Barack The Savior?

How funny, little Hirshyboy! Uh, duh, the Great Depession did not end until World War Two. FDR resided over political "resurrection? all through the 30's.! Osama and newsweak must take History 101.

We are looking at the true definition of capitalism and it is a train wreck. I said this back in the 80s. I said this in the 90s. I didn't think it was going to come to this so soon, not even in my lifetime. Greed is not good folks. If we had "saints" running companies we wouldn't have to worry but we don't and never will. Human nature is such that if you give a person carte blanche to make money that person, due to a combination of competition and his/her own nature will eventually fall into the situation these bankers fell into. I worked on wall street. Shortly before 9/11 a female executive made a speech at a conference. She said "Finally government has deregulated and is letting business people do what business people do." I cringed when I heard that. There are decent common sense business people but you won't find them going into the world of high end finance. You'll find them in your neighborhoods because they interact with their customers. They are the salt of the earth. Not the ones coming out of Wharton and Harvard with neoconistic ideas about how they can gain wealth enough to retire at age 40.

Socialism does not equal capitalism. Of course Obama can't take care of capitalism; he has no idea of it's true definition. Obama, whether he has good intentions or bad intentions, is basically calling for a socialist society. In its basic definition, socialism makes sense and that's where inexperience comes in to play. Obama is inexperienced on basically everything but in particular, the economy. He sees socialism as an easy solution; everybody basically end up with the same money by taking from those making more and giving it to those making little to nothing. It sounds good, you make 40 or 50 grand a year but it takes away from the ability to make anything more. People lose their drives to create more wealth because it just goes to deadbeats. I have a dream that Obama will pull his head out of his rear and really make a good economic plan but with no experience, it would be shear luck.

Well of course the autos, or anyone for that matter would want some fed money if it keeps them from going out of business. The point of this package was mainly to free up credit. it was completely frozen and when credit is frozen, nothing works. This article says that what has been done so far has not worked so far, which is completely false. Credit is starting to free up again and providing the banks with capital by PURCHASING equity in them it will eventually help lending start again. The media and our public want things right now and don't realize that this mess is going to have a lasting impact for years. Deciding to change course and not purchase troubled mortgages is an absolute must. The foucs needs to be on the financial system and keeping credit flowing smoothly, otherwise nothing will work. What people don't realize is that the tax payer money being used can increase in value and returned to the tax payer. The media and the democratic congress have purposely focused attention on ceo salaries and wall street greed and blinded the public to what is important, which don't get me wrong needs to be addressed, but right now is irrelevant. THe next thing they need to do is be transparent and create an exit strategy from their equity purchased in the system over time.

DO YOUR HISTORY DING DONG, SOCIALISM DOSE NOT WORK.
You Obama lovers are humorous, you fall head over heels for someone simply because they can speak well and they say HOPE and CHANGE over and over again. Never mind all the other FACTS about him that you choose to ignore, I won't bother listing them because you've already ignored them for months now.

The article is written as if the US were the only country in the world. Does it occur to anyone that, for instance, auto companies are not asking governments for assistance, workers are not being laid off, people are not being left without health insurance, people are not losing their homes or pensions in OTHER countries of the world? Why? Because the whole world saw this coming except for the people in the US, who were content to drink the KoolAid and ride the tiger. Clearly, American arrogance and hubris are even today going strong in a country where nothing is going right. Capitalism will be just fine, but not the kind that America has shown for the last two decades, that is for sure. Greed, gluttony, pride, avarice, wrath, sloth, lust.. which does not apply to American business these days? Stay Classy USA!

