Dem: If we’d let economy crash, we’d be in power for 40 years

www.rawstory.com...

A departing Democratic lawmaker says his party is paying a political price for doing the right thing and working to rescue the economy from the financial collapse of 2008.

In an interview with The Hill, US House Rep. Brian Baird (D-WA) defended the Democrats' decision to support the $700-billion TARP bailout of the Wall Street banks, which was signed by President George W. Bush shortly before he left office.

Democratic Rep. Brian Baird of Washington apparently believes that if the Democrats had not ‘rescued the economy’ the Democrats would have had the chance to politicize the ensuing economic catastrophe into a 4 decade political gain.

However he claims that by rescuing the economy this kept the Democrats from being able to through it all on former President Bush, a Republican, and run with the idea that it was the Republicans fault and the Democrats are here once again to rescue the working class of America from the greedy and reckless behavior of the Republicans.

The dream that Democrats could somehow pull an FDR some years after the initial crash and we entered a global depression is rather impossible to truly pull off under any logical circumstances as Roosevelt’s programs were implemented when the national debt was not as high as it is now.

I don’t think it is very logical to politicize people’s entire livelihoods, even though the Democrats and Republicans are already doing that. Personally the whole ‘I saved the economy’ thing is growing quite old as in 2011 the state and municipal budgets could begin to default leading to 2008 all over again just this time our economy is far too weak to take such a punch add to that the intentional inflation the Federal Reserve is chasing after with this $600 billion they are printing into the economy.

“We could have said, 'The economy is going to collapse. The world is going to go into a depression. You’re going to get the blame and your party is going to get the blame because you’re in power and we are going to ride this into the majority for the next 40 years.' That is what the Democrats could have done,” Baird said.

This could have worked even though the Democrats held the majorities in every chamber except the executive. But I don’t think they would have had to worry about that since Americans failed to recognize this even today.

Well, to be honest they are probably right. The way the US public are manipulated these days, the moment anyone tries to fix a problem, they immediately take ownership of the problem and are to blame for the entire problem.

In US Politics the question is do you do the right thing or do you keep your job?

reply to post by Misoir

Democratic Rep. Brian Baird of Washington apparently believes that if the Democrats had not ‘rescued the economy’ the Democrats would have had the chance to politicize the ensuing economic catastrophe into a 4 decade political gain.

He is nuts.

The USA is close to bankrupt. We are in so much debt we can not pay it off. Most of our industry has been sold to foreigners. We have little manufacturing left. Our largest employers are The US government, Walmart, Kelly temp staffing and McDonalds. We have become a nation of store clerks and burger flippers living on credit.

The ones who will benefit from bankrupting the USA are the IMF/World Bank when they bail us out and force us to hand over the reins of government through contracts called Structural Adjustment Policies

Say goodby to all those nice social welfare programs!


Stewart Dougherty, a specialist in inferential analysis, says:

"It is statistically impossible for the United States to pay its obligations". www.silverbearcafe.com...

It just shows how their minds work - damn the effect on the American people, just so long as we can keep the power. Bums.

Originally posted by wcitizen
It just shows how their minds work - damn the effect on the American people, just so long as we can keep the power. Bums.

How, exactly are republicans any different?

Second.

The bail-outs were basically a collaborative effort of both the Democrats and Republicans. The difference was Bush wanted to (and did) bail out only Wall Street and the banks while Obama included other sectors of the economy.

The bail-outs have been unpopular with those who think the billions in tax cuts for the rich are an okay expense while saving the economy is too costly. Many critics think only of the deficit without considering how bad off we, and the rest of the world, would be without the bailouts.

Because Obama is currently the president people tend to blame him and forget the Bush administration's bailouts. The Republicans are only too happy to capitalize on the national shortness of memory as they think it will put them back in power in the next election.

The bailouts by Bush and Obama have done more damage to the economy than any forclosure crisis ever could. In the process it's created a bond market nightmare, globally.

When currencies around the world start crashing, (and they already are..)you WILL be able to point exactly at TARP, and the "Stimulus" as the moment in history when irrational fear had officially overidden logic, and Fiat currency began it's path to the ash heap of history.

I don't doubt that lawmakers had good intentions, but anyone who believed that debasement of the currency was a way to save the banks was severly misinformed.

