Well, my view is that it is simply wrong to bail out banks, Fannie and Freddie etc. The reason is that the profits are always privatized but the losses are socialized. It’s just wrong and although I understand the havoc it would cause it is still my opinion that it would be better to let them go bust and after that let the government simply take them over. That way the havoc is avoided while the state, eg the taxpayers, actually get something - the banks. The ones who get to pay for the mismanaged banks are the stockholders in those banks - and that is exactly as it should.
When the government grips in and says someone is too big to fail, they’re essentially saying: do what you want because you can be certain we will pick up the tab when you screw up badly. It fascinates me that the US government throws money on the banks and gets nothing in return. Not even in Sweden we were quite that stupid in the nineties bank crisis we had.
Bailing them out is perhaps not exactly state socialism, but it is at least state tampering with the survival of the fittest in the free markets.
Obamacare, for me as a Swede, isn’t really controversial. Any society benefits as a whole by providing good healthcare for all of its citizens. It pays off on the bottom line. I’m not exactly sure about the details of Obamacare, but the principle of a state providing healthcare for all its citizens is considered normal in most Western countries with the exception of the US. This is one of those question where I think that actually the US has got it wrong and the rest of the West has got it right. Apart from that I will say I often, and more and more, tend to agree with how Americans think about things, but not in this specific issue.
FoodStamps I know too little about to have much of an opinion. Strange they should be needed in the world’s richest country though. Are they part of social welfare subsidies or what are they really?
Did anybody find it remarkably typical how all the media talking heads politicized the recent Colorado massacre before the bullet casings even cooled? Their immediate response is to search and see if he is a member of the Tea Party, and then falsely claim he was on air, only to find out that it wasn’t the same guy.
Haha! Exactly. They spend so much time finding the few that are crazy and say that’s what they’re all like. Like the people calling the tea party racist.
Meanwhile, in other news … Political Correctness in Italy.
In an utterly stupid recent ruling, Italian Supreme Court Justice Maurizio Fuma has demonstrated his own “lack of virility”, his “weakness of character”, and his “lack of determination, competence and coherence”.
According to Fuma, all of these character flaws and personal failings are summed up in the expression “he has no balls.”
Obama keeps saying “My opponent wants to go back to the policies which got us into this mess”
[B]Fact: The major cause of our economical breakdown was the sub prime mortgage debacle
Fact: Obama lied about his involvement with acorn. He said his law firm only represented them in a lawsuit against Illinois to implement the “motor voter act” (incidently 9 of the 18 911 high jackers registered to vote under motor voter.) However the reality is Obama represented acorn when they sued City Bank in 1995, forcing City Bank to lower there lending standards to lend to minorities even if they were unqualified borrowers.
Fact: Acorn weaseled there way into the Clinton administration, taking the model established in Chicago to the HUD secretary Henry Cisneros. Cisneros than convinced Bill Clinton to require Freddy and Fannie to force ALL banks across the American banking system to lower there lending standards.
The Acorn model that Obama helped creat the foundation for helped crash the economy 12 years later.
[/B]
This stuff is taken directly from film maker Joel Gilbert
“Obama has spent more than $1 million — probably campaign contributions, and this is probably
a crime, in itself — to seal, destroy, or conceal every record of his birth, his immigration into the
United States, his citizenship-status at the time he attended various U.S. colleges and universities
[B](on scholarship, and reportedly as a foreign-exchange student),[/B] and certain periods of
"employment” prior to becoming an Illinois state senator."
From Fox news I totally agree with what Paul Ryan is saying and I completely relate.
Paul Ryan: “I worked landscaping jobs, I waited tables […] It never occurred to me that I was fixed in some station in life, that I had some limit to my life and my opportunity. I was an American pursuing my version of the American dream. What President Obama is doing, he’s dividing people in this country, he’s speaking to people as if they’re stuck in their current station in life and only the government is here to help them cope with it.”
