Quote:
Originally Posted by Doove
We were on the verge of a financial meltdown. We didn't melt down.
To say he took a bad situation and made it worse is simply not true.
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Technically Bush bailed out the banks and theoretically prevented the meltdown. The only way to know for sure if he was right in doing that is to have a comparison where the banks were not bailed out and compare the results.
However, I personally think that if the banks that would have failed were allowed to fail the surviving banks would have provided the services that they failed ones no longer could. As for bailing out AIG I have a problem with bailing out an insurance company that had one failed division. The company should have gone through bankruptcy and the profitable divisions sold off. That money would have offset the losses to those that had a claim.
What Obama did was take over GM and Chrysler. They were both bankrupt companies with valuable assets. They should have gone through bankruptcy where the profitable pieces would have been reorganized and spun off. Creditors would have been paid as in all bankruptcies. Remember when someone makes an investment there is always the risk of loss.
He also passed a stimulus bill that did no good long term. The problems states had were just deferred because of stimulus money but they still had to be dealt with. There were probably some good road projects done but that did not save the economy.
Do you want me to get into the disaster Obamacare will be or the wasted spending on green jobs or the jobs lost in the oil industry or the over regulation going on or ......
, he needs your enthusiastic support!