Likewise, all those bleeding hearts out there that thought inflationary practices were a noble means of preserving the quality of life for the middle class ask yourself this......

When the value of your money has disappeared due to the reckless spending of politicians trying to "preserve" uneployment benefits, or "stimulate" jobs in the "economy", what will it matter if you provide a tax break? What will it matter, if you raise the Social Security payouts when a loaf of bread costs 15 dollars? What will it matter if you extend unemployment benefits when the money you are providing can't buy anything with it?

Their good intentions doomed the economy from the beginning. And I highly doubt, that the United States will ever fully recover from this.

He is not a very educated politician on financial matters. If the economy had collapsed and it would have/will anyway the entire world economy would have collapsed with it and there would be no political party left because the people would have strung them all up. There would be no IMF because the IMF is based on dollars as are most other currencys in the world. Over and over I play it, nobody gets it, and nobody can tell me whodunit, well you watch it listen real close beginning at 2:10 and when you know who dunit we can solve the whole damn economic mess. Of course congress wont tell us because and I quote"We dont talk about such things". Well I want to know and we the people have a right to know so ATS whodunit?



At 2;10 bank run,now whodunit?

Yeah... what about if the government ``let the economy crash`` as they say, WE WOULD BE OUT OF IT BY NOW.

But nooo... if they had ``let it crashed`` the big banks would have gone under and the scum would have gone bankrupt. Maybe even some Wall Street blood would have been shed... and all for the better.

The crisis would have been deeper but WE WOULD BE OUT OF IT NOW.


Remember the early 20s? With Harding? Yeah. The same thing would have happened.

reply to post by Sestias

The bail-outs were basically a collaborative effort of both the Democrats and Republicans. The difference was Bush wanted to (and did) bail out only Wall Street and the banks while Obama included other sectors of the economy.

Take off the rose colored glasses. Obama and the democrats are no saints either. They aided and abetted the bankers in forcing those financially strapped into foreclosure!

Nearly half of the 1.3 million homeowners who enrolled in the Obama administration's flagship mortgage-relief program have fallen out.
finance.yahoo.com...

This is the "Politically Correct" way of saying the banks and government advisors put you on a "reduced payment plan" for about a year and a half, jerk you around and then OOPS you do not qualify -- you now have a month to pay back ALL the money you did not pay plus interest plus penalties plus LAWYER COSTS!!!

I have the itemized bill to prove it.

Why are some refused modification? Because the tax payer bailed out AIG and the law makers left a loop hole for CDS gambling to go unregulated.

“Simply put,” says Parker, “the government bailout of AIG has actually encouraged foreclosures because the taxpayers continue to fill AIG’s coffers with enough cash to pay out insurance on defaulted home loans.”

...The is no reserve requirement with CDS because there's no government regulation....

CDS premium revenue is not restricted to those who might have actual losses or real assets to protect. You can bet as much as you want and create as many CDS as you want....

www.realtytrac.com...

In other words there maybe more than one CDS on a mortgage and therefore it is much more profitable to collect the multiple payoffs than to refinance the mortgage.

The republicans AND the democrats are bought and owned by the bankers and the Corporate cartels, we the people are just sheep for the shearing. The vampires (Banksters) sucked us dry and now they are headed for India and China.

Foreign Banks in India

Over the last two years, 30 foreign banks have incorporated in China, competing directly with Chinese banks in a number of services.

reply to post by Vitchilo


No we wouldnt we'd be in the middle of ww3 the derivitives market holds approx 1500 trillion dollars worth of debt with entire countries economies collapsing because of it. Russia and China are heavily invested in it,think they're just going to walk away? Missles off the coast you say? Wonder why? Greenspan admits it was a fraud? Really now,I bet those collapsing contries love that little trick eh?



Yeah bad things are coming watch Bernanke drop his head its coming out the ships sinking.

reply to post by nickoli

No we wouldnt we'd be in the middle of ww3 the derivitives market holds approx 1500 trillion dollars worth of debt with entire countries economies collapsing because of it.

So what. You make them illegal. They are worth nothing. Pass a law making them illegal and void. Simple as that.

China and Russia can go screw themselves and make derivatives in their own damn countries.

