President O'Blame-a

OK. I am trying to keep an open mind about our President, but if he says one more time he "inherited" the problem I am going to puke. I don't care where the problem came from just fix it. This guy spends too much time on PR and not enough time running the country.

And for the record Mr President - what you inheritied was at the very least was liberal economics - but I am willing to meet you half way and say it was both the republicans and the democarts that started this mess.

What you inherited is now your job to fix. Be a leader.

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you [Obama] inheritied was at the very least was liberal economics

Soaring deficits, banking system under collapse, out of control military spending, little or no oversight of financial institutions…

What he inherited was Reaganomics...

Go read Paul Krugman

http://www.nytimes.com/2009/06/01/opinion/01krugman.html?_r=2&ref=opinion

"This bill is the most important legislation for financial institutions in the last 50 years. It provides a long-term solution for troubled thrift institutions. ... All in all, I think we hit the jackpot." So declared Ronald Reagan in 1982, as he signed the Garn-St. Germain Depository Institutions Act.

He was, as it happened, wrong about solving the problems of the thrifts. On the contrary, the bill turned the modest-sized troubles of savings-and-loan institutions into an utter catastrophe. But he was right about the legislation’s significance. And as for that jackpot — well, it finally came more than 25 years later, in the form of the worst economic crisis since the Great Depression.

For the more one looks into the origins of the current disaster, the clearer it becomes that the key wrong turn — the turn that made crisis inevitable — took place in the early 1980s, during the Reagan years.

Go read it all…

From SensorG: What he inherited was Reaganomics...

So, up until Cowboy Ron rode into town everything was in good shape, is that what you and Krugman are trying to say?

You just feel free to correct me if I'm wrong, SensorG, but right after Cowboy Ron we had King George I, and then, being sick and tired of the Stupid Party and in Our Infinite Wisdom, We The People elected Slick Willy for two terms of entertainment, outsourcing and deregulation of the financial industry. You don't have to take my word for this, go look it up in a history book instead of relying on someone's opinions. Slick Willy set the stage for King George II and a US Congress controlled by moonbats to bankrupt the US.

Now we have The Anointed One who won the moonbat nomination and the election on a platform of change - insofar as any politician has a concrete platform, that is.

True, The Anointed One inherited a mess, but Himself knew that before he started his run for election. Now he's bitching about it because Himself can't fix the US in six months or less, and Himself isn't getting the kind of fawning, subservient cooperation from the anti-freedom special interest groups who helped elect him and who Himself has put on hold, nor is Congress showing Himself the kind of obsequious support Himself thought would be forthcoming.

The Anointed One is learning. Give Himself time, and he'll screw the pooch too.

Mad Jack
Mad Jack's Shack

I liked the part about how Reagan made things worse. Worse in comparison with what-the Carter administration? This mess, now completely mishandled, will become known as 'Carter 2.0'.

When George W. Bush became President in 2001, the 9/11 and the economy were Clinton's fault.

When Bill Clinton took office, it was George Bush's fault.

Reagan had a "Carter Recession".

Carter was handicapped by wage and price controls put in place by Nixon.

And so on until we get to the Continental Congress, which officially began blaming the British for the country's woes on June 4, 1776.

There's a city full of walls you can post complaints at

"9/11 happened on Bush's watch"

Isn't that a direct quote from Libs/Dems?

So, who's "watch" is it now?

 Who gave GM and Chrysler BILLIONS of taxpayer dollars before they went bankrupt?

Who gave "Big Insurance" BILLIONS of taxpayer dollars to remodel their offices?

Who gave BILLIONS of taxpayer dollars to "Big Banking"?

It happened on Obama's watch. Period.

Don't blame me,
I didn't vote for a
socialist.

From Wikipedia: "On December 19, President George W. Bush announced a $13.4 billion rescue loan for the American automakers, including Chrysler."

There's a city full of walls you can post complaints at

A LOAN....as in something that will be paid back with intrest...

Bush didnt rape GM secured Bond holders...

VS...

a TAKEOVER....a leverage buy out that we will never see repaid in exchange for CONTROL over that company...

And secured bond holders got hosed....

Pension funds.

GM and chrysler are DEAD.

Go FORD!!!!!

I was going to buy a new challenger....not anymore...

I will be buying a new mustang instead...

Jeep will be renaming the "partiot" to the new "Comrade"

“Political correctness is a doctrine, fostered by a delusional, illogical minority, and rabidly promoted by an unscrupulous mainstream media, which holds forth the proposition that it is entirely possible to pick up a turd by the clean end.”

http://news.yahoo.com/s/ap/20090601/ap_on_go_pr_wh/us_obama_gm

Printed by the AP on Mon Jun 1, 6:24 pm ET

That would be yesterday for you mindless Obama ass-kissing democrats like BananaInHand.

"The administration will provide GM with an additional $30 billion in aid to help it restructure in addition to the $20 billion the auto maker had already borrowed from the Treasury." Also "...would give the U.S. government a 60 percent controlling stake in what was once the world's largest automaker."

Why the hell would mommy gubberment give an additional $30 billion dollars to a company that is going bankrupt? And how was Bush involved in yesterdays $30 billion down the $hitter?

