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Originally Posted by Splum
I hate you but completely agree with you here. Regardless the Obama administration is handling this like a complete fucking amateur morons. There isnt a SINGLE thing they have done that will help the credit markets to get moving again(which would solve about 50% of the problem we have with company cash hording right now). They could nationalize the banks and weed out the bad ones or they could just let them fail, both are WAY better options than what they have done with this "stimulus" bill. The bill does nothing but delays some unemployment numbers, socialize more programs and lowers the value of American currency.
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A few days ago they were saying on the news that the Obama team was going to "stress test" several banks to see if they were capable of sustaining themselves. Then there was a report that the government was about to buy up to a 36 percent share in Citibank. It looks like nationalization is just around the corner.
You and I both know if tomorrow Obama came out and said he was nationalizing all banks the republican party would collectively shit little green elk. At the same time if he said there will be no more money for any banks and we will see which ones fail and which survive the democrats (who can't stand to let anything fail) would do the same. He has to walk a tightrope here. Doing either of these things is a big, messy step. Maybe it is okay to take some time and make sure is the correct step.