The New Saint as Banker
What Nationalization or what about the stock holders?
Unless and until there is a policy for the bank solvency issue the stock market will continue to drift downward led by the financials. The "Swedish Solution" totally wipes out bond holders and stock holders with a "fuck you, stupid," puts our corrupt political class in charge of the banking system, and God only Knows what they will do. The threat of destroying stock holders and bond holders acts as a lid on the entire financial system. Then if our corrupt political class takes over the banks won't they just lend to the same flakes that have already sacked the system only this time immunized by the Congress? Does ACORN get low interest unsecured loans? The UAW? GM for the fifth through tenth time? Obama, for all his bullshit from the stump, is surprisingly unprepared for this issue.
4 comments:
"Surprisingly unprepared?" If you had been reading Ace this past week (at least), and maybe some others, you'd notice how everyone's starting to realize how "unprepared" Obambi was from the start. Big-O hasn't ONE coherent policy, hasn't issued a FIRM decision on ANY issues, and neither he nor his Secretaries can tell their fawning press with a stright face that they've a CLUE what they're doing.
Nobody runs on promises they intend to keep. The most publicized being FDR who ran as a rock solid conservative back in the day and turned to the Left so hard he injured himself so badly that he could never walk again. It's just that, after the near unintelligible utterances of Bush, Obama sounds downright Nobelian as he dazzles us with soaring oratory as he breezes around the country. He IS bright. He IS well educated. It's just surprising that once elected and with three months to inauguration he didn't have his ducks in a row by the time he took office.
It happens. Do you remember November 1992 - January 21, 1993? All the flurry and excitement over Clinton's genius-packed Cabinet, the coming changes... Clinton was inaugurated, and announced that gays would no longer be barred from the military and ...
and ...
...
That was it. That was the end of his dramatic changes in direction from GHW Bush, for WEEKS after his inauguration. He had had 3 months to prepare, just like our Kenyan President, and that was all he had come up with.
He's an Alinskiite. What he wasn't PREPARED FOR was all the extra baggage that comes with the Presidency; I'm actually kind of hoping he never will be, because as long as he's fumbling all the little things he'll mean less and less to the public and soon we're looking at a serious challenge to a two-term Presidency.
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