That makes mommy gubberment yet another in a long line of investors who WILL NOT GET PAID BACK. That is what Chapter 11 is you drooling moronic dolt.

http://en.wikipedia.org/wiki/Chapter_11_bankruptcy 

"Bankruptcy affords the debtor in possession a number of mechanisms to restructure its business. A debtor in possession can acquire financing and loans on favorable terms by giving new lenders first priority on the business' earnings. The court may also permit the debtor in possession to reject and cancel contracts. Debtors are also protected from other litigation against the business through the imposition of an automatic stay. While the automatic stay is in place, most litigation against the debtor is stayed, or put on hold, until it can be resolved in bankruptcy court, or resumed in its original venue.

If the business's debts exceed its assets, the bankruptcy restructuring results in the company's owners being left with nothing; instead, the owners' rights and interests are ended and the company's creditors are left with ownership of the newly reorganized company."

Did you catch that point? I even highlighted it for you. Now get out of your basement and have your mommy read that part to you. Chapter 11 opens up YOUR TAXPAYER MONEY TO BEING LOST since the Obama administration now owns 60% of Government Motors. And, according to Chapter 11 Bankruptcy laws, if depts exceed assets, that 60% IS MEANINGLESS. Because 60% of nothing is still nothing.

Don't blame me,
I didn't vote for a
socialist.

You know, LibsCanBlowMe, it's really immaterial how we got here or who is responsible. We're in the middle of a desert with no water. Our guide has a busted compass and a map of the Bahama islands instead of the Mohave desert. Our camel is getting cranky.

The crux of the bankruptcy, if debts exceed assets is being carefully overlooked by commercial media, mainly because I don't see how the debts could not exceed the assets by a huge margin and neither, I suspect, does anyone else.

The purpose of bankruptcy in a business is to allow the business to start over. I believe about half the businesses that successfully file bankruptcy actually succeed - the other half fade into obscurity.

Anyone want to buy a used factory?

Mad Jack
Mad Jack's Shack

And you have the stones to call me a moron?

That would be yesterday for you mindless Obama ass-kissing democrats like BananaInHand

Tonight... You.

Why the hell would mommy gubberment give an additional $30 billion dollars to a company that is going bankrupt?

The government is getting a 60% of the new GM stock. Existing shareholders, myself included (I bought a certificate at OneShare.com), are wiped out. The crap like debt and shuttered factories will be left behind in the old company and liquidated. The factories not scheduled to be closed will be sold to a new holding company, of which the US govt. will own 60%.

There's a city full of walls you can post complaints at

Do you grade on a curve? Is this pass/fail or what? What if I just get most of 'em right?

"9/11 happened on Bush's watch" Isn't that a direct quote from Libs/Dems?

True!

So, who's "watch" is it now?

The Anointed One

Who gave GM and Chrysler BILLIONS of taxpayer dollars before they went bankrupt?

Which time? King George II gave a lot of money to the auto industry, but then The Anointed One came along and gave them some more.

Who gave "Big Insurance" BILLIONS of taxpayer dollars to remodel their offices?

Either The Anointed One or somebody else.

Who gave BILLIONS of taxpayer dollars to "Big Banking"?

The Anointed One and Congress.

It happened on Obama's watch. Period.
True!

That was easy enough for public education.

Mad Jack
Mad Jack's Shack

Treasury is an executive branch department and TARP is a Treasury program, therefore the Bush Administration gave $350 billion to big banking and auto manufacturers.

Sure, Obama's going to hand out the other $350 billion, but he was still a candidate when the original disbursements of TARP money was released.

There's a city full of walls you can post complaints at

What do you expect from the fraud and foreigner, the president usurper Soetoro/Obama, who has failed to prove he is a natural born citizen?

One thing's for certain---he continues to try and cover up the war crimes of the previous administration, which makes him complicit in my book.

Pink Slip

What do you expect? If The Anointed One actually tried for full disclosure about war crimes, complicity and Lord only knows what deals were made in the name of fighting godless communism, I'd be surprised if one in ten members of Congress would be left standing. Shoot, the United States couldn't afford that kind of a 'gate' right now, and probably won't be able to afford it for the next ten years. As appealing as it would be to throw all the rascals in jail, the trials wouldn't start for five years, and I'll bet you couldn't find enough Congress critters to staff an investigative committee.

Mad Jack
Mad Jack's Shack

What are you on, acid? Every time he opens his pie hole its' " I inherited all these problems, especially the ones I'm going to make even worse."

I am willing to give him the year on the economy.

Bush had 4 months in office since the Sept crash. If the Pres. can't turn it around come Nov then I'll only then will I hold him accountable for it.

I still believe the President has little power over the economy, although that hasn't stopped the current President from trying to spend us out of it. But I will say I don't feel confident in the people he has making policy.

Geithner should be fired. Plain and simple. There is only one person in the admin who's proven her effectiveness and that's Secy Clinton. He should ask her to resign her State duties to take over as Tres. Secy because they need leadership BAD. In her place he should nominate Lieberman. Both have the right letter after their name and both have proven to be leaders.

As far as GM. Well I'll just say I told you so. Giving them any loans, buyout, bailout whatever you want to call it was stupid. As it was with Chrysler. And as it was with TARP. The economy should have been left alone and if any change should have been made it should be to get us away from the Federal Reserve system and back onto the old standards.

MikeyA

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