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Author Topic: Obama budget hopes meet bailout rage  (Read 402 times)

Bindare_Dundat

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Obama budget hopes meet bailout rage
« on: March 03, 2009, 09:12:13 PM »
Obama budget hopes meet bailout rage

Government's rescue team goes before Congress, but budget hearings serve as forum for larger questions about consequences of financial fixes.

Bernanke was asked variations of that same question throughout the hearing.

"Our belief was that to allow the company (AIG), to fail at this juncture, putting aside its huge adverse affects on the financial system and on the economy, would have greatly also impaired the ability of the government to recover the investments that have already been made in the company," Bernanke said.

http://money.cnn.com/2009/03/03/news/economy/budget_hearings_tuesday/index.htm?postversion=2009030319


 Betting more tax payer money in hopes of winning back the, investments. Great loop we got going on here.




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Hedgehog

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Re: Obama budget hopes meet bailout rage
« Reply #1 on: March 03, 2009, 09:20:23 PM »
They're stuck in this ideological trap that they're not supposed to nationalize, even temporarily.
They rather just pour tax money over the banks.::)
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Soul Crusher

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Re: Obama budget hopes meet bailout rage
« Reply #2 on: March 04, 2009, 04:36:22 AM »
Quote from: Hedgehog on March 03, 2009, 09:20:23 PM
They're stuck in this ideological trap that they're not supposed to nationalize, even temporarily.
They rather just pour tax money over the banks.::)

Dude, you have no idea what you are talking about.  nothing is temporary when it comes to the govt.
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Hedgehog

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Re: Obama budget hopes meet bailout rage
« Reply #3 on: March 04, 2009, 06:06:33 AM »
Quote from: 333386 on March 04, 2009, 04:36:22 AM
Dude, you have no idea what you are talking about.  nothing is temporary when it comes to the govt.
Look at the Bush tax cut - it actually was temporary.
Another example would be the New Deal - also a temporary fix.
Or how about the Patriot Act? j/k
You're concerns are legit and I share them.
Just look at how 'temporary' Gitmo has become.
 
But I hate to see a depression because ideological ego prevented politicians from acting. 
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Soul Crusher

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Re: Obama budget hopes meet bailout rage
« Reply #4 on: March 04, 2009, 06:12:59 AM »
Quote from: Hedgehog on March 04, 2009, 06:06:33 AM
Look at the Bush tax cut - it actually was temporary.
Another example would be the New Deal - also a temporary fix.
Or how about the Patriot Act? j/k
You're concerns are legit and I share them.
Just look at how 'temporary' Gitmo has become.
 
But I hate to see a depression because ideological ego prevented politicians from acting. 

Ha ha.  We still have the New Deal spending programs and taxes - but much worse!   LBJ enacted massive new programs which are crippling us - did they ever go away?  No!  They expanded like a malignant cancer.

BTW - Obama is not going to do anything about the patriot act but expand it and abuse it.  He is a tyrant and a dictator wannabe.  Like KRS One said - "he is the black face on the NWO."

BTW - Jim Cramer is a Harvard Educated lawyer and he called Obama a socialist/communist.

Is he wrong too?

You think I am wrong all the time and incorrectly call Obama a socialist.  Finew.

But is Jim Cramer, who voted for Obama, also wrong????

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