Edit: Obama was absolutely the best President of my lifetime. Acting as if his bank bailouts didn’t screw the working class is the same blind loyalty MAGA has for Trump. The guy chose expediency over equity, and only the wealthy prospered.
I’m not sure he specifically chose expediency. I think it came out that way because of his insistence on trying to negotiate with the Republicans after they vowed to block everything.
He said in his SOTU address, as well as in multiple interviews, that he hated how the TARP bailouts were designed but attempting the alternative of bailing out the borrowers would’ve taken far longer. That was with control of the Senate and the House.
I’m not convinced that Republicans had the stones to resist an equitable bailout while the banking industry was on fire. It’s not like they could force TARP without his approval. He made a call, and it wasn’t the right one. I’m not branding the guy. Good Presidents can make bad decisions.
I agree that it injected a tremendous amount of moral hazard into banking, but surely you aren’t implying that the working class paid for the bailouts? You know that the federal government made money on the bailouts, right? It literally cost negative money, it’s just that there weren’t consequences for the conmen who all should have been jailed and prohibited from running banks ever again.
The crisis was created by banks intentionally signing high-risk loans and essentially betting against them being repaid. The bailouts absolved the financial burden from the lenders, and left the borrowers holding the bill.
The same bailouts were needed in the EU, but several nations absolved the borrowers. The banks still got their money, but without the widespread foreclosures and subsequent property value depreciation ripple.
Oh okay, I misunderstood your comment as implying that the working class, though tax revenue, bore the burden of bailing out the banks, rather than saying that the working class paid for it because working class people had their house foreclosed upon.
I’ve literally never heard that before, but am now concerned and intrigued. Is there actually some sort of an animal-sex dog whistle that I’ve never heard before and am now propagating?
If so, I’m totally removing it from my comment. If this is because implying that someone had sex with chickens, that’s why I said “ew.”
Yeah I figured it wasn’t something you were aware of, it didn’t read the same way. One thing a lot of people don’t understand about American Racism is just how rooted it is in justifying slavery. By the time the Civil War happened slaves were legally and socially considered to be beasts of burden, different to a cow only in that you wouldn’t eat a slave.
After they lost the Civil War southerners rallied around that idea and invented even more ways to reinforce it in the Lost Cause ideology. This is why there’s so much representation of black people as feral apes and it’s juxtaposed to well mannered black people in traditional slave roles under white “managers”.
Part of that was a myth that black people could not control their libido. They propagated the idea that black people would force themselves on anyone and any animal nearby. This is why even looking at a white woman was a lynching offense in some areas.
Edit to add - the original comment above is just a reference to the “Thanks Obama” meme.
Dammit Obama
Obama’s eggs went to bail out the banks.
Edit: Obama was absolutely the best President of my lifetime. Acting as if his bank bailouts didn’t screw the working class is the same blind loyalty MAGA has for Trump. The guy chose expediency over equity, and only the wealthy prospered.
I’m not sure he specifically chose expediency. I think it came out that way because of his insistence on trying to negotiate with the Republicans after they vowed to block everything.
He said in his SOTU address, as well as in multiple interviews, that he hated how the TARP bailouts were designed but attempting the alternative of bailing out the borrowers would’ve taken far longer. That was with control of the Senate and the House.
I’m not convinced that Republicans had the stones to resist an equitable bailout while the banking industry was on fire. It’s not like they could force TARP without his approval. He made a call, and it wasn’t the right one. I’m not branding the guy. Good Presidents can make bad decisions.
I agree that it injected a tremendous amount of moral hazard into banking, but surely you aren’t implying that the working class paid for the bailouts? You know that the federal government made money on the bailouts, right? It literally cost negative money, it’s just that there weren’t consequences for the conmen who all should have been jailed and prohibited from running banks ever again.
The crisis was created by banks intentionally signing high-risk loans and essentially betting against them being repaid. The bailouts absolved the financial burden from the lenders, and left the borrowers holding the bill.
The same bailouts were needed in the EU, but several nations absolved the borrowers. The banks still got their money, but without the widespread foreclosures and subsequent property value depreciation ripple.
Oh okay, I misunderstood your comment as implying that the working class, though tax revenue, bore the burden of bailing out the banks, rather than saying that the working class paid for it because working class people had their house foreclosed upon.
Edit: Well, apparently I accidentally did a racism today… Nothing overt, but bad enough that it could totally ruin someone’s day. Sorry.
Even with that, jokes about minorities mating with animals are straight out of the racist handbook.
I’ve literally never heard that before, but am now concerned and intrigued. Is there actually some sort of an animal-sex dog whistle that I’ve never heard before and am now propagating?
If so, I’m totally removing it from my comment. If this is because implying that someone had sex with chickens, that’s why I said “ew.”
I’m so confused right now.
Yeah I figured it wasn’t something you were aware of, it didn’t read the same way. One thing a lot of people don’t understand about American Racism is just how rooted it is in justifying slavery. By the time the Civil War happened slaves were legally and socially considered to be beasts of burden, different to a cow only in that you wouldn’t eat a slave.
After they lost the Civil War southerners rallied around that idea and invented even more ways to reinforce it in the Lost Cause ideology. This is why there’s so much representation of black people as feral apes and it’s juxtaposed to well mannered black people in traditional slave roles under white “managers”.
Part of that was a myth that black people could not control their libido. They propagated the idea that black people would force themselves on anyone and any animal nearby. This is why even looking at a white woman was a lynching offense in some areas.
Edit to add - the original comment above is just a reference to the “Thanks Obama” meme.
Fuck.
Thank you.
Also, how could I have forgotten this gem
You did this
Oh my God, am I seriously the only one who thought that’s what the Obama comment was? Seriously, what’s the meaning that I’m not getting?