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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (478067)	5/5/2009 4:37:11 PM
From: Road Walker	Read Replies (1) \| Respond to of 1576317

It totally makes sense to handle it in this manner, so why wouldn't you? Because there ain't enough FDIC workers to close all the major bank branches at the same time. Get it? Jeez. But if we "were" on the precipice a few months ago, we still are today and will be next year. Financial irresponsibility is not turned around that quickly. And neither Bush nor Obama has done ONE DAMNED THING to make it better. Not on the kind of scale you're talking about. You are absolutely correct we are not out of the woods, especially if asset values continue to decline and/or there is any geopolitical crisis. The Bush admin acted properly. Obama has managed the crisis very well. But there is a hell of a lot more to do. If a small run on banks 3 months ago could have brought about a total collapse, a slightly larger run on banks today could do exactly the same. No small run, but other than that you are correct. The whole thing runs on trust... take away the trust and the whole thing doesn't run. Period. The federal government restored trust in the only way they could... they were the backstop that got things moving again. That's what happened, like it or not.