Transcript of School Speech by Obama

The stock market was broken, as was real estate and the banking system. It needs reformed and highly regulated.

But we couldn't let it fail as the whole economy would collapse and too many people would have lost everything.

But the key is reform and regulation. The bailout is all for not if steps aren't taken to prevent it from happening again by regulating credit default swaps and other things related to toxic assets, having firmer rules and requirements for giving loans etc.

But you can't let the country fall into another great depression with a huge chunk of the population losing all their savings, no one or no business able to get loans etc. The bailout was necessary to avoid setting the country back a 100 years economically.

But it must be coupled with a lot of new regulations on wall street and the banking industry or it's all for naught.

Financially, I don't think it will work out all that bad. A lot of the bail out loans have already been paid back with interest. I doubt the government will turn a profit on these loans, as some one get paid back as companies still fail. But the loss shouldn't be that great in the long run from what I've read so far.

The real key is whether they have the balls to put the needed regulations in place.
 
[quote name='dmaul1114']The stock market was broken, as was real estate and the banking system. It needs reformed and highly regulated.

But we couldn't let it fail as the whole economy would collapse and too many people would have lost everything.[/QUOTE]
Bullshit. The whole economy wouldn't have collapsed. It would have been a bit worse in the short term, possibly, but in the end everything would be better. Now, because we have used all of these trillions, not only will the economy collapse, but you will see the dollar lose much of it's value.
But the key is reform and regulation. The bailout is all for not if steps aren't taken to prevent it from happening again by regulating credit default swaps and other things related to toxic assets, having firmer rules and requirements for giving loans etc.
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The crisis isn't over. The bailouts only delayed the inevitable, and inflated the bubble a bit more. The commercial real estate collapse is coming. We may even see a collapse of the dollar because the dollar has been inflated so much.
But you can't let the country fall into another great depression
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That's what is going to happen because of this. There were at least two bubbles. The commercial real estate bubble, and the residential real estate bubble. The third was created by the government, the bailout bubble. These bubbles are going to burst, and when they do, it's going to create the greatest depression.
with a huge chunk of the population losing all their savings,
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Bullshit. The collapse of AIG, Goldman and co. would not have wiped out many people's savings. However, the devaluation of the dollar as a result of these bailouts will.
no one or no business able to get loans etc.
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You know what a low interest rate causes? Inflation.
The bailout was necessary to avoid setting the country back a 100 years economically.
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Bullfuckingshit. It seems you bought into the fear mongering of Wall Street.
But it must be coupled with a lot of new regulations on wall street and the banking industry or it's all for naught.
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Regulations won't help anything.
Financially, I don't think it will work out all that bad. A lot of the bail out loans have already been paid back with interest. I doubt the government will turn a profit on these loans, as some one get paid back as companies still fail. But the loss shouldn't be that great in the long run from what I've read so far.
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What happens with the expansion of trillions of new dollars? You don't seem to grasp the concept of creating new money out of thin air. It bring inflation. When you are creating trillions of new dollars, it tends to be a recipe for disaster. Plus, the money that you are talking about being paid back is TARP funds. That is a 700 billion dollar program. The U.S. government has pledged 23.7 trillion so far. They have spent about 12 trillion. We will probably never see most of the money from the other programs, as it really isn't even kept track of. Also, how much money was paid back so far?
The profits, collected from eight of the biggest banks that have fully repaid their obligations to the government, come to about $4 billion
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http://www.nytimes.com/2009/08/31/business/economy/31taxpayer.html?_r=1Wow. 4 billion. That's not much compared to 12 trillion.
The real key is whether they have the balls to put the needed regulations in place.
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That will do nothing.
 
Money pledged means nothing. Millions get pledged at telethons all the time and they actually receive a small percentage.

So what's your solution, fullmetal? Do nothing and just sit back with a Natty Ice?
 
[quote name='fullmetalfan720']Bullshit. [/QUOTE]

Yes, that's what your entire counter argument was since you are no economist but simply parroting what you want to believe because it fits your political beliefs and agenda.
 
