Skip to main content

View Diary: Spiegel:"Wall Street's Central Values: Avarice and Greed." The next bailout, Wall Str. vs Main Str. (105 comments)

Comment Preferences

  •  How do you define "Repay"? (1+ / 0-)
    Recommended by:
    Sunspots

    Medicare is not repaid.  It is a social good and a worthwhile investment in and of itself.  It helps older people deal with the diseases/health care costs associated with advanced age.

    The money also has the secondary effect of compensating the medical industry and supporting millions of jobs and businesses and the tax receipts from those beneficiries are like a part payment "back."

    Why is your primary concern that Main Street "Repay" a "loan?"  Why can't it be an investment in education, work programs, infrastructure which never gets paid back in installments to a set figure but ripples with secondary financial recompense in growth of the tax base, while also decreasing the suffering of unemployment, mortgage defaults etc?

    I find your view to be very very narrow and a little cold.  Unlike the bankers that were bailed out by TARP, the beneficiaries of Main Street did not knowingly build and benefit from an inherently unstable/unworkable bubble  sham.  No banker would have starved in the cold had tarp not been passed, but many of us on Main Street are right on the brink - we deserve to live a minimal existence even if it comes at a 4% expense of the richest citizens ever to live on earth.  

    Blessed are the peacemakers, the poor, the meek and the sick. Message to Repug Fundies: "DO you really wonder "what would Jesus do?" I didn't think so.

    by 4CasandChlo on Wed Dec 12, 2012 at 10:47:59 AM PST

    [ Parent ]

    •  4Cas - I was drawing the political distinction (1+ / 0-)
      Recommended by:
      4CasandChlo

      If you have a TARP program and the CBO scores it in a way that it doesn't have a net cost to the government it is easy to find a political bipartisan consensus because there is no negative budget impact. It is easy for members of Congress to vote for something that has the potential to have a positive economic benefit at no net long term cost. There is no current political will in Congress to craft programs that would benefit Main St because all of them have an actual cost to the federal government making them much more difficult to pass. My comment was soley regarding the politics of the Wall St v Main St due to the structural elements of TARP, not on the societal merits of helping the people on Main St.

      "let's talk about that"

      by VClib on Wed Dec 12, 2012 at 10:58:19 AM PST

      [ Parent ]

      •  Thank you for clarifying (1+ / 0-)
        Recommended by:
        VClib

        Your explanation helps me understand that you were addressing a different point than me and we likely have the same umbrella values.

        I never, ever assume that I know more factually than the next guy.  I do believe that I have a moral and just sense of what is right and wrong.  On the first, I am happy to be corrected or redirected - and glad you responded, on the second . . . I am less comprimising but you do seem to have the same compassion.

        Blessed are the peacemakers, the poor, the meek and the sick. Message to Repug Fundies: "DO you really wonder "what would Jesus do?" I didn't think so.

        by 4CasandChlo on Wed Dec 12, 2012 at 11:03:57 AM PST

        [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site