Dan Kone
Well-Known Member
The reason FDRs depression
I love how when republican's completely destroy the economy and get thrown out of office in favor a democrat, they immediately turn to blaming the guy charged with cleaning up their mess with making the mess in the first place.
lasted until after WW2 is because he didn't let businesses fail. He did not let the free market bottom out, identify the losers, and rebuild itself. IF you are going to bailout businesses at least FDR did the right thing and rebuilt our infrastructure. Over priced and inefficient but at least that failed policy wasn't very bad, just bad.
So you think the biggest problem with the great depression is that we didn't lose enough jobs? Because that's the result of just letting sectors of the economy fail. And the banks did get to fail for the most part during the great depression. And it was a disaster! People lost their life savings through no fault of their own. Millions lost jobs. And we had 30%+ unemployment.
What led to the disaster was the same thing that ALWAYS happens but your head is so far up your backside you dont get it.
You are convinced that economic theory that has never produced a positive real world result is 100% based on no evidence what so ever besides Ron Paul told you that is what you're supposed to think. And I'm the one with my head up my ass. lol
Like I said in a the previous post. You are uninformed.
I'm really not. You just won't believe anything unless Ron Paul tells you to believe it.
The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase assets and equity from financial institutions to strengthen its financial sector that was signed into law by U.S. President George W. Bush on October 3, 2008. It was a component of the government's measures in 2008 to address the subprime mortgage crisis.
It was passed by congress under bush. Yes, Obama distributed some of the money, but that was his job. It was a law passed by congress and signed by president Bush. TARP wasn't a suggestion. Obama isn't the king. He can't just ignore the law because you didn't like it.
In President Obama's first State of the Union address, he tried to capture the public's anger toward Wall Street while defending his decision to bail it out. He argued that while his rescue of the banks wasn't popular, it was necessary.
It was, and he didn't enact TARP! That was Bush.