Let's run through the list shall we?
- We gave AIG $85 billion, then we gave them another $30b, then another $20b and that wasn't the end...
- We then bailed out the entire banking industry for $700 billion. At least half of that money has evaporated and never lent out to people who needed it and the credit markets never really opened up. More and more banks are failing months after this bailout.
- Then we bailed out Detroit... and here is a BIG shocker: They want more! Whoa! Who woulda thunk it?!
- Then Obama and Tim Geithner announced their latest bank strategy and global markets went in the crapper.
- Now Obama has signed his "Stimulus Package" into law and the global market again have again sunk to 10-year lows.
Let's not also forget that we have pissed off Europe and Asia more than any damage caused by an Iraq invasion. The difference is that these bailouts and this horrible irresponsible fiscal and monetary policy actually effects European and Asian pocketbooks.
Unemployment is higher and confidence is lower (thanks in no small part to Dr. Doom Obama)
It was requested that we give Obama a chance to govern before we criticize. His methods, his appointments, his strategy, his ideas are getting a cool reception and pissing off lots of people off. I honestly don't even hear CNN or Democrats really enthused by anything. More like a lot of begrudging acceptance of an imperfect stimulus bill and that at least something was done.
So keeping bailing! The water is flooding in faster now!
I read a bit about AIG yesterday. They've paid back some of the money, but only because they've been selling off all the companies they own. Couldn't they have done that and not borrowed any money from the US? I don't know, I just don't get it.
ReplyDeleteAnd don't even get me started on Detroit. Fuck them.
Yeah, Detroit was supposed to reach a deal with the UAW, that was required in order to get more bailout money... and shockingly they couldn't get a deal done.
ReplyDeleteImagine that? Union workers who's companies are sinking fast primarily because of their union can't get a deal done. So focked up... what is wrong with this country.