ducks, how was the line in Yuma today, tbh?
As if Obama shared responsibility for the Repug/Fed Banksters' Great Depression and its horrendous destruction of jobs.
Last edited by boutons_deux; 11-27-2020 at 08:54 PM.
Obama bears the lion's share of responsibility for bailing them out instead of putting them in receivership, but you're right. Obama had little to do with how unemployment got so high in 2009.
Same is true of Trump. There's little he could have done to prevent the initial e in unemployment, but it's legit to hold him responsible for what he did or didn't do about it afterward.
I do not know I do not need handouts
I fixed 10 computers today
Hopefully now that your state is blue you can get by fixing only 5 computers, tbh
Not blue tell dec 14 if they vote it blue
It's blue ducks... you'll be ok.
There's a LOT Trash did and didn't do since 2017 that made his pandemic and therefore the economic catastrophe MUCH worse, compared with other countries, eg Canada, the handle the pandemic and the economy much better.
You wanted Obama to let GM and Chrysler go bankrupt, what about ALL the big banks were essentially bankrupt?
lieboi folds
No I counted my houses
In the 1990s during the S&L crisis, the FDIC put insolvent banks in federal receivership. That's what we should have done in 2009.
they were "just" S&L, not the top 5 or 6 US banks
"The RTC closed 747 S&Ls with assets of over $407 billion.
The thrift crisis came to its end when the RTC was eventually closed on December 31, 1995.
The ultimate cost to taxpayers was estimated to be as high as $124 billion"
https://www.federalreservehistory.org/essays/savings-and-loan-crisis#:~:text=The%20RTC%20closed%20747%20S%26Ls,a s%20high%20as%20%24124%20billion.
the S&L crisis derived directly from the Repugs deregulating them. They hung themselves with their own rope
In comparison, the Treasury + Fed had to dump several $T on BigFinance to bail them out
Lieboi foldren folds and lies.
Worth it. Continental was the seventh biggest bank in the US when it failed (that's recalled by heart, posted somewhere in the forum.)
I don't really buy the premise that the banks were too big to reorganize in 2009. The way you do it is to hire the employees of the insolvent banks to staff the bridge banks -- which btw was done in the 1990s. Not doing so made the banks even more powerful and introduced moral hazard.
If a bank knows the government will backstop it when it becomes insolvent --even if that was due to fraud -- why should that bank obey the law, invest prudently, or take care to respect its fiduciary duties to its customers?
Last edited by Winehole23; 11-27-2020 at 10:11 PM.
Rather than push the banks to bankruptcy, i would have(probably illegal) nationalized the banks, removed the C-suite and the next rank down for violating fiduciary responsibility. Pretty much as was done with Fannie Mae
There's lots of USA that should be nationalized, de-privatized, stuff that essential to life, like electrical grid, electric generation, data networks, water, drug research. If not nationalized, to be heavily regulated. A national non-profit bank, like Bank of North Dakota.
Last edited by boutons_deux; 11-28-2020 at 07:40 AM.
Lol covid
^ Covid anti-science crusade. Sad
Cases bro!^ Covid anti-science crusade. Sad
no you folded foldboi
Lieboi doesn't understand science. Not in Dubai either. He's at home on his computer hitting f5.
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