Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: RetiredNow who wrote (104271)	11/16/2011 8:34:44 AM
From: Road Walker	Read Replies (1) \| Respond to of 149317

Forcing the banks through a controlled bankruptcy process would have ring fenced the damage to those who took ridiculous risk with other people's money. Easy to say that now. Were you calling for it then, in the heat of the world wide economic collapse? Imagine the Republican reaction if Obama had suggest nationalizing 90% of the banking industry?!? Remember in those days he was the terrorist socialist... before he became the crony capitalist. In retrospect that seems like a better solution to me. As in retrospect regulating the crap out of the banks seems like a great thing today ... but if you look at the opposition it's mostly on the right.

To: RetiredNow who wrote (104271)	11/27/2011 2:54:10 PM
From: tejek	Read Replies (1) \| Respond to of 149317

Nope. Forcing the banks through a controlled bankruptcy process would have ring fenced the damage to those who took ridiculous risk with other people's money. Instead, we've insulated the criminals, bailed them out, and socialized their losses, putting all the pain on the 99%. My brother is a CPA and Partner at a national law firm who specializes in dealing with bankers and investment banks, among other things. I've had many conversations with him on this topic. Do you have any idea how many banks have collapsed since the recession started and how much damage has been done to the economy because of their collapse? Here in Seattle we are still paying for the collapse of WAMU. All that pain has not made us better people and its the lesser of us who can least afford it who are experiencing the worst of the pain. Do you have any idea the extend of the damage that would be caused if all the majors went under? You don't, do you? You just like the adage.........no serious pain, no gain. Why are you all so into shock and awe?!