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Lol, yes that's because Memphisguy had just explained why you were wrong.
Specifically:
"I disagree with the bailouts of wall street, but it happened, it was bipartisan, and no one party has a claim on its ignorance.
To boot, your reading comprehension is lacking. I said Obama bailed wall street out, and the poster agreed with me, not refuted me. But don't let me stop you saying how smart you are. So you still have nothing.
I disagree with the bailouts of wall street, but it happened, it was bipartisan, and no one party has a claim on its ignorance.
The reason the President is having to talk about closing tax loopholes and subsidies is because of 8 years of war that was unfunded. Remember, the budget was balanced until a Republican President and a Republican Congress were in power.
No you don't get it. If Obama quit giving money away, they would not worry about having to get more taxes. How much clearer can I get?
No you don't get it. If Obama quit giving money away, they would not worry about having to get more taxes. How much clearer can I get?
1) Congress gives money away, not Obama.
2) The stimulus was nearly entirely loans, not giveaways.
3) Most of that has been repaid.
4) Many of the loans made a profit.
But that all said, the way the banks were rescued was horrific and an embarassment. As Krugman and many others said, it should have been done a la Sweden.
That these Wall St. firms are back at their old tricks with practically no useful new regulation or rules of the road, after having been bailed out, is disgusting and reprehensible. And asking for another financial crisis.
1) Congress gives money away, not Obama.
2) The stimulus was nearly entirely loans, not giveaways.
3) Most of that has been repaid.
4) Many of the loans made a profit.
But that all said, the way the banks were rescued was horrific and an embarassment. As Krugman and many others said, it should have been done a la Sweden.
That these Wall St. firms are back at their old tricks with practically no useful new regulation or rules of the road, after having been bailed out, is disgusting and reprehensible. And asking for another financial crisis.
Strictly speaking that is true, although the President isn't a bystander in the process. He submits a budget to Congress. The process starts with him.
I'm not sure that Wall Street is up to their old tricks. In fact they ave been criticized for NOT lending money.
Strictly speaking that is true, although the President isn't a bystander in the process. He submits a budget to Congress. The process starts with him.
Good point. But when it came to the bailouts (an unusual case, to say the least), everyone was in it together. President, congressional Repubs and Democrats. Because the alternative was a complete freezeup of the financial system and layoffs in the many millions as companies weren't able to turn over commercial paper to make payroll.
In retrospect the right thing to do was what Christine Lagard pointed out, which is to remember that the financial system is there to serve the real productive economy, not to bleed it dry, as it did. And therefore, to put in rules of the road that keep it from doing so.
I'm not sure that Wall Street is up to their old tricks. In fact they ave been criticized for NOT lending money.
Well, "Wall St". typically refers to the investment banks, brokerages, private equity, etc, not the commercial banks.
I agree about the commercial banks though. They have been criticized for not lending, and I don't think it's really their fault. They're just businesses trying to navigate a difficult situation.
Exactly! Don't you DARE have an independent thought!
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