Quote:
Originally Posted by DateDoc
Obama has spent more than Bush but both are to blame. The point everyone seems to fail to see is the sovereign debt failure that is looming. Plus the fact that home prices have not reached the bottom they need to reach as the govt is propping them up just delaying the inevitability.
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Yes but you are forgetting one small detail. Once the ball started rolling do you really think obama could have said "fuck that, no more bailouts" - could not have happened. once the bailout crap was initiated that was it.
Not defending obama here either, but it does help to see the position he was put in.
would obama have done the same thing? maybe, but regardless he was left holding the bag on the biggest economic fiasco in U.S. history.
Also, Markham I don't think so. If there was no bailout many banks would have survived just fine and many of the sketchy corps like AIG might have bitten the dust but that's a GOOD thing. They're a bunch of rotten thieves.
The country and possibly many world economies would have taken a huge hit at first, but by now we would TRULY be emerging from the depression, not straddling some vague line between stability and chaos.
And probably with a greater code of ethics for conducting business to prevent this shit from happening again.