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Mercnbeth -> RE: Under what circumstances would you consider Obama a success? (3/3/2009 7:21:45 AM)
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SoT,
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The government will supply what capital is required to keep the banking system from a total meltdown. Then, just as it did when the S&L's were no longer in danger of disaster, get the hell out. By taking stock in these companies, the administration will avoid both the dangers of giving these companies a blank check (we saw how well that worked) and outright nationalization. When the crises stabilizes, it will be possible to sell that stock easily and exit the situation, albeit, I hope with more prudent regulation. Not a minor issue; when and HOW will the "crises stabilize" in the environment created by this Administration? My identified "Obama Success" points to where the financial sector is headed because unlike the S&L crisis, there is no 'exit strategy'. There is no foreclose, sell, take the loss. Here we have a government putting forth a plan that prohibits liquidation of the defaulting loans. The Administration has put legal barriers, the Bankruptcy judge arbitrarily re-setting property values, as well as social barriers by its support of ACORN's actions.
On one hand they say they want to solve the problem; while at the same time putting barriers in the way of any entity trying to do so. That's why the only logical goal for Obama's Administration is to make the financial entities fail completely and nationalize them. Undertaking this effort in this way - they can put on an image of trying to do something else when in reality - they may have given money, but only to facilitate their goal of maintaining public support.
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Absorption of the USA into a 'global' ruling government? I don't think so. Frankly, I find it a refreshing change to have a president who's idea of diplomacy is not "We're America....do what we say or fuck you". Please keep in mind that the Cuban missile crisis, the closest we have come to an all out nuclear war, was solved with the judicious use of force (the blockade) and a lot of heavy duty diplomacy (allowing the Russians to save face and not admit defeat without losing our own goals in the process)....Again, I would have to ask just what you see that makes you think that the dissolution of America is Obama's goals.. Glad you "don't think so", I do - that's what it's all about. My side sees Obama getting permission from other nations to implement policy. For example; Obama's most recent Russian attempt; RUSSIA SAYS NO TO OBAMA .
However, perhaps you are unaware of President Obama's desire to support the UN's 'Global Tax' which would obligate the USA to pay out $845 BILLION to solve world hunger. It was one of his favorite projects as 'candidate Obama'. You think he's going to forget about it? GLOBAL TAX I'm sure funding will be buried in some "emergency" spending Bill soon.
Why be a partner to a failing institution? You see the same thing occurring in business. Why get involved with a failing company - why get involved with a failing nation? Negotiating from weakness just a tad better than surrendering; but you can't tell apart the results. In business - you're absorbed and the letterhead is used as scrap paper; in world events you become a historical reference.
Again, it's due to my respect for his intelligence that being a part of a 'global village' where the US retreats to a lower standard must be a goal since it's the most likely result of how the Administration has weakened our economy.
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Oh..and just for the record, the stimulus bill isn't communism. As I said in the post; you can call it anything you want - the pragmatic, most likely result is what it is; no matter what label you need to apply to rationalize your agreement to this Administration's policy.
BTW - The Cuban crises resolved itself when President Kennedy capitulated to Khrushchev's demand to remove similarly deployed missiles in Turkey. We may have not needed them due to the advent of nuclear submarines capable of submerged launch, but Kennedy used it to diffuse the situation - much to his credit.
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