The Obama - Clinton Disaster Message Board

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Politics : The Obama - Clinton Disaster

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To: Wayners who wrote (25884)	2/8/2010 2:12:34 PM
From: DuckTapeSunroof	Read Replies (1) of 103300

Re: "Bankers rule the country not our elected officials and this guy sees it too." I can't argue that BIG MONEY talks loudly! Re: "So do bankers run other countries as well?" Why not? Still... I agree with Stockman that "the heart of the bailout was AIG. That was $80 billion worth of CDS that was going to go sour" and that "we weren't bailing out AIG. We were bailing out the banks... And the bailout was to make sure that they didn't suffer multi $10 billion write-downs on that AIG-supported loan." I ALSO agree with him when he says: "It was the single most, you know, drastic error in policy in modern history, going back to the 1930s. This was exactly the wrong thing to do. It's destroyed any basis for fiscal discipline in the United States. I was a member of Congress, and I know how they think. And they think by analogy. If you did it for John, you have got to do it for Bob. There is no way that any congressman is ever going to vote against farm subsidies or ethanol subsidies or housing subsidies or anything else, refrigerator subsidies, once we have made this tremendous bailout for Wall Street, and we stepped into AIG."

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