[quote name='lawdood']Yes, that's what your entire counter argument was since you are no economist but simply parroting what you want to believe because it fits your political beliefs and agenda.[/QUOTE]
Okay then, prove to me that the economy would have collapsed if we didn't give 12 trillion in bailouts. Also please tell me what causes inflation. Also, please tell me what these bailouts did for America, and what an influx of trillions of new dollars will do to the value of the dollar.
[quote name='depascal22']Money pledged means nothing. Millions get pledged at telethons all the time and they actually receive a small percentage.[/quote]
Here's the problem. It seems like every 4 months or so the amount pledged doubles, and the amount spent end up being about half of the amount pledged. That ends up being a lot of money.
So what's your solution, fullmetal? Do nothing and just sit back with a Natty Ice?
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Yes do nothing. Let the money casinos fail. How is it that if you are a major compnay that gives hundreds of millions to politicians each election cycle gets billions back when they fuck up with their gambles? If I were to make as many bad gambles as these companies, I'm done. I don't get a bailout. However these companies do, because they are "too big to fail." How is this capitalism? Can you name anything that these bailouts did that helped America? Did this stop people from losing their homes? Do these banks still have toxic assets? Is unemployment down?
 
Why are you acting like any solution has to pay immediate dividends. You're the poster child of ADD. Let's give Obama a year at least before we start going ape shit over how bad things are. But that might allow things to get better. Problem is that the public will be so poisoned against him, it won't matter what unemployment is sitting at in January much less at the halfway point of his administration.

It's like you guys just couldn't wait to tear him apart no matter what he did and that's what has us so pissed. Bush got 8 years to completely fuck this country up but you won't even give Obama 1 before he gets painted as a radical extremist.

What kills me is that the right is still painting Obama as a weird socialist/fascist hybrid even though they come from completely opposite ends of the politcal spectrum. It's like you assholes couldn't wait to compare Obama to they tyrant of the month. Hiter, Stalin, Pol Pot? Obama is all of them combined and even worse because he supports ACORN, ya know? You know he wasn't even born in America? We should forcibly remove him from office, right? It's only a matter of time before one of these crazed morons takes a shot and then shit really hits the fan.
 
[quote name='depascal22']Why are you acting like any solution has to pay immediate dividends. [/QUOTE]
I thought that was the whole point of the bailout. Fix things in the short term. Too bad it didn't, and it has long-term consequences. Inflation doesn't happen as soon as you create money. It happens when it goes through the system. What has happened with the bailouts is, the money has been created out of thin air, and given to the too big to fail. This was basically done in secrecy, as the Federal Reserve will not talk about where the money went, or how much went where. Now, when that money is starting to flow into the system, we are starting to see inflation. If enough money is created, to cause countries to dump the dollar, we will see hyperinflation. We are already seeing countries like China, and Japan backing away from the dollar. This reckless creation of money devalues the dollar, which causes people to lose their savings, as the money loses value.
You're the poster child of ADD.
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No.
Let's give Obama a year at least before we start going ape shit over how bad things are.
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I think we've given him enough time to prove that he is nothing more than a liar, and basically the same as Bush.
But that might allow things to get better. Problem is that the public will be so poisoned against him, it won't matter what unemployment is sitting at in January much less at the halfway point of his administration.
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Things aren't getting better. The bailouts fixed none of the problems with the economy. Toxic assets still exist, but now they are called profits. People are still losing their homes, and their jobs. There are still bubbles waiting to burst.
It's like you guys just couldn't wait to tear him apart no matter what he did and that's what has us so pissed.
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Sure. Especially when I actually volunteered for his campaign. I saw enough in the first few months to prove that Obama is just the same as Bush. He continues the same policies, but calls it change.
Bush got 8 years to completely fuck this country up but you won't even give Obama 1 before he gets painted as a radical extremist.
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I would be careful when you say "you." Again, I don't need a year to see that Obama is the same as Bush. He's already continued enough major policies of Bush to prove they are basically the same.
What kills me is that the right is still painting Obama as a weird socialist/fascist hybrid even though they come from completely opposite ends of the politcal spectrum. It's like you assholes couldn't wait to compare Obama to they tyrant of the month.
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I was hopeful. I hoped that we would finally get a reprieve after 8 long years of Bush. I was wrong.
Hiter, Stalin, Pol Pot? Obama is all of them combined and even worse because he supports ACORN, ya know? You know he wasn't even born in America? We should forcibly remove him from office, right? It's only a matter of time before one of these crazed morons takes a shot and then shit really hits the fan.
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You go from right wing to birther to presidential assassin. Way to jump to conclusions.
 
