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Economy
Obama (2010): Proclaims 'There will be no more Tax Funded Bailouts'
2023-03-14
[ObamaWhiteHouseArchive]...And finally, because of this law, the American people will never again be asked to foot the bill for Wall Street’s mistakes. (Applause.)

There will be no more tax-funded bailouts -- period. (Applause.)

If a large financial institution should ever fail, this reform gives us the ability to wind it down without endangering the broader economy. And there will be new rules to make clear that no firm is somehow protected because it is "too big to fail," so we don’t have another AIG.
Posted by:lord garth

#8  Obama was never fond of the truth. I understand some Chinese had money in SVB. This would mean the American taxpayer would be bailing out the Chinese according to Senator Vance on the Senate Banking Committee.
Posted by: JohnQC   2023-03-14 17:04  

#7  They consider your money their money, so you are giving what belongs to them. It isn't a tax.
Posted by: DarthVader   2023-03-14 14:12  

#6  "Let me, uh, be, uh perfectly clear, uh..."
Posted by: M. Murcek   2023-03-14 12:20  

#5  Oooh, 'Bamy lied about something. Next!
Posted by: ed in texas   2023-03-14 10:40  

#4  Technically this is not a taxpayer-funded bailout but an inflation funded one, so even non-taxpayers get to pay.
Posted by: Glenmore    2023-03-14 10:10  

#3  Since many of us wonder if Obama's people are actually running the WH Coup.

I guess the question now is: Will they also follow his promises, or dump it on Biden to better clear the way for his wife to run for the WH in 2024 or replace Harris?
Posted by: NN2N1   2023-03-14 07:11  

#2  There were private sector buyers, Musk and others, waiting in the wings ready to step in, but they were the WRONG type of buyers.

More difficult for the Gov't to exercise control over private institutions. Not impossible, but more difficult. Yes, gov't 'control' is the issue. BTW, "never let a good crisis go to waste."

The Deep State has no use for people like Musk. Yes, a blinding flash of the obvious.
Posted by: Besoeker   2023-03-14 06:46  

#1  Unless the bailout helps some of his woke coreligionists, or major donors to the DNC.
Posted by: no mo uro   2023-03-14 06:34  

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