Change is...

[BoyLovesBuzz]

"Change is a government that doesn't allow oil companies and banks to rip people off"

Barack Obama television commercial.


How have oil companies ripped people off? True they have made extrodinary profits, but no less than the market supports. How is that ripping people off any more the Verizon, Nintendo or General Mills?

How have banks ripped people off? True a lot of people have lost a lot of money in the past week or two. But when you buy stocks, bonds, shares in a 401K, etc, you assume the risks of the market, and you put your trust in others to make decisions on your behalf. If they make poor decisions then you have made a poor choice. But you haven't been ripped off. If banks were ripping people off, they would be going to jail, not bankrupt.


This guy is probably going to win, and it scares me.

 

[Took]

"Change is a government that doesn't allow oil companies and banks to rip people off"

Barack Obama television commercial.


How have oil companies ripped people off? True they have made extrodinary profits, but no less than the market supports. How is that ripping people off any more the Verizon, Nintendo or General Mills?

How have banks ripped people off? True a lot of people have lost a lot of money in the past week or two. But when you buy stocks, bonds, shares in a 401K, etc, you assume the risks of the market, and you put your trust in others to make decisions on your behalf. If they make poor decisions then you have made a poor choice. But you haven't been ripped off. If banks were ripping people off, they would be going to jail, not bankrupt.


This guy is probably going to win, and it scares me.

You assume that those who are running the oil companies and the banks are playing by the rules established by our government to ensure fairness and ethical behavior. Many believe this isn't happening and that our current admin. is doing nothing to prevent or stop the "rule breaking" or "rule bending." Many Wall St. leaders have said the same thing.

I'm not saying if this is true, only that this is the basis of the BO commercial.

 

[lillybug]

I'm pretty sure in that statement Obama was talking about all the deregulation that has gone on over the last decade that has led us to the current situation we are in. All of which Senator McCain supported.

Now whether you think it's the borrowers or the unregulated banks fault is all a matter of opinion. Either way, if those regulations were kept in place, we would not be in quite the situation we are in now. JMO

 

[cteddiesgirl]

Well, when the oil companies are making profits (after all the necessary money is paid out in salaries, taxes, etc) of multiple Billions in one quarter, yes, they are ripping us off.

As for the banks, yes, they are too. They are the ones giving out the credits cards and loans. When one month, your interest rate is 10.1% and the very next it's way up to 22% with you not having any late payments and it's supposed to be a fix rate, they're ripping you off. Not to mention all the other companies that are ripping us off.

Why do you think so many bills are becoming due on the weekends? Sundays especially? The banks aren't open on Sundays. They want your money sooner so they can earn more interest on it for themselves. And if your payment gets there on Monday, they can charge you $30+ in late fees and have a reason to jack up your rates. They are ripping us all off.

 

[ntsammy5]

..... getting very, very old. But so am I.

 

[BoyLovesBuzz]

Well, when the oil companies are making profits (after all the necessary money is paid out in salaries, taxes, etc) of multiple Billions in one quarter, yes, they are ripping us off.

As for the banks, yes, they are too. They are the ones giving out the credits cards and loans. When one month, your interest rate is 10.1% and the very next it's way up to 22% with you not having any late payments and it's supposed to be a fix rate, they're ripping you off. Not to mention all the other companies that are ripping us off.

Why do you think so many bills are becoming due on the weekends? Sundays especially? The banks aren't open on Sundays. They want your money sooner so they can earn more interest on it for themselves. And if your payment gets there on Monday, they can charge you $30+ in late fees and have a reason to jack up your rates. They are ripping us all off.

They are ripping you off, becuase they are making a profit? How much profit are they allowed to make in your world?

As for when your billing cycle ends, I think you need to blame the Romans for that.

 

[BoyLovesBuzz]

..... getting very, very old. But so am I.

...aren't we all?

 

[Cool-Beans]

Because all animals should be equal. Except the ones who are more equal...but the dumb animals won't figure that out until it is too late.

This has been done before. It is the same every time. You aren't going to change it.

The animals want what they want. Baa, baa, change, baa, baa.

 

[cteddiesgirl]

They are ripping you off, becuase they are making a profit? How much profit are they allowed to make in your world?

As for when your billing cycle ends, I think you need to blame the Romans for that.

A profit is fine. But billions in just one quarter is excessive. Especially for something that everyone has to have to survive in this world.

Billing cycle, bull. It was even discussed in the news and it was stated that they do it purposely to get more money out of you. I just find it funny that one month's cycle ends on the 16th when the very next month it ends on the 15th or 17th. Not the same day at all. They tend to change it purposely just to make it the date they want.

 

[freckles and boo]

They are ripping you off, becuase they are making a profit? How much profit are they allowed to make in your world?

Corporations still need to be good "citizens". Many aren't. The idea of a self-regulating free-market economy, as worshipped by many fiscal conservatives, is great but it runs contrary to human nature. Ultimately, industries that are integral to our economic survival need to be more responsible.

 

[BoyLovesBuzz]

A profit is fine. But billions in just one quarter is excessive. Especially for something that everyone has to have to survive in this world.

