Forum Post: How rednecks ignore facts to blame Obama for the money Bush gave to the banks
Posted 13 years ago on Nov. 5, 2011, 8:14 a.m. EST by RichardGates
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TARP
The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase assets and equity from financial institutions to strengthen its financial sector that was signed into law by U.S. President George W. Bush on October 3, 2008. It was a component of the government's measures in 2008 to address the subprime mortgage crisis.
http://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program
Economic Stimulus Act of 2008
The Economic Stimulus Act of 2008 (Pub.L. 110-185, 122 Stat. 613, enacted February 13, 2008) was an Act of Congress providing for several kinds of economic stimuli intended to boost the United States economy in 2008 and to avert a recession, or ameliorate economic conditions. The stimulus package was passed by the U.S. House of Representatives on January 29, 2008, and in a slightly different version by the U.S. Senate on February 7, 2008. The Senate version was then approved in the House the same day.[1] It was signed into law on February 13, 2008 by President Bush with the support of a majority of Democratic lawmakers, as well as a minority of Republicans. The law provides for tax rebates to low- and middle-income U.S. taxpayers, tax incentives to stimulate business investment, and an increase in the limits imposed on mortgages eligible for purchase by government-sponsored enterprises (e.g., Fannie Mae and Freddie Mac). The total cost of this bill was projected at $152 billion for 2008.[2]
http://en.wikipedia.org/wiki/Economic_Stimulus_Act_of_2008
going off topic or expanding on this post is an invalid approach to discredit the facts at hand. this post addresses a specific misconception perpetuated by republican institutions and right leaning media. it is not intended to address the system at large.
Um, that money was paid back in full, with interest. Now the stimulus that Obama signed, almost a trillion down the hole. Obama owns this economy. http://www.youtube.com/watch?v=CQBSTomBWls this is over 2 years ago and it is worse now than it was then.
That is just the surface cash, $125 Billion. There is still over half a Billion in "troubled assets" - cash for trash that has no inherent value. Plus all the subsidized treasuries. All in - it cost well over a trillion dollars. The "payback" is a joke. Maybe you should do some research.
I wish they'd loan me billions of dollars, I'd gladly pay it back in a few months and keep the interest it earned. You fucking scumbag right wing racist homophobes whine about dirt poor people not paying enough taxes yet you defend the fucking banks looting our treasury. You pathetic fuck.
well, I guess if you cannot make a logical argument, you can always string together several insults in an attempt to belittle your opponent into submission.
Good job EndGlut, I see you point.
Lets not forget about the Trillion dollars in MBS that the FED took over from the banks and still has on its books.
it's worse for reasons out of anyones reach homie. the world powers can't stop it. don't get me wrong, i may not vote for him a second time. but i don't need to retard the facts to see someone fking up.
Each President is responsible for every yearly budget they've signed into law. The new President is not responsible for the budget that he inherits from the previous President on inauguration day, it's been signed, the deal is done.
However!!! The following Sept, he gets to sign a NEW BUDGET the he is COMPLETELY responsible for. No law can force the president to sign a budget that he/she doesn't like. By signing, they take full responsibility, and any President who tries to blame the previous for their own actions doesn't deserve the office.
http://en.wikipedia.org/wiki/United_States_federal_budget
how much of that budget is for war? you guna tell me obama is responsible for that?
http://en.wikipedia.org/wiki/Military_budget_of_the_United_States
i could shit on your floor, leave, then blame it on you. doesn't make it true.
And Obama is the Commander in Chief and could have just said "I'm done, bring the troops home". It may have taken a year, but it would have stopped the money hemorrhaging.
yes, he could have. probably should have.
Hey, I resemble that remark. Redneck<< Not all of us rednecks believe that. Some of us know what a criminal GWB is.
lol. see. these people obviously don't know any rednecks or they wouldn't take such offense. half my family has bumper stickers to the effect!
Rednecks can be as informed as anyone else. We just like BBQ more than most.
and catfish!
Mmm. Catfish. Hushpuppies, (My young daughter calls them "dog balls.") cole slaw, pickled green tomatoes, and brown beans, with a slab of raw onion. YEAH, BABY!
