This is fun.
Because it puts on display you folks live in a completely alternative universe.
As to your points.
1. There was no fail. What happened was nothing short of a miracle. You folks don't seem to understand the scope of the economic meltdown. Every financial institution in America was about to collapse. Lehman was just the beginning.
Name one bank that was crashing.... that didn't crash? I'll help you. There was none.
Every bank that was failing before the bailout, failed after the bailout.
You don't understand how the bailout worked. The bailout actually didn't "bail out" a single bank. It bailed out the people who gave money to those banks. How does that help our economy?
The two biggest bond holders of Lehman Brothers, were Wells Fargo, and Asian banks.
Did Wells Fargo crash because the had to take a Write-Down on Lehman Brothers? Did the Asian banks crash, the largest of which was in China? Do you see them crashing?
If we had 'bailed out' Lehman Brothers, we would have paid Wells Fargo and the Asian banks, back in full, with US tax dollars.
I understand you are ignorant of how the bailout worked, and how bankruptcy works. But anyone with any knowledge knows the bailout didn't do anything except saddle American tax payers with trillions in debt. The economy didn't collapse when Lehman Brothers went into bankruptcy. The whole thing was a lie to convince ignorant lemmings that government saved them. It didn't.
Now you are just making up crap. Prove it. Do you know how many companies file bankruptcy and emerge back in business?
Cisco Systems went into bankruptcy, without a single penny of tax payer money. Did it dissolve? No?
Category:Companies that have filed for Chapter 11 bankruptcy - Wikipedia, the free encyclopedia
Look at all those. Dozens of those companies all still in operation. Abercrombie & Fitch. Alliance Tire Company. Kmart. Delta Air Lines. Eastman Kodak. Eddie Bauer.
All of them, not a penny of wasted tax payer money. Again, the companies that 'dissolve', are companies with no viable business. Meaning there was no aspect of the business that was profitable.
GM, even during the worst of the recession, was the number ONE US auto manufacture.... and here we have Captain Forum poster "Sallow", knows that they intended to dissolve the company even though it was the top auto manufacturer in the largest economy in the world......... No... you are ignorant.
Prices have increased faster than they EVER had before. Back in 2006, I got a health insurance policy in Ohio, for $57 a month. Today, the absolute cheapest policy I can get, is $250. Thanks to the ACA. Costs have not been staggered, and people are not getting insurance, I know I am one of them.
There is no regulation possible, to prevent banks from taking bad risks. Banking itself, is naturally a risk based business. In order to eliminate risk, you'd have to eliminate banking.
When the government bails out the bond holders, the bond holders have no reason to exercise prudence. Without the need for prudence, the bank who offers the highest ROI, will always get business.
After Bear Stearns failed, Lehman Brothers actually GAINED money invested into their firm, because the bond holders had nothing to lose. If the high risk investments paid off, they got a huge return on their money. If the investments failed, they believed the government would bail them out.
In Economics, we call that 'moral hazard'. You setup incentives for failure. No amount of regulation is going to stop banks from making bad choices. Allowing the bond holders to lose their money, will instil prudence to invest in banks acting prudently.
Remember, Canada has the least regulated banking system in the world. They had NO FAILURES.
You just don't know what you are talking about. There is nothing to debate here, because you simply don't know what you are talking about.
In 1920, Calvin Coolidge had a much greater economic recession than Obama faced, and all he did was cut taxes, and cut government spending. The economy roared back to the roaring 20s. Bush in 2000-1, faced a recession, and all he did was cut taxes. And by 2004 the economy was in full swing.
In 1930, Hoover and then FDR, both raised taxes and increase spending. Similarly, Bush in 2008, and Obama in 2009, increased spending and programs. The results in 1930s, was a recession, dragged out to a depression. In the 2008-9, it was a recession dragged out into the great recession.
Your system never works. Hasn't throughout history, and isn't today.
Which we should have gone into Iraq anyone. In fact, we should have done it when Clinton wanted to, but he was too spineless. Yes he did hunt for Osama. You are just flat out liar, if you think he didn't. It was the CIA under his direction, that eventually found him after Obama became president. Only an idiot would think otherwise.
You just rewrite history don't you? Just make it up as you go.
8. Bush created a huge mess in Iraq. It was a self inflicted wound. And NOTHING was "crushed" there. What happened was the "insurgents" were paid off. And there never would have been an insurgency had Bush not disbanded the Iraqi army, putting 300K well trained war fighters out of work.
Yeah, and the only reason they were paid off, is because we were slaughtering them after the Surge.
And yes, I fully agree that disbanding the army was a bad plan. No president makes no mistakes. Doesn't matter. Finishing Iraq was the right thing to do, and without Bush, Obama would never have completed the mission.