BC – The Government ‘circumvented’ a depression? The Government CREATED the recession. Psst – don’t tell.. the machine which greatly contributed to the bubble building and bursting 2 years ago was President Carter’s CRA. You know, encouraging (strong arming) banks to make loans they otherwise wouldn’t have made to low qualified/unqualified recipients.
In ’95, Slick Willy EXTENDED, the CRA. In essence, CRA on steroids years prior to the bubble bursting.
The problem has occurred far longer than the, ‘..better than a decade..’.
Heck, even Juan McCain and others were in chambers some 3 years prior to forewarn of this outcome.
Now, NOW we have Maxine Waters’ husband’s bank, getting ‘stimulus’ dollars, even when Mr. Waters’ bank had only ‘Tier 1 Capital’ value. Oh, my bad. It’s a minority-owned internet bank whose wife is a California pol.. all’s ‘fair’. Carry on!
As for your ‘things are a long way from being stable’ rabble. Take a look at Germany’s economic growth. You know, the Germany which DIDN’T heed to Obama’s ‘stimulus’ plan..
Your wunder-boy Obama has done next to nothing for the private sector. You know, the essence of what our economy is built upon..
