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

To: Road Walker who wrote (112793)	4/24/2012 7:03:15 PM
From: tejek	Respond to of 149317

so much so that Ted and I could barely exchange emails. Only because your emails were wrong. lol.

To: Road Walker who wrote (112793)	4/24/2012 9:07:02 PM
From: RetiredNow	Respond to of 149317

Yes. He believes as I do that this country needs a solvent banking system and the way to achieve that is not to prop up insolvent banks, but to wind them down in an orderly manner. His firm does these kinds of deals all the time for the banks. He has sat on both sides of the deal. On some deals, he helps out on the acquisition of insolvent bank assets. It's the strong eating the weak, as Capitalism always is. And it works. What we both agree in is that you have to get the timing right. You don't sit back and watch when the world is collapsing. However, once the situation is stabilized, you don't sit back and watch as taxpayer money continues to get stolen by the TBTFs in collusion with Bernanke. Tax payer money is well spent when used to stabilize, but not when used to recapitalize. That's a world of difference between those two words. Stabilize = good. Recapitalize = bad. It's not the responsibility of the American tax payer to recapitalize banks who made bad decisions with shareholder money. Let them go back to the markets if they need more money. Or if the markets won't give them more, then let them go through bankruptcy. I say let's bring back mark to market rules and see exactly which of those banks are still solvent and then have those insolvent banks wound down and their charters revoked. It's time to do something now that the situation is stabilized.