You're being retarded if you think Obama could change the entire Washington culture in less than a year. It's obvious you have no understanding of anything that goes on in DC.

Obama could give up all the power but he'd be as powerless as the Reconstruction Presidents and you'd still be bitching that he didn't bring about change.
 
Remember when you were in kindergarten, and they did the little project where you put a seed in a cup of dirt and water it, and a few weeks later it turned into a plant?

Right now, we have barely got the seed in the soil, and yet people are bitching they can't have themselves a salad yet.
 
[quote name='depascal22']You're being retarded if you think Obama could change the entire Washington culture in less than a year. It's obvious you have no understanding of anything that goes on in DC.

Obama could give up all the power but he'd be as powerless as the Reconstruction Presidents and you'd still be bitching that he didn't bring about change.[/QUOTE]
He doesn't have to change the entire culture of Washington in less than he year. He could just be honest. Sure has been a long time since we had a honest president. He could actually keep his promises on the Patriot Act, the War on Terror, NAFTA, lobbyists, bailouts, missile shields, government transparency, the fact that the health care industry lobbyists are actually on Obama's side, ect.
 
[quote name='lawdood']Yes, that's what your entire counter argument was since you are no economist but simply parroting what you want to believe because it fits your political beliefs and agenda.[/QUOTE]

Not that anyone really cares but metal has been on my ignore list after the 13th or so time he posted a link he obviously hadn't read.
 
[quote name='fullmetalfan720']He doesn't have to change the entire culture of Washington in less than he year. He could just be honest. Sure has been a long time since we had a honest president. He could actually keep his promises on the Patriot Act, the War on Terror, NAFTA, lobbyists, bailouts, missile shields, government transparency, the fact that the health care industry lobbyists are actually on Obama's side, ect.[/QUOTE]

He was supposed to change all that in 8 months while dealing with Iraq, Afghanistan, a financial bailout that pretty much ended up in his lap, and an openly hostile right wing? Really?

He's been trying to get Republican support for these things but they keep saying "fuck off, Kenyan."

He's been trying to re work The War on Terror while the right says, "fuck off, pacifist."

He's been trying to reform health care while the right says, "fuck off, communist."

Bush had near unanimous support after 9/11. He was given carte blanche to do whatever he wanted in the name of National Security but Obama has run into nothing but roadblocks when he's really tried to improve our country instead of foreign lands. And now he's just a liar? Get real.
 
[quote name='fullmetalfan720']I thought that was the whole point of the bailout. Fix things in the short term. Too bad it didn't, and it has long-term consequences. Inflation doesn't happen as soon as you create money. It happens when it goes through the system. What has happened with the bailouts is, the money has been created out of thin air, and given to the too big to fail. This was basically done in secrecy, as the Federal Reserve will not talk about where the money went, or how much went where. Now, when that money is starting to flow into the system, we are starting to see inflation. If enough money is created, to cause countries to dump the dollar, we will see hyperinflation. We are already seeing countries like China, and Japan backing away from the dollar. This reckless creation of money devalues the dollar, which causes people to lose their savings, as the money loses value.
No.
I think we've given him enough time to prove that he is nothing more than a liar, and basically the same as Bush.
Things aren't getting better. The bailouts fixed none of the problems with the economy. Toxic assets still exist, but now they are called profits. People are still losing their homes, and their jobs. There are still bubbles waiting to burst.
Sure. Especially when I actually volunteered for his campaign. I saw enough in the first few months to prove that Obama is just the same as Bush. He continues the same policies, but calls it change.
I would be careful when you say "you." Again, I don't need a year to see that Obama is the same as Bush. He's already continued enough major policies of Bush to prove they are basically the same.
I was hopeful. I hoped that we would finally get a reprieve after 8 long years of Bush. I was wrong.
You go from right wing to birther to presidential assassin. Way to jump to conclusions.[/QUOTE]

You're a racist man.
 
[quote name='depascal22']He was supposed to change all that in 8 months while dealing with Iraq, Afghanistan, a financial bailout that pretty much ended up in his lap, and an openly hostile right wing? Really?

He's been trying to get Republican support for these things but they keep saying "fuck off, Kenyan."

