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nObama Real Estate DOOM!! Why no Resolution Trust Corp? Difference between a Liberal and Conservative? PIN THIS!!!

 
IJumpInIt
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06/02/2011 11:50 AM
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nObama Real Estate DOOM!! Why no Resolution Trust Corp? Difference between a Liberal and Conservative? PIN THIS!!!
Lets see if we can get some true conversation going on here as to WHY nObama has not pursued the proven results of the RTC - Resolution Trust Corporation - created in 1989 to clean up the overblown Savings and Loan mess.

So with the 2008 meltdown started due to the banks going down the same route as in the late-80's, why has nObama not taken this course to stabalize the housing sector?

Personally I think this shows a clear difference between Liberal and Conservative thinking, but want your thoughts on it too. When the task is too far gone for the companies to clean up we the people require our Government to step in, as it did in 1989. RTC only lasted a few years too.

Anyone care to chime in on this? Not enough doom going on today? If the MODS pinned a debunker of zero point energy then why not this?


Link to a NY Times history of the RTC - [link to topics.nytimes.com]
IJumpInIt (OP)

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06/02/2011 11:56 AM
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Re: nObama Real Estate DOOM!! Why no Resolution Trust Corp? Difference between a Liberal and Conservative? PIN THIS!!!
Guess not doomy enough
Anonymous Coward
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06/02/2011 11:58 AM
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Re: nObama Real Estate DOOM!! Why no Resolution Trust Corp? Difference between a Liberal and Conservative? PIN THIS!!!
Mostly because Bush II and the Federal Reserve decided to do TARP and quantitive easing instead. This was the neoconservative approach, which was renewed by Obama.

And many people, including Bush I, believed the banks should go into receivership, as during the Savings and Loan Crisis, but the banksters got what they wanted instead.
Anonymous Coward
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06/02/2011 11:58 AM
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Re: nObama Real Estate DOOM!! Why no Resolution Trust Corp? Difference between a Liberal and Conservative? PIN THIS!!!
Sorry, that's quantitative easing...
IJumpInIt (OP)

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06/02/2011 12:12 PM
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Re: nObama Real Estate DOOM!! Why no Resolution Trust Corp? Difference between a Liberal and Conservative? PIN THIS!!!
Mostly because Bush II and the Federal Reserve decided to do TARP and quantitive easing instead. This was the neoconservative approach, which was renewed by Obama.

And many people, including Bush I, believed the banks should go into receivership, as during the Savings and Loan Crisis, but the banksters got what they wanted instead.
 Quoting: Anonymous Coward 1238594


Good input! Ok so here is a question - do you think the repeal of the Glass-Steagall Act in 1998 (under Clinton no-less) is what led to the different approach?

For those who do not recall, Glass-Steagall was the law which kept Commercial (your checking and savings account) and Investment banks (Goldman Sachs, Bear Sterns etc) from becoming one big bank and using your savings deposits as collateral for Wall Street bets, gambling, loans etc.

Looks like nObama is thinking about reinstating it and good lord lets hope so. No more 'Too big to fail' crap.

[link to dealbook.nytimes.com]
IJumpInIt (OP)

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06/02/2011 01:18 PM
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Re: nObama Real Estate DOOM!! Why no Resolution Trust Corp? Difference between a Liberal and Conservative? PIN THIS!!!
Doom on GLP !!

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