two people I have talked to lately about the economy said we had to give the money to wall street or else the whole economy would have crashed and that Obama's economy team did a great job saving the economy. Lets break down these myths.
So maybe the first one is partially right, if we let all the wall street banks fold we might be in big trouble right now, all the jobs lost, all the stocks and retirement funds lost. But its the way we saved them that bothers me. A great headline on huffingtonpost.com today mentions how we let the arsonist (Ben Bernanke) put out the fire and we called him a hero. Ok, so the whole house didnt burn down, but there wouldnt be any freakin fire without Bernanke, Geitner, Paulson and the top executives at the big wall street, Goldman, Bank of America, Citi Group, Chase. They should all be in jail.
When rocky returned from Russia in Rocky 5 to learn his accountant was a crook and burned down his economic castle did Rocky rehire the same account to get his economic house back in order? Oh no, thats right, Rocky fired his ass.