I agree. The large banks should have been allowed to fail and new entities created to pick up the pieces. The reason that didn't happen was 1) the banks have too much influence in government and 2) the government was hugely coupable in the housing bubble and encouraging unsound mortgage lending.
The real problem is 35 percent people still say they are doing better. It took only 38% American''s vote to elect Obama as USA President (if I am correct). Now these 35% to 40% Americans will re-elect Obama in 2012.
Not me, I did well under bush and I'm doing well under Obama. If you blame government for your failures you must give government credit for your success also.
according to FED-they did make 9 trillion on bailouts. that's 25+Billon US dollars for every US resident. illegal immigrants included.
I don't think so. If they made 9 trillion we wouldn't have a national debt problem of 12 trillion. Sarcasim?
USA debts has reached $60 Trillion to $200 Trillion. "The Government is lying about the amount of debt. It is engaging in Enron accounting," said Laurence Kotlikoff, an economist at Boston University. http://www.blacklistednews.com/?news_id=10626
i was asking exact same question here- http://www.elitetrader.com/vb/showthread.php?s=&threadid=211318 the US dollar would skyrocket overnight... ps-my math is off on those trillion numbers(you know,i didn't use those numbers very often and meaning of trillion is different in us and europe. but anyway- should be enough to cover at least half of us debt, isn't ? interestingly-all those "good" news about FED making the money "for taxpayer" are popping up right after Ron Paul was going to overseeing the fed