This Federal Bailout Proposal is a Disaster | 21 comments (21 topical, 0 hidden)
What do you think of this (none / 0)
Someone made an interesting comment at Democratic Underground regarding the bailout:

"Think about it. We are basically in the same mess as we were in 1931. And for much the same reasons: Corporate Greed.

So we are about to elect Obama who has the potential to be our generations FDR.

And if there's anything we need right now it's another New Deal

But this time the crooks turned the tables on us pre-emptively.

They come up with this bailout to:

This time instead of bailing out the people with WPA and other public works programs and restructuring and regulations to prevent the abuses again.

If we do this bailout there will be no money left for Obama's promises.

No Money for Green Jobs and the like.

This time we spend even more money BAILING OUT THE CROOKS!

And putting us in hock to them for generations.

They are heading our New New Deal off at the pass".

by Tom Hanc on 09/20/2008 11:47:06 AM EST

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When we say Great Depression... (none / 0)

We're talking about letting hundreds, maybe thousands of institutions fail.  We're talking about millions, maybe hundreds of millions, of Americans losing their savings.  We're talking about people lining up outside banks trying to get their money out, but there is no money.  We're talking about nobody getting a new mortgage or a car loan for years even for the few who could afford such luxuries and houses and cars.  GDP falling by 30 percent, Unemployment rising to 25 percent. 

That's not the situation we want Obama to preside over.  Obama wouldn't be FDR.  Bush would be Coolidge, and Obama would be Hoover.  It's not good for anybody to let our financial system crumble; that's why we can't let it fail. 

We don't need a depression to get progressive policies implemented.  We are on the crusp of doing that right now.  What will help us more than anything is a healthy economy.  

by publius on 09/20/2008 01:02:02 PM EST

[ Parent ]
I don't know that we are on the cusp (none / 0)
right now.

Watch the Kevin Phillips interview with Bill Moyers that was posted in the forum, it's very sobering and fair.

by Tom Hanc on 09/20/2008 01:15:11 PM EST

[ Parent ]

This Federal Bailout Proposal is a Disaster | 21 comments (21 topical, 0 hidden)