Another big boost for the American banking sector, those bankers must be laughing, but they are not the only one’s. The bankers are now the aristocrats, the government will do anything for them. Protect your elite not the people, that is the age old problem, the people do not have access to the throne, the aristocrats do, that is part of life and expected. Again I repeat, there is no such thing as democracy, democracy goes hand in hand with the free market. That means those mid sized banks that where managed properly by using talent rather than connections are being punished.
But there is another side, the Chinese are also shaking hands congratulating themselves, as are the Indians, Russians, because the Americans have given them the most important commodity, time. Whilst true America will remain a leader in innovation for some time, it is not streets ahead as it was in the 50’s and 60’s, but still ahead, by pouring money into inefficient banks rather than something constructive, the other powers are gleeful, and happy. So for ideologists, Bush and Obama handed the other powers a chance, is that bad. Not necessarily, a more balanced world would be good, thank Bush for the trillion to the banks, and Obama for his trillion, plus this new one where he says sorry banks for making bad investments, now be good little boys next time here is half a trillion, see you at the elitist clubs and we will move on from there.
Are what George Bush did and what Obama is doing bad things, that depends on who you are, for some its great for others its bad, rest assured no body after this is more moral than anybody, the elite everywhere have more power and government will jump in to help them, forget the nonsense of democracy, wake up, this is reality.