Congratulations, Mr. President

[Katzndogz]

Anyone who has a good idea for a business would do well to leave the US first, renounce citizenship second THEN start the business.

 

[Sallow]

Anyone who has a good idea for a business would do well to leave the US first, renounce citizenship second THEN start the business.

Good idea.

They can move to Singapore.

 

[BDBoop]

Anyone who has a good idea for a business would do well to leave the US first, renounce citizenship second THEN start the business.

Good idea.

They can move to Singapore.

Can't help wondering if FB didn't fizzle because everybody knew those idiots had plans to take the money and run.

 

[BluePhantom]

Well let's go through this one.

What would I have done? The auto bailout for sure.

I would have let them go broke. The idea that massive numbers of people would have lost jobs is total crap. Someone would have bought them and kept the plants open. Now sure perhaps GM is suddenly owned by Toyota but it's not like they will shut down existing facilities. Additionally, it's a good lesson to American manufacturing not to build crap products that no one wants to buy.

You're a moron. If anyone were interested in buying up GM, they would have done so when their stock was down to chump change.

Uh uh.....so you think foreign automakers will not buy an established corporation with existing production facilities that they can market as "American made". Might I suggest you ask Chrysler and Fiat about that.

 

[Dick Tuck]

Well let's go through this one.




I would have let them go broke. The idea that massive numbers of people would have lost jobs is total crap. Someone would have bought them and kept the plants open. Now sure perhaps GM is suddenly owned by Toyota but it's not like they will shut down existing facilities. Additionally, it's a good lesson to American manufacturing not to build crap products that no one wants to buy.

You're a moron. If anyone were interested in buying up GM, they would have done so when their stock was down to chump change.

DT, please. I am seriously making an effort to keep this thread free of personal attacks.

Good luck, when gutter snipes like BluePhantom neg rep people for putting out compelling information.

 

[iamwhatiseem]

I wouldn't have have handed the very entities that played a huge role in causing the crash - $trillions of taxpayer dollars so it would improve the economy for a couple years.
Which is what he did.
Bush did it first.
Obama dis it second.
Now - will he do it again before November if the market sours?
My bet - is yes.
And if he does - what will you think of it?

Obama wasn't elected.

You were.

What would you do.

Fine...I would fire Larry Summers who is arguably the biggest shark in Washington. I would never - ever have that snake as an adviser for sh*t.
I would not have hired the tax-cheat and Wall Street buddy Tim Geithner.
Rahm Emanual - stays in Chicago with the thugs he was trained by.
I would pass emergency legislation giving temporary power to the SCOTUS to investigate the role the FED and the SEC played in the collapse, provide a detailed report and act on it.
Ben Bernanke - gone.
Return Fannie Mae to it's original role and once again outlaw it's ability to purchase private mortgages.
Raise the interest rates slowly over a 5 year period.
Ditch the practice of giving low income people education grants THAT DO NOT HAVE THE MERIT to go to college. Instead invest in vocational training and put a panel of hard conservatives in charge of it.

Invest in infrastructure to create jobs...not just talk about it...not lie about it saying I did...but actually do it, and make sure they are needed. Again place hard conservatives in charge of it and in front of the entire nation in a press conference tell them "everyone will be watching, if the least sign of corruption raises it's head it will be your heads that are cut off".

That is a good start.
I would

 

[BDBoop]

You're a moron. If anyone were interested in buying up GM, they would have done so when their stock was down to chump change.

DT, please. I am seriously making an effort to keep this thread free of personal attacks.

Good luck, when gutter snipes like BluePhantom neg rep people for putting out compelling information.

Well, ya kind of deserved it for doing the attack thing instead of the OP thing.

 

[Dick Tuck]

Well let's go through this one.




I would have let them go broke. The idea that massive numbers of people would have lost jobs is total crap. Someone would have bought them and kept the plants open. Now sure perhaps GM is suddenly owned by Toyota but it's not like they will shut down existing facilities. Additionally, it's a good lesson to American manufacturing not to build crap products that no one wants to buy.

You're a moron. If anyone were interested in buying up GM, they would have done so when their stock was down to chump change.

Uh uh.....so you think foreign automakers will not buy an established corporation with existing production facilities that they can market as "American made". Might I suggest you ask Chrysler and Fiat about that.

OK, so why didn't they when the stock was going for pennies?

 

[BDBoop]

I wouldn't have have handed the very entities that played a huge role in causing the crash - $trillions of taxpayer dollars so it would improve the economy for a couple years.
Which is what he did.
Bush did it first.
Obama dis it second.
Now - will he do it again before November if the market sours?
My bet - is yes.
And if he does - what will you think of it?

Obama wasn't elected.

You were.

What would you do.

