From: Jack Hollis on
On Mon, 23 Nov 2009 05:00:38 GMT, assimilate(a)borg.org wrote:

>I'm sure something did some good. I imagine the saving of AIG was probably
>necessary. However the morass of pork and handouts to Democratic interests
>that was the stimulus and the unaccountability with which TARP funds have
>allocated have both made a mockery of reprentative government.

As much as I hate to say it, the bailout was necessary. If AIG
defaulted on its obligations, there would have been a cascade of
failures throughout the financial world. It wasn't a case of too big
to fail, but rather too important to fail. In 1929, the government
let the banks fail and look what happened.
From: assimilate on

On 23-Nov-2009, Jack Hollis <xsleeper(a)aol.com> wrote:

> In 1929, the government
> let the banks fail and look what happened.

that was not what caused the Great Depression Jack. The economy was trying
to come back when Smoot-Hawley was passed: nail-coffin

--
bill-o
From: assimilate on

On 23-Nov-2009, William Clark <clark(a)nospam.matsceng.ohio-state.edu> wrote:

> Which is pretty much the same collection of worn and cliched sentiments,
> and appeal to the lowest common denominator, that Hitler used in the
> Germany of the 1930's.

Godwin's law! this thread is done and Clark loses!

--
bill-o
From: assimilate on

On 23-Nov-2009, Jack Hollis <xsleeper(a)aol.com> wrote:

> There's no doubt that
> it created some jobs, but they were jobs at the public expense. The
> idea is to create private sector jobs that generate tax revenue for
> the government.

Yes in my state 1 whole job was "saved or created" at a cost of $2.29B in
the 00th congressional district. It must have been Mobutu's job!

--
bill-o
From: BAR on
In article <4b09ec2a$0$5111$9a6e19ea(a)unlimited.newshosting.com>,
nobrac(a)nospam.tampabay.rr.com says...
>
> On Mon, 23 Nov 2009 00:53:22 +0000, assimilate wrote:
> > On 22-Nov-2009, Carbon <nobrac(a)nospam.tampabay.rr.com> wrote:
> >
> >> You are unqualified to pass judgment on his economic policies.
> >
> > How so? Economics isn't rocket science
>
> Neither is rocket science, once you know how it works. Bert was trying
> to argue that the country is in worse shape than it would have been if
> Bush and Obama had not bailed out the banking industry. This, quite
> obviously, is a complicated subject. While I guess the certainty you and
> Bert share is nice, it's not the same thing as knowing the truth.

Readem and weap:

http://www.cnbc.com/id/34040009

http://www.spiegel.de/international/world/0,1518,662822,00.html