Obama’s bailout plan helps the corporations who caused the economic mess, and not one of their victims.
Trickle-Down Obamanomics
Ted Rall
Ted Rall is a syndicated political cartoonist for Andrews McMeel Syndication, WhoWhatWhy.org and Counterpoint. He is a frequent contributor to The Wall Street Journal, a graphic novelist and author of many books of art and prose, and an occasional war correspondent. He is, recently, the author of the graphic novel "The Stringer."
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trickle-down hope!!! this is the second time you borrowed something very similar to what I've said on your blog, Ted
Where are my royalties!?!? Where is the Bailout for Aggie Dude!?
If it had worked, the liquidity might have improved the employment outlook. Of course , without oversight the funds don't seem to have gone to the intended purposes. Most of the TARP funds were squandered on Bush's watch, so it doesn't seem fair to pin that on Obama, who did parley his considerable political capital into a stimulus bill that may not be very stimulating. 40 % of it is tax cuts that don't do anything for the unemployed, what remains is less than $500 billion, a fraction of what is needed (per Krugman). It's better than nothing, but it's not clear that there's any consensus for getting any more.I may just start printing my own money, I've heard that people who buy ink by the barrel are not to be fucked with.
It's also worth noting that the people who run the banks say they DIDN'T need the TARP money.
Yahoo did not run this cartoon. Dorme bene…
It's also worth noting that the people who run the banks say they DIDN'T need the TARP money.
That's correct. And B of A was forced to take Merryl Lynch. That's what happens when government bureaucrats try to run things. well actually Fannie and Freddie is what happens when government bureaucrats. But Dodd and Frank got their cheap loans so the hell with everyone else.
Correction: It's called "Trickle-On Obamanomics." We had it earlier as "Trickle-On Reagonomics." Anyone having problems after the EIGHT DESTRUCTIVE YEARS OF THE BUSH-BASH MIS-ADMINISTRATION, pull this one out of history's excrement-coated ass: "Just DO it!" — Nancy Reagan
I don't like money going to the banks. However I have no sympathy for most of the people being foreclosed on. They bought overpriced homes that they could not afford and caused home prices to skyrocket. This made it impossible for responsible people to buy a home. Now they are crying that they owe more than their home is worth. They are complaining that home prices are going down to normal levels.Fuck them. They overpaid- they have to deal with it. Why should renters have to pay for their irresponsibility?
I hope more lose their homes so prices go down to normal levels.
Before you bring up the banks and rich getting bailouts-I am not in favor of that either.