Barack Obama’s disastrous first 1,000 days

WTF!!! In a "free market" Banks are free to loan or not loan to whomever they chose. You are a liberal. You have an odd concept of freedom.

??? No, I brought you back from where you ran to. Now we are back where Ive been all along.

 

Thats what I did. Took me to yet another Wikipedia page that proved you wrong.

The ten largest global investment banks
1. J.P. Morgan $5,533.85
2. Bank of America Merrill Lynch $4,581.59
3. Goldman Sachs $4,386.52
4. Morgan Stanley $4,055.48
5. Credit Suisse $3,379.12
6. Deutsche Bank $3,286.80
7. Citi $3,238.67
8. Barclays Capital $2,864.44
9. UBS $2,614.44
10. BNP Paribas $1,433.89
http://en.wikipedia.org/wiki/Investment_banking

Largest full-service investment banks
Bank of America
Barclays Capital
Citigroup
Credit Suisse
Deutsche Bank
Goldman Sachs
JPMorgan Chase
Morgan Stanley
Nomura Securities
UBS
Wells Fargo Securities
http://en.wikipedia.org/wiki/List_of_investment_banks

 

Bad news. A bank is not a private club. It is a public accommodation that needs a government charter in order to operate. That means there are rules. You play in the sandbox that's provided. No digging in the garden, or you'll be sent to bed without supper.

 

Running in circles like a puppy dog chasing his own tail. Might be time to turn out the lights...the party's over.

 

No one claimed they are private clubs. No one claimed they didnt need a government charter. No one claimed there are not rules. You play with strawmen in an effort to pretend you have anything of value to offer to the discussion other than disinformation for the cause of Obama.

 

The party was over when you demonstrated you dont even comprehend the concept of an investment bank

 

You are correct, dixon76710.

The far-Left members of our group often make a lot of statements they do not understand!

 

simple...when money is cheap people make all kinds of foolish decisions and mal investments....case in point ...the dot.com bubble!

 

Thats an easy question to answer.

The people who bought the luxury townhomes in gated golf-course communities could afford to pay for them.

The illiterate and frequently unemployed people who bought the "affordable" housing units could not pay for them!

 

You are very correct, MolonLabe2009.

Have you seen this latest report?

 

Holy crap - did 17thAndK actually type this?!?

Well - he just proved that he has absolutely NO idea what an real estate bubble really is, how it's formed or (probably) how/why it bursts.

Just goes to show that sounding like you know what you are talking about is not the same as knowing what you are talking about.

 

Holy crap. All your post proved was that you could not answer his question.

 

It is indeed terrible that the government had to lose about $50 billion to avoid another depression from the awful economic mess caused by mismanagement of the housing bubble.

But overall, a $50 billion cost to avoid a depression is well worth it.

Compare for example, the trillion+ dollars wasted in the "mistaken" Iraq war.

 

Why?

1) He didn't ask me.

and 2) Bacardi and JC already answered him - they used the terms 'easy' and 'simple', respectively.

And the fact he would even ask such a question speaks VOLUMES about his lack of understanding about real estate bubbles.


Btw - you actually were so shocked that I did not answer the question that you felt compelled to type: 'Holy crap'?

Interesting.

 

Do you have unbiased factual proof that it avoided a depression?

Yes or no, please?

 

Dear James,

Thank you for expressing your opinion about another post. It adds a lot to the discussion.

 

I love how the economic collapse took place under the BUSH administration and yet Obama gets blamed. Instead of looking at facts, some people dont want to question their own ideology, and admit that they were wrong and if they were raised to be Conservatives then their mom and dad were wrong as well.... and so instead they blame the guy that inherited the mess.

Has Obama done a good enough job handling the crisis? No. Economists said the stimulus needed to be bigger and they were right. Too much of the stimulous money went to the Bush tax cuts.

But here is Obamas REAL record....

Most economists agree that his stimulus plan prevented another Great Depression.

- Ended the horrible Dont ask Dont Tell policy.

