Rant

Germany's Luthansa Strike ends

Global economic collapse and unions still push for more anyhow.....evidently just HAVING a job isn't good enough for now while the whole world waits for something to change. Maybe the unions figure that if Germany can bail out all those countries that have had entitlement mentalities instead of letting them collapse on their own and scrape their own way back, they can afford to give them more money, too.

http://www.reuters.com/article/2012/09/07/germany-airlines-idUSL6E8K76I220120907

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Comments
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they saw it work here

for auto workers, so why not do it there?

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RE: Global economic collapse
GLOBAL economic collapse

and you expect Obama to fix it
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I didn't expect much

out of BO and I wasn't disappointed on that front......What I DID expect is what he's done....his very best to destroy what this country is all about.

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his very best to destroy what this country is all about.

It was destroyed when he "got it".

The rest of your life is going to be all gloom and doom, no matter who is President, no one can bring back your version of america.

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(NT) Gloom and doom only if BO gets back in
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I'm really getting sick

of hearing Obama and his supporters trying to blame everyone else for his failures. My grandad turned a mudhole off a swamp into a farm, but Obama would just complain about all the mud and end up doing nothing with it. That's the sort of person Obama seems to be, a do nothing. Obama wouldn't dig out some ponds to pull the water level down and raise the land up, he'd just tell everyone how he needed a new set of waders and complain when he got stuck in the mud. We need him out of there. Vision doesn't cut it, actions do.

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Irregardless of accuracy etc

at least your comparison or example this time is an example of what could be done better or is done wrong, not an unsupportable rave about someone being some form of devil incarnate.

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devil incarnate?
Shocked
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(NT) I think he was indirectly pointing at me lol
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ah

I was wondering how that fit anything I'd said.

I personally don't hate Obama. To me he's just the fool in the way of success. It's like waiting for the drunk to get out of the road so traffic can go past again. Instead the guy in the middle of the road wants to serenade us all on what a great fellow he believes he is, while really just in the way of everyone else. If that drunk was Obama, I'd be hoping he'd find the ditch to sleep it off in sooner rather than later. While it can be entertaining, one eventually tires of the show and just wants to get on down the road.

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in your case, I suspect you rather

the devil came to your door than Obama.

Or at least would consider them equal.

Your despite of Obama seems to equal anything in the past including the Spanish inquisition or the Salem witch trials.

I didn't vote for him, and see that changing this time.

Sadly, I will probably always have to choose between the lessor of three evils, the reactionary section of the right, the extremist of the fanactical left, and giving up and not voting for either.

There are no statesmen or reasonable politicians anymore.

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Blaming everyone else

I know, right? It's like blaming Bill Clinton for the economic collapse that happened 7 1/2 years after he left office.

I like your swamp analogy. Bush turned a fertile farm into a mudhole, and yet Obama is getting the heat for not turning it back into a fertile farm quickly enough. Anyone knows it takes a lot less time to destroy something than to rebuild it.

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Your last sentence describes BO's term quite nicely, TY

And you don't believe that Clinton's home loan program started this mess? How telling.......

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That program contributed

So did a lot of other things, most of which could have been stopped by the Bush Administration any time they wanted. Not only didn't they do it, but Romney wants to go back to that system. No thanks.

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it certainly contributed, but I'd go further

the selling of mortgages was a large a contributor or larger.

If loans were still made by banks and retained by the same bank, greater care would have been made, regardless of such programs.

Of course, it probably would have also made it harder for hard working but less prosperous people to buy a home, no matter if they would do everything they could to keep it.

Damn if you do, damn if you don't.

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now THAT I can agree with!

It was the CDO's that spaced the hurt out and let it bloom into more than it should have. CDO = Consolidated Debt Obligations, another word for bundling mortgages into packages, then selling them to REIT's (Real Estate Investment Trusts) among others, and thereby so extending who was actually supposed to be in charge of the mortgages (the banks were still supposed to be doing the servicing of the loans) that when the fertilizer hit the fan, all sides tried to pretend they weren't to blame. Meanwhile all those organizations who hadn't originated the loans and weren't even in the loan business per se, were left holding a lot of paper that began to become worth less and less each day, and mortgages not being paid meant no money coming in to them, and then the courts properly asking who actually owned the loans, so a huge mess clogged the system. The end result is people who wanted to make things good, or other arrangements couldn't, so eventually even those began to live in the homes without paying and putting money aside for when they had to leave since nothing could be accomplished by anyone.

While the Clinton years created the subprime loan system, the investment banks wanting a cut of that action, buying and bundling the mortages so they could issue securities on them, complicated the entire situation. The division that previously existed had not just been removed but was stomped on.

What could have been done to correct it? First end the CDO's and then pass some laws requiring the ones who originated or were servicing the loans to buy them back at current market values, or face losing their licenses. Those that couldn't or went broke to be shut down, the govt take such loans and then put someone in charge of the process themselves, hopefully with an "interest only" service period for those who wanted to keep their homes, till all could be sorted. It took way too long for anyone to do anything to try and clean up the mess and add to that the stalling and deliberate hiding of the CDO debt in overseas accounts rather than investment banks showing how badly they'd been hurt.

What's happening now? The administration and Federal Reserve are still playing the same game of goosing up the stock market, trying to keep a brave face on it all, while America decays at the foundation underneath it all.

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I can agree with most of that

in fact, maybe all.

I would have love to see something worked out for those that were willing to work to keep their homes. Empty homes did no one any good.

I can't understand banks foreclosing on a loan instead of renegioating when the market showed they could get only 60% to 70% of the amount owed if they sold it at all. I have to assume it was about tax laws and writeoffs, etc. Empty houses just seem to deteriote exponentially.

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It's like a bad poker game

where everyone feels he's got a losing hand, but keeps upping the call hoping someone else folds and he manages to make out inspite of all the bluffing going on around the table, nobody willing to call or fold.

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I had to look to be sure but....

...Lufthansa. I was fairly certain an "f" was missing, like in Luftwaffe . Wink

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