Lydia Leftcoast
02-06-2009, 10:49 AM
Since the comments often disappear after a day or two, I'll quote this one in its entirety:
33.
February 06, 2009 7:00 am
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I'll give him six months before I make up my mind, but so far Bam is a disappointment. I don't know why I'm surprised, clearly $63 million dollars from Finance Insurance Real Estate industries apparently trumps 67 million votes.
If Obama were serious,
1. The criminals who caused this financial disaster would all be facing RICO charges instead of getting $18 billion dollar taxpayer funded bonuses.
2. Instead of Geithner (tool of the NY Fed) we'd have Volcker (the man who tamed inflation back in the 70s) Instead of Summers (failed college president) we'd have Nouriel Roubini (the NYU economist who called this disaster three years ago)
3. Instead of throwing good money after bad, he'd declare a bank holiday, send in the auditors to force banks to mark to market then nationalize the insolvent banks, give the bond holders a hair cut, guarantee the depositors, then start a Federal "good bank" that would function like a utility.
4. Just like Roosevelt in the depression, he would cancel the derivatives contracts that threaten the system.
5. Force 'cram downs' where banks adjust mortgages down to match underlying market realities and then give the bondholders 80% of the upside if the houses appreciate.
6. Rewrite the extremely punitive bankruptcy law that the credit card companies and their cronies (I'm looking at you Biden) forced through in 2005.
7. Launch a real investigation to determine whether speculative manipulation drove oil to $150.
I could go on and on, but now is the time to start thinking about a 2012 primary challenge. I would also suggest that you consider your contingency plans given the possibility of S&P500, Dow 5000 and a dollar collapse. I'm not saying put everything you have into gold, just make sure you're not going to be standing in a line at a soup kitchen if everything goes into the can, because it's a real possibility.
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Seeing this perspective, given that it's based on working within the capitalist system rather than destroying it, shows just how wimpy Obama is being.
33.
February 06, 2009 7:00 am
--------------------------
I'll give him six months before I make up my mind, but so far Bam is a disappointment. I don't know why I'm surprised, clearly $63 million dollars from Finance Insurance Real Estate industries apparently trumps 67 million votes.
If Obama were serious,
1. The criminals who caused this financial disaster would all be facing RICO charges instead of getting $18 billion dollar taxpayer funded bonuses.
2. Instead of Geithner (tool of the NY Fed) we'd have Volcker (the man who tamed inflation back in the 70s) Instead of Summers (failed college president) we'd have Nouriel Roubini (the NYU economist who called this disaster three years ago)
3. Instead of throwing good money after bad, he'd declare a bank holiday, send in the auditors to force banks to mark to market then nationalize the insolvent banks, give the bond holders a hair cut, guarantee the depositors, then start a Federal "good bank" that would function like a utility.
4. Just like Roosevelt in the depression, he would cancel the derivatives contracts that threaten the system.
5. Force 'cram downs' where banks adjust mortgages down to match underlying market realities and then give the bondholders 80% of the upside if the houses appreciate.
6. Rewrite the extremely punitive bankruptcy law that the credit card companies and their cronies (I'm looking at you Biden) forced through in 2005.
7. Launch a real investigation to determine whether speculative manipulation drove oil to $150.
I could go on and on, but now is the time to start thinking about a 2012 primary challenge. I would also suggest that you consider your contingency plans given the possibility of S&P500, Dow 5000 and a dollar collapse. I'm not saying put everything you have into gold, just make sure you're not going to be standing in a line at a soup kitchen if everything goes into the can, because it's a real possibility.
---------------------------
Seeing this perspective, given that it's based on working within the capitalist system rather than destroying it, shows just how wimpy Obama is being.