-Auto Industry bailout has been a success and saved MILLIONS of jobs.

-Killed Osama Bin Laden. (If he had been killed under Bush, I would give Bush credit for it. Obviously I know that it wasnt Obama who pulled the trigger).

-Won the war in Iraq and will have our troops out of there for X-Mas. Fulfilling his campaign promise.

-I forget the name of the legislation, however he passed the bill that required banks to make all fees very clear and much simpler on any loans.

-Leadership led to the death of Qadaffi.

-Reinstituted regulations on Wall Street so that they dont put our country on the verge of collapse again.


That is just a small sample of some of the positives that have taken place under his Presidency. And I didnt even mention Health Care Reform which I like parts of and dont like other parts of.

President Obama has NOT been a great President. Im a big follower of Presidential history and I would rank him somewhere in the middle if his term ended today. He has allowed Republicans to bully him around too much, he hasn't done enough to fix the horrible economy that Bush and Conservative policies left us and yes the debt IS an issue, although much of it was absolutely necessary considering the mess that George W Bush (and his Daddy and Reagan) left us in with their failed ideology.

The funny thing is that Obama has been great with foreign policy. He has essentially won two wars, killed the alleged mastermind of 9-11 and we have seen dictators removed left and right. Terrorists here in the states and elsewhere are getting picked up incredibly well. So Obama HAS been GREAT on Foreign Policy.

On social issues he has dropped the ball. There is no reason why the govt should be cracking down on medical marijuana places or why Obama didnt push harder for Gay Marriage to be legalized. His only real win in this category is ending dont ask dont tell.

Economically it is a mixed bag. If you pay attention to history, then you understand the mess that George W Bush left us in was NOT Obamas fault. Most economists will tell you that the stimulous prevented another Great Depression. So if you believe that, then you obviously would give Obama credit for that. If you do not believe that then you would grade him horribly for racking up so much debt.

Overall, he has been a pretty average President so far. Just like Reagan. Better than either Bush for sure, not as good as a Clinton (minus the scandals), but definitely not as good as Roosevelt or Lincoln or Washington or as horrible as Dubya or a guy like Buchanan or Andrew Johnson.

I think if we are all being FAIR that you would make the same analysis. You may think he is on the bad side of average, or on the good side of average....But anyone who says he has been great would be lying, and anyone who says he is one of the worst ever would be lying.

I dont think Dubya was THE worst ever, but he was pretty close. 9-11 happened under his watch, Started the Iraq war which was a huge cluster of epic proportions and then he failed to win that war. Started Afghanistan which we are still fighting all of these years later. The Patriot Act was one of the biggest violations of civil rights and freedom in our nations history.

He alienated our allies, and then his neo con economic policies lead to the biggest economic collapse in this country since the great depression. Then the bank bailout took place under his watch where he then said he "Had to destroy the free market in order to save it".

He didnt end up resolving ANY issues. He left them all for our current President.

Bush is one of the 5 worst ever. Obama is a middle of the road President.

 

We will JOYOUSLY take that chance. Trade an unknown for a proven and documented FAILURE. I'll take that choice every day.

 

And how many of these economists failed to see the housing crash coming?
I can name some that did that were totally against the Stimulus - Peter Schiff, Marc Faber, Jim Rogers.
Just because someone calls themselves an 'economist' - doesn't mean they actually understand macro-economics.

And could you please provide a link to unbiased proof that the auto bailouts saved 'millions' of jobs?

Clinton was a coward and a scumbag for deliberately letting hundreds of thousands of Rwandans hack each other to death.
It has been proven that he knew what was going to happen and he deliberately pulled out troops and got the UN to pull out their troops to try and help those helpless civilians that were later hacked to death.
Many of the 800,000 that were brutally killed are at least partially on his administration's hands.

'President Bill Clinton has said that the failure to prevent the genocide was owing to "ignorance" on the part of the international community. But the report says that the U.S. government knew precisely what was happening, including during the months of the genocide.'

http://www.hindu.com/fline/fl1716/17160580.htm



And for the record, I am neither a Rep or a Dem (or a Communist or a Socialist or a Libertarian or...).