Originally posted by saturnsrings

Originally posted by wcitizen
It just shows how their minds work - damn the effect on the American people, just so long as we can keep the power. Bums.

How, exactly are republicans any different?

Second.

Whoa, where did that come from? Show me where I mentioned either Democrats or Republicans, please. As far as I'm concerned they are all the same....all bums....all criminals.....all working for the same vile puppet masters.

Originally posted by wcitizen

Originally posted by saturnsrings

Originally posted by wcitizen
It just shows how their minds work - damn the effect on the American people, just so long as we can keep the power. Bums.

How, exactly are republicans any different?

Second.

Whoa, where did that come from? Show me where I mentioned either Democrats or Republicans, please. As far as I'm concerned they are all the same....all bums....all criminals.....all working for the same vile puppet masters.

My apologies. I assumed you were referring to dems as they have control now. You are correct in that they are all bums.

reply to post by wcitizen

Whoa, where did that come from? Show me where I mentioned either Democrats or Republicans, please. As far as I'm concerned they are all the same....all bums....all criminals.....all working for the same vile puppet masters.

Now if we could only get the rest of the country to realize that. I really go ballistic when I hear some idiot busy defending Obama.

What I find really interesting is in Jan. 2008 the money supply was $831 billion. In the spring of 2009 it doubled and rose to $1663 billion. In 2009 I had captured data as far back as 1959. 2009 source

Now look at what the FED site is reporting. They START in November of 2008 with the number 1516.9. There is no evidence on their site of the doubling of the Money Supply that occurred in the winter 2008-2009!

Originally posted by crimvelvet
reply to post by wcitizen

 

Whoa, where did that come from? Show me where I mentioned either Democrats or Republicans, please. As far as I'm concerned they are all the same....all bums....all criminals.....all working for the same vile puppet masters.

Now if we could only get the rest of the country to realize that. I really go ballistic when I hear some idiot busy defending Obama.

What I find really interesting is in Jan. 2008 the money supply was $831 billion. In the spring of 2009 it doubled and rose to $1663 billion. In 2009 I had captured data as far back as 1959. 2009 source

Now look at what the FED site is reporting. They START in November of 2008 with the number 1516.9. There is no evidence on their site of the doubling of the Money Supply that occurred in the winter 2008-2009!

There is huge fraud going on on such a massive scale it's totally beyond imagination. The Fed is resisting being audited for a good reason. As Ron Paul said, we need more Wikileaks, and on the Fed. I would hazard a guess that it has gone in to the bank accounts of those same gangsters at the top of the Illuminati pyramid.

How can they even CLAIM that it's fixed? QE1,QE2, and now QE3 is being put on the table....sorry but putting a temp plug on a massive leak is even worse than taking the original hit and fixing it right. It's the entire governments fault, not republicans or democrats alone.

If the Dems had let the economy fail?

US corporations just had their best year ever. Profits higher than ever in history.

The "Stimulus" and "Bailouts" were simply more of the games and lies that politicians and banks play.

The 700 billion is actually closer to 1.4 billion and benefited no one but banks, big money and politicians. The fallout is left for the taxpayers to deal with.

If the "banks" had been allowed to fail then a number of criminals would have been exposed for who they are and the Democrats AND Republicans would be in deep deep trouble.

The Government bailed themselves out at our expense. It was nothing but self preservation for both parties and had nothing to do with "doing the right thing."

reply to post by Misoir


If the economy collapsed that would make our money pretty worthless and the financial gain he talks about would be meaningless. And then another government that isnt collapsed would come and take us over.

reply to post by wcitizen

There is huge fraud going on on such a massive scale it's totally beyond imagination. The Fed is resisting being audited for a good reason. As Ron Paul said, we need more Wikileaks, and on the Fed. I would hazard a guess that it has gone in to the bank accounts of those same gangsters at the top of the Illuminati pyramid.

Boy you can say that again.
The Central bankers began siphoning off the wealth of this nation in 1913 with the Federal Reserve Act. They have just about sucked this nation dry and all that is left is a rotting corpse.

The Bleeding Hearts fell for their trickery and have helped accelerate the flow of wealth from the poor to the rich. I detail it here in my Reference Thread