Comments on: The Uncle Sam All-Risk Insurance Company is Back in Action

By: Mr. ToughMoneyLove

Mr. ToughMoneyLove — Wed, 17 Sep 2008 13:47:54 +0000

Goldenrail – I will be posting about this soon but what you are witnessing are the death rattles of American capitalism. It used to be that in a capitalistic ecocomy, the winners thrived and the losers disappeared. Now, the losers become government owned entities and the winners pay the bills. The car companies are next in line. Socialism is not too far down the road from there.

By: goldenrail

goldenrail — Wed, 17 Sep 2008 13:36:43 +0000

Mr. ToughMoneyLove, I’m interested in your perspective on the new AIG Fed bail-out.

By: Mr. ToughMoneyLove

Mr. ToughMoneyLove — Mon, 15 Sep 2008 19:58:21 +0000

MGL – That’s an interesting comment because in most states (including ours) it’s illegal to build any permanent structure (even a fence) inside the 100 year flood plain adjacent to any regulated body of water, including the tiniest of rivers. Yet places like New Orleans and Galveston (which seem to now flood every 3-5 years) keep building away.

By: MoneyGrubbingLawyer

MoneyGrubbingLawyer — Mon, 15 Sep 2008 19:15:22 +0000

I couldn’t agree more.

Where I live, it’s not uncommon for certain areas to flood every few years and the government then step in to compensate everyone who lost their house. Sorry folks, they call it a flood plain for a reason, and you chose to live there.

By: PT

PT — Mon, 15 Sep 2008 01:08:40 +0000

I think our States (Louisiana and Texas) should do a better job of restricting what types of building should go on in these zones. Somehow the Fed should put the pressure on them to implement strict requirements.

By: goldenrail

goldenrail — Sun, 14 Sep 2008 21:32:01 +0000

“I’m curious, is anyone else upset by the increased role of the Uncle Sam All- Risk Insurance Company? ” – Yes.
Just as much as I was when I heard San Francisco was arguing for terrorism emergency funds from the Federal government for earthquake emergencies – ‘because an earthquake is a bigger threat to SF than terrorism.’ Yes, but you live there expecting an earthquake.

By: Matt @ Steadfast Finances

Matt @ Steadfast Finances — Sun, 14 Sep 2008 17:28:11 +0000

Preach on brother! I’d like to know when Uncle Sam was replaced with Everyone Who Screwed Up’s sugar daddy. Take some personal responsibility for Pete’s sake.

To prevent such stupidity from occurring on the corporate side, I’d like to see a mandatory repayment of all compensation from any board member and all other executives down to the director level. All wages, bonuses, and proceeds from stock options that were received for the previous 3 years after the government has to bail out a corporation b/c of their piss poor managerial skills.