 

You are indeed correct, Dan40.

These discussions of Obama's shortcomings were very accurate.

"It's an odd, even jarring, combination: Mr. Obama embraces hyperkinetic government spending and a powerful and all-intruding federal state while having a hands-off attitude toward its workings."

 

Well im at work so the link your asking for isnt gonna happen right now. Im sure you have seen other members here post this, or you can do a google search. Obviously its something you have heard before. Had the auto industry gone under, obviously people would have lost their jobs.

I would need more details on the things you said about Clinton but I am aware of it. I was not a big fan of Clintons foreign policy stances though so I probably agree with you there. However Clinton inherited a lousy economy and turned it into a great economy. That is the extent of where I grade Clinton. Great economy. Monster economy.......Had issues like Somalia, Rawanda, and Cosovo on his foreign policy record that dont look good.

As far as economists go.....Of course its not 100% on either side of the issue. The majority of them did support the stimulous however. Yes I am aware of the dissenting voices you mentioned and yes I agree that many didnt see the housing bubble bursting. You are also correct that not all economists actually understand the economy.

I am not a Democrat. I am a proud Liberal, I fully admit that and I say it with pride. With that said im not a partisan hack. Im not gonna sit here and say that I think Obama has been great. I DO think he has been pretty darn good with his foreign policy decisions but economically there are things he could have done to stop the bleeding MUCH quicker and much more efficiently. However MOST economists have said that the stimulus wasnt enough to actually work. Whether that is true or not.....When I say I dont know I mean it. I DO know that a bunch of it going to the Bush tax cuts didnt help things.

But neither did pursuing for Health Care reform when the economy needed to be the #1 thing to worry about. I support 100% socialized, universal health care.....But there is a time and a place for things, and even then, "Obamacare" wasnt the right thing at the right time.

My biggest issue is when Conservatives call him one of the worst ever. His policies havent lead to massive wars, civil rights haven't been trampled on, the world isnt at war, we havent been hit again by terrorists etc etc etc.

The biggest knock on Obama, if people are being FAIR, is the national debt. And it is a FAIR complaint. That and health care reform but I think peoples biggest complaint about health care reform also ties into the debt issue. My rebuttal of course to people who want to say he is one of the worst because of the debt is that Reagan and Dubya also had enormous debt. So were they this outraged at those two?? Nixon (a Republican) wanted Universal Health Care. He also taxed the wealthy at 61%. I think its what? 34% right now?

I just think that Obama doesnt get a fair shake from too many people. I DO think race plays a major role here. I also think that some people try to make him out to be the messiah and those people are just as unreasonable. And yes race plays a role in that as well. lol. But you cant say he has been one of the worst of all time, his term isnt up yet, he may have a 2nd term depending on the next election which by all accounts looks like its gonna be very close. People need to take a deep breathe and relax a little bit.

 

OMFG



"It's Bush's fault" hasn't worked so now it's Reagan's fault.

It would be hilarious if it wasn't so inanely pathetic.

You did read the part that Owebama has had 1,000 days? And if Reagan created this mess, what does that say about the Democrats demi-god, Clinton?



Sigh

 

http://autos.aol.com/article/auto-industry-bailout-worth-eve/


One of the few websites I dont have blocked here at work. The article quotes other articles and findings.

 

Translation: "I don't have a freaking clue how to do research, let alone what it might mean if I did. It is easier to broad brush everyone else with vitriolic verbiage.


Well done! {Sarcasm font needed}

 

"The GAO is merely doing its job as watchdog on government spending. Even though the benefits are clear, there are still plenty of pundits and politicians who have doubted the value and propriety,"


Good post!

But, if, as the above quote asserts, that the benefits of the bail out are clear, why then why are there so many questions?

To me the benefits are not clear at all, especially in the wake of the revelation this past week that GM has not "p[aid back" its loan with profits, that there were no profits, and the payback was made with worthless stock.