General Discussion
In reply to the discussion: A question for Obama and\or his supporters here: [View all]fredamae
(4,458 posts)but I agree he along with a Majority did vote to approve it amidst loud public objections.
I admit I know little about finance, but I know enough to know this was/is a bad move on the surface.
What I don't know is what would have happened had these steps not been taken.
I guess my question is: Were We, the people late to the party by allowing this crises to build to the point of banksters getting "too big to fail"?
There were plenty of people during the last 30 years to warn us of this looming crises, (since Reagan) but clearly there was not enough people who believed the "impossible in America was possible". We are obviously awake and have placed the focus upon it now.
By the time This bad idea came along was it in fact too late to do anything else?
Who's opinion of "fact" can we trust, especially those of us who are not finacial wizards?