Save the Banks and Kill the Economy

Politics / Credit Crisis Bailouts
Sep 12, 2010 - 02:29 PM

By: Prof_Rodrigue_Trembl

"The problems we face today cannot be solved by the minds that created them."Albert Einstein (1879-1955), Physicist and Professor, Nobel Prize 1921

"I don't see (subprime mortgage market troubles) imposing a serious problem. I think it's going to be largely contained."U.S. Treasury Secretary Henry Paulson, April 20 2007

"Providing assistance to banks and their borrowers can be counterproductive, resulting in increased losses to banks, which often ... take unproductive risks at government expense. The typical result ... is a deeper hole in the net worth of banks, crippling tax burdens to finance bank bailouts, and even more severe credit supply contraction and economic decline." The International Monetary Fund (IMF), (Study of financial crises from 1970 to 2007)

"The dirty little secret ... is that every Republican in this country wants Obama to fail, but none of them have the guts to say so; I am willing to say it." Rush Limbaugh, radio activist, February 27, 2009

It has become a truism to say that the Democrats and the Obama administration now “ownâ€