Name one thing Obama did that helped america

[signalmankenneth]

How about these things?

 

[Truth Detector]

President Trump; get used to saying it.

 

[Legion Troll]

Hmmmmm.....let me think..............nope, can't come up with anything other than make things worse for young blacks economically, make things worse for middle class Americans as a whole, double down on US debt and deficit spending and massively divide the country.

Are you pretending to care about the economic status of black Americans?

 

[Truth Detector]

Are you pretending to care about the economic status of black Americans?

Are you pretending to have brain?

 

[CFM]

Let's take Obama's hat one by one:

1) Record year of middle class income growth claimed yet the left is constantly talking about stagnant wages and the middle class declining. Which one is it?

2) Record 78 months of job growth. I thought Congress was the one that passed things to create jobs and Congress is controlled by Republicans.

3) 4.9% unemployment rate. Bush and other Presidents had that same rate.

4) Record low uninsured rate. How many of those damn freeloaders could only afford it because someone valuable to society was forced to fund the subsidy for them?

5) Low gas prices. I remember paying way lower when Bush was President.

6) 53% approval rating. With all the handouts coming to the freeloaders, who isn't going to approve of having something handed to them when they're too sorry to provide it to themselves.

You forgot record numbers of people on food stamps. In fact, it's 15+ plus million more than under Bush at the same unemployment rate. Can't the black guy do as good of a job at the same level? Guess not.

 

[CFM]

Are you pretending to care about the economic status of black Americans?

Black Americans don't care about the economic status of themselves. 1 in every 3 1/2 is on food stamps and have no intention of getting off of them.

There isn't but one person for whom the economic status concerns me and that's me. It's not my responsibility to be concerned about anyone else's status. That's their damn job.

 

[Althea]

Glass - Steagall should have never been repealed in the 90's, and needs to be put back in its full text repealing Dodd - Frank. Dodd - Frank is a watered down version of Glass - Steagall.

Actually, it's nothing like Dodd Frank. G/S would have done nothing to prevent the housing crash.

 

[Althea]

The board notes you did NOT produce the requested evidence for your statement. Only an idiot like you would accept obama's word that the companies he bailed out paid back the money.

You can either remain ignorant of the facts, and continue to stretch this thread with inane posts, or you can take the 5 minutes necessary to bring yourself up to speed.

 

[Althea]

Another monster obozo screw up is the 8 years of super-low interest rates. Pensions had always been able to invest in 30 year govt bonds that paid 6-8%. Under O it's been 2-4%. Pensions have had 8 years of lagging income while their payouts have not dropped. They are doomed.

You still have no idea what the Fed does? What were interest rates when Bush left office....and who sets the rates?

Silly child

http://www.tradingeconomics.com/united-states/interest-rate

 

[Althea]

At the same time adding 15+ million more to the food stamp roles.

Both Reagan and Bush increased public sector hiring in order to stave off unemployment. Would you suggest Obama do the same? What else do you do for the millions who lost jobs after the Bush era housing bubble burst....let them starve?

 

[Althea]

Some one Tutor this kid with this story, and explain to him the unpaid balance is held by the Treasury dept in the form of stock, and the Treasury Dept,has not sold their holdings. This story is very easy to understand, the Treasury dept. has been paid back with interest by the auto manufactures. Because I am done with this guy, all he has is a nunt'ah argument. No reason, no logic, just don't want to get along.

Correct. It seems many in this thread don't understand how the Treasury, or the Fed work. Another genius thing Obama negotiated with GM was to make the union take stock shares in lieu of other compensation. In essence, they would bargain against themselves in contract negotiations.

 

[Billy Batts]

Actually, it's nothing like Dodd Frank. G/S would have done nothing to prevent the housing crash.

That is not true. Glass-Steagall was a firewall between two different markets, depository institutions (Banks) and financial intermediaries (Investment Banks, Brokerages, Hedge Funds, etc.). A key tenet of a depository institution is that savers trust that their deposits will be there when they need it.

Depository Banks kept a ratio of cash on hand to meet this need and they loaned out the rest. However, the underbelly of the capitalist system is that during the business cycle, there comes a time when business cycles downward. Less demand results in excess capacity which drives greater liabilities for firms, job losses and eventually panic. Animal spirits are freed up causing depositors to want more of their cash back from the depository institutions.

The removal of the firewall between depository institutions and speculating financial intermediaries worsened with bank write downs of bad bets and hence the financial crisis. The depository institutions made bets (or speculated) with customers’ deposits in complex securitization markets. They were precluded from this behavior under Glass-Steagall. Capital cushions which they normally kept under Glass-Steagall were no longer adequate to meet post Glass-Steagall losses.

Dodd-Frank, did just the opposite of the Glass-Steagall Act. It allowed the abusive Wall Street banks to hold even greater amounts of insured deposits and to become ever more creative in how they abused those deposits. Make no mistake it has the full suport of our next President Hillary Clinton.

 

[Billy Batts]

Correct. It seems many in this thread don't understand how the Treasury, or the Fed work. Another genius thing Obama negotiated with GM was to make the union take stock shares in lieu of other compensation. In essence, they would bargain against themselves in contract negotiations.