LMFAO. hell yeahs!
LOL ! You are very selective in choosing your facts sir ! Well known expendatures by the Obama administration include:
$968 Billion: American Recovery and Reinvestment Act of 2009
$ 12 Billion: Chrysler bail-out
$ 50 Billion: GM bail-out
Worse, we all KNOW that most of the $700 billion in TARP funds have been paid back ( see http://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program ) under the Obama administration.
The Obama administration is directly accountable for $1 TRILLION in new expenditures AND has spent the $700 BILLION paid back to us by the TARP beneficiaries. That's $1.7 TRILLION total.
lol. ok, so you blame obama for the money going out, but then give only credit to the banks for paying it back. selective, yes. this post has a topic. try sticking to it.
I thought the point of your post was that we should not let folks assign blame to one party or administration for the actions of another.
All I did was point out that BOTH parties have been on a spending spree.
I suppose your REAL point was "Republicans are to blame !"
Sorry for the misunderstanding, I'll try to agree from now on.
and the topic of this post was about TARP and the stimuLESS, being blamed solely on obama. you choose not to read and stay on topic. you only confuse yourself.
your initial reply "LOL ! You are very selective in choosing your facts sir " you can't be the aggressor and the victim. choose one.
Again, sorry for for failing to "go along." I'll try to do better.
so i agree to what you say or you are the victim. understood.
Ha ! Now I have the last word !
Both parties shovel money at the banks and corporations.
indeed. but again, this post is to correct misconceptions, not address the system at large. as stated in the OP
$152 billion is more money than the US spends in Afghanistan supporting the military.
"(Newser) – With budget battles in Washington growing ever fiercer and the US military poised to spend $113 billion on operations in Afghanistan this year, cost is going to be the largest factor in troop reductions there, reports the Washington Post. Afghanistan's inaccessibility and lack of resources means nearly everything the military uses must be brought in and built from scratch—roughly $1 million per soldier per year. “Where we’re at right now is simply not sustainable,” said one senior administration official. "
http://www.newser.com/story/119796/next-in-budget-crosshairs-afghanistan-war.html
thx!
Who you calling republican? HAHA cmon!!!!!! NO need to call people names. Lets grow up and realize that partisan politics is such a foolish game that no one ever wins. Voting based on party instead of issues is one of the ways the politicians learned how to manipulate us. They study our voting habits, manipulate our choices, bundle issues strategically within bills in order to force their will. Its so sickening how effectively they manage to fool even the most intelligent Americans turning them against each other.
to true. not contesting that at all
In case you're not familiar with it...
http://en.wikipedia.org/wiki/Gramm%E2%80%93Leach%E2%80%93Bliley_Act
you guys have a hard time debating the fact at hand so you want to choose a different topic. nothing about my post was about how we got here, only the misconceptions being driven by the right. deflection is for the uninformed.
My other post brought up the fact that Bush signed both of the measures into law and Obama HAD to follow the law. In my mind, that leaves no debate or argument. Bringing up the repeal of Glass-Steagall as another reason for all of this was just responding to other's posts. However, if we don't know how we got here, we'll never know how to fix it!
to true.
Exactly, they are at fault because they voted for Bush, therefore they want to blame Obama.
Regarding the economic mess, it's rare to see a mention of the repeal of the Glass-Steagall Act of 1933 in 1999. If something is responsible, that deregulation ranks pretty high. And everybody has had a hand in this so blaming one side or another is a moot point. When things are "booming" due to dot .com, it becomes difficult to see beyond the economic high. And both the Economic Stimulus Act and TARP were signed into law by Bush...Obama couldn't simply say he was not going to follow the law!
This is what the masses seem unable to grasp:
If we replace our current leaders with human beings, they will sell out just as far as the current bunch. Our leaders weren't born sold out. Wall Street executives weren't born evil. They were born human. With a natural instinct to gather and store for survival. A natural instinct to care for family and community.
