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Shhhhhhhhhhh. Republicans are against the bail-outs
It's funny because the Republicans in Congress WERE against the bailouts in late 2008.
Some of us remember the agonizing media/Dem/elite arm-twisting that had to happen for the Republican to vote for TARP and the Auto Bailout, but they eventually did.
Frustration over that planted the seeds of the Tea Party movement.
But make no mistake the force behind the initial bank bailouts were Bawny Fwank, Schumer and the rest of the Democrat slime who controlled the banking committee at the time.
Shortly after the 2008 election, the big three automakers flew their private jets to DC to plead for public funding while citing failure to take action would result in massive millions being laid off. Congress declined. ( Paul Ryan was one of the few Republicans to vote in favor of the bail out no different than his prior votes in favor of TARP, from the begining.)
Bush finally gave GM, GMAC and Chrysler a bridge loan for $25 billion out of TARP, to tide them over and kicked the can to Obama on his way out the door.
Obama and Congress demanded more concessions and finally approved an expedited bankruptcy plan and $30 billion bailout in the Spring of 2009.
It's funny because the Republicans in Congress WERE against the bailouts in late 2008.
Some of us remember the agonizing media/Dem/elite arm-twisting that had to happen for the Republican to vote for TARP and the Auto Bailout, but they eventually did.
Frustration over that planted the seeds of the Tea Party movement.
But make no mistake the force behind the initial bank bailouts were Bawny Fwank, Schumer and the rest of the Democrat slime who controlled the banking committee at the time.
Try again, the democrats had both houses. W and the GOP had the checkbook open and had no problem giving their big banker cronies whatever they wanted. The democrats only agreed to it so the auto industry could be saved.
Try again, the democrats had both houses. W and the GOP had the checkbook open and had no problem giving their big banker cronies whatever they wanted. The democrats only agreed to it so the auto industry could be saved.
You may want to look into who was in charge of the finance committees, democrats were 100% behind the bank bailouts.
Correct. Bush basically gave them enough time to last until the new admin came in.
A bad decision, as their assets had value, and to let BK take place the natural way would have been a way to squeeze 3 corps down to 2 (something we still neeed, based on their market share, cost structure, IMO).
Yes, the bailouts did commence under Bush's watch. But what does that have to do with the price of apples in China?
Sorry, I guess that colloquialism has run it's course...Seems like everything has to do with the prices in China nowadays
But back to the point...bailouts are Socialist AT BEST and really more Fascist leaning. So naturally, I think there are horrible. But what puzzles me....is....why make this a partisan talking point? Do you need anymore evidence that the GOVERNMENT does this? So....??
If the economy would have fallen through the floor, so be it.
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