The government and tobacco
 

Been trying to figure out why the government has been trying to ban the e-cigarettes, or at least tax. This article is quite interesting. Decide for yourself.

http://redtape.msnbc.com/2008/11/ten-years-later.html

Securitization again, are people here totally insane?

I was thinking the same thing. Speculators damn near did this country in 1893. Looks like they're set for another go.

John

In a nutshell, it seems we're more addicted to deficit spending than we are to tobacco. Leave it to Wall St. to figure a way to capitalize on anyone's cash flow.

We need capital punishment for the thieves that run Wall Street.:rolleyes: That's right, relieve them of all of their capital.

Regards,

D-Ray

Geez.............

I'll agree with the first part of your statement, but I'm not so sure about the second part. No doubt Wall Street makes a dandy whipping boy, but the politicians handed them the keys to the kingdom.

From what I'm reading, securitization was created by HUD in the 70's after they were privatized (somewhat) by the Fed Gov in an effort to free up more money for Vietnam, along with the Great Society programs.

I suppose we can pin this one on Milhous and his administration, along with abolishing Bretton Woods and opening up China.

And it worked pretty good for awhile. The US lived pretty high on the hog, which is pretty easy to do when you're living on borrowed money.

Now it''s possible my data is wrong, or I may be misinterpreting it. And it is definitely incomplete.

So I'll move to smoking.

It's amazing a program sold to us by the uplifters as a way to protect the poor nicotine addicts from "Big Tobacco" not only screwed them big time, but is now screwing everyone else as well.

Now you can blame it on Wall Street, but it was the politicians who accepted 30 cents on the dollar so they could buy more whiskey before liquor store closed.

And if think this screwing is bad, just substitute "Cap and Trade" for "Tobacco Settlement". It's all about money, our money.

What this country needs is a bunch of politicians who have the guts not only to fire the bankers, but to go back to their constituents and say "We're broke, and you get a hot dog for supper."

Bad thing is, we needed them at least 40 years ago.

Chas

Actually, you're right with regard to my gratuitous Wall St. bashing. It's just so easy and fun, even if it is sometimes not fully justified.

With regard to the article's bemoaning that the states are only getting 30-40 cents on a dollar seems to show the author doesn't know a lot about compound interest. To wit, this passage puzzled me a bit.

Many states receive only 30 or 40 cents on the dollar. In a typical example, Wisconsin would have been entitled to about $5 billion in payments through 2025. Instead, it settled on one payment of $1.6 billion in 2001.

Did somebody expect Wall St. to lend Wisconsin $5 billion over 25 years with no interest?

You're correct, much like H&R Block fronting people their tax refunds for a fee.

I would imagine that even Wall Street treats the government better than H&R does it's clients...for one, they're not dealing with a bunch of cretins.

And then you have to calculate in inflation and uncertainty.

Now the old man who used to own the local lumber yard always claimed that the 8th Wonder of the World was compound interest.

If he were alive today, he would probably call the 9th Wonder Keynesian Economics.

God, I hope they can figure out a way to keep the music playing...did I just say I'm in favor of Cap and Trade???

If so, it's the fukkin you get for the fukkin you got.

Chas

Wall street does not do business they do schemes.