When modern society was formed, we began to sell out our natural instincts. Survival turned into survival with a little more elbow room. Then survival with a little more elbow room and a nice view. Then survival with a little more elbow room, a nice view, and something pretty to hang around our neck.
Fast forward a few thousand years. With the industrial revolution came mechanized transportation, air conditioning, and television.
We had become somewhat spoiled. Somewhat motivated. Still relatively down to Earth. Still modest enough to appreciate one another, care for one another, and work towards a common goal.
Along the way, the potential for increased personal wealth became more and more intoxicating. Now, just about everyone wants to be rich. They want it so badly, they are willing to sell out basic morality to attain it. They WILL sell out basic morality if given the opportunity.
How can I be so sure? That's easy. Human nature plus years of corrupt influence plus opportunity.
Mother Nature did not plan for modern society. She did not plan on such corrupt influence. She never intended for any of us to seek or attain extreme personal wealth. We simply can not process the concept without being corrupted by it. Without compromising basic morality.
Extreme wealth is the single greatest corrupt influence of modern society. With every 'zero' on the paycheck, our basic instincts to care for family and community are compromised.
Those of you who still aren't convinced, consider this:
If God himself gave you the power to end poverty, bring about world peace, and take a bonus of $100,000,000 for yourself, would you do it?
If God himself gave you the power to end poverty, bring about world peace, OR take a bonus of $100,000,000 for yourself, which would you choose?
Not only is the greatest concentration of wealth in world history the single greatest underlying cause of economic instability. The very concept of extreme personal wealth is the most corrupt influence in the history of mankind.
I speak the ugly truth.
There will be no reform on Wall Street.
There will be no recovery for the vast majority.
There will be no government "of the people" and "for the people".
Not one of us will live to see it.
Both sides of the fence are guilty.
not sure why it's so hard to grasp for everyone that this post, addresses a specific misconception perpetuated by republican institutions and right leaning media. it is not intended to address the system at large.
TARP got more Democratic than Republican votes in both House and Senate.
did you read the post. are you debating the facts i have presented, or just trying to hold on to an excuse to hate "the other". for someone to debate something with you, you need to contest their position. since i have declared no position on congressional voting on either bill, that means you're ASSuming.
The title of your post attacks those who disagree with you as "rednecks," and you accuse me of hating "the other"? You aren't worth debating.
Eat my ass homie
read the rest of this page before you continue ASSuming :)
you are missing some keep points here. Bush authorized it, Obama administered it. Both were wrong for doing it.
On April 19, the Obama administration outlined the conversion of Banks Bailouts to Equity Share.[27]
Plus, MOST conservatives were against it from the start, even when Bush was pushing it.
http://en.wikipedia.org/wiki/Economic_Stimulus_Act_of_2008#Impact
yea, dude you need to reorganize before trying to talk to me. you just said obama followed the LAW signed by bush.
but none of that was mentioned above. Obama could not have repealed it? You make your above statement sound like it is ALL Bush's fault, which it is not. It is both sides. Both sides are doing what they can to maintain their political power at the cost of selling out the citizens. It goes back further than Bush.
no. the president cannot unilaterally repeal a law. go away son, ya bother me.
oh BS. Obama can repeal most of what Bush did the last 9 months of his presidency. Others have done it in the past.
You made this post to be inflammatory, to posted half truths to make Bush look back. Bush proposed it, congress approved it Obama administered it. You probably cannot even admit your true intentions to yourself, more less us. But the truth is you created this thread to be controversial and inflammatory.
You just hate Bush and that is why you are bias to the truth.
I bet you cannot name one thing you agree with Bush on and one thing you think Obama did wrong. I can. The war in Iraq. I applaud Obama for ending the war, or at least proposing it. I think Bush was wrong to go into Iraq. His intell was bad and even if Iraq had WMD, the world was watching him so close, he could not sneeze without the world jumping on him.
hey dude. you can argue with me all you want. i don't set reality nor did i do anything but copy and paste the material up top. you don't like the facts, take that up with the source.
the obama question: obama has furthered the patriot act. thumbs down, there are more.
bush: no, dude was useless. look up what his daddy does for a living, and the connection between prescot bush and the muslim brotherhood. old power homie.
and still you cannot see how you being bias makes you misinterpret the facts?
