Quote Originally Posted by firstandten View Post
Great points as usual Lorax



Stimulus bills are the SOP for countries wanting to jumpstart their economy. Just Google and your will find numerous countries and their stimulus packages namely China. If Obama is to be faulted its because he didn't spend enough.



I believe the reason he didn't is because of the interconnected nature of the AIG's of the world would have caused a world wide financial crash. We are not just talking about us but countries that deal with us on a financial basis would have been burned also. Its not like a regular bank where it could go bankrupt on Friday and the Fed would take it over and it would be open under a different name on Monday and the depositors money would be safe. With a world wide crash this recession most definitely would turn into a depression
I'd say you're probably right, so perhaps Obama could have just nationalized the existing banks that were in need of TARP funding, and that would have been a better result than "business as usual" which is what's happening now.

Today it was announced on CNN among others, that Citibank is paying 50 million in bonuses to it's executives out of the funding we, the taxpayers gave them. This is just another example of the tone-deaf, and frankly, fascist tactics of a disconnected Wall Street.

This should not be allowed. Citibank is one of the banks that should have been nationalized.

I know more people shedding their investments in, and deposits with Citibank due to issues like bogus withdrawls, overcharges to credit cards, unannounced loan shark rate hikes, etc.

This is just another example of why no one should put trust in our current banking system.