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View Diary: I called my wife and said, ‘Get $30,000 in cash out of the bank today.’ (93 comments)

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  •  I've heard that on that eve of crisis (3+ / 0-)
    Recommended by:
    hungrycoyote, elwior, accio

    martial law was under discussion -- which in fact WOULD probably be needed if we were to the point where nobody could get $20 bills out of an ATM.

    I do believe that we were infinitesimally close to falling into the kind of spiral that consumes everything.

    And Bu$hco's policies put us smack there, single-handed and unassisted coming from handsome Clinton surpluses -- so why the holy hell anybody would consider for one minute going that route again, is a mystery to me.  Sure, I get they want fearful serfs and etc, but nobody wants fiscal Armageddon.

    Obama had to stabilize Wall Street at any costs, and he did, and the cost was high.  And they backed him, and continue to back him.  Which is one of the main reasons we'll get a second term, and further modest ameliorations instead of further free-fall.  

    "The extinction of the human race will come from its inability to EMOTIONALLY comprehend the exponential function." -- Edward Teller

    by lgmcp on Tue Oct 02, 2012 at 08:23:34 AM PDT

    •  Sorry, the financial crisis was aided by Clinton (3+ / 0-)
      Recommended by:
      hungrycoyote, lgmcp, pat bunny

      His signing the repal of Glass-Stegall remove the firewall between the investment banks and the commercial/deposit banks. That is why we faced near catastrophe. Because the imploding casino style investment banks going tits up because of the housing bubble bursting threatened to take down ALL banking. That is why Paulson went to beg Pelosi.

      cheers,

      Mitch Gore

      Want to end too big to fail banks? Then move your money and they will no longer be too big.

      by Lestatdelc on Tue Oct 02, 2012 at 08:50:15 AM PDT

      [ Parent ]

      •  Nonetheless (2+ / 0-)
        Recommended by:
        hungrycoyote, elwior

        both the stock market and the national debt were in markedly better health during Clinton's tenure.  Now just because the money boys are happy, that does not at all mean everybody is doing fine -- but the money is what the Republicans profess to be all about.  THEIR presided over the crash over THEIR system.

        "The extinction of the human race will come from its inability to EMOTIONALLY comprehend the exponential function." -- Edward Teller

        by lgmcp on Tue Oct 02, 2012 at 09:04:35 AM PDT

        [ Parent ]

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