The ECB and Greenspan helped cause this global financial crisis by inducing millions into cheap adjustable rate loans from 2001-2004 - (this inflated the real estate bubble), and then by steadily even INCESSANTLY raising rates from 2004-2007 our fear of inflation.
On top of the steady rate increases, consumers had to absorb HUGE energy cost increases because of the Oil Bubble. These two cost increases - the cost of money (because of Greenspan and the ECB) and the huge increase in the cost of energy (because of OPEC and speculators) - KILLED the global economy.
Banks and the debtors should bear the brunt of the losses which have resulted from the bubble's collapse - and NOT third parties (via taxes and bailouts).
It is fundamentally unfair for the losses to be "socialized" when the profits weren't going to be.
If Obama meant what he repeatedly says about "a new era of responsibility", then he would demand that the banks and debtors be responsible for their own problems and not come running the Uncle Sam.
But Obama did not mean it. Obama is a lying, two-faced hypocritical left-wing piece of crap who wants to turn America into East Germany.
[ASIDE: Most of the left are atheistic hardliners who believe deeply in Darwin and evolution - which come down to, after all: THE SURVIVAL OF THE FITTEST.
Isn't it interesting how they don't want that applied to the economic realm? NO NO NO: they want the weakest to survive - THAT IS AS LONG AS THEY DON'T HAVE TO PICK UP THE TAB!
LEFTISTS: They're hypocritical scum.]