posted on Sep, 15 2009 @ 04:03 PM
Originally posted by Locoman8
reply to post by buddhasystem
The problem is that Obama and every other president wants to FIX America's financial problems.
I am of the opinion that they need indeed to be fixed. I don't like the way it's been done so far. Look, we in fact already know what happens when
the govt. washes its collective hands and let the banks have it their way. The disaster would have happened if the strict regulation was not
intentionally eroded. I worked in financial services and I think I know what I'm talking about.
If they fail, they fail and will be replaced by other businesses that are better suited to do the job.
Sorry but that sounds overly naive. I'm all for capitalism but sinking a few major banks would eviscerate the money flow in this country. You can't
recreate an aircraft that crashed from parts you buy form suppliers, in 12 hours. Similarly, you can't just hope that somebody opens a huge business
in week to replace AIG etc.
The "NEW DEAL" of the 1930s just prolonged the Great Depression.
I don't see it this way. By the way, wasn't Social Security the result of that, too?