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Posted on 12/21/2008 10:33:43 AM PST by rabscuttle385
Everywhere you look these days, someone is being rewarded for bad behavior.
Wall Street bankers, hedge fund managers, mortgage lenders, even homeowners who knowingly bought homes they couldn't afford -- all have abandoned the moral high ground and are now heading down to bailout town, where the fat cats dine.
With bailouts seemingly blowing in the wind, it's hard not to feel like a chump for being fiscally responsible.
Does it still pay to play by the rules?
Peter Schiff, president and chief global strategist of Connecticut-based brokerage firm Euro Pacific Capital, believes government policies are undermining people who behave well, while rewarding those who are irresponsible.
The government is sending out the wrong message by letting everyone involved in this financial folly -- lenders and borrowers alike -- escape the consequences of their actions, says Schiff.
"People say, 'Oh, this isn't fair that people have to suffer,'" he says. "Well, yes it is; they made their bed, now they have to lie in it."
(Excerpt) Read more at bankrate.com ...
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I just got a call from the RNC, asking for a donation. I told the kid on the phone to tell the RNC Chair that Bush’s bailout was the final straw. They were never getting another dime from me unless and until they began once again standing up for the free market.
The kid admitted he was hearing that a lot these days.
Freep-mail me to get on or off my pro-life and Catholic List:
Please ping me to note-worthy Pro-Life or Catholic threads, or other threads of interest.
Obama Says A Baby Is A Punishment
Obama: “If they make a mistake, I don’t want them punished with a baby.”
Marriage Penalty comes to mind.
As one of those who played by the rules, I have a small nest egg put away in savings and CD’s.
Printing money like it is going out of style will cause inflation ,which will steal that small nest egg as surely as any thief.
ping
I stopped getting RNC calls...I registered as an (I) last year.
Of COURSE it pays to play by the rules! You just haven’t been aware of what the REAL rules were...
Yea and could really give a rats ass
I’m glad they don’t have my phone number, but for those of you who are sick of their junk mail, I offer the following:
They finally stopped sending me their crap after I Freeped their buildings (310-320 First Street SE and 425 2nd ST NE) using the great DC chapter Freep techniques. It’s really as much fun freeping these RINOs as it is freeping Code Pinko or the Dems.
These RINO suits are in business for the money, to become Congressional staffers, and eventually, to hold office as they vote for pork, illegal immigrants, Sara Brady style gun control, etc.
One of the best digs I used: At Republican Senatorial Hqtrs (425 2nd ST), they were holding a Friday afternoon beer and b-b-q outside the building in a courtyard. From the sidestreet, I could see a bunch of placques on the cement wall (presumably for donors). I yelled “How many Wheaties box tops do I need to get one of those placques?” They were visibly uncomfortable—Ignore him! Say nothink to him! (Col Klink imitation)
When I got home on Monday, I wrote a letter with my name and address telling them I was the guy outside their offices the past Friday. I suggested that they REALLY might not want to send me their junkmail “surveys,” “charter member” certificates, etc. ad nauseum. I got their attention after at least three letters and three phone calls to them did not. Few things are more annoying than phone solicitations so I say to all—annoy them right back!
F ‘em!!!!!
I LOATHE the term “social engineering”
Engineering is, by definition, based on things that work.
For example, in the past I'm sure that my own reputation was considered much less that Madoff's.
I bet it's not today. And a good reputation is a prerequisite for good opportunity.
The Madoff's of the world can have their ill-gotton gains - I'll stick with my reputation.
It is too early to set up a mass meeting in Washington and drag out naked all the politicians. People are not ready at present. However, we can start thinking about it. How precisely do we move hundreds of thousands into DC? How to feed them etc. How do we deal with the rapid strike brigade the corrupt pols are bringing home to protect themselves? Lots of questions need answers. In short, people need to start thinking the unthinkable.
What a badly written article. The author sets up Schiff then offers three dissenting views, two of which actually support his claims if you follow consistent logic. The other guy just offers ‘I think’ and ‘I believe’ with no backup.
all those responsible people who have been biting the bullet and paying their mortgages, high interest rates and all, and haven’t been late, the govt. is basically giving the finger too. or people like me, who knew i couldn’t afford a house and have been renting.
it’s the same with the illegal immigrants. steal id, or use fake papers, given a get-out-of-jail-free pass. your ave. meth-head or criminal that happens to be a citizen and steals id or uses fake papers, you get time in jail.
i’m disgusted by it all.
unlike a lot of talking heads, homeowners share the responsibility for this mess. greediness all the way around.
We are a banana republic. Don’t kid yourselves otherwise. Our current economic model isn’t the Great Depression or Japan in the 90s, it’s modern day Argentina.
Oooooooooh, a signed form!
I'm sure people who deliberately signed legal mortgage loan docs they knew they couldn't meet are really going to be intimidated by a "I swear I'll play by the rules this time" signed form.
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