Quote:Lol, you fell for that too big to fail mularky. I didn't.


And it must be nice to be an American employed by the government within our globalist war machine to sit on your high horse and tell us how hard working Americans in the auto industry don't need to have their jobs. Lets just let other countries have an auto industry. That's nonsense.


As for the sub prime crises, the increase in sub prime Lending happened under Bush. That's just a fact.

 

Wrong again on many counts.

 

First of all, when Lehman Brothers was allowed to fail, there were three other banks that were in basically the same position.  Other banks were basically forced to buy out two of the troubled banks (Bear Stearns and Merrill Lynch) while another bank received some relief from the Fed (Goldman Sachs).  Those banks held the vast majority of the nation's debt as well as a large majority of assets.  Had they fell as well the stock market(s) would have basically collapsed not only here, but globally.

 

Second of all, I am not employed by the government.  I happen to work for a contractor (Boeing) that is under contract with the government.  Two different things.  Just because the company that is employing me happens to be under contract doesn't make me any different than any of the other millions of hard working employees in other fields.

 

The auto industry got themselves in trouble mainly because of union demands.  How did the bailout of Chevrolet and Chrysler work out for places like Detroit?  Even now domestic auto production is moving out of the country because of high costs mainly related to over-regulation and union demands.

 

Regarding the sub prime crisis, it started in the late 80's/early 90's.  You are probably too young to remember, but back then there weren't a whole lot of "check cashing" and "payday loan" types of places.  As rules eased up these lenders started springing up everywhere (and it's still happening).  Banks were often "encouraged" (forced) to loan to people that couldn't afford the terms.  The practice did accelerate during the early 2000's, but a democrat congress refused to do anything about it.

 

Like the good liberal that you are you want to blame Bush for the economy and the housing crisis, but the truth is very different.

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