Fine...I would fire Larry Summers who is arguably the biggest shark in Washington. I would never - ever have that snake as an adviser for sh*t.
I would not have hired the tax-cheat and Wall Street buddy Tim Geithner.
Rahm Emanual - stays in Chicago with the thugs he was trained by.
I would pass emergency legislation giving temporary power to the SCOTUS to investigate the role the FED and the SEC played in the collapse, provide a detailed report and act on it.
Ben Bernanke - gone.
Return Fannie Mae to it's original role and once again outlaw it's ability to purchase private mortgages.
Raise the interest rates slowly over a 5 year period.
Ditch the practice of giving low income people education grants THAT DO NOT HAVE THE MERIT to go to college. Instead invest in vocational training and put a panel of hard conservatives in charge of it.

Invest in infrastructure to create jobs...not just talk about it...not lie about it saying I did...but actually do it, and make sure they are needed. Again place hard conservatives in charge of it and in front of the entire nation in a press conference tell them "everyone will be watching, if the least sign of corruption raises it's head it will be your heads that are cut off".

That is a good start.
I would

Okay! If I ignore the bold/red, you're off to a good start.

 

[ladyliberal]

I would probably have done much what Obama did. Where I differ from him I have the benefit of hindsight, of course.

- I would have pushed financial regulation harder.

In what regard? I mean specific to what and how? Using what model or plan?

- I would have attached more strings to the bank bailouts so that banks were actually required to lend money and therefor stimulate the economy.

Let me just play Devil's advocate here for a second. Yes I agree that the problem is not that "there is no money" it's that "the money isn't moving" and the failure of banks to lend is a big part of that. But...when you boil it all down the banks failed because they had no assets. If they start lending and people cannot repay those loans (i.e housing market), they have used their stimulus funds and still have no assets. Yes they may have properties that represent an asset, but that does them no good as those properties are generating no revenue and can't be easily converted into cash.

So how would you deal with that?

I'm afraid I don't have specifics for you (I haven't even formed my presidential exploratory committee ). Broadly speaking, there are a few goals I would have:

- Mitigate the moral hazard present when the implicit promise of a bailout encourages a financial entity to take bad risks. This can be done by regulating what kind of risks they can take (i.e., setting limits on leverage) and by enacting policies that limit the size of firms.

- Aggressively pursue enforcement under existing laws by giving more funds and a more aggressive mandate to the SEC.

- Make regulations focus on the types of transactions rather than the type of institution, so that an insurance firm that acted like an investment bank would essentially be regulated like a bank.

These would make it harder to do finance, but I think that's fine. While finance is important, it shouldn't be such a large sector of the economy as it is currently. Much of it serves no social good whatsoever.


As to encouraging lending, why give money to the banks at all if they aren't going to lend it? Yes, more lending might be risky, but I think the risk would be acceptable. One reason that banks don't lend is because they expect the economy to stay depressed, and they expect that because no one is lending money. If several banks were forced to lend the economy would (hopefully) pick up and they could end up making money. Even if the lending led to risky loans that lost money I don't think the banks would have much to complain about-- after all the money they would lose would come from the government. I don't think more lending would necessarily involve bailing out underwater residential mortgages. My impression is that there were plenty of potentially good investments in other sectors that had difficulty in securing credit.

 

[Dick Tuck]

DT, please. I am seriously making an effort to keep this thread free of personal attacks.

Good luck, when gutter snipes like BluePhantom neg rep people for putting out compelling information.

Well, ya kind of deserved it for doing the attack thing instead of the OP thing.

So you're unaware that Republicans have a coordinated strategy to deny Obama any legislation that might lead to our economy improving?

 

[BluePhantom]

He didn't inherit a disaster; he asked for it.

Exactly. He wanted the turd. He campaigned for it. He won. The turd is larger now. The buck stops with the Turd Maker in Charge.

"Our economy is fundamentally sound" - Bush in the summer of 2008

Wasn't that just before he bailed out 5 of our largest banks?

That was McCain dip shit and he was talking about American ingenuity, our workforce, etc. Embarrassing statement nonetheless given what happened next, but you might want to attribute the quote to the right person to avoid looking like an ass.

 

[Sallow]

Anyone who has a good idea for a business would do well to leave the US first, renounce citizenship second THEN start the business.

Good idea.

They can move to Singapore.

Can't help wondering if FB didn't fizzle because everybody knew those idiots had plans to take the money and run.

It was one guy..that took the money and ran. And he basically didn't add much to Facebook other then to get a check.

 

[BluePhantom]

You're a moron. If anyone were interested in buying up GM, they would have done so when their stock was down to chump change.

DT, please. I am seriously making an effort to keep this thread free of personal attacks.

Good luck, when gutter snipes like BluePhantom neg rep people for putting out compelling information.