He's been trying to re work The War on Terror while the right says, "fuck off, pacifist."

He's been trying to reform health care while the right says, "fuck off, communist."

Bush had near unanimous support after 9/11. He was given carte blanche to do whatever he wanted in the name of National Security but Obama has run into nothing but roadblocks when he's really tried to improve our country instead of foreign lands. And now he's just a liar? Get real.[/QUOTE]
Yes, he is a liar. He came out against the Patriot Act, and telecom immunity, and yet still voted for FISA. He said he would bring the troops home in 16 months, and then says 18 months. However, 50,000 will be staying until December of 2011. (23 Months) He said he wanted to renegotiate NAFTA. He now says he has no plans to reopen NAFTA. He said he wouldn't have lobbyists in his administration, and then filled his administration with them.

http://www.youtube.com/watch?v=2SlBlvirqA0
http://www.msnbc.msn.com/id/28563205/
http://www.usatoday.com/news/washington/2009-01-27-lobbyist_N.htm
http://a.abcnews.com/Blotter/story?id=6735898&page=1
http://www.pbs.org/wgbh/pages/frontline/shows/settlement/deal/people/mitchell.html
http://www.cnn.com/2009/POLITICS/01/22/obama.mitchell/index.html

He talks about government transparency, then continues Bush administration policy on "State Secrets." He continues the policy of rendition, torture, (in fact it has actually ramped up under Obama)http://www.campaignforliberty.com/blog.php?view=24171, hasn't repealed the worst Bush executive orders, and decries lobbyists supposedly working against his health care reform, when it turns out he's making deals with them.
I expect better from the guy promising change.
 
[quote name='depascal22']He volunteered for Obama so that can't possibly be true.[/QUOTE]
Wow, now you are implying I am racist. You're fucking ridiculous. I suppose that no one can think that Obama is a liar without being racist, right?
 
One observation I have had ever since Obama announced running:

The only time I ever hear (or even think about) Obama's race is almost always because one of his supporters bring it up.
 
[quote name='fullmetalfan720']. He said he would bring the troops home in 16 months, and then says 18 months. However, 50,000 will be staying until December of 2011. (23 Months) [/QUOTE]

You're really getting butthurt over a couple months? You don't think he got into office and figured out that it would do us more harm to just pull everyone out in haste? The troops are coming home in a reasonable time frame and that's what really matters.

I guess his promise to you is more important right? Do you believe it when a guy tells you he's gonna pull out too?

Oh, and if I thought you were a racist, I'd call you out. I'd say, "Fullmetal is a racist piece of shit." Did I say that? Nope.
 
[quote name='depascal22']You're really getting butthurt over a couple months? You don't think he got into office and figured out that it would do us more harm to just pull everyone out in haste? The troops are coming home in a reasonable time frame and that's what really matters.[/QUOTE]

Kinda like when Bush said we'd go in there, be welcomed with open arms and quickly leave...

When you get in the Big Boy's chair, you find out things aren't quite so easy, eh?
 
[quote name='UncleBob']Kinda like when Bush said we'd go in there, be welcomed with open arms and quickly leave...

When you get in the Big Boy's chair, you find out things aren't quite so easy, eh?[/QUOTE]

Big difference is that Bush was completely wrong. Obama is still going to pull out the troops just not at the time frame that would satisfy anyone but actual military commanders on the ground. Or would it be better to satisfy the base?
 
There were people who welcomed our troops with open arms... and we *are* leaving, just not in a time frame that satisfies everyone.

Fact is, Obama made promises he couldn't keep. Thought he knew more than he did about the situation. Surprise. Sure hope *that* doesn't happen again.
 
How could he know everything about the situation? Alot of the important information was classified and eyes only for the President, the Pentagon, and the Armed Services committee. Obama wasn't on the committee so he didn't get the full picture until he got into office. Using that information, he revised his numbers to reflect the reality of what was happening on the ground.

Why should he try to keep a promise when it would put our troops at a strategic and tactical disadvantage? Why should he trade the lives of our troops just to keep a promise?

This isn't a political game. It's war.
 
You're right. It isn't a political game.

It'd be nice if politicians wouldn't try to game the war in an effort to gain political power. Like make crazy statements that any reasonable person should know might not be a good idea without having all the facts.