Oh thank you very much, but I am sure we will still get Nunt'ah it is not paid back.

 

[PostmodernProphet]

You are obviously are not reading the whole story, and you leave out the fact, the story was a reply to the poster claiming the bailout money was a gift. So how can any automaker owe anything on a gift?

so now you say they paid it back when the didn't but they didn't have to pay it back when they did have to....../brillig!......you've doubled down in liberal ignorance.....

 

[PostmodernProphet]

Some one Tutor this kid with this story, and explain to him the unpaid balance is held by the Treasury dept in the form of stock, and the Treasury Dept,has not sold their holdings. This story is very easy to understand, the Treasury dept. has been paid back with interest by the auto manufactures. Because I am done with this guy, all he has is a nunt'ah argument. No reason, no logic, just don't want to get along.

there's a dumbfuck on every corner.....but rest assured, they are all liberals

DEC 9, 2013 @ 05:35 PM 17,468 VIEWS
Treasury Sells Final GM Shares, Sticking Taxpayers With $10 Billion Loss

http://www.forbes.com/sites/brianso...-taxpayers-with-10-million-loss/#66d16dc85449

 

[PostmodernProphet]

Are you pretending to have brain?

why yes.....yes he is......and a miserable job he's done of it so far......

 

[Stelakh]

You don't have a shred of evidence for any of those numbers.

Have you bothered to check with the Treasury Department? I did, you idiot.

- sent from my Samsung Galaxy Note 7 at 92mph!

 

[Althea]

That is not true. Glass-Steagall was a firewall between two different markets, depository institutions (Banks) and financial intermediaries (Investment Banks, Brokerages, Hedge Funds, etc.). A key tenet of a depository institution is that savers trust that their deposits will be there when they need it.

Depository Banks kept a ratio of cash on hand to meet this need and they loaned out the rest. However, the underbelly of the capitalist system is that during the business cycle, there comes a time when business cycles downward. Less demand results in excess capacity which drives greater liabilities for firms, job losses and eventually panic. Animal spirits are freed up causing depositors to want more of their cash back from the depository institutions.

The removal of the firewall between depository institutions and speculating financial intermediaries worsened with bank write downs of bad bets and hence the financial crisis. The depository institutions made bets (or speculated) with customers’ deposits in complex securitization markets. They were precluded from this behavior under Glass-Steagall. Capital cushions which they normally kept under Glass-Steagall were no longer adequate to meet post Glass-Steagall losses.

Dodd-Frank, did just the opposite of the Glass-Steagall Act. It allowed the abusive Wall Street banks to hold even greater amounts of insured deposits and to become ever more creative in how they abused those deposits. Make no mistake it has the full suport of our next President Hillary Clinton.

I understand that G/S was little more than a firewall. I thought you said that D/F was the same, albeit watered down?

D/F has been tweaked, unfunded, and ultimately works nothing like what was originally intended. But...it did make sure that banks cannot invest more than they have on hand in cash.

The reason I say the G/S would have done little to avoid the crash, is because there were so many private investment firms playing in the MBD markets that were not subject to the protections under G/S. Everyone was writing bad paper, with Wall St. demanding even more every day.

 

[Althea]

you claimed it was paid back and provided the story as proof, but the story stated that it was never paid back and we lost $20b.....as I said, you shouldn't link stories you haven't read......

Post 33 clarifies anything that you're struggling with. Banks paid back notes with interest. They couldn't wait to, as they didn't like the restrictions attached to the bailout.

You don't lose money on shares of a company unless you sell them at a loss.

 

[Billy Batts]

I understand that G/S was little more than a firewall. I thought you said that D/F was the same, albeit watered down?

D/F has been tweaked, unfunded, and ultimately works nothing like what was originally intended. But...it did make sure that banks cannot invest more than they have on hand in cash.

The reason I say the G/S would have done little to avoid the crash, is because there were so many private investment firms playing in the MBD markets that were not subject to the protections under G/S. Everyone was writing bad paper, with Wall St. demanding even more every day.

They were not precluded because Glass-Steagall was repealed in the 90's to assist CityGroup to merge with Trans America. This is why the recession was a bi-partisan screw up, not just Bush. Glass-Steagall did exactly what it was intended to do: it provided safer and more effective use of the assets of banks” by barring Wall Street investment banks from accepting deposits or being affiliated with banks accepting deposits". It prevented the “undue diversion of funds into speculative operations” by banning banks holding deposits from underwriting securities.

Glass-Steagall was good law and did the job for 66 years. Much of the lessons learned from the depression are slowly being repealed or watered down. You would think Law makers would have seen the problem,and just have Glass-Steagall re-codified, but instead they just crafted Dodd- Frank. Dodd-Frank, looked at the exact same type of market crash, the abuse of depositors’ funds, and the biggest economic downturn since the Great Depression, and did the opposite. It allowed the abusive Wall Street banks to hold even greater amounts of insured deposits and to become ever more creative in how they abused those deposits.