Toxic Assets Haven’t Been Dealt With Update: Dick Morris Agrees
Remember all the toxic assets that brought our financial system to its knees? Well they still haven’t been dealt with. We cannot have a true economic recovery until these toxic assets are removed from the books. Obama promised his whiz Timothy Geithner would have a plan within weeks of his inauguration. It really makes you wonder if Obama wants the economy to recover at all or if he is just this economically illiterate. We all know Obama is brilliant at least this is what the main stream media keeps saying. I guess he wants to bring the economy to its knees, so he can enact a complete government takeover of the private sector. Remember Fannie Mae and the Community Reinvestment Act? These haven’t been dealt with either. Obama’s TARP plan is meant to fail so that the government can takeover the banks just like it took over GM.
The below video explains how devastating nationalizing the banks would be to our capitalist system. The stock market would crash and devastate the economy. An expert explains what happened in Latin America and how nationalizing the banks severely harmed the economy.
