Anonymous
Anonymous asked in Politics & GovernmentPolitics · 1 decade ago

If Obama is Socialist, why did he prop up the private banks instead of taking them over?

How in the world do you square him being a socialist, and the fact that he TURNED DOWN AN OPPORTUNITY TO TAKE OVER MOST US BANKS? It would have been perfectly legal to take them over considering the trouble they were in.

Update:

No, I mean by wiping out the shareholders and having the government directly run the banks genius.

Update 2:

Another genius thinks that the government took over citigroup and runs it now. Nice.

14 Answers

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  • Anonymous
    1 decade ago
    Favorite Answer

    Cons don't know how to use a "dictionary"

    Source(s): (a what ? 8-) say what?
  • Anonymous
    1 decade ago

    Well lets see he had the CEO of bank America canned He tells them the amount of money they can pay staff even were to hold their meetings So you tell me Many banks did not even want government money but were told to take it They even had a hard time returning I think your the same guy who posted ''china owns us'' But now your telling us He does not own the banks

    Why do I think your next post will be ''Mr Obama had no connection with Acorn''

  • 1 decade ago

    Obama is somewhere between a fascist and a socialist/communist. Since fascism and socialism are just a shade different, it's easy for one person to combine traits of both political schools of thought.

    Essentially, that's what progressive liberalism is: a mix of fascism and socialism.

  • Were you braindead or only sleeping when everyone was screaming "DO NOT nationalize our banks!!!!! No nationalization of US banks!!!" Obama didn't do it because he couldn't. There was absolutely NO support for nationalization -- even though he DID float that balloon to very negative results.

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  • Tico
    Lv 4
    1 decade ago

    He propped them up just long enough to pass the $$$ on to the elite.

    Source(s): Common sense
  • 1 decade ago

    dude. what cave did you come from?

    Citigroup. GM. Fannie. Freddie....

    Genius? They own two thirds of it peckerhead.

  • Anonymous
    1 decade ago

    I heard that we were very close to not being able to use the ATM. I think he did something quickly to stop a disaster. I don't believe he is a socialist.

  • Anonymous
    1 decade ago

    If he is for the working man, how do you defend him propping up the fat cats?

  • 1 decade ago

    You mean by taking controlling shares of stock in them....OH WAIT..... HE DID THAT

  • Anonymous
    1 decade ago

    he did ! also gm and chrysler and now trying for health care. wake up !

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