Well,at least we know where Hirshs religious tendancies lay. The remainder of his screed will develop into typical liberal media moonshine,if his party remains so joined at the hip with their union masters[tell us how unions are doing these days in Europe Hirsh], that they are willing to blithely bail them out with no,and I mean zero oversight with our money in order to continue crafting [if I can use such a generous word],an inferior product.
Then theres the problem with all of these Clintonistas running around. Obama has found his tag-team in Mssrs.Rubin and Lynch,the very destroyers of GLASS-STEAGALL,that very un-Keynseian of New Deal reforms. Worse,he has former FANNIE MAE fatcats running his transition show and in an outrageous move,has Made-Mega-Rich -By-Running -FANNIE-Into -The -Ground Jamie Gorelick on the short list as new AG.
You need to get jiggy with it Hirsh. Religious intonations will do absolutely nothing to restore Americas[and the worlds],confidence in our markets. Thus far,Democrat congressional overreach and cronyism appear to be ruling the economic hour in Washington.

Wherever you are, whatever you're doing, stop, and panic.

We are going from a "C" student to a "A" student. Bush got EVERYTHING wrong from deregulation of Wall Street to the war in Iraq. I say give Obama a chance: he's smarter and not a republican. LOL.

It's time to panic.

"In October 1937, the stock market crashed again- almost as drastically as in October 1929. The reason? In 1936, Social Security taxes were withheld from paychecks for the first time. Consumer spending dropped because people had less of their own money, the economy shrank, and unemployment shot up to 22 percent. Social Security was social (or socialism), but there was little security, because the money skimmed off people's paychecks didn't reenter the economy until January 31, 1940, when the first Social Security check was issued. A woman named Ms. Fuller, who had only been in the system 2 years and paid in a total of $22, was the first recipient. Ms. Fuller lived to be 100 and collected over $22,000 in Social Security." ~ Stupid History, Leland Gregory.

WWII ended the depression, not FDR's socialization of America. Social Security is a pyramid scheme. We are much worse off for not encouraging people to plan for their own retirement rather than depend on the government.

"Those who cannot remember the past, are condemned to repeat it,"

You can???t get better by drinking more poison (Obama & CO. caused the ailment in the first place)! Capitalism isn???t broken; merely ailing because the liberal democrats (legislation improperly influenced by ACORN...et al) forced banks to loan to otherwise too risky of borrowers without regard to what would eventually happen; an economic downturn. Shame on Newsweek for hyping the jerk to be president once again. Somebody tell Newsweek the campaign is over and perhaps they could at least appear to attempt to be journalists.

You can???t get better by drinking more poison (Obama & CO. caused the ailment in the first place)! Capitalism isn???t broken; merely ailing because the liberal democrats (legislation improperly influenced by ACORN...et al) forced banks to loan to otherwise too risky of borrowers without regard to what would eventually happen; an economic downturn. Shame on Newsweek for hyping the jerk to be president once again. Somebody tell Newsweek the campaign is over and perhaps they could at least appear to attempt to be journalists.

ahhhh I see a lot of those who seem to have an opinion that it isnt broken... let just keep going the way we were.... wow... how very shrewd.... maybe you would be different if YOU were actually in a vehicle going over a cliff... then maybe you might want some help getting it to stop..... or you could always tell yourself... maybe the cliff isnt that deep.. maybe its just a ditch.... sure it looks like the grand canyon.. but.... maybe....

Oh for heaven's sake... Obama saving capitalism? As my kids would say, is it opposite day?

What a moron. BO our saviour !

Without the bail-out, healthy businesses would have scooped up poorly run businesses to a much larger extent that we have seen.

The stock holders in those failing companies would have got what they deserve for voting such a uselss board to run the company, the failing business would have got what they deserve for making such risky investments, and those of us in the general population that manage our income, live a moderate life style, and don't buy McMansions on over extended loans would not be in a situation where we are bailing out the stupid and the corrupt.

Unfortunately for me and anyone like me that did manage their life style, I'm now told by BO (your saviour and most definitely not mine) that if you do make over 200K, then I get the privelege of paying taxes to cover their sorry ***.

You continue to worship at the alter of BO. I on the other hand will be putting my energy in the temple of "Off Shore Money".

BO is not a saviour, and our economy is not in danger of dissolution moron.

This would have sorted itself out whether the fed bailed out these corrupt banks, or not.

I don't frequent useless rags like Newsweek, and now I can see why.

Please get a brain !