Gold Supporting Member
- Sep 25, 2011
- Reaction score
- Fredericksburg, VA
The Too Big to Fail Banks had to be recapitalized or our financial industry would have collapsed.The political fallout of the word "bailout" really clouded what was happening. We came damn close to seeing the whole thing come down. Maybe it's better that it went that way - if more people knew what was actually happening, there would have been serious panic.Finance not my domain, but do remember both Obama & Mc Cain running to Washington too see what was going on neither one was president at that time. many went down, many lost a lot. what ever was done had too be done in haste. what a horrible position for a newly elected president too be in.
Obama's QE was a perfect fix, but the underlying problem of these damned banks and the removal of Glass-Steagal still remain.