Obama knows 'stupidly' when he doesn't see it

[ElNono]

I do not believe enough of the banks would have failed to cause such a thing. The ones that made the bad loans deserved to fail. I am all for taking a temporary hit, like any other correction. I honestly believe that these bailouts will cause us far more harm than what would have happened by telling the banks "go yourself." Controlling interests in the banks would have done all in their power to stay viable as long as it was their investments at risk. Once the government rewarded them for their failures, they have no incentives to fix things the right way. If we wanted to help the failing banks, we should have made demands on them, and could have guaranteed customers money to avoid a run. That would have been far cheaper than raping my children of their future.

We're going in circles here. You only need the big ones to fail (which happened to be the ones with the toxic assets) to cascade into the entire system.
Also, what do you call a temporary hit? What are we talking about here? 4 years of recession? 10 years? What's your number for a temporary hit?

[ElNono]

a third option would have been too late.

Well, I think it would have looked a lot like the bailout initially, but saved money over time, with the added value of cleaning up the banking system and teaching a lesson.

[Wild Cobra]

so, you're saying that bush had to act fast before people figured out the scam they were pulling?

I don't know what his reason was. I have stated in the past that I though he was given bad advice from his Treasury Chairman. It was others claiming we had to act fast. I also think because it was the end of his term, he just rubber stamped what congress wanted. If it goes awry, blame congress. If he vetoed it, he would have surely been blamed for this situation for not acting. He was stuck between a rock and a hard place. If it were me, I would have vetoed it.

[Wild Cobra]

We're going in circles here. You only need the big ones to fail (which happened to be the ones with the toxic assets) to cascade into the entire system.

I disagree.

Also, what do you call a temporary hit? What are we talking about here? 4 years of recession? 10 years? What's your number for a temporary hit?

We would have recovered by now I think. As it is, this will last for some time still.

[ElNono]

I disagree.
We would have recovered by now I think. As it is, this will last for some time still.

I really, honestly, don't think you have the slightest idea of what you're talking about. But I'm not here to convince you of anything, so I'll leave it to 'agree to disagree'.

[Vinnie_Johnson]

I give you credit for being as stupid as you are.

You are guilty of libel and propaganda. You have no proof of what you claimed. It was a lie meant to defame Obama.

You are lost.

[ChumpDumper]

You are lost.

You are lost. That's classic Wild Cobra boilerplate.