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Why did Obama support bailing out the banks if he's a class warrior?

A

Anarchist420

Diamond Member
That's what I'd like to know. The same question applies to the European Crisis. If Europe is so egalitarian, then why do so many of them not want Greece to repudiate their debt? It would help the economy in the long run provided the governments didn't interfere in the economy, and Banks would never again be "too big to fail" If the governments didn't interfere there would be hyperdeflation of the Euro and the Euro would be the strongest currency in the world. People who had saved their Euros could buy out all of China's manufacturering companies.
 
Why did he immediately fill his cabinet positions with wallstreet guys?

He's a full of shit status quo hypocrite as has been established here dozens of times.
 
Anarchist420 said:
That's what I'd like to know. The same question applies to the European Crisis. If Europe is so egalitarian, then why do so many of them not want Greece to repudiate their debt? It would help the economy in the long run provided the governments didn't interfere in the economy, and Banks would never again be "too big to fail" If the governments didn't interfere there would be hyperdeflation of the Euro and the Euro would be the strongest currency in the world. People who had saved their Euros could buy out all of China's manufacturering companies.
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The scenario you outlined for the euro, is exactly what happened to Germany in 1920 with hyper inflation making the mark worthless. We all know what that lead to.

As for bailing out the banks, the TARP fund was Bush and his cronies paying back their masters.

http://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program

And here is where it was spent

http://www.visualeconomics.com/a-detailed-look-at-tarp/
 
So you apply an incorrect label to Obama and then pretend to be concerned that he isn't acting according your misapplied label? How dumb can you be? If you had chosen to correctly label Obama as a corporatist whore and tool of the monied class then there would be no conflict between label and deed.
 
IronWing said:
So you apply an incorrect label to Obama and then pretend to be concerned that he isn't acting according your misapplied label? How dumb can you be? If you had chosen to correctly label Obama as a corporatist whore and tool of the monied class then there would be no conflict between label and deed.
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Good point. I was actually thinking about doing that, but I figured it would be unnecessary.
 
eskimospy said:
Why do you keep posting here? That's what I'd like to know.
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Good question. I guess because I currently have little else to do. I'll probably be out of these forums once I upgrade my computer and get some new games. I should have all the parts within the next few weeks, so I should build it 3 weeks from now. I'd like a new monitor, but I may not have the money for that also.
 
Anarchist420 said:
Good question. I guess because I currently have little else to do. I'll probably be out of these forums once I upgrade my computer and get some new games. I should have all the parts within the next few weeks, so I should build it 3 weeks from now. I'd like a new monitor, but I may not have the money for that also.
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Or you could spend that money on a library card or some other hobby.
 
Capt Caveman said:
Ask your mom and dad.
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Okay, that made me laugh.

Obama loaned the banks money to keep them from going under. Failing banks hurt everyone. Most "class warriors" aren't bright enough to understand the consequences of seizing all the assets and "fairly" redistributing them; Obama is. He'll still work on his redistributionist plans to incrementally take more money from those who earned it and give it to those who did not, to flatten wealth distribution, but he won't cut off his nose to spite his face. Duh!
 
werepossum said:
Okay, that made me laugh.

Obama loaned the banks money to keep them from going under. Failing banks hurt everyone. Most "class warriors" aren't bright enough to understand the consequences of seizing all the assets and "fairly" redistributing them; Obama is. He'll still work on his redistributionist plans to incrementally take more money from those who earned it and give it to those who did not, to flatten wealth distribution, but he won't cut off his nose to spite his face. Duh!
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Failing banks actually help people who aren't in debt unless the government tries to bail the debtors out.
 
xj0hnx said:
Reading your linked article, the correct short answer is that he is spineless, and unable to make any actual hard decisions.
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Sounds about right. That would come from his huge lack of executive or political experience before becoming president.

Having a slimy politician may be bad, but you want one who knows how the game is played and takes it head on.
 
HendrixFan said:
Sounds about right. That would come from his huge lack of executive or political experience before becoming president.

Having a slimy politician may be bad, but you want one who knows how the game is played and takes it head on.
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no if they know how the game is played, they play the game and get rich at the expense of the little people
 
Lithium381 said:
no if they know how the game is played, they play the game and get rich at the expense of the little people
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If they don't know how the game is played you end up like Obama taking it from all comers. If you know how to play politics, you can play it to your advantage. Karl Rove did it well, so did Bill Clinton. Were they in bed with the bad guys? Of course, they have to be. But at least they got concessions based on their ideology along the way.
 
I know it's unpopular to speak the truth, but the bank bailout was actually necessary. Everyone would have been a lot worse off without it.

The populist rage over the bailout is misplaced. It was the conditions that led to the necessity of the bailout that are the problem. There should never have been any institutions who were too big to fail.

- wolf
 
Obama is NOT a class warrior, or if he is, he's not looking out for the interests of the lower classes.

Has he ended mass immigration? No. Has he ended the H-1B and L-1 visa programs? No. Has he ended foreign outsourcing? No.
 
woolfe9999 said:
I know it's unpopular to speak the truth, but the bank bailout was actually necessary. Everyone would have been a lot worse off without it.

The populist rage over the bailout is misplaced. It was the conditions that led to the necessity of the bailout that are the problem. There should never have been any institutions who were too big to fail.

- wolf
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I think when people bitch about the bailouts it has alot more to do with the fact that no new regulations were put in place, muchless working on convicting those responsible for the fraud they committed. Or maybe even breaking up "too big to fail".
 
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