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I think Simon, that your chosen title may be more right than even you may realize!



No matter which administration would have been in power over the past two years, the result would have been the same. It's not a democrat thing, nor would it have been a republican thing had that party been holding executive power.



What citizens see as the one-time solution, is merely a down-payment - a dry-run for the next round of financial bailouts for financial institutions, which, according to your calculation is one-tenth, or even less, of what is actually needed to solve the numbers problem.



I fully expect to see bailout after bailout about every two years, or so, until the numbers return to a stable condition.



It's no secret that it is up to government to set legislation, regulation and oversight of the financial sector.



If the government have let standards slide to a certain state of affairs since the 1990's, to now prosecute the individual banks and bankers who merely function under the regulatory controls set and enforced by the government - would seem counter-productive.



Counter-productive, because those bankers would be only too happy to hold forth in a packed courtroom about the lax regulatory environment they found themselves operating in.



Rather than air all that in public, the government (any government in power, whether it would have been democrat or republican) just decided to make the problem disappear - using the government two-year installment plan.



As long as things are kept to a dull roar, the banks will get the money to balance their books, nobody needs to go to jail and the government doesn't need to be embarrassed in the media.



In the end, all that has really occurred is that the government has acted as the insurer of last resort to the financial institutions that the government were supposed to oversee, but for unknown reasons were unable.



The Obama administration is merely addressing a problem which evolved into a major event over a time-span of two or three decades.



If citizens feel they need someone or something to blame, they should at least be told what it is and was, a systemic failure.









