Thursday, November 10, 2011

Does the 7 trillion bailout suggest dictatorship?

No, and its 700 Billion, not 7 Trillion. And if you could say it is any form of gov't then you could call it socialism. However there is an historical precedent for this type of action. The FDR Administration in the 30s commonly did this sort of thing to make sure the banks did not stop lending. Most of the banks that survived can thank those "bailouts" for keeping them above water. Does that mean I like the "bailout" solution? No! Theoretically it is possible, but the thing is, its distributed by the gov't so we don't even know where the money is going and why. So these bailouts have so far been an abysmal failure. And why is Obama going along with it? Because he has no choice. At least the package he is proposing (along with democratic congress) is supposed to give money to the middle/lower income families that is the whole design behind the proposal anyway. For him to have kept his senate seat would a.) keep him from focusing on the transition to the WH and b.) it would insert to much presidential politics into the senate/it would be a breach in boundaries during this particular time b/c it would seem like he is pushing for a certain agenda to p congress before he comes into office. Besides, its all politics, lol.

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