Do not confuse "fan" with "who should be President."
I do not even consider myself a Morrissey "fan" I simply enjoy his music. There are some that are "living it" - "Spock ears and all."
Both Obama and McCain supported the bail out crap. Guess what the bail out just brought my city? Bail out money was denied to National City Bank - the largest bank in Cleveland, and a huge part of our city since the mid-1800s! Instead, bail-out money was given to PNC Financial Services - who didn't need it - and they were told to acquire National City with that taxpayer money in a takeover. Which means thousands of jobs will now be lost in Cleveland, and we'll lose National City which was headquartered here and is one of the biggest donors to local charities.
Tax dollars from the government to PNC, PNC told to use those tax dollar funds to purchase National City (which they wouldn't otherwise have been able to), and my city f***ed.
I ask: Why not have let the market work this out? Maybe National City would've been acquired by PNC without government intervention down the line. But the government interveners decided to deny National City bail out money, give tax payer money to PNC, and order them to acquire National City with that money. To support that is to assume that the government will not make mistakes when deciding what banks should acquire what banks as they push for regional banks to be consolidated (which will also mean less competition, which will mean a worse deal for bank customers). Very dangerous stuff. I thought the bail out was to rescue struggling banks, not strengthen the strong ones. I thought TARP stood for "Troubled Asset Recovery Program", not, here some's dough from the tax payers to scoop up your competitors.
Banks like National City, of course, were encouraged by Democrats to make high-risk loans. It's what Barney Frank wanted!
Now the government has intervened to give tax dollars to PNC Financial Services to acquire National City -- Cleveland loses yet another Fortune 500, and thousands more jobs, thanks to the Democrats and Republicans and their misuse of U.S. tax dollars.
Well, whatever.
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