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Comment by amackera | Hacker News Reader

Still waiting for the string of articles about the superyachts that all the bank executives bought after the 2009 bailouts.

/sarcasm

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I still don't get why the democratic Obama government didn't handle that the way Sweden handled a similar situation in the 90s:

1. Nationalize the bankrupt banks.

2. Get them in order.

3. Sell them and collect the profits.

https://en.wikipedia.org/wiki/Sweden_financial_crisis_1990%E...

I mean, it couldn't be that Obama and/or the democratic party was corrupt and just gave away tax payer money for no reason?

Edit: It was Bush 2 who gave away the money. The then (democratic) presidential candidate Obama supported it, though: https://web.archive.org/web/20080925154355/https://www.foxbu...

> The Emergency Economic Stabilization Act of 2008, often called the "bank bailout of 2008", was proposed by Treasury Secretary Henry Paulson, passed by the 110th United States Congress, and signed into law by President George W. Bush.

https://en.wikipedia.org/wiki/Emergency_Economic_Stabilizati...

The bailouts to the banks were by Bush 2.

Bloody time-travelling Obama, disguising himself as Dubya to bail out banks.

> Supporters of the plan included presidential candidates Barack Obama, ...

I'm sure the fact that Obama supported bipartisan legislation is why you blamed the result on "democrat Obama administration" when there was no Obama administration at the time, you made no mention of W, and mentioned only democrats.

I don't think that would have passed congress; the political reality in the US is different than Sweden.

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