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Originally Posted by roachboy
gee, ace, i thought you'd have understood capitalists as paragons of virtue and regulation an impediment to the optimized unfolding of that virtue, which of course happens to the greatest benefit of all mankind, cranky socialist churls aside...it's consistent with your various other pronouncements that regulation or rules or oversight originating with the state are irrational, problems---but now suddenly you're saying that there wasn't enough regulation or oversight, even though your ideology, like that of the bush people, would have tended to foreclose the need for it on principle. what gives?
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The original TARP legislation was bad legislation from the begining, I was against it. In my view we should let weak financial institutions fail. The irony is how quick we went from Democrats being pleased with the legislation to being displeased with it and how the Treasury Secretary did not do what "they" wanted even though they wrote the legislation and bragged about how they went from a (I think) 7 page document to a XXX page document, while saying the Bush administration was a bunch of idiots for what the administration originally presented.
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and to the op---i'm not sure what more obama can do at this particular juncture---bringing pressure via the press does, however, indicate that he's already broken with the posture of the bush people relative to the financial system, which was on it's knees facing forward and making curious back and forth movements of the head.
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Honesty about the real condition of our economy would be nice and honest about the "stimulus" package. The reality is that this recession would naturally pass even without a "stimulus" package. The real goal is to fund pet projects and issues in my opinion.