have to pay back. These are not loans. There is no talk of percentage rate, method of paying back, length of loan etc. I may not even agree with a company they are giving my money to. For example, I bought a toyota rather than a GM because I'm sick of fixing them and didn't feel they deserve my business at this point. I certainly wouldn't have given any of the big banks my money just so they could buy out smaller banks. WTF?
madmax

Jstas

OK, now this one I'm against.

They can deal with it themselves. They have had decades to go about doing what they had to do and finding a way to develop and afford new technologies and it seems the ONLY one that has been proactive is Verizon with not only the cellular networks but the home networks in the way of FiOS and such. But again, even with the roll out states of Oregon and NJ for Verizon,they still aren't there and I KNOW that NJ has given them billions in tax cuts, incentives and government based infrastructure funding and they are going to miss their deadline anyway. Meanwhile, they suck down tens of billions in other tax breaks and incentives along with other fees that get tacked on to everybody's bills.

They have had enough funding shoveled their way and they screwed it up. Nobody else. If they want more funding, start licensing line sharing and network wholesaling to foster some more competitive and affordable pricing to the end user. It takes the individual customer burden off of Verizon and the other biggies and puts it in the hands of smaller, independent service providers. It cuts costs for Verizon and such and enables them to price and package network services more efficiently. It's worked all over Europe and Asia with much less open markets. It would positively THRIVE here if the telco and cable giants would stop being so short-sighted.

treitz3

Now this is just stupid. I hope Obama donkey punches them.

ND13

Polk user wrote: »

Incorporate yourself and STOP thinking small. The government will NEVER loan you $222K. Ask for 2.2 BILLION.

Then when you get it you can do whatever you want with it. There is no accountability.

http://apnews.myway.com/article/20081222/D957QL7O0.html

It only took 1 1/2 yrs for me to get into this shape. I lost over $80k equity in my home after Daimler sold off the Chrysler plant in my town and then got a staff infection that cost me about 120K due to no work and medical bill. I don't even have a car payment now and still can't make ends-meat.

Hopefully that'll change after the holidays, when all the dealers fire their useless mangers. I'm expecting a call next week for a Gen Manager job.

ND13

Since when did Comcast and the others not make a **** killing? After they bought Insight, here, my bill went up $45 and I lost some services.

brettw22

What industry is going to sue the Gov't for discrimination based on them not getting a handout/loan? I can't imagine that's off the table somehow......

rayslifecycle

these threads are always entertaining

Danny Tse

ND13 wrote: »

I want mine. All I need to get out of trouble is about $75k tax free. Or $222k and I'm debt free.

I'd like a bailout half as much as ND13's and I'd be debt free. Pleaseeeeeeeeee....with a cherry on top?

ND13

Danny Tse wrote: »

I'd like a bailout half as much as ND13's and I'd be debt free. Pleaseeeeeeeeee....with a cherry on top?

Mine was half that last year. That included the mortgage. I had virtually no revolving debt till I got sick.

Kex

ND13 wrote: »

Mine was half that last year. That included the mortgage. I had virtually no revolving debt till I got sick.

ND, I hope things improve for you a lot in 2009, maybe starting with that General Manager job?

As for the telecom/cable industry? Well, eff them IMO! They already charge us stuff for nothing, and no competition most of the time. When your bill goes up with some mystery charge or fee, you just have to shut up and pay or have no cable/phone service, since there are basically no options other than OTA TV ... and Skype telecom ... for which you still need broadband, so DSL from the phone company or high speed from cable ...

brettw22

Cell phone only for 10+ years........eff them.......

comfortablycurt

I'm next in line then. I would like a 50,000 dollar bailout. That would allow me to get a new car, clear my debt up, and make a nice down payment on a house.

This is ridiculous...

rayslifecycle

This is all happening right in front of our eyes -
check out this AP article on where our grandkids money went with the first bailout - they are sinking the dollar and our middle class with it........


Where'd the bailout money go? Shhhh, it's a secret
Dec 22, 9:52 AM (ET)
By MATT APUZZO


WASHINGTON (AP) - It's something any bank would demand to know before handing out a loan: Where's the money going?
But after receiving billions in aid from U.S. taxpayers, the nation's largest banks say they can't track exactly how they're spending the money or they simply refuse to discuss it.

"We've lent some of it. We've not lent some of it. We've not given any accounting of, 'Here's how we're doing it,'" said Thomas Kelly, a spokesman for JPMorgan Chase, which received $25 billion in emergency bailout money. "We have not disclosed that to the public. We're declining to."

The Associated Press contacted 21 banks that received at least $1 billion in government money and asked four questions: How much has been spent? What was it spent on? How much is being held in savings, and what's the plan for the rest?

None of the banks provided specific answers.

"We're not providing dollar-in, dollar-out tracking," said Barry Koling, a spokesman for Atlanta, Ga.-based SunTrust Banks Inc., which got $3.5 billion in taxpayer dollars.

Some banks said they simply didn't know where the money was going.
"We manage our capital in its aggregate," said Regions Financial Corp. (RF) spokesman Tim Deighton, who said the Birmingham, Ala.-based company is not tracking how it is spending the $3.5 billion it received as part of the financial bailout.

The answers highlight the secrecy surrounding the Troubled Asset Relief Program, which earmarked $700 billion - about the size of the Netherlands' economy - to help rescue the financial industry. The Treasury Department has been using the money to buy stock in U.S. banks, hoping that the sudden inflow of cash will get banks to start lending money.

