tazzygirl
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Joined: 10/12/2007
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quote:
Stabilized the banking system? Really? Please explain QE3 then... If you call 40 Billion dollars a month handouts for the foreseeable future as stable, I'll have some of whatever your drinking.
The 2008 financial crisis led to the failure of a number of banks in the United States. Twenty-five banks failed and were taken over by the Federal Deposit Insurance Corporation (FDIC) in 2008, while 140 failed in 2009, 157 in 2010 and 92 in 2011.[1] In contrast, in the five years prior to 2008, only 11 banks had failed.
A bank failure is the closing of a bank by a federal or state banking regulatory agency. The FDIC is named as Receiver for a bank's assets when its capital levels are too low, or it cannot meet obligations the next day.[2][3] After a bank's assets are placed into Receivership, the FDIC acts in two capacities—first, it pays insurance to the depositors, up to the deposit insurance limit, for assets not sold to another bank. Second, as the receiver of the failed bank, it assumes the task of selling and collecting the assets of the failed bank and settling its debts, including claims for deposits in excess of the insured limit. The FDIC insures up to $250,000 per depositor, per insured bank, as a result of the Emergency Economic Stabilization Act of 2008, which raised the limit from $100,000.[4]
The receivership of Washington Mutual Bank by federal regulators on September 26, 2008, was the largest bank failure in U.S. history. Regulators simultaneously brokered the sale of most of WaMu's assets to JPMorgan Chase, which planned to write down the value of Washington Mutual's loans at least $31 billion
Dont mistake the prevention of further decline in the bank market with tyhe attempt to stimulate the economy.
Mr Volcker, who has been a pivotal force in post-crisis regulation – as well as the architect behind the “Volcker Rule” that bares his name – addressed the Institute of Chartered Accountants in Scotland conference about how to revive the economic fortunes of the western world. “Monetary policy is about as easy as it can get,” said Mr Volcker, who built a reputation for quelling inflation through the unpopular decision of raising interest rates during his tenure at the US central bank. “Another round of QE is understandable – but it will fail to fix the problem. There is so much liquidity in the market that adding more is not going to change the economy.”
http://www.telegraph.co.uk/finance/economics/9559082/QE3-will-not-fix-Americas-problems-warns-Paul-Volcker.html
quote:
Prevented the auto industry from going under? Really? Tell that to Toyota, Honda, and Ford.
I said completely under. With the three major ones in the US carrying hats in hand to Congres, that should have been evident.
Chrysler, Ford, GM.. all still open.
But, if you wish to discuss those that are closed, its a huge list...
http://en.wikipedia.org/wiki/List_of_automobile_manufacturers_of_the_United_States
Toyota and Honda arent US companies.
Why do you insist any of those companies ( Toyota, Honda, and Ford) are closed? Is it because two closed US plants? That was going to happen no matter what. Or because Ford dropped some of its lines? Again, something that happens from time to time.
Without the bailout, GM and Chrysler would have went under. And with them, the US supplier base.
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Reversed the terrifying rise in unemployment? Really? Unemployment went from 9.3 to 8.3 where it's remained for the last 40+ months.
Ah how soon you forget the 10.0 we hit in October of the first year of Obama's administration. Which, even according to Romney, fell on the previous administrations shoulders.
10.0 to 8.1... which is better than the 8.3 on inauguration. And those are just the official numbers. The U6 shows a drop from 17.2 to 14.7.
I realize that some 2% (official) isnt much to you... but tell that to the 2%, or 1/5 of the work force that was out of work but is now working, that.
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Sweeping reforms? Really? If you call the largest fucking middle class tax increase in history "progress" well bully for you.
YOu still stuck on that talking head point?
http://www.factcheck.org/2012/07/biggest-tax-increase-in-history/
The link is there for you to read.. but we both know you wont.
quote:
You're right about one thing though, facts ARE facts... Next time try using them.
Sucks for you that I do have my facts correct.
_____________________________
Telling me to take Midol wont help your butthurt.
RIP, my demon-child 5-16-11
Duchess of Dissent 1
Dont judge me because I sin differently than you.
If you want it sugar coated, dont ask me what i think! It would violate TOS.
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Mitt declares himself not qualified to be President - 
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