General Question

TaoSan's avatar

If some banks will indeed have to be nationalized...

Asked by TaoSan (7103points) March 7th, 2009

will there be a “see we told you Obama is a socialist” reaction?

Our banking system is down the toilet. Plain and simple. Whoever is still croaking about free capitalism working best, is somehow associated with the industry.

For crying out even the FDIC is in need of money now.

Almost 900bn Dollars are literally “vaporized”, pssh. Yet some still claim that “The System” works. What does it take? How bad does it have to be to shut up those blind, maliciously ignorant people?

How much evidence of failure does it take, before people come to terms with the fact that how it was done, isn’t how it can be done in the future?

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2 Answers

laureth's avatar

I don’t think people are waiting for bank nationalization to claim Obama’s a socialist. It started even before he was elected, if I recall correctly.

It was a criminal lack of regulation that greatly contributed to the mess, and I’m not sure how people think that getting rid of the rest of the regulations will help get us back out.

ubersiren's avatar

1. The system does not work. You’re dead on.

2. Obama has been voting for corporate bailouts since he was in Congress. He’s a huge supporter of socialist programs and as been since he was a senator. Those who are really paying attention have been calling him a socialist (in praise or not) for some time.

3. Every time we reach a recession or depression, we are given another chance to start over and spend within our means and discontinue propping up failed businesses. It has yet to be realized that we are continually repeating our mistakes. It won’t end until there is nothing left to build our nation back up from.

4. A lot of people don’t see the system as the cause of the failure. Some think the system just needs to be stronger. Take my poor poor mother for example. My mommy says that the democrats taking the majority in congress hasn’t yielded results because there still aren’t enough democrats in there. Hahaha… I mean, how many democrats does it take, then? While those of us who aren’t blind see that dems nor reps are the problem, it’s the whole bloody system itself. More of what is responsible for the failure doesn’t fix the failure, it duplicates it. Bush’s bailouts added to the deficit, and so will Obama’s. Just like FDR’s did and W. Wilson’s did. We’ve been working on this problem of spending ourselves into a hole for a century, but we keep electing the same presidents and representatives who follow the same paths of spending.

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