Exactly what is Obama doing differently than Bush with respect to bailing out the banks?

[brentspeak]

As far is A.I.G., Citi, etc. are concerned, all he's doing is simply throwing more good money after bad. And now we're getting reports that hedge funds will be getting huge loans. Goldman Sachs, not in the same kind of trouble as A.I.G. and Citi, has already been getting loans, and been using them to buy back their own stock.

[Xipe Totec]

1. What is this? President Obama should play opposite day?

Oh, I know, Bush was such a fuckup, I don't have to think!

All I have to do is the opposite of what George Bush did and everything will be fine!

:bounce:

That's it? That's the plan?

:shrug:

[DCBob]

2. Accountability, oversight, transparency, reporting, and strings attached.

Huge obvious difference.

[brentspeak]

3. Where's the transparency? Bernanke refused the other day to reveal loan recipients.

[DCBob]

6. Some information could cause more harm than good.

Revealing the loan recipients could affect the firm's credibility and their business. Bush/Paulsen had a 3 page plan that provided zero transparency, no strings and no oversight for $700B. Huge difference.

[brentspeak]

11. In other words, there is no transparency, and it's just business as usual

[gristy]

4. Well, at least he feels bad about pissing all this money down the drain.

He does feel bad, doesn't he???

[Demeter]

5. Nothing Different Yet

He's letting Geithner hang himself. Unfortunately, all the rest of us are also on the line.

[masuki bance]

9. Yeah

Geithner is gonna take the rap.

[MarjorieG]

7. Obama and others say that some at fault will have to get help, along with the rest of us.

We are still determining the health of banks. One size remedy does not fit all, and only some worth more cash infusion.

[soccermomforobama]

8. I think we are going to have to wait for the stress tests to be

completed and they (Geithner and others) really know what we are dealing with.

[BlooInBloo]

10. Obama's betrayal is worse than a fart in my face.

[leftofthedial]

12. nothing substantially different.

slightly more communicative about the money he's giving to the lords of finance, but still no info about how it's used. Still no discernible effect, other than continuing bonuses for the thieves.

[Median Democrat]

13. Mortgage Plans Are Dramatically Different

I think Obama's mortgage plan is night and day, since it allows substantial revisions to mortgages to reduce foreclosures, which were putting a strain on the finanicial system:

1. Revision of mortgages.
2. Bankruptcy law reform allowing cram downs.

You could not fix the financial system without taking steps to stem the rise in foreclosures.

[uponit7771]

14. Oversight, making them lend to people who need better rates.