Today Barack Obama became a Bush republican with respect to Wall Street. He did what no one would have expected and took a plan straight from the Bush and Paulson fiasco and amplified it even more. He took the worst of the Bush administration and made it his own police today.
My point is that President Obama has wasted more than 2 trillion dollars in subziding banks, but just 700 billion in the people who really need it.
That shows were his priorities are. Also, how can you say you want real economic growth but then give the gamblers in wall street a wall street they can gamble back into disaster.
Update: Just because I attack Geitner and President Obama and want them to nationalize the banks, instead of what they are doing now, and end the era of greed in Wall Street, doesnt make me a follower of Stalin. Also, Stalin was not even a communist because Communism is not a mass murdering ideology, and I am not like Cuba, more like Sweeden.
Today, the Obama administration reveladed a new plan that would cost 1 trillion dollars, and that would end up buying the toxic assets that had brought this banks to economic collapse. This plan was proposed back in October by the Bush administration as a way to safe the banks and our financial crisis. It just has a new twist. The Obama administration wants to use our money to artifically inflate the price of this toxic assets, for the only purpuse of making the same wall street investors buy those assets. The reason for doing this is that the Obama people believe the reason our banks and financial system is in turmoil is because investors think the toxic assets are worth nothing. For President Obama those toxic assets should be bought by us the taxpayers, because it is our duty and responsibility to lift this banks and make his campaign donors, the wall street gambelers even richer.
Today, President Bush, sorry Obama, became another tool of the wall street gamblers. He basically preffers to subsidize bankers bonuses and balance sheets than the American people. Today, President Obama put Wall Street greed and irresponsibility first.