the lending industry operates recklessly then without our permission elected officials swoop in to save their butts. WHY? And people say deregulation is like a bowl of cherries ...........I say not.Good argument against bailouts.
That is a very shortsighted, disingenuous, and overly simplistic "updated" article about what we were really facing when the financial system collapsed.
In looking back at what was happening 2007 to 2008 there we not any very good options to go with and in some respects what was done was an accumulation of some of the best of all the worst options being thrown out.
The private financial system made its own decisions and took its own actions and collapsed its own privatized self to be bailed out to by the socialized public system for the private financial system's own privatized profit. A classic example of socialized cost and privatized profit if there ever was one.
Bank Bailout: Bill, Cost, Impact, How It Passed - The Balance
https://www.thebalance.com › ... › Fiscal Policy
On October 3, 2008, President George W. Bush signed the $700 billion Emergency Economic Stabilization Act (EESA) of 2008 after Treasury Secretary Henry ...
Against corrupt bailouts. I think the Obama bailout of domestic automakers can be defended as a good bailout.Good argument against bailouts.
I do not deny that, what I do take issue with is the idea of allowing the financial system to collapse to make that political point.
Exactly what we should never ever forget ................... never vote republican again because there are none on the ballots all are RINO'sNaomi Klein on the Bailout Profiteers and the Multi-Trillion ...
https://www.democracynow.org › 2008/11/17 › naomi...
Nov 17, 2008 — It's important to understand that in exchange for the bailout money, the banks are not being told that they can't carry the incredible leverage ...
Matt Taibbi & William Black on Bailout Secrets & How New ...
https://www.democracynow.org › matt_taibbi_william_...
Jan 11, 2013 — In a new article for Rolling Stone, Taibbi argues the government did not just bail out Wall Street, but also lied on the financial sector's ... ( A MOST INTERESTING ACCOUNT OF THE BACK DOOR ACTIVITY WITH BIG WALL STREET BANKS)
US Seizes Control of AIG with $85 Billion Bailout - Democracy ...
https://www.democracynow.org › us_seizes_control_of...
Sep 17, 2008 — AMY GOODMAN: The US government has seized control of insurance giant AIG, American International Group, in an unprecedented $85 billion bailout.
Probe: Bailout Firms Owe $220M in Taxes | Democracy Now!
https://www.democracynow.org › headlines › probe_ba...
In other bailout news, a congressional probe has found the top thirteen firms to receive bailout money owe more than $220 million in unpaid federal taxes.
We know it worked. The 3rd and 4th quarters of 2008 were a liquidity crisis. This is from the same articleBank Bailout: Bill, Cost, Impact, How It Passed - The Balance
https://www.thebalance.com › ... › Fiscal Policy
On October 3, 2008, President George W. Bush signed the $700 billion Emergency Economic Stabilization Act (EESA) of 2008 after Treasury Secretary Henry ...
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