Okay, good luck with that.
You RichardGates, are a troll. You come on here making inflammatory statements of half truths in an attempt to push your leftest position. You, although you will blindly disagree, are as bad as the extreme right-wingers that come on here pushing their bias slogans.
well, i do not deny that i can be an ass. but i give far to much of myself to this movement for you to call me a troll. untill i saw the ows brand for what it was, i was an IWG mod and helped others to develop their projects. true, i am a liberal. for you to point out party affiliation shows your distance from reality, you have to choose a party to even vote jack ass.
oh yeah, there it is. Your answer to an argument, an insult. Good job Richard...
are you saying I need to choose a party or that you are not party affiliated? Are you saying you do not vote?
this is from your first post.
"you are missing some keep points here. Bush authorized it, Obama administered it. Both were wrong for doing it. On April 19, the Obama administration outlined the conversion of Banks Bailouts to Equity Share.[27] Plus, MOST conservatives were against it from the start, even when Bush was pushing it."
don't try and act above party lines while towing them.
I take it you so offended that you cannot even do that. best wishes to you too.
One thing I will leave you with, take a look at yourself and ask yourself, what is it that BrianC said that will not allow me to answer his question. What if BrianC actually was just simple confused by my statement, why would I not clarify it for him, or at least TRY to clarify it.
because you are arguing how i address the topic rather than the topic itself. but you knew that.
and again, you made a confusing statement and I asked for clarification, and again, you fail to provide any. Why is that? Why is it that you are not even willing to have a coherent conversation about our differing views. I guess I should have know this when you stated throwing out insults.
Would it make you feel better if I took the blame. Okay. I did not understand your statement "you have to choose a party to even vote jack ass." Are you, Richard, using the proverbial YOU as in 'RichardGates has to choose a party to even vote jack ass' OR did you mean, me, BrainC has to to choose a party to even vote jack ass.??? Is there any OTHER way I can ask you to clarify this, or are you so offended that you cannot even do that?
you are intentionally being irrational. best wishes.
See, I told you that you would "BLINDLY disagree..."
I stated my party preference, you failed to acknowledge it.
you only confuse yourself homie.
towing party lines? By pointing out the faults of Bush and the faults of Obama? By saying both were wrong? BOTH! Which party is that?
You just dont get it.
BTW, you did not answer my question. Your statement above is confusing, and I tried to ask a question to clarify. You said, "you have to choose a party to even vote" Are you saying I need to choose a party or that you are not party affiliated? Are you saying you do not vote?
you stated "attempt to push your leftest position." yeah, most of us do have a party we feel better represents us. by accusing me of being a "leftist", you expose your own party preferences.
still blaming Bush?
More each day I'm liking the idea of a mandatory IQ test to determine voter eligibility.
HAHA everyone talks about Bush like he was the worst president ever, but his presidency was the perfect cover for a dangerous political strategist like Cheney to do his work. Bush was simply the idiot on stage used as a tool of misdirection. I still watch his speeches just to get a few laughs.
wasn't a very good speaker under pressure was he. lol poor monkey.
in his defense, with his hand fresh off the Bible to get hit with Clintons dot.com crash then 911. I'd be surprised to learn the man ever got any sleep at all.
Always sounded as if he was 30 hours past due for his nap.
there is a difference between just blaming, and correcting misconceptions with facts. that shows a lack of ability to discern on your part smart guy. all i did was post facts. no spin, no interpretation, just facts. you fail, no voting rights for you.
seems to me you pick and choose "facts" that point the finger away from your presidents failures and to the worn out democrat excuse for those failures. Bush.
had the senate listened to Bush in the 1st place we could have quite possibly prevented any market crash and recovery attempts AND any bailouts.
I may be mistaken about you and if so I apologize. Maybe it's not that you are a die hard Democrat posting one sided propoganda. Maybe the truth was simply kept from you.
