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

To: Mongo2116 who wrote (1050184)	1/23/2018 4:50:42 PM
From: RetiredNow	1 Recommendation Recommended By Tenchusatsu Read Replies (2) \| Respond to of 1573988

Well, it wasn't what Obama did, first of all. The market would have recovered with or without all the interventions. But we don't have a free market anymore. We have a tightly controlled market, which is why it is so dysfunctional. What conventional wisdom claims did the trick was a profligate amount of debt spending, $2.5 trillion in QE, and zero percent interest rates for many years. Really, what all that did was build up massive excesses in financial assets, without addressing the underlying problems in our economy and in our ability to prosecute the banksters and systemic fraud that occurred in the Financial Crisis. What did Obama do? He signed the bills and went along for the ride. Congress and the Fed did the heavy lifting, as they always do. I just wish they were smart enough to do heavy lifting to help the American people, but instead most of the time they just push bags of shit from one corner to another and claim that to be progress.

To: Mongo2116 who wrote (1050184)	1/23/2018 6:31:14 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 1573988

What Obama did worked...we recovered...it could have been worse...spend all that and fail so you're one of the .0001% at the top? That's who "recovered" under OBanker On condition of anonymity,” Silverstein added, “one Washington lobbyist I spoke with was willing to point out the obvious: that big donors would not be helping out Obama if they didn’t see him as a ‘player.’ The lobbyist added: ‘What’s the dollar value of a starry-eyed idealist?’” instead of standing up for those who had been harmed most by the crisis – workers, minorities, and the poor – Obama sided unequivocally with those who had caused the meltdown. “My administration is the only thing between you and the pitchforks,” Obama said. “You guys have an acute public relations problem that’s turning into a political problem. And I want to help…I’m not here to go after you. I’m protecting you…I’m going to shield you from congressional and public anger.” For the banking elite, who had destroyed untold millions of jobs, there was, as Suskind puts it, “Nothing to worry about. Whereas [President Franklin Delano] Roosevelt had [during the Great Depression] pushed for tough, viciously opposed reforms of Wall Street and famously said ‘I welcome their hate,’ Obama was saying ‘How can I help?’” As one leading banker told Suskind, “The sense of everyone after the meeting was relief. The president had us at a moment of real vulnerability. At that point, he could have ordered us to do just about anything and we would have rolled over. But he didn’t – he mostly wanted to help us out, to quell the mob.” counterpunch.org