Come on......The President and his Administration does not in any way shape or form run the financial markets.....they can have an effect, just like the do nothing Congress, but they don't run it......These poor guys get blamed for everything.
Remember all those speech from W about wanting people to own there homes??? I DO!
The bailouts are straight socialism brought to you by Paulsen and the treasury department via legislation from congress and signed by W. Yes he's responsible because he could have vetoed it and DIDN'T. Socializing losses to the masses is exactly what they are doing. The pieces that are profitable will be privatized and the bagholders, i.e. US taxpayers will be left holding the bag of dogshit at the end of the day.
Had the Fed actually done there job, rather than allow lax lending standards and a free money policy we wouldn't be in the mess we are today. Had they done there job which would have meant a shorter period of pain when the real recession should have occurred, rather than dump money willy nilly and create huge comsumer debt, we'd be in MUCH better shape now. The pain that is occurring and will continue to occur is because the idiots, in this admin, fed and congress, messed with the economic cycles that naturally occur. When you delay those cycles, the magnitude of the shock is much worse... here we are today.
How's that economic stimulus payment working out... Thought so!