Billing cycle, bull. It was even discussed in the news and it was stated that they do it purposely to get more money out of you. I just find it funny that one month's cycle ends on the 16th when the very next month it ends on the 15th or 17th. Not the same day at all. They tend to change it purposely just to make it the date they want.

Fine Billions...excessive got it. Let say you own a 100 shares of Exxon. How much of your money are you willing to "give back" to the people.

And please lets don't go down the "everyone has to have it to survive" road. If I hear another, "my childis only safe in a carset that fits in an escalade" or "my husnbands a lumber jack and needs to drive a hummer", I'm gonna puke.

 

[BoyLovesBuzz]

Corporations still need to be good "citizens". Many aren't. The idea of a self-regulating free-market economy, as worshipped by many fiscal conservatives, is great but it runs contrary to human nature. Ultimately, industries that are integral to our economic survival need to be more responsible.

They are responsible to their shareholders.

 

[Amii]

A profit is fine. But billions in just one quarter is excessive. Especially for something that everyone has to have to survive in this world.

Who should decide where the fine line between a reasonible profit and an excessive profit is? I don't see any problem with the profits the oil companies are making. All business' profits are based on supply and demand. Any company is going to try to make as much profit as they can. That is why they are in buisness - to make money.

 

[freckles and boo]

They are responsible to their shareholders.

Yes, of course. I count on my investments to fund my retirement. HOWEVER, I still want the companies I invest in to be good corporate citizens. Reasonable profit should be expected. Raping the consumer is not good business. And the concept that businesses would not do anything that is not in their own best interest is seriously flawed.

 

[cteddiesgirl]

Fine Billions...excessive got it. Let say you own a 100 shares of Exxon. How much of your money are you willing to "give back" to the people.

And please lets don't go down the "everyone has to have it to survive" road. If I hear another, "my childis only safe in a carset that fits in an escalade" or "my husnbands a lumber jack and needs to drive a hummer", I'm gonna puke.

I believe in being a good citizen. Regardless if you are big business or not. I don't like big hummers or other BAT's. I'd prefer if they would make safer, smaller and more fuel efficient vehicles. I know a family of 5 with a big dog and a cat that uses 1 small-midsize car to go every where. My dad's car from 1990 gets better gas mileage than the majority of newer cars on the road today.

I don't own stock in oil because frankly, I can't afford it because big business won't pay me enough for my hard work and big business sucks it all down the drain from me having to buy the things I need. Like plain old soap.

Oil and gas is something everyone needs to survive in this world. Oil companies are not being responsible to anyone but themselves. And it mostly goes into the pockets of the highest employees.

It's the same thing as the big guys getting millions of dollars just to leave the companies that we are bailing out.

 

[rie'smom]

"Change is a government that doesn't allow oil companies and banks to rip people off"

Maybe it should read, "Change is a government that doesn't allow 1st term senators to be ranked 2nd highest in contributions from Fannie Mae and Freddie Mac."

 

[ntsammy5]

This is the problem with FACTS

On the Freddie and Fannie question, it as McCain said: Obama is No. 2 on the list, with $126,349, right after Sen. Chris Dodd, D-Conn., chairman of the Senate Banking Committee, who had $165,400.

But the list requires a few notes of explanation.

Corporations cannot give to candidates, so the center's list adds up contributions from Fannie and Freddie employees and their families. Obama has received a lot of money during his presidential campaign, though, and Fannie and Freddie don't make his list of top 20 companies. (The top three companies with employees donating to Obama are Goldman Sachs, University of California, and Citigroup, according to the center.)

The New York Times looked at contributions from Fannie and Freddie's boards of directors and lobbyists, who are technically not employees. That analysis found Fannie and Freddie-related contributors gave $116,000 to John McCain and his related committees, compared with $16,000 to Obama and his related committees.

They BOTH got money from Freddie & Fannie - it's all in how you report it. This money is a very, very, very small fraction of the money collected by eithee candidate. This kind of crap is being reported all over the place. All it does is confuse people and confuse the issues. Both parties are responsible and I'll vote for whichever one quits doing it first!

 

[mrsv98]

Who should decide where the fine line between a reasonible profit and an excessive profit is? I don't see any problem with the profits the oil companies are making. All business' profits are based on supply and demand. Any company is going to try to make as much profit as they can. That is why they are in buisness - to make money.

The theory of free markets is great if we actually had a free market. In truth, the oil companies have a monopoly. Do you think anyone could start a new company and give them the competition so vital to a free market economy? Not a chance.

 

[Master Mason]

the oil companies are making about 8% profit, which is very slim margins by any other industries standards. The reason it still goes into the billions is they are selling billions....

 

[rie'smom]

This is the problem with FACTS



They BOTH got money from Freddie & Fannie - it's all in how you report it. This money is a very, very, very small fraction of the money collected by eithee candidate. This kind of crap is being reported all over the place. All it does is confuse people and confuse the issues. Both parties are responsible and I'll vote for whichever one quits doing it first!

There is a world of difference between the Macs donating which they did in a large amt to Obama and contributions from private individuals.