Quote:
Originally Posted by Banjo
Hmm, wasn't McCain the one who advocated for less regulations?
|
Yes......(see below)
Quote:
Originally Posted by Deaf Mortgage
Use this link to specific where your source is...
The CNN Wire: Latest updates on top stories Blog Archive - McCain urges creation of agency to help weak financial institutions « - Blogs from CNN.com
Back to the point. If you put a frog in pot of water. Then turn on the heat. The frog will die before realizing its too hot and dangerous for his body.
Same with economy, how can we determine the result of action that was decided 10 years ago? We learn from our mistakes and begin to work at it.
When the last time we had financial bail out? Expensive bail out? McCain now suggesting that we should consider create service where they can be watch dog of financial. Making sure everyone stay on right track, especially big companies that impact thousands of employee and tens of thousand clients. |
I doubt you remember these events as Jillio and I along with a few others do remember.
The last time there was a government bailout was:
* the 1970's, early 1980's of the auto industry.
* 1980's Savings & Loan Scandals when the banks were going under. McCain was in on that as he voted for de-regulation as well as being a member of the 'Keating 5'. Plus our current President was in on it as well as most of the Saving and Loans that were failing was in Texas/Oklahoma.
Now I can understand bailing out AIG, afterall it's insurance and a public/private business. Yet some of these private businesses that make ton of money, don't share it with the taxpayers and yet when they start to fail--the taxpayer gets screwed.
I say let the financial institutions go under. The economy will bounce back. Afterall what goes up, will come down, what stays down, will go up.