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

To: tejek who wrote (112554)	4/17/2012 8:37:55 PM
From: RetiredNow	Read Replies (1) \| Respond to of 149317

The problem is you don't want to know what's really going on. Europe is doing exactly what you think the US should be doing and they are falling apart at the seams and getting suicidal over it: You keep saying that, but Europe is doing many of the same stupid things the US is doing, but they are also doing if more stupid things. They are patently NOT doing what I would do if I was in charge over there. I would not engage in ponzi scheme finance to bailout countries like Greece with more and more loans that they will never repay. I would not force countries to go into major austerity measures in order to qualify for these loans that they will never repay. Instead, I would have kicked those countries out of the EU and that would have freed countries like Greece up to print their own currency and to default on their unpayable loans. Here in the US, I would have put the banksters who committed crimes in jail. I would have used the bailout money given to the TBTFs as a purchase of shares in those banks, then I would have used our voting authority to reinstitute mark to market accounting to properly value the financial statements. Then if any of them (or most of them in reality) were deemed to be insolvent, then I would have put them through bankruptcy protection and reorganization or sold off the assets to pay off creditors and shuttered operations. What I would not have done is spent trillions of tax payer money on bailing out banks that gambled on ridiculous investments that didn't pan out. So no. Europe is absolutely NOT doing what I would have them do, despite your constant repetition that they are.