Whoa, hombre. I think your information might be a bit, dare I say it, patchy. That scenario was pre-Obama and has Bush written all over it. Just like the $12 Billion in cash that the US sent to Iraq and that had vanished and was never accounted for. Remember? Quite a consistent modus operandi on Bush's part, wouldn't you say? http://www.guardian.co.uk/world/2007/feb/08/usa.iraq1
Given the excessive Ayn Rand ideology ( to the extreme ) that Alan Greenspan had in believing that free-markets do not succumb to failure or distortion and that they "self-regulate" . . . I would say that your quote above is extremely true . . . so much so that most on this thread seem to have "missed" it.
Obama is putting constraints on the bankers but they have no constraints on those companies the banks lend the money to. As an example: Pfizerâs $68 billion acquisition of rival pharmaceutical maker Wyeth is drawing criticism over the $22.5 billion in loans Pfizer received from major Wall Street banks to help close the deal. The Greenlining Institute, a California-based public policy group, says it has filed an action with the antitrust division of the Department of Justice in which it questioned whether the bank consortium that provided the loans was misusing the billions of dollars they received under the governmentâs Troubled Asset Relief Program. The group claims that the $22.5 billion would have been better spent on extending loans to the millions of small-business owners that are struggling because they cannot get credit from banks. Four of the banks that helped fund the Pfizer-Wyeth deal â Citigroup, Bank of America, JPMorgan Chase and Goldman Sachs â received a collective $122 billion in TARP funds. So the combined $22.5 billion in loan guarantees makes up a significant portion of the cash they received from the government to shore up their balance sheets and spur lending to jump-start the economy. The Greenlining Institute said it believes that the lending of such a large amount of cash effectively amounts to a backdoor bailout of Big Pharma at the expense of small-business owners that are seeing their credit lines cut and loans denied on a daily basis. Pfizer is the worldâs biggest pharmaceuticals company, and its products include Lipitor, the blockbuster cholesterol drug. The group also argued that the lending violates the spirit of the TARP because the Pfizer-Wyeth deal is expected to cost, at a minimum, 19,500 people their jobs and could send health care costs higher in the long term.
Hmm........ a Marxist trying to save Capitalism. Interesting. Has he even had a job working for a company or been self-employed, or has he always worked for the government? I never could take Al Gore seriously, being raised in a hotel suite and carted to private school in a limo. In a similar way, is there any reason Obama, a Marxist, voted in by the YouTube - American Idol - Hollywood crowd should be taken seriously?
At least ANOTHER one of his buddies get out of paying TAXES............. "Rahm Emanuel Doesnât Pay Taxes, So Why Should You?" http://www.infowars.com/rahm-emanuel-doesnt-pay-taxes-so-why-should-you/
Can you offer any REASONABLE ARGUMENTS (with evidence, cogent reasoning)? Clearly you are good at name calling, but that appears to be all. Please, prove me wrong. And that comment of mine was not addressed at you, anyway. The person who wrote it stated that he was a tax cheat and implied that he was going to shoot the president. I cannot see how someone like that is NOT a disgrace to this country.