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Barack Obama, Crime, Financial Crisis, Homepage: Politics & Society, Politicians, Politics, Politics & Society, US Presidents, US Politicians, Know something about this post? Email us |
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In Washington, is justice for sale?|
Guest: this is SPARTA
(366 days ago)
I once heard an economist say that in nature the most successful parasites get the brain to think that the parasite is part of the body and it cannot survive without it. Obama said we had no choice but to bail out the banks.
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glortman
(366 days ago)This is exactly why I so greatly fear the coming zombie apocalypse...
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Guest: napster
(348 days ago)
Latest comment: Bailing out the banks was not the only option. The banking system could have been completely nationalized and completely restructured. Like was done in 1932-33 and was done in Sweden and Finland with resounding success. All Obama (and Bush too) did was give the banks and various connected wall street firms calling themselves banks lots of cash to cover their losses. There are better was of investing tax payer dollars. Banks don't create economic infrastructor -- Bridges, Factories, interstates, ships, buildings -- are financed by capital sales, bonds, and taxes. Not bank loans. Economics 101 seems to be forgotten.
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Guest: Richard J
(367 days ago)
Very many of the bankers were incompetent, and deserved to be fired. But simply losing a fortune on the markets is not criminal. Failing in business is not a crime either. This advert doesn't make the logical argument for its conclusion.
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slicksps
(366 days ago)What crime was actually committed? Losing money through bad business decisions isn't a crime. The problem with the banks is that they mustn't fail because when they go under they take normal people's savings, pensions, isas which will cause mass chaos with banking customers globally. This is why they had to be bailed out. My major concern though is why has the source of the west's money been privatised? Surely something that powerful should be nationally owned properly (and not the silly RBS deal in the UK)
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Guest: original_instigator
(367 days ago)
Success of society? Does that include the Middle East or where do they fit in with your Eutopia? Let me guess at what's next in your mind - a single government on Earth? Transportation to the mother ship, that all everyone on earth will subsidize, travel the universe looking for other species to join the borg that will take care of everyone?
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Guest: Submitted as a guest
(367 days ago)
well, that's capitalism for you. Who ever got the money wins..
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Guest: napster
(348 days ago)
Selling knowlingly fraudulent items is against the law, mr. slicksps. Goldman sold securities they were shorting on the side based upon insider information, which is also illegal. Giving recommendations and interwining large financing with fees and payments to the lawyers and brokers is also against the law because the large scale involvement of so many different sectors to defraud investors is also under the RICO statutes.
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Guest: Kerry
(367 days ago)
At last some balance from BoreMe! I'm impressed! Now all we need is TYT to acknowledge the same,that it's not just the right that is bad,it's politics in general.
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WalterEgo
(367 days ago)True, but the right is a lot worse because it is based on success of the individual rather than success of society.
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