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by mcrad 1299 days ago
I mean ludicrous that since 2009 it's Democratic thinking to bail out the banks, sweep inflation concerns under the rug, spend more money, funding unprofitable tech companies etc. I never said Republicans aren't in on the deal, just that it's obvious one side leading the charge on those things.
2 comments
Rekksu 1299 days ago
Ignoring the factual errors in your post, it's really not addressing the point on cryptocurrencies.
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mcrad 1299 days ago
It's an opinion about democratic thinking, and a general assessment in correlating level of education in finance/econ to party bases. I have no idea what "facts" you are referring to. Just wow.
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Rekksu 1299 days ago
The bank bailout was 2008, proposed and lobbied for by the Bush administration. It passed the House with support from 45% of Republicans and the Senate with support from 69% of Republicans. Generally considered bipartisan, it almost certainly saved the financial industry. It's not clear what you mean by "a general assessment in correlating level of education in finance/econ to party bases".

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

https://clerk.house.gov/evs/2008/roll681.xml

https://www.govtrack.us/congress/votes/110-2008/s213

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mcrad 1299 days ago
Yep, and so began the golden age of fraud we now experience, and the backdrop for this SBF story. 100% agree that the bailout was bi-partisan and necessary though.
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hn_throwaway_99 1299 days ago
> I mean ludicrous that since 2009 it's Democratic thinking to bail out the banks, sweep inflation concerns under the rug,

Again, more ludicrous tribalism. The Great Recession bailout was all orchestrated under Bush. Trump famously was hounding Powell to lower rates before the pandemic, which would have had even more disastrous inflation consequences, just to make the stock market go up.

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mcrad 1299 days ago
I think your mistake is to look at bought-and-paid-for politicians, I'm talking about the general public. My guess is you don't know many republican voters and therefore unqualified to to make the comparison. Most democrats I know think the bailout "paid for itself" lol
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