Have a look at this, it touches the surface. and If you did further you'll be so ashamed of your party you'll never vote democrat again. http://startthinkingright.wordpress.com/tag/bundle/ ^ that basically points out Bill Clinton and Barney Frank as the cause of the 2008 market crash. further investigation will reveal your darling president, then senator Obama, accepting campaign contributions from AIG to NOT prevent the crash.
and all they had to do was point the finger at Bush and you bought it
Its disheartening to witness how people blindly back candidates based on party affiliations. It is the goal of elites to set us against each other with this partisan bickering. We do need to look at facts.
I am sure the task of running a country is far beyond the breadth of our combined experience. we do not really get real black and white hardcore facts. What we get is fodder to start the fires.
I am not a partisan voter, I decide my vote based on different policies, debates, eloquence, education, absence of scandals, etc.... However, since we are being played by both sides it is damn near impossible to choose a viable candidate.
Presidential elections are becoming more and more controversial. Election after election It shatters American support into tinier and tinier pieces. Elections have come down to a science.
Your president, my president, his president, our president....... Who's president can fix this country? That is the president I want. I could not care less about his/her political affiliation, as long as we can get back to being a united country in the pursuit of life and liberty. Shit I would accept a Palin if I thought she had a brain bigger than a gnat. I'm so tired of rhetoric and propaganda to drum up support.
We cannot allow ourselves to fall for political stunts anymore.
well that would be great, if my post was about the cause. but... it wasn't. secondly, you ASSume i supported clinton. i voted for three republicans in local elections here on our last set. your obvious hate is spilling over.
You and I won't let them forget the truth.
yes, it is quite interesting to hear people jump down Obama, ass for the current situation while praising bush jr.. Bush was a train wreak of a president, and you only need to look at the history of the companies he ran, they all went bankrupt! it should be no surprise then, how he took a surplus and turned it into the larges deficit in world history,. don't get me wrong, Obama is just a continuation of these same failed corporatist policies,. very little has changed under this new president,. proving that both parties are wings of the very same single corporatist party. it is not a two party system,. it is a fascist state. bush was a fascist and so is obama.
Please help me make this.
Need help making a t-shirt. We need to draw a picture of Zooccotti Park with a cage around it. Here are some ideas: Draw a hippie climbing the cage like a monkey and throwing shit.
Draw a hippie rolling in mud and shit like a pig.
Draw a hippies fucking like dogs.
Draw a picture of a hippie eating peanuts like a big fucking elephant. Draw a hippie as a lazy fucking Ape doing nothing.
lol. good morning.
will the real Dick Gates please stand up,. or is that a split personality disorder??
dude is a troll. look at the letter case. gates-Gates
nice take homie!
Calling people names just because you disagree with them is simple minded. That is a leftist trait and is very transparent.
Leftist? Get real... Labeling and name calling are used by any group that seeks to define its boundries or ideology, starting in preschool. It is found in every nation, every religion, every class, every political group, and is linked to the way humans think. Our brains sort and categorize and it takes effort to erase those mental groupings. Those who wish to manipulate public opinion are practiced at understanding and applying labels for effective emotional reactions which are intended to supress logic and rational thought. People can use them in every day life as communication shortcuts, affinity with a group, or out of sheer laziness. In no way does this practice belong to one small part of humanity.
Your are a torn bung hole.
Why did you write that? What purpose did it serve?
I didn't. dude is a troll. look at the letter case
Noted... Do you have to surf around trying to clear your name?
na, most of the time i just bump this thread till they go away.
wow. you spell as well as i do. sweeet.
fkn awesome!
oh shut up...your post is boring & too long.
Youve hurt my feelings, im crying...oh wait, those are from laughing so hard! Sorry, for boring you, but i find propaganda fascinating, as well as psychology and sociolgy and how they all interact. Didnt you see the irony in your own post? You were blasting the author for labeling while you were doing it yourself...
you are dull. just read. don't post anymore.
