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Old 09-16-2018, 07:31 PM
509
 
2,545 posts, read 3,749,728 times
Reputation: 2936

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Quote:
Originally Posted by chopchop0 View Post
Fake news. Last I recall GWB and the GOP knuckleheads de-regulated us into the great recession with Obama coming in to pick up the pieces.
AND who pushed and signed the repeal of Glass-Steagall??

Wasn't that the most significant financial deregulation?? What were the financial deregulations under Bush??

I still cannot forgive Obama...for saving the jobs of Wall Street bankers and sending the working Americans to the poor house. AND THEN to tell the Wall Street bankers...." I am the only person standing between you and the American people with their pitchforks"!!!

That did it for me.

 
Old 09-16-2018, 07:37 PM
 
Location: Kansas/China
4,537 posts, read 2,307,463 times
Reputation: 3199
My life would be equally awesome under Hillary. Anyone who allows politics to effect their personal life are too politicised.
 
Old 09-16-2018, 07:52 PM
 
Location: Wisconsin
20,817 posts, read 41,488,656 times
Reputation: 14048
Quote:
Originally Posted by 509 View Post
AND who pushed and signed the repeal of Glass-Steagall??

Wasn't that the most significant financial deregulation?? What were the financial deregulations under Bush??

I still cannot forgive Obama...for saving the jobs of Wall Street bankers and sending the working Americans to the poor house. AND THEN to tell the Wall Street bankers...." I am the only person standing between you and the American people with their pitchforks"!!!
And, what should he have done? Let the banking system/financial structure collapse completely throwing the US and the world into an abyss? Would that have saved the jobs of the working American?

The exact opposite, in fact.

Without government intervention, we would have had another Great Depression. As it was, The Great Recession was calamitous and tens of millions of Americans have never recovered.

Which is why prudence is required going forward. The recent tax legislation is completely antithetical to good money management and sound fiscal policy.

We will pay for this - AGAIN.

Interesting analysis of what led up to the financial crisis, with the Dems bearing a lot of the blame, but Bush Admin as well for its hands-off policy on regulation - and appointment of some incompetents:

https://www.nytimes.com/2008/09/20/b....16321064.html

Clearly, history will repeat itself. Worse yet, current prez is an idiot who can't and won't read and is incapable of appreciating competence and expertise, and prefers to find ways to use the law to avoid responsibility and walk away from debts. He's good at that. No reason he should be concerned about US debt seeing as how he's never been concerned about his own.

God help us.
 
Old 09-16-2018, 08:02 PM
 
16,355 posts, read 6,103,305 times
Reputation: 6923
Quote:
Originally Posted by 509 View Post
AND who pushed and signed the repeal of Glass-Steagall??

Wasn't that the most significant financial deregulation?? What were the financial deregulations under Bush??

I still cannot forgive Obama...for saving the jobs of Wall Street bankers and sending the working Americans to the poor house. AND THEN to tell the Wall Street bankers...." I am the only person standing between you and the American people with their pitchforks"!!!

That did it for me.
I agree. Obama needed to watch several more Lehman style corps bite the dust. That was W's best moment, watching them collapse. If O had allowed a few like them to go, we'd have a Wall St now that would fear DC, as it should. Instead, starting with Bubba, WS had friends no matter the party in the WH. Assisting banks was ok, but not w/o more mass closures like Lehman. Allowing a few more financial institutions to liquidate would have provided long-term benefits. Made the rest behave in a financially sane manner from then on Fear is a great motivator.

In addition, The government needed to stay out of the D3 restructuring, which would have rewritten the UAW contracts via Bankruptcy Court w/o outside political interference. That would have properly cast Chrysler out to die, while GM would be picked up by a transplant as a subsidiary.
 
Old 09-16-2018, 08:28 PM
509
 
2,545 posts, read 3,749,728 times
Reputation: 2936
Quote:
Originally Posted by Ariadne22 View Post
And, what should he have done? Let the banking system/financial structure collapse completely throwing the US and the world into an abyss? Would that have saved the jobs of the working American?

The exact opposite, in fact.

Without government intervention, we would have had another Great Depression. As it was, The Great Recession was calamitous and tens of millions of Americans have never recovered.



..........................God help us.
We did have a Great Depression for working Americans.

