I’m not much into politics, but man this burns my a**

[Halleywood]

And it’s all because of big government, why wouldn’t the banks say hell yeah we’ll take that deal. Can’t blame the lenders only, look at the colleges and what they are doing with tuition.

I think it's more complicated than to just blame the government. That's a given; our government is as corrupt as it gets, but that's too easy. The banks line our representatives pockets. What do you think that does to their thinking when it comes to bailouts; handouts; etc.? Then a former exec from the banks gets a cabinet position and on and on it goes.

 

[5MilesBack]

I can't disagree with you. But I will say "conservatives" are no better.

I think you're confusing or equating conservatives with Republicans. If I had to guess I'd say we only have "maybe" 10% conservatives in Congress.......MAYBE. It's probably even less than that. It's hard to make policy when you're the 10%.

 

[Halleywood]

Again........what's the common denominator in all that? Government involvement. And people keep voting for even more government involvement and less citizen control and ability to fight a tyrannical government. It's mindboggling.

It's just too easy to simply blame the government and it lets actual individuals off the hook. You can't throw "the government" in jail for crimes. $hit, representatives can legally lie and can't be held accountable.

 

[Halleywood]

I think you're confusing or equating conservatives with Republicans. If I had to guess I'd say we only have "maybe" 10% conservatives in Congress.

Can you actually name a true conservative in congress? They don't exist.

 

[tdhanses]

I think it's more complicated than to just blame the government. That's a given; our government is as corrupt as it gets, but that's too easy. The banks line our representatives pockets. What do you think that does to their thinking when it comes to bailouts; handouts; etc.? Then a former exec from the banks gets a cabinet position and on and on it goes.

Yup I would say 99% of politicians local and federal either are corrupt or become corrupt. I think many are freaked out that this will come to bite them with trump at the helm. He doesn’t care about making money now, unlike all other politicians. He donates his salary, yet we have people in this country that will vote in an AOC who is as clueless and ignorant as it gets and will destroy our country.

 

[JG358]

I think you're confusing or equating conservatives with Republicans. If I had to guess I'd say we only have "maybe" 10% conservatives in Congress.

10%? I dont even think its that high.

 

[5MilesBack]

I think it's more complicated than to just blame the government.

Of course. You don't hand a dog a chew toy and then blame him for chewing it up. He's just doing what he does. It's the citizens (and non-citizens) that elected them that are to blame, and then not holding them accountable.

 

[Halleywood]

And it’s all because of big government, why wouldn’t the banks say hell yeah we’ll take that deal. Can’t blame the lenders only, look at the colleges and what they are doing with tuition.

I think lenders get a pass far too often. When everyone places all the blame on "the government", the banks get to skate. Colleges are the same way.

 

[5MilesBack]

I think lenders get a pass far too often. When everyone places all the blame on "the government", the banks get to skate. Colleges are the same way.

Ya, except in the case of the student loan fiasco, it is the government that hands out the money. And they hand it out like it's candy, without any of the traditional safeguards of ensuring that it can be paid back. Many of these student loans are larger than a mortgage.......all with a signature guarantee of the borrower. SMH

 

[Halleywood]

Of course. You don't hand a dog a chew toy and then blame him for chewing it up. He's just doing what he does. It's the citizens (and non-citizens) that elected them that are to blame, and then not holding them accountable.

Unfortunately that's correct. The "well you allowed it to happen" mentality in government is terrible. It's not about public service and doing what's best. I think there will come a day when "we" rise up to take back what's left of the country. Unfortunately i think it is going to get much worse before it happens.

 

[5MilesBack]

The biggest problem is that there are many citizens and illegals that actually want and expect that government control over us, and everything else. That's why there are so few conservatives left in the world. People find it easier to just sit down and wait for help, instead of forging ahead on their own.

 

[tdhanses]

The biggest problem is that there are many citizens and illegals that actually want and expect that government control over us, and everything else. That's why there are so few conservatives left in the world. People find it easier to just sit down and wait for help, instead of forging ahead on their own.

Yet they find the time to protest everything!

 

[LostArra]

Ya, except in the case of the student loan fiasco, it is the government that hands out the money. And they hand it out like it's candy, without any of the traditional safeguards of ensuring that it can be paid back. Many of these student loans are larger than a mortgage.......all with a signature guarantee of the borrower. SMH

Agree 100% and then using that loan to pay for a grossly overpriced product (tuition) that has no price control incentive or even an inherent value.

 

[IdahoElk]

Ya, except in the case of the student loan fiasco, it is the government that hands out the money. And they hand it out like it's candy, without any of the traditional safeguards of ensuring that it can be paid back. Many of these student loans are larger than a mortgage.......all with a signature guarantee of the borrower. SMH

I agree^ The economy is debt driven and only exists if banks or the government can get more people enslaved to the system, of course they give out student loans and mortgages like they're candy.