And you are content to wallow in ignorance? What excites your brain? What subject grabs your attention and makes you want to learn more? So far, you havent put more than two sentences together, and every post here is nothing more than attempts at insults. Are you delighted with nothing more than generating negativity and hostility, and building your sense of self superiority? I sure hope you have some other interest, because you dont have much talent as a sower of dissent. Come on--you can do better--put me down like a tv wrestling champion. Destroy my self confidence; make me feel vapid and ignorant. Demonstrate to everyone that you are a master of wit and language. Or alternatively, tell me why it makes you feel good to toss insults instead of having a conversation....
Hi sweetie. You are not fun to communicate with. Too much anger and bitterness. Advice: Buy some new clothes...Get some exercise....eat right....and don't spend so much time alone......
You are right. My sister is dying of breast cancer and i cant be there with her. I try to divert my mind to keep from feeling pain. I am angry at god and sick of watching forces that sow ugliness and hurt across the globe. Try not being one of those people queenann. Try bringing a little brighness into the world instead of insulting little quips.
Not meant to insult you...You are misinterpreting. Sorry about your sister. Have a good weekend.
U2. Peace
faith, little over the top girly.
True-- i am a raw nerve
i have my own troll lol. i'm so special. the ows doesn't like me because i don't support their brand, the right hates me because i do support the protesters. no room for a pro-capitalism liberal. so i made my own land of ideas. still new but you should check it out. http://citicommons.com
I gave a look, and dont see where you define your ideology. While i do see anti capitalist posts in this forum, i see more pro capitalist posts that simply want safety controls built into the system, application of justice for wrongdoing in the system, and a voice in affecting the system that has so much power over our lives now.
I noticed years ago that there was an essential change in the markrtplace. Service was no longer important because any single dissatisfied customer had no effect on the business. Management simply no longer cared about keeping the customer happy because there were a thousand more customers who had yet found cause to complain.
This same attitude seems to have seeped into every aspect of our existence, removing any redress for wrong or way to affect a change. We have become so numerous that the individual and small groups are insignificant. In government, we have now been supplanted by big donations, big power, big promises of paybacks. Individual freedom has been replaced with a false sense of national security, while economic security belongs only to the elites.
How does this leave no room for a pro capitalist liberal? Are you against regulation, or what? ( this is a serious question, not baiting)
lol. i don't feel like an outsider. but i am realistic in accepting that you must tow the line of one party or the other to make small minded people happy. i've no interest in towing any line.
well. to prevent any slant or making people feel out of place, my ideology will not be involved with citicommons. i am for fixing our system but do not pretend to have all of the answers. i feel collecting writers and bloggers from around the web, we can get closer to a non-partisan solution(s) while educating each other, and break the partisan divide.
Well, good luck... Sorry that you feel like an outsider, but that kind of goes with being liberal, i think. We dont require a full subscription, and are content to let everyone be true to the principles that are important to them. It is, i think, what makes conservatives see weakness or a lack of cohesiveness. It is so contrary to their way of existing. A great (and free) book on the subject based on a wealth of research that might help you find a way to build that bridge:
http://home.cc.umanitoba.ca/~altemey/
From my understanding this not about supporting ows, but rather ows supporting the need for equitable justice and representation--thus the lack of specific demands and the emphasis on focusing your own method to affect the system ( boycott, protest, letter writting, petitions, etc.). As a group they elect to participate in support of some major actions.
yeah. that why citicommons. ows has a leadership with goals outside that of the protesters they lead. people are finding out, topped with the type of stuff going on here, is also going on everywhere. i plan on citicommons being around for a while. it's basically a citizen journalism project.
look man, you may not know this because you aren't from a midwestern family, but most of my family calls themselves rednecks. you need to relax.
That is very nice....but the term redneck is used in a derogatory fashion here.... And any self loving redneck would object. God Bless the rednecks.
lol. indeed. god bless. sorry if you took any offense. might i recommend some episodes of the http://www.comedycentral.com/shows/chappelles_show/index.jhtml
or
http://channel.nationalgeographic.com/channel/rocket-city-rednecks/
if you really want to move forward, learn to appreciate our diversity instead of pretending it doesn't exist.
Yo man....thanks for the link. Those comedy central chappelle clips were the bomb. Have a great day. God Bless America.
I hate America.
i bet you do
lol, word