Hell, Obama could have said "Yeah, I'll have all the troops home by Jan 24th. If the conditions are right." It's kinda like saying that you're going to provide health care to millions of people and not add a dime to the deficit.
 
But you're willing to oppose what ever he does because not every single word he says will be backed up? You'll sit there and pretend there isn't a problem because the President of the United States didn't give you a handjob first? Get over yourself.
 
I'm willing to oppose what he does because he's shown a pattern of lies and deceit, along with a continuation of Bush's policies. In 12/11, you'll probably still be making excuses as to why he hasn't pulled the troops out of Iraq.
 
[quote name='UncleBob']I'm willing to oppose what he does because he's shown a pattern of lies and deceit, along with a continuation of Bush's policies. In 12/11, you'll probably still be making excuses as to why he hasn't pulled the troops out of Iraq.[/QUOTE]

Nope, I'll let the commanders on the ground make the decision. If they decide it's not time, then it's not time and I'm glad that Obama is bright enough to realize that.
 
[quote name='depascal22']You're really getting butthurt over a couple months? You don't think he got into office and figured out that it would do us more harm to just pull everyone out in haste? The troops are coming home in a reasonable time frame and that's what really matters.[/QUOTE]
7 months is a large gap. I glad that that's the only thing you noticed in my post though.
I guess his promise to you is more important right? Do you believe it when a guy tells you he's gonna pull out too?
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Wow, you're so funny. Questioning everyone's sexuality and all. Great way to have a political debate.
 
Remember when Jesse Ventura was president and solved every crisis in four months?

Man, Obama. You're totally behind the curve.
 
[quote name='Strell']Remember when Jesse Ventura was president and solved every crisis in four months?

Man, Obama. You're totally behind the curve.[/QUOTE]

You don't read, do you? I don't expect him to solve all of the major crises in his first year. I expect him to not lie to everyone's face and call it change.
 
And then Ventura had to leave the White House because he locked himself out, and so we got a new president.

People stood around for dozens of minutes screaming out "Four more months," as he had promised he would teach us all how to fly under our own power.

Man, those were a great four months. I had steak everyday, my mailbox had money in it, and birds were shitting Skittles all over the place. Why can't we get Ventura back in the White House to be president for another four months? Just give him a new set of keys, damn.
 
[quote name='fullmetalfan720']You don't read, do you? I don't expect him to solve all of the major crises in his first year. I expect him to not lie to everyone's face and call it change.[/QUOTE]

I expect you to be grown up enough to realize that a President can't keep every promise he makes during a campaign. It doesn't make him a liar because he didn't get you a pony for your birthday even though he promised.

Obama has been ripped apart by conservatives for the last eight months so he's had to pick and choose what he does. Health care reform and the stimulus were more pressing issues than the FISA or the Patriot Act.

Again, you're getting butthurt because YOUR issues aren't being resolved while the President is busy doing real work. Slow your roll and he'll get to you when the grown folks are done talking.
 
[quote name='depascal22']I expect you to be grown up enough to realize that a President can't keep every promise he makes during a campaign. It doesn't make him a liar because he didn't get you a pony for your birthday even though he promised.[/quote]
How are some of the things I mentioned not lies? Just because you use a different phrase ("broken promise"), doesn't mean it isn't a lie. Also, is it really that hard to write an executive order? Obama could actually solve the torture problem in a matter of seconds. Instead he likes to pretend torture has gone away, when it hasn't. How hard is it to draft an executive order to get rid of the "state secrets" policy, or end rendition, or even repeal some of Bush's draconian executive orders? How hard is it to not add signing statements to bills? How hard is it to actually tell the truth, that you are making deals with health care lobbyists, and that they aren't really working against you?
Obama has been ripped apart by conservatives for the last eight months so he's had to pick and choose what he does. Health care reform and the stimulus were more pressing issues than the FISA or the Patriot Act.
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If Obama can't stand up and fight for the causes that people elected him for, why would he run for president?
Again, you're getting butthurt because YOUR issues aren't being resolved while the President is busy doing real work. Slow your roll and he'll get to you when the grown folks are done talking.
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My issues. Yeah, well guess what? He's lied (or "broken his promise" as you like to call it) on almost every single issue.
 
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