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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Little Joe who wrote (40658)	10/27/2008 7:06:24 PM
From: tejek	Read Replies (2) \| Respond to of 149317

Also, I do not agree that letting the markets correct themselves is Bush's ideaology. I think that Bush and Washington were taken in by the Greenspan Mafia who were mostly concerned about enriching Banks and wall street financial institutions. BS. Greenspan's crime is lowering interest rates. He didn't force lenders to lend to people with poor credit, he didn't tell agents to fudge their clients mort. applications, he didn't tell appraisers to jack the value of property unfairly, he didn't Wall St. to package the loans in way you couldn't tell what was bad and what was good etc. Regulating these businesses was the job of the Feds and to a lesser extent, the states. Neither did their job. The proof of the pudding is look what happened when they were threatened. All of a sudden we have all the money in the world to save them. The hell with deficits, we have to save the crooks and thieves who contributt to our campaigns. My god if they go bankrupt, who will finance our campaigns? !!! This is the Bush Washington Doctrine. Maybe saving them is a good thing We didn't save LEH and its made the crisis much worse, not better. Its the ideology of Libertarians like yourself that helped get us into this mess. And now you stand back and play critic......I don't think so.

To: Little Joe who wrote (40658)	10/27/2008 7:17:55 PM
From: LLCF	Respond to of 149317

youtube.com DAK

To: Little Joe who wrote (40658)	10/28/2008 8:02:58 AM
From: RetiredNow	2 Recommendations Read Replies (3) \| Respond to of 149317

Well, I know a little something about finance, since that has been my background for a couple of decades. Liquidity is a funny thing. If it freezes up, every sector loses jobs, not just Wall Street. So something had to be done. The panic bailout was less than ideal, though. And now the execution of the processes looks to be fraught with perils as well. Here's another thing. We're in deep doodoo. The worst since the Great Depression. We can sit idly by and wait for it to metastasize and watch as you and I lose our jobs, or our government can run deficits to spend our way out of it. I know that it is very unappealing, but it worked after the Great Depression, which is our only historical precedent. I'm the last person that likes government debt. I've been railing against it for years. But at times like these, there is little choice but to go into further debt. The only choice we have is where to spend it. Bush would like to spend it on his rich friends. I think we should spend it to rebuild this country's infrastructure and create Green jobs to build an entirely new economy based on alternative energies. That would be making sure our spending was an investment, instead of just a giveaway to rich people.