There has been no accounting of how banks spend that money. Lawmakers summoned bank executives to Capitol Hill last month and implored them to lend the money - not to hoard it or spend it on corporate bonuses, junkets or to buy other banks. But there is no process in place to make sure that's happening and there are no consequences for banks who don't comply.

"It is entirely appropriate for the American people to know how their taxpayer dollars are being spent in private industry," said Elizabeth Warren, the top congressional watchdog overseeing the financial bailout.
But, at least for now, there's no way for taxpayers to find that out.

and there's so much more - for the full article - please click here:
http://apnews.myway.com/article/20081222/D957QL7O0.html

madmax

treitz3 wrote: »

Now this is just stupid. I hope Obama donkey punches them.

I can't quote him exactly but he said something like "we must do whatever is necessary today then worry about the national debt later". Lets face it, they want to run the debt up as far and as quickly as possible. They have already found they can do whatever they want without the general population being able to do anything about it. Once we are bankrupt we will fall in line with the one world government, we will have no choice.
madmax

petrym

I've heard that gov't bailouts are unconstitutional...

lemme look into this.

Systems

Polk user wrote: »

http://directorblue.blogspot.com/2008/12/progressive-front-group-wants-45.html


Progressive communications group FreePress is lobbying President-Elect Obama for a $44 billion bailout aimed primarily at the telephone and cable monopolies. The money would ostensibly be used for various incentives to build out broadband connections to underserved areas such as rural locations.

FreePress calls the $50 billion in taxpayer money a "down payment on a digital future." But what it really appears to be is a duplicate set of payments to the telephone and cable companies for infrastructure they promised to build years ago.

Sounds good to me:)

treitz3

I don't get it. This is a luxury and NOT a necessity. Blowing money on crap like this will do nothing but make it convenient for some folks unless I'm missing something. I mean, is our Government trying to bankrupt us?

Could someone..........anyone justify why this is a need? Anyone?

Danny Tse

Kex wrote: »

As for the telecom/cable industry? Well, eff them IMO!

As a government telecom analyst, I can tell you we are giving some telephone companies a subsidy that guaranteed them a 10% rate of return each year.

rayslifecycle

bailouts are unconstitutional - google Ron Paul and Bailout
He is a lonely voice in congress fighting for "We the People"

Can we do something about what is happening now?
For a successful Republic, we would need an educated populace as Thomas Jefferson stated..... however.....

in the words of Roger Waters - "We are watching TV"

comfortablycurt

treitz3 wrote: »

I don't get it. This is a luxury and NOT a necessity. Blowing money on crap like this will do nothing but make it convenient for some folks unless I'm missing something. I mean, is our Government trying to bankrupt us?

Could someone..........anyone justify why this is a need? Anyone?

That's what I'm trying to figure out. The bailout of the auto companies...ok...that's important. That's one of the primary industries in this country, and most people wouldn't be able to go without having a car.

Cable TV? I think most people would manage to get by without it. Get a damn antenna. Like you said...it's a luxury, not an essential part of your every day life.

No...no one can justify why this is essential...because it isn't.

I'm ready for my bailout now...when will I be getting it?

ND13

They'll take my DVR out of my cold dead hands I tell ya.

zingo

fatchowmein

Keiko wrote: »

I still wanna know who's gunna bail US out when all this is said and done? We're the ones paying for this BS. :mad:

Your children. It's all a big ponzi scheme with the tab being left for the next generation to pickup when they enter the workforce so go get busy making babies.

rayslifecycle

ND13 wrote: »

They'll take my DVR out of my cold dead hands I tell ya.

awesome

treitz3

I don't know what the F our elected officials are thinking with this kind of stuff. I, for one am flat out disgusted and outraged to the point of actually wanting to start a revolution.

First off, we have another 3-4 year bubble that's getting ready to burst. ALT-A loans and another type of tickler loan program(s) are already at a default rate of 30% and the loans haven't even shot up yet. Many of those loans are going to double and the loans are going to be resetting within the next 3-4 years. Since they haven't gone up yet, they are predicting a 70% default rate after all is said and done. We have only seen the first wave of the housing bubble.

That said, we are facing THE most expensive and biggest "baby boomer" generation ever in our history. All of the benefits that we owe them......not to mention social security that's "not there" will have to be payed out as well. Just this will make the bailouts seem small.

THEN another "important" elected official is talking about yet ANOTHER 700+billion dollar bailout once he gets in office. This is not good. Not good at all.

comfortablycurt

treitz3 wrote: »

I don't know what the F our elected officials are thinking with this kind of stuff. I, for one am flat out disgusted and outraged to the point of actually wanting to start a revolution.

First off, we have another 3-4 year bubble that's getting ready to burst. ALT-A loans and another type of tickler loan program(s) are already at a default rate of 30% and the loans haven't even shot up yet. Many of those loans are going to double and the loans are going to be resetting within the next 3-4 years. Since they haven't gone up yet, they are predicting a 70% default rate after all is said and done. We have only seen the first wave of the housing bubble.

That said, we are facing THE most expensive and biggest "baby boomer" generation ever in our history. All of the benefits that we owe them......not to mention social security that's "not there" will have to be payed out as well. Just this will make the bailouts seem small.

THEN another "important" elected official is talking about yet ANOTHER 700+billion dollar bailout once he gets in office. This is not good. Not good at all.

Thanks for putting it into the words that I didn't feel like typing out. I agree completely with this statement.