 

[Beendare]

Good to see that some other folks were as disturbed by this story as me. I new about some of Singer’s shady tactics in tge Cabelas deal (and many of his previous predatory moves) but I didn’t fully understand the repercussions to the community. Totally disgusting. Even more than the back story of Cabelas.



I get what your saying and I agree to a point but this particular case, and seemingly Paul Singer’s MO, one of those cases where the free market is being abused. I hope you’d agree that insider trading is wrong and that regulation to prevent this unfair practice is necessary. I feel like this vulture capitalism is similarly in need of some regulation. I’ve got not a thing against hedge funds. I may or may not have some money in a fund; but there’s a difference between responsible investment and vulture capitalism. Just because you CAN do something doesn’t mean you SHOULD do it. I would never allow Elliot to manage any of my money despite some of their returns because I disagree with their methods; despite being 100% legal under current law.

It’s one thing to see a failing company and figuring out how to make a profit buying it and selling parts off. It’s a whole other ball of wax to take a perfectly healthy company, force a sale to drive up the stock price artificially and then sell it off for a huge profit while leaving so many employees reeling in the wake. No sir, that’s not right even if it’s legal.

Vulture Capitalism? By your definition, all capitalism can be classified as vulture capitalism. How many small sporting good stores did Cabelas put under while building a better company?

Look at what actually happened.
1) The Cabela brothers had all of their net worth wrapped up a business they built from nothing, so they sold a big part of their ownership to diversify their assets.

2) This HF saw a way of combining efficiencies, wrapping it up in a package and some other entity bought it for more $$. Since when is selling a business for more $$ a crime?

Where does the vulture part come in? When someone invents a better mousetrap that cannibalizes the old trap? When someone invents a better process...or a better ANYTHING.....its reasonable to think they should profit from it.

Seems to me that some here only have a problem when that profit happens to be HUGE $$$....the small time guys are OK.

The key concept here....why would anyone bother with all of this under another system such as Communism if there is no benefit?

The answer is, these other systems stifle innovation. Why bother risking your money/investment...if there is little possible gain?

Why work when you are getting paid anyway...let the other guy do it.

.....

 

[Beendare]

Someone mentioned; Predatory student loans....watch MSNBC much?

Who twisted their arm to spend $250k on a Archeology degree that pays $30k a year?

As they say in Raiders of the lost arc...."You chose poorly"

IMO, Just another case of blaming someone else for their own poor choices.

A friends kid really wanted to get into the school his brother got into for engineering...but the only way he could do that with his poor grades was to specialize in "Parks and Recreation"...read; low paying occupation.

...

 

[Beendare]

Communism;
Heres an interesting case study from my buddies dad. He was a project manager for Bechtel in the early 70's slated to manage an oil refinery build in the USSR [Russia] Bechtel would provide all of the know how, engineers and foremen...but they were required to use a Russian workforce- 300 laborers- all paid whether they work or not.

On any given day they would have between 200-250 of the 300 men show up to work. After lunch there were usually 75-100 men on the job...as the rest of the labor force was at the bar drinking or just went home. Why work when you are getting paid anyway...let the other guy do it.....

The project got so far behind Bechtel finally bagged it....THATS Communism.

....

 

[Halleywood]

The key concept here....why would anyone bother with all of this under another system such as Communism if there is no benefit?

.....

China is communist right? Well look at all the huge multinational companies operating quite profitably over there. Big benefits of operating under communism. Very cheap labor being a big one.

 

[Halleywood]

Someone mentioned; Predatory student loans....watch MSNBC much?

Who twisted their arm to spend $250k on a Archeology degree that pays $30k a year?

As they say in Raiders of the lost arc...."You chose poorly"

IMO, Just another case of blaming someone else for their own poor choices.

A friends kid really wanted to get into the school his brother got into for engineering...but the only way he could do that with his poor grades was to specialize in "Parks and Recreation"...read; low paying occupation.

...

Of course the kids...KIDS are ultimately responsible for their own choices. But when all they hear from their boomer parents, the colleges, the media, etc. is 'do whatever you want to do'. What do you expect to happen? When my young kids act like little turds at home...you know who i blame...myself because I let them get away with it once without discipline.

 

[Beendare]

China is communist right? Well look at all the huge multinational companies operating quite profitably over there. Big benefits of operating under communism. Very cheap labor being a big one.

You should fact check your comment....and see the actual....and who is profiting.

There are big money Oligarch's in Russia too....so its a good system?
_______

To your other comment about Kids....I said "Poor choices" ...I wasn't blaming it all on the kids....

...