Secrets and Lies of the Bailout
The federal rescue of Wall Street didn’t fix the economy – it created a permanent bailout state based on a Ponzi-like confidence scheme. And the worst may be yet to come
S o what did bailout officials do? They put together a proposal full of even bigger deceptions to get it past Congress a second time. That process began almost exactly four years ago – on January 12th and 15th, 2009 – when Larry Summers, the senior economic adviser to President-elect Barack Obama, sent a pair of letters to Congress. The pudgy, stubby#fingered former World Bank economist, who had been forced out as Harvard president for suggesting that women lack a natural ap ude for math and science, begged legislators to reject Vitter’s bill and leave TARP alone.
n the end, there was no lending requirement attached to any aspect of the bailout, and there never would be. Banks used their hundreds of billions for almost every purpose under the sun – everything, that is, but lending to the homeowners and small businesses and cities they had destroyed. And one of the most disgusting uses they found for all their billions in free government money was to help them earn even more free government money.
So neither you nor BSfromTX will tell how both sides were responsible for Trump's horse $3.2 trillion corporate tax giveaway that was blown largely on stock buybacks.let me get this straight
when democrats give bailouts it to help economy. when repubs do it its to help the billionaires right?
holy
Ignoring the CDC recommendations.. their shepherding.
Many states ignore CDC recommendations and go their own way. Doesn't make them right, but the CDC isn't the be-all, end-all in decision making.
not defending that sure it happened that way
why are you not agreeing that Obamas bailouts were giveaways to the banks??
Of course they were, the banks held a gun to everyone's heads. Trump voluntarily gave away the farm in allegedly good economic times.
“the banks put a gun on Obamas head”
take obamas out ya mouth ma nig its embarrasing
It's always distraction this look a squirrel there when talking about Trump's ups.“the banks put a gun on Obamas head”
No one's suggesting all of their recommendations have to be followed. Trump threw out the entire book and declared himself the end-all, be-all decision maker, as he has with everything else (particularly on the subject of anything that requires reading.)
It's not hard to see how a good leader might handle this kind of situation. Pick 5 things from the recommendations. Lead by example. Trump's number one message right now is "ignore the experts and get angry because the libs are trying to run your life." That's ty leadership.
I’m not talking about Bush bailouts. We’re comparing Obama bailouts to Trump tax cuts.
oh and we never had a good economy after 2008
its just been a bubble and a scam since then
And I agree with the 2nd part, but at the time Trump passed his tax cuts he claimed our economy was in great shape, which is all that matters for this discussion.
Dude, I hate all the bailoutts and every politician that voted for them, regardless of where it wentYeah both sides were responsible for Trump's horse $3.2 trillion corporate tax giveaway that was blown largely on stock buybacks.
yup
they all work for the same masters Trump included
I believe it doesn’t matter if it were Trump or Obama or Bush or Romney or Pelosi or enter any other sell out in our government. That sorta thing will always happen in this system. Let me be very clear. I do not defend Trump one bit. I believe he is no different than any other politician in Washington. I support your criticism of him. I don’t support excuses for the others
I'm not talking about Trump's bailout, I'm talking about Trump's ridiculous tax cut for corporations in 2017 so they could dump that money mainly into stock buybacks.
Yes you do defend Trump by normalizing him and the GOP. No Democrat would have passed that ridiculous $3.2 trillion corporate tax cut that went straight into stock buybacks.
didnt W have a similar tax break
Trump ran on that tax break, he announced it and he did it. its not like he tricked or lied to everyone. I hate bailouts more because they actually lie and take dvantage of crisis to do them both democrats and repubs do that
sure I agree trumps tax breaks are terrible
but bailouts are worse as they kick us and rob us when we down
Yeah Trump sold that tax cut as hey we're going to raid the treasury so these rich s can get a huge windfall by arificially raising stock prices by having their companies buy back more stock. FOH man. Even if you discount that, this round of bailouts is even more disgraceful than the ones of the Great Receission. It's like we get all the worst parts of Obama with Trump and then on top of that the unparalleld corporate blowjob of 2017 and 80,000 dead with many tens of thousands of American deaths coming.
i do not normalize him. None of them are on my side. In my opinion, these issues are just symptoms of the real problem. The real problem is the monopoly the federal reserve has on credit and the exchange of goods and services. As long as that system continues to exist, these arguments are futile
cant disagree with that. but Obama or Dubya were not much worse.
The richers used Obama and Dubya as trial balloons. they saw they could get away with it so they went all in on Trump.
all 3 are the same. slaves to their masters
glad we agree
You absolutely do normalize him when you say he's the same as all the others. Typcial right bull where it's bothsides when the right s something up.
No they're not all the same. As ty as Obama and Clinton were they wouldn't have passed that ridiculous tax bill of 2017.cant disagree with that. but Obama or Dubya were not much worse.
The richers used Obama and Dubya as trial balloons. they saw they could get away with it so they went all in on Trump.
all 3 are the same. slaves to their masters
glad we agree
possibly but Biden would have easily passed the 2020 bailouts
thats where our argument started. we are back on square one. Biden sucks . No way in Im voting for him
You jumped in on a discussion about the $3.2 trillion corporate tax blowjob that only the GOP would have ever passed. I hate Biden, Sanders was the only good presidential candidate of the 21st century, but he'll be far superior to Trump. Everything I hate about Biden is a subset of what Trump is. But the reverse inclusion is not true. He wouln't pass that $3.2 trillion corporate blowjob that went to stock buybacks. He wouldn't have disregarded the pandemic playbook and said he virus was a Republican hoax. He wouldn't be trying to kick millions off their health insurance.
So you want me to say Trump is a little bit worse then the others? That would make you feel better? That maybe you can pretend that the left is bad but not that bad? Fine he’s worse, but that doesn’t make the others good. Tax cuts will pale in comparison when the day comes that we have to depend on these goons for everything.
Deaths from COVID-19 vs. deaths from H1N1 indicate he’s more than a little worse than Obama.
Theres literally tens of thousands of dead Americans as a result of Trump’s negligence.
Trump ran on a tax break that was going to help the middle class and not the rich the same way every other Republican does.
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