Weatherman2020
Diamond Member
- Thread starter
- #81
Your defense is Obama and Politifact lied?Educate yourself.Capitalism includes bailing out financial institutions occasionally, ignoramus.What i think IS RELEVANT. Thats why our election is still up in the air. Because of our voices.Where would we be indeed....Taxpayers didn't "have to" bail out anyone in order for capitalism to function properly. That was the decision of crooked politicians.The trillions that taxpayers have had to pay to bail out the banks/wall street is a sign of the failure of capitalism.
Seems fair.
I agree they did not have to. They did though. Where would we be if there was no Federal Reserve and our ability to go into an incredible amount of debt?
Where would we be if we had done the right thing and allowed a large number of banks and businesses to fail?
Where would we be if we weren't handing corporate farms billions of dollars?
The governments job is the defense of the people. Thats it. I didn't need oil companies, gm, solyndra, and all the other scam bailouts to occur to be protected.
No company should ever be considered too large to fail. Can't sell seats on your airplane sell the fucking airplane and cut your payroll
What you think is irrelevant to what we do. You believe we should practice capitalism. Great. I won't argue that. I'm arguing what we actually do.
But your defeatist attitude is noted.
I'm not discussing what people want. I am discussing what we actually do. We do not practice capitalism. You want us to and that is fine. We aren't going to.
Capitalism most definitely does NOT bail out privately owned companies EVER! The essence of capitalism is to "let the market decide". Mitt Romeny and the Republican Party had no problem bailing out Wall Street, but they continue to have HUGE problems bailing out Main Street. Romney and the rest of the vulture capitalists could not wait to buy up the GM assets, break them apart and sell them off - just like they did in de-industrializing the rest of the Rust Belt.
When W bailed out Wall Street, that money didn't save jobs. The big banks used it to pay bonuses to the asshats who sold the derrivatives and subprime mortgages that collapsed the economy in the first place. And none of that money was ever repaid.
Yet Republicans, who glad handed the money out to Wall Steet, said "No fucking way" to the Auto Industriy - 80% of which of the money was returned to the Treasury, and the jobs were saved at a time when they were most needed. Of course the Republican Party was pissed about this because Romney and the rest of the super wealthy stood to profit handsomely from those bankrtupcies.
In every Republican economic crash, including Trump's Covid Crash, the rich have gotten a whole lot richer, and the poor and the middle class has gotten a whole lot poorer.
Don't know about your stupid ass but I'm doing well as is everyone I know.
No one gave wall street money. Any money companies keep is because they use the loop holes the Govt. has provided.
You sure don't know facts very well.
Quantitative Easing was indeed injecting billions (probably Trillion) into Wall Street,
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Barack Obama says banks paid back all the federal bailout money
On the campaign trail, President Barack Obama has spoken much more of the bailouts for auto companies than their bank brwww.politifact.com
Obama lied. Your link also has absolutely nothing to do with Q.E. You educate yourself.
Okey Dokey.