Federal agents kept smashing up weed shops in California after we legalized it. He seems awesome by comparison, not because he was awesome. Same with Billy C. We haven’t had an awesome president in my lifetime.
Federal agents kept smashing up weed shops in California after we legalized it. He seems awesome by comparison, not because he was awesome. Same with Billy C. We haven’t had an awesome president in my lifetime.
The bail out was bad, but I can’t imagine at that point letting them fail. The crime was how many people went to prison for what they did.
Can we have another mediocre President please? And boring news?
They could have bailed out individual’s loans, and also solidified the banks that way. If they paid month by month for a time period to stabilize things it would’ve been drastically cheaper and kept people from losing their houses. Those people could have paid back in increments over time in taxes even (like they do student loans). It would have kept all those people from losing their homes, cost less, stabilized the economy, and not rewarded the banks for risky behavior. They should have charged the major players in banks too. What Obama did was the worst way to right the ship.
Too big to fail is too big to exist.
If they had let them fail then maybe we wouldn’t be in the situation we are now with the entire banking system becoming consolidated (many banks have merged into larger banks). Maybe the massive redistribution of wealth towards the top that has occurred since that point would have been much less.
He could have used the power of the federal government to bail out the individuals instead.
I doubt the individuals would have been able to pay it back with interest like the banks did.
The idea would be that the Gov renegotiates the loan, pays off some portion of the interest to make sure that all of us have money in savings expecting return to get it, and then the home owners would get a more reasonable rate. The government would also have to tell all the bank shareholders to take a long walk off a short pier. Oh and jail the C-level
The problem though was that many of the people taking on those horrible rates were people or properties that were bad investments. And the government never really cares enough to punish white collar crimes even they are industry wide like this. Look at Wells Fargo. They full on committed fraud, signing people up for accounts without their knowledge and no one went to jail. If you or I did that for one individual its a felony. But if you’re the bank itself its no big deal. WF should have been broken up and sold off and a bunch of people should be living in a cell.
The crime was socializing the losses and privatizing the gains
Bailout should’ve included nationalizing the banks involved and stiff criminal penalties for those involved in running it. But Obama and democrats in general would never dream of prioritizing the average citizen over their donors.
As a result you and I had trillions stolen from us to make those rich people even more rich and save them from the consequences of their actions. thanks obama, glad you didn’t upset your Wall Street bros
I remember the Bank of America Tower going up in NYC as they were being bailed out. That’s our building.