Quote:
Originally Posted by Redrob
Personally, I'm thankful of the Obama presidency.
He might not be able to fix it; but, I don't think he will be shoveling billions of dollars into the pockets of his cronies...like Bush/Cheney did.
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Rahm Emanuel was one of the ones who played a key role in the bailout plan itself. He and Obama were key players in getting it through. He's very much on board with the bankers.
Quote:
Originally Posted by WarChild
You guys do realize that "bail out" money is not just money straight down the toilet, right?
Much of it is loans and purchasing of existing debt. When you buy a mortgage, you don't write down the entire value of the house. The houses may be worth less, but they still have a value.
The auto industry has to pay back that money. The last time a loan was made (Chrysler) it was actually paid back ahead of time.
So you're not talking about money staight down the toilet like many of you seem to think.
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That was all bullshit. The real problem was the credit default swaps. They just used the real estate market as the scapegoat.