Obama spanks Wall Street.

[tw]

Originally Posted by sugarpop

Well said. And I think they should get rid of all the tax cuts (except the ones they originally actually wanted) and put the spending money back in that republicans demanded they take out, and force them to fillibuster or just pass it without any republicans. Call their bluff.

Long before we can do that, first, we must decide what is necessary to _fix_ the economy. Many still advocate throwing money at the economy to fix it. Same nonsense was from extremist liberals and conservative alike. Ironically, the same Republicans who openly advocated this concept under George Jr are now screaming about TARP costs while advocating what we know never works long term - tax cuts without spending cuts.

Long before anyone can decide how to respond, we as a people must first define a difference between throwing money at a problem (ie money given without strings to bad banks) verses investing in long term projects that actually have an ROI. Every project by government or private industry has a Return on Investment for society. A concept that many still do not understand as we advocated nonsense such as the privatization of Social Security - only because it was promoted by a political agenda.

Whereas infrastructure investments were long needed and should have an ROI, still, many want that to restore the economy this year. If yes, then it is not economic stimulus - only welfare. Typically solutions mean projects today fix the economy in four years. Meanwhile, bankruptcy, job loses and income reductions are necessary especially in economic areas most unproductive and harmful - ie Wall Street, Detroit, hedge funds, and anywhere that top management foolishly said the purpose of a company is to make a profit; ignored what only matters - the product.

A philosophy if we really want to fix this economy? The product is everything.