I do agree that the banking crisis was mishandled poorly. However, the majority of the aspects of the bungling were started under Bush. And yes, there was a lack of oversight.
Obama supported the Banking Stimulus Package, which did indeed add additional funds to the banks. One of the things the Obama Administration did was force audits of all of the big banks and started establishing new rules for what they needed to do in the future.
Did this hurt us or help overall? Hard to say at this point.
You have valid points about inflation. It is certainly a valid concern. However, I’ve seen a quick turnaround in the business area in Seattle just in terms of the job market. I think some of that can be traced back to the administration’s actions.
Government ownership of corporations is not fascism, it is socialism.
The United States has many socialistic programs that I’ve personally benefited growing up such as welfare and social security. Would GM have filed and then come out of the crisis solvent?
I doubt it.
Would we have been better off with GM just dying?
Hard to say just yet. If GM can be turned around in the next couple of years, then it is a good decision. If not, then it is a massive error.
I don’t think we can judge until we can see the success level of the decision yet. Right now everything is just theoretical.
I see positive steps being taken. Maybe my standards are so low because of Bush, but as long as I see work towards the positive, I’ll keep supporting him.
no subject
Obama supported the Banking Stimulus Package, which did indeed add additional funds to the banks. One of the things the Obama Administration did was force audits of all of the big banks and started establishing new rules for what they needed to do in the future.
Did this hurt us or help overall? Hard to say at this point.
You have valid points about inflation. It is certainly a valid concern. However, I’ve seen a quick turnaround in the business area in Seattle just in terms of the job market. I think some of that can be traced back to the administration’s actions.
Government ownership of corporations is not fascism, it is socialism.
The United States has many socialistic programs that I’ve personally benefited growing up such as welfare and social security. Would GM have filed and then come out of the crisis solvent?
I doubt it.
Would we have been better off with GM just dying?
Hard to say just yet. If GM can be turned around in the next couple of years, then it is a good decision. If not, then it is a massive error.
I don’t think we can judge until we can see the success level of the decision yet. Right now everything is just theoretical.
I see positive steps being taken. Maybe my standards are so low because of Bush, but as long as I see work towards the positive, I’ll keep supporting him.