I Am Really Enjoying All This - Trump Has Reinforced Obama's Genuis

[Levianon17]

Originally Posted by adav8s28

Hank Paulsen who used to work for Bush43 wanted to give the Banks 750 billion in fourth quarter 2008 to fix the banking crisis. How soon you forget. Obama saved 1000 "troubled assets" by giving them 600 Billion, AIG received a record 225 billion Tarp loan. Moody's restored the USA credit rating back to a "AAA" in 2014, about one year after the tax rate percentage in 7th bracket went back to 39%. You're a joke son and you don't know what you are talking about.

Yeah Moody restored the credit rating. What did he do click his fingers? Obama spent all his formative years in another country. What makes you think he grew up caring about America? The DNC got their eight years of fame with that puppet now it's all unraveling. Obama wasn't shit, because of his race he enabled the Democrats to use the race card more thoroughly that's all his administration was worth and you dumb fucks took it seriously.

[dilbert firestorm]

a lot of people opposed the bailouts. too big to fail my ass....

[adav8s28]

[QUOTE=Levianon17;1061868642]Yeah Moody restored the credit rating. What did he do click his fingers? Obama spent all his formative years in another country. What makes you think he grew up caring about America? /QUOTE]

Hey newbie Hawaii is a state. It's not another country. One thousand troubled assets got 600 billion dollars. The stimulus allowed the ecomomy to gain traction while the banks recovered from their losses of credit default swaps that went bad.

Obama saved the banks, saved wall street and the american auto industry (GM and Chysler). The DJIA went from 7,000 points to 19,000 points a gain of 12,000 points. Everyone's 401K and Roth IRA went up except for Austin Ellen who posted that she was broke during the Obama years. Unemployment went from 10% to 4.7% under Obama and the deficit went from 1 Trillion (that was inherited from Bush43) to 580 billion, the lowest it had been in 12 years.

[adav8s28]

Originally Posted by The_Waco_Kid

speaking of knowing what you are talking about ... who lit the fuse to the banking crisis?





Butt u knew that, right???


Glass–Steagall "repeal" and the financial crisis

Robert Kuttner, Joseph Stiglitz, Elizabeth Warren, Robert Weissman, Richard D. Wolff and others have tied Glass–Steagall repeal to the late-2000s financial crisis. Kuttner acknowledged "de facto inroads" before Glass–Steagall "repeal" but argued the GLBA's "repeal" had permitted "super-banks" to "re-enact the same kinds of structural conflicts of interest that were endemic in the 1920s," which he characterized as "lending to speculators, packaging and securitizing credits and then selling them off, wholesale or retail, and extracting fees at every step along the way."[44] Stiglitz argued "the most important consequence of Glass–Steagall repeal" was in changing the culture of commercial banking so that the "bigger risk" culture of investment banking "came out on top."[45] He also argued the GLBA "created ever larger banks that were too big to be allowed to fail," which "provided incentives for excessive risk taking."[46] Warren explained Glass–Steagall had kept banks from doing "crazy things." She credited FDIC insurance, the Glass–Steagall separation of investment banking, and SEC regulations as providing "50 years without a crisis" and argued that crises returned in the 1980s with the "pulling away of the threads" of regulation.[47] Weissman agrees with Stiglitz that the "most important effect" of Glass–Steagall "repeal" was to "change the culture of commercial banking to emulate Wall Street's high-risk speculative betting approach."[48]




https://en.wikipedia.org/wiki/Afterm...93Steagall_Act

Clinton did sign the Gram-Leach-Biley Act. Gram was a REPUBLICAN from Texas, he is the one who wrote the Bill. Republicans wanted that bill more than Clinton. Did you forget that part?

https://www.thebalance.com/glass-ste...repeal-3305850

[eccielover]

Originally Posted by adav8s28

Hey newbie Hawaii is a state. It's not another country.

Of course Hawaii is a state, but it seems like you are ignoring his formative years living in Indonesia?