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Politics : Formerly About Advanced Micro Devices

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To: Tenchusatsu who wrote (526254)	11/5/2009 3:58:12 PM
From: Road Walker	Read Replies (3) of 1577147

No RW, you are arguing that just a $115B "stimulus" and a 0.4% difference in unemployment (if you believe the inflated numbers from the White House) made the difference between a "crisis" and a "catastrophe." No need to also bring up TARP. The Fed is just doing its job of being the lender of last resort. Nothing new there. We were in no danger of catastrophe. The stimulus helped save jobs... a good thing. You say "the fed is just doing it's job" but no, this was unprecedented. Also Freddy/Fanny to keep the mortgage market alive, the loans to the car companies to save 100's of thousands of jobs. AIG when commercial insurance was frozen. Think of the pure panic, the frozen markets caused by Lehman. Then multiply that by 100. Listen this argument is going nowhere. It's like arguing if Bush saved us from a terror attacks after 9/11... you can't prove a negative. But among the insiders that were at the heart of this thing, the absolute opinion is that we were headed for disaster... right on the threshold. eom

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