Mr President didn't print the money, Mr. Fed, that central bank privately owned by the banking elite, yes, that president, the same group now pushing hard for Romney to get it. They really did well under Republican leadership, everybody did, for what trickles down rises up, of course...
It's always easier to destroy then to rebuild. I can bring down a 50 story building in 30 seconds flat, but let me try to rebuild that building in 30 seconds flat. When it's your job to rebuild what the previous administration brought down in 30 seconds flat, then you shouldn't expect it to be rebuilt in 30 seconds flat.
You guys really think without the preventative approach the current administration had followed, we would be were we are right now? We would be at the bottom of the cliff bleeding out! Do you think businesses were going to create new jobs and look to expand while the government sat back and watched while the top most auto manufactures crashed and burned, while the top most banks in the country were in cinders? I am a small business, I am gonna want to hire 10 more people when the largest companies that make up the overall economy are crashing down around me? While the banks I hope to finance my loans are crashing down around me? While all my potential customers are making a run on the remaining banks to store their savings in their mattress? While the country's leadership sits back, and hopes that the economic fairies restore the balance? These are the scenarios we'd be looking at without preventative action to specifically avoid that. Catastrophe averted, now let's tackle the next issues down the list.
For better or worst, we've set down a path that we need to see through. I think the worst thing that can happen right now to the country and economy is to have a change in the administration with a drastically different approach, and whose foremost goal is to overturn this, that, and the other, erase the white board and start from scratch. It will create more upheaval in overall then all the rhetoric and ideology they can ever spew in any campaign.
Last edited by monpere; October 9th, 2012 at 12:22 PM.
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TARP was QE1. That was Bush/Paulson's transfer of close to a trillion doallrs from your future taxes to the private sector 'INVESTMENT' banks. The real insult here is the way it was done, ie, with blank cheques. The bankers used that money to trade OTC derivatives and in the subsequent years made off with record profits and paid them selves record bonuses. Did you get that 'RECORD' part. Are you not disgusted and reviled by that?
Every failed bank should have been given a choice to sell itself to the government for a buck or auction itself off to the highest bidder. The public that paid for the bailout should have gotten their fair share of the profits. But it didn't work out that way did it? That's how the Republican's work, always looking out for number one. They rescued their crony friends on Wall Street with your money, after they deregulated it, which helped cause it.
Now Romney, a fat cat banker, with support of Goldman and the entire IB community want's the helm back. First order of business will be to repeal the new regulations and go back to business as usual for Wall Street, like nothing ever happened. It's just stunning how people have already forgotten what we were left with after the last Republican administration. And no, it's not different this time. WTFU
Might want to do a little research rather than believing talking heads - Almost all TARP funds have been recovered as of August 2012. Likely the gov't will turn a profit and it won't cost "future taxpayers" anything.
The new QE is another backdoor bailout for banks - getting those toxic assets that their bad management decisions put onto their balance sheets bought up by the Fed (and probably at inflated prices too...).
ZIRP is ongoing bailout for banks. Maybe if the Fed was audited again we can see what else is going on in "aid" to banks.
That is Socialism with a capital "S" - and probably with bigger sums of money than the other spending the media whines about to take your attention off it.
Yes, some of the Bush blaming is old and maybe it should end - except when you don't pay off what you charged on your credit card (like two wars) - then does the credit card company say "Hey, that's old. Forget it." ?