Instead of doing what actual capitalism demands, and letting corrupt, insolvent entities fail, Obama instead ignored the advice of top economists and bailed out big banks to the huge detriment of the economy at large and everyone but the 1%. This was no a mistake. This was not a tragic oversight. It was quite deliberate. Obama is Bought and Paid For. The economic team he hired to fix the mess was precisely the people who created it. Again, this was quite deliberate.
The government chose the big banks over the little guy, dooming both.
The administration – under the false banner of “homeowner relief” – simply threw money at the big banks to “foam the runway” so they wouldn’t suffer a crash landing.
Instead, the bondholders need to take it in the shorts, diseased entities like most of the big banks must be allowed to fail (and the criminals in charge of them jailed.) This is the only way to revive the economy.
Oh gosh, am I being too harsh by calling them criminals? I think not.
Drug money saved banks in global crisis, claims UN advisor.