The Federal Government took over the entire banking system in 2008.

This is what they should have done....brought back Glass-Steagall.

Broke up the big banks...gone back to 1992. Banks could not cross state lines. That way when a bank goes bankrupt....we are not in a to big to fail situation.

FIRED all the Board of Directors and senior leadership at the banks. At that point the Federal government OWNED the Banks....they should have gotten rid of the people that caused the problem. Should have thrown them in jail!!

Obama chose to do neither. Instead he chose to have working American's lose their jobs while the bankers less than a couple of years later were getting bonuses.

Instead....we have too big to fail AGAIN. Next time, more working Americans will lose their job. Thanks to Obama...this is a given.

God failed us...he gave us Obama. Don't think he will do any better the next time around.
 
Old 09-16-2018, 08:47 PM
 
Location: Wisconsin
20,817 posts, read 41,488,656 times
Reputation: 14048
Quote:
Originally Posted by 509 View Post
The Federal Government took over the entire banking system in 2008.

This is what they should have done....brought back Glass-Steagall.

Broke up the big banks...gone back to 1992. Banks could not cross state lines. That way when a bank goes bankrupt....we are not in a to big to fail situation.

FIRED all the Board of Directors and senior leadership at the banks. At that point the Federal government OWNED the Banks....they should have gotten rid of the people that caused the problem. Should have thrown them in jail!!
I don't disagree with this - at all. I hate the big financial institutions. Much preferred the days when banking was local. And, I, too, was furious when the boys on Wall Street got off scot-free. Felt completely betrayed.

But, Trump is NOT the solution - he is antithetical to it.

Quote:
Originally Posted by 509 View Post
Obama chose to do neither. Instead he chose to have working American's lose their jobs while the bankers less than a couple of years later were getting bonuses.
Restructuring to prevent another calamity would not have prevented or mitigated the terrible fallout - as the calamity had already begun in 2008 - and continued well into 2010-11. The jobs would have been lost regardless.

And, again, yes - the bankers should have been punished. But, they weren't - and they never will be. The rich among us will almost always escape.
 
Old 09-16-2018, 09:46 PM
 
8,760 posts, read 9,938,170 times
Reputation: 4516
Quote:
Originally Posted by 509 View Post
AND who pushed and signed the repeal of Glass-Steagall??

Wasn't that the most significant financial deregulation?? What were the financial deregulations under Bush??

I still cannot forgive Obama...for saving the jobs of Wall Street bankers and sending the working Americans to the poor house. AND THEN to tell the Wall Street bankers...." I am the only person standing between you and the American people with their pitchforks"!!!

That did it for me.
Tell me, what has trump done to those dirty wells Fargo bankers?? And who did he nominate to the CFPB?? You think Obama did all that? Lol.

Just remember, who wrote glass steagall... the gop congress
 
Old 09-16-2018, 09:49 PM
 
Location: Old Mother Idaho
19,374 posts, read 13,031,754 times
Reputation: 14081
Yeah. I miss the old days of 2015, when I wasn't barraged daily with the latest midnight Tweet from the White House and all the uproar that ensues. If a Tweet doesn't start the uproar, Trump jumps on a plane and fires it up in person someplace.

Chaos is our President's natural state, but it isn't mine. It's very easy for him to ignore me, but I sure can't ignore him. No one can ignore Trump. He doesn't permit it.
 
Old 09-16-2018, 09:53 PM
 
Location: Wisconsin
20,817 posts, read 41,488,656 times
Reputation: 14048
Quote:
Originally Posted by banjomike View Post
No one can ignore Trump. He doesn't permit it.
That's because he was the fourth of five children and didn't get enough attention. I'm convinced of that. So everyone around him - and now the whole world, sadly - are the recipients of his bottomless pit black hole of neediness and immaturity.
 
Old 09-16-2018, 09:56 PM
 
Location: NE Mississippi
11,382 posts, read 7,416,523 times
Reputation: 16980
Quote:
Originally Posted by Mattks View Post
My life would be equally awesome under Hillary. Anyone who allows politics to effect their personal life are too politicised.
I don't know about that.
I remember '68. And a lot of people who didn't know squat about politics went off to Vietnam. It got pretty personal for some of them.


Politicians can kill you. They give you medals sometimes after they get you killed, but you're still dead.
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