Obama's socialism killing the economy already proven

Discussion in 'Economy' started by Evangelical, Apr 26, 2009.

  1. Evangelical
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    Evangelical Member

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    If you want to know why banks aren't lending money to people, thus killing the economy, just read the following:

    Calling Out Politically Connected Banks - Forbes.com

    Yes, it's Obama's fault, for "changing" Washington by giving Washington Insiders and Lobbyists even MORE CONTROL over the Government than they already had.

    The best part is where Banks that are able to lend are now unable to lend because the Federal Reserve is requiring those banks to pay more fees to the Fed's for insurance, in order to finance the "bail-outs".

    There clearly would not be a "credit crisis" if successful banks were allowed to fill the void left by defunct and weaker banks which just happen to put their money to good use in lobbyists.
     
    Last edited: Apr 26, 2009
  2. midcan5
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    midcan5 liberal / progressive

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    You haven't a clue what socialism even is, and blaming Obama for bank stupidity just shows how low you losers can go.

    here's a simple why
    Why are Banks not Lending? | Economics Blog

    "But in Westchester at least one bank is not in such trouble. While Citibank, Wells Fargo and Bank of America are sagging with foreclosed properties they can’t unload in a stagnant market, Community Mutual Savings Bank, which has its headquarters here and has only five branches in the county, has not had a foreclosure in three years.

    Its officers say they achieved that record by running their bank the old-fashioned way: When people come in looking for a loan, they have to pass a common-sense test. After all, how many of us would lend money to people we weren’t sure could pay it back? Maybe to a brother-in-law, but that’s about it."

    http://www.nytimes.com/2009/04/26/nyregion/westchester/26colwe.html?ref=business
     
  3. Lycurgus
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    Lycurgus Who is Obama, really...??

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    In terms of Obama, socialism and our nation, he will rip us apart at our heart, not our pockets. The financial situation is everyone's fault, no one in Washington totally owns it. Obama's damage to this nation will run much deeper! And let us never forget his accomplices.
     
  4. MaggieMae
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    MaggieMae Reality bits

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    The reason the major financial institutions and banks failed in the first place was because they over-leveraged: their liabilities far exceeded their assets. Thus, they had no money left to issue credit to ANYONE, including smaller banks and investors. What part of that don't you get?

    It's hardly "socialism" that the Obama administration is trying to prop up those institutions in order to get credit moving to enable PRIVATE ENTERPRISE to move ahead. Where is that "socialism"?? If the banks had been nationalized, yes, that would have been considered "socialism."
     
  5. DavidS
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    DavidS Anti-Tea Party Member

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    Yes! The credit market froze last September after the demise of Lehamn Brothers and the collapse of our housing market BECAUSE everyone knew Obama was going to get elected!! Yes! This is all Obama's fault even before he elected!! In fact, the Great Depression of the 1930s? Obama's fault.
     
  6. mash107
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    mash107 Active Member

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    Of course it's not Obama's fault... but continuing the same failed policies that Bush and prior Presidents that got us into this dilemma is a way to ensure we become a banana republic. Seeing how excess spending and debt under Bush was so devastating, as well as allowing the Federal Reserve to expand the money supply at will, is exactly why we're in this mess and continuing that under a new President and hoping for a different result is ludicrous. Policies do not have magically different effect if they're enacted by a different political party, alright?
     
  7. Toro
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    Toro Diamond Member

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    I completely agree with everything that is written in the article but to say that this somehow proves that Obama is "killing the economy" demonstrates the utter cluelessness of the OP.
     
  8. WorldAHope
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    WorldAHope Ready to Rock n' Roll

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    All they know how to do is repeat the slogans du jour, as directed by their illustrious do nothing leaders - "socialist" one day, "banana republic" the next....
    and they think by chattering away they are actually doing something.

    Notice a key difference between Obama and the Obamahater noise makers -
    He is actually doing stuff, taking real action to get things dones,
    and they are not only NOT doing anything, they are refusing to do anything to help
    address the nation's probelems.
    All they want to do is yammer away at how bad Obama is.

    Ignorant Kibbutzers. "Expert" spectators leaning on the fence and complaining to their lazy ass buddies about the men who are hard at work.

    Not gonna promote your agenda doing nothing but kibbutz and complain.
    Not gonna win ONE election that way.
    They just don't seem to get it.
    The nation is passing them by, totally ignoring every pipsqeaky sound they make.
    I think they don't realize how irrelevant and useless and unwanted they have made themselves.
     
  9. sarahgop
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    sarahgop Gold Member

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    obamas damage is long term. he will continue to spend and tax more and more.
     
  10. 007
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    007 Charter Member Supporting Member

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    And it's not sustainable... but don't try and tell the obamabots that. They think he's "helping." I guess pretending everything is just fine makes them feel good, and to a liberal, everything is about feeling good, even if they have to lie to themselves to accomplish that.

    Oblahma inherited a shitty situation, and then he made it worse... much, MUCH worse. The man is in WAAAAAAY over his head. Whoever thought a little junior senator/community organizer with ZERO experience at anything financial was smart enough to FIX our country's economy has to be one stupid sons a bitch.
     
    Last edited: Apr 26, 2009

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