r/inthenews • u/Quirkie • 2d ago

Obama Breaks Silence on Trump’s ‘Unimaginable’ Presidency - “Imagine if I had done any of this,” the former two-term president said.

https://www.thedailybeast.com/obama-breaks-silence-on-trumps-unimaginable-presidency/
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u/CuTe_M0nitor 1d ago edited 1d ago

"Too big to fail"- Obama. He said if we don't hand out unmarked money to the Banks on Monday the world market would crash. They were creating and selling housing loans to every market and marking them as an AAA investmen. It obligated 10years of economic progress.

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u/bozodoozy 1d ago

and if he hadn't? if he had allowed those banks to fail? what was the worst possible consequence, and how would that have affected economic progress?

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u/CuTe_M0nitor 1d ago

You don't have incentives for incompetency, that's not capitalism. Other smaller banks who weren't in on the scam 😡 thus making them the competent ones, would have taken their place. Instead Obama saved them and kept them alive. We had stagflation over the past 10years after that. Negative interest rate even

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u/bozodoozy 1d ago

bless your heart.