0bama: 'WE'RE OUT OF MONEY'

[mississauga75]

Originally Posted by Wapasha

Yes, we need a program like TARP or government bailouts, that will fix everything, good idea, you should float this idea past 0bama.

F&F were government controlled entities, and they bought up every mortgage they saw, and were responsible for a lot of the housing bubble and collapse.

Do you think some people were doing things illegally, and need to go to go on trial, or off to prison for the banking fiasco, but do you see anyone? No, you don't. What we do see is government rewarding some of these crooks with taxpayer money, bailouts, TARP etc...

The only government regulation I see, is restricting the use of corporate jets, or office decorating policy and executive pay, and none of those were the reason for this economic collapse.

Ok let me correct rephrase. You need COMPETENT government regulation, The countries that have engaged in this were far less likely to be impacted by the financial crisis- follow their model in the future.

[Wapasha]

Originally Posted by mississauga75

Ok let me correct rephrase. You need COMPETENT government regulation, The countries that have engaged in this were far less likely to be impacted by the financial crisis- follow their model in the future.

We had banks, like Wells Fargo that did the right thing, and were not reckless and irresponsible, they should have come out on top, but government intervention spoiled all that, now all the banks are in more trouble then if government would have not meddled so much.

I agree we need competent government oversight and regulation, but we did not have any, and democrats stood in firm opposition to any until it was too late.