Oh stop whining. Focus on the question in the OP instead of crying about Republican obstructionism in regards to education and you won't get neg repped.

 

[BDBoop]

Good idea.

They can move to Singapore.

Can't help wondering if FB didn't fizzle because everybody knew those idiots had plans to take the money and run.

It was one guy..that took the money and ran. And he basically didn't add much to Facebook other then to get a check.

One is running. The rest are pulling this maneuver.

Facebook tax loophole draws fire - CBS News

 

[Sallow]

Exactly. He wanted the turd. He campaigned for it. He won. The turd is larger now. The buck stops with the Turd Maker in Charge.

"Our economy is fundamentally sound" - Bush in the summer of 2008

Wasn't that just before he bailed out 5 of our largest banks?

That was McCain dip shit and he was talking about American ingenuity, our workforce, etc. Embarrassing statement nonetheless given what happened next, but you might want to attribute the quote to the right person to avoid looking like an ass.

Erm..

Bush: Troubled financial system is basically sound

President Bush said Tuesday the nation's troubled financial system is "basically sound" and urged lawmakers to quickly enact legislation to prop up mortgage giants Fannie Mae and Freddie Mac.
<snip>
"I think the system is basically sound, I truly do," Bush said. "I understand there's a lot of nervousness. The economy is growing. Productivity is high. Trade's up. People are working _ it's not as good as we'd like. And to the extent that we'll find weakness, we'll move."

 

[BluePhantom]

You're a moron. If anyone were interested in buying up GM, they would have done so when their stock was down to chump change.

Uh uh.....so you think foreign automakers will not buy an established corporation with existing production facilities that they can market as "American made". Might I suggest you ask Chrysler and Fiat about that.

OK, so why didn't they when the stock was going for pennies?

Well in order to buy majority stock in a major corporation (majority being the key word here), the corporation has to be willing to sell enough shares for someone to gain a majority (unless it's a hostile takeover which can be extremely expensive and in some cases subject to government intervention depending on the industry in question). If GM gets bailed out and avoids bankruptcy they are not forced to sell that many shares now are they? If they are bankrupt, they would have had to and someone would have bought them.

 

[Dick Tuck]

Exactly. He wanted the turd. He campaigned for it. He won. The turd is larger now. The buck stops with the Turd Maker in Charge.

"Our economy is fundamentally sound" - Bush in the summer of 2008

Wasn't that just before he bailed out 5 of our largest banks?

That was McCain dip shit and he was talking about American ingenuity, our workforce, etc. Embarrassing statement nonetheless given what happened next, but you might want to attribute the quote to the right person to avoid looking like an ass.

Bush Says Economy Sound As Inflation Rises To Record Levels

Wednesday, July 16, 2008


With three more financial outlets collapsing under the economical meltdown last week, queues of angry people outside banks with no access to their money, inflation at its highest rate for 27 years and scores of economists predicting a recession may tip into a full blown depression, president Bush reacted by declaring that the economy is still fundamentally sound.

"I think the system basically is sound, I truly do," Bush said. "And I understand there's a lot of nervousness. . . . But the economy is growing, productivity is high, trade is up, people are working. It's not as good as we'd like, but . . . to the extent that we find weakness, we'll move."

Sound economy?????

 

[BDBoop]

Refresher:

It's January 20th, 2009. You have just been sworn in as President of the USA.

You have inherited a disaster. Keep in mind that you are whatever candidate you voted for, and you have the House and Senate he had on that date.

Hopefully you know enough about what was going on at that time that I don't need to refresh your memory. Unemployment was 7.8%, the big banks had just come undone, and the auto industry was one step from the tank.

What would you do.

This should help refresh your memory.

Banking Collapse of 2008: Three weeks that changed the world | Business | The Observer

 

[BluePhantom]

"Our economy is fundamentally sound" - Bush in the summer of 2008

Wasn't that just before he bailed out 5 of our largest banks?

That was McCain dip shit and he was talking about American ingenuity, our workforce, etc. Embarrassing statement nonetheless given what happened next, but you might want to attribute the quote to the right person to avoid looking like an ass.

Erm..

Bush: Troubled financial system is basically sound

President Bush said Tuesday the nation's troubled financial system is "basically sound" and urged lawmakers to quickly enact legislation to prop up mortgage giants Fannie Mae and Freddie Mac.
<snip>
"I think the system is basically sound, I truly do," Bush said. "I understand there's a lot of nervousness. The economy is growing. Productivity is high. Trade's up. People are working _ it's not as good as we'd like. And to the extent that we'll find weakness, we'll move."

The "fundamentally sound" quote was McCain's. "Basically sound" was Bush. If someone is going to use a quote that means exact words from the person who said it. Technically I am correct, however the essential message is the same and I won't split hairs over it. I stand corrected.