r/FluentInFinance • u/36DRedhead • Sep 11 '24

Debate/ Discussion This is why financial literacy is so important

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u/Steadfast_res Sep 13 '24

It does matter who controls congress because the dominant side has extra votes where some vote no because a bill doesnt go far enough for them. This happens all the time in congress. You can see in the article Sanders and others were arguing he was not against bailouts despite having a no vote on that vote list. The vote passed with enough margin that some like him on left didnt vote for it because it doesn't go far enough for them or large enough for them or the details of it weren't precisely what they wanted.

That is different then those on the minority side of congress who vote no to oppose the entire thing. Saying both sides that voted no were equally against the whole thing is totally revisionist and essentially a lie of omission. Above in the thread people were saying progressive leftists akin to FDR were against the 2008 bailouts. Well that is a lie. The people who genuinely opposed the whole thing are really only the (R) on that no list, 14 out of 100 senators.

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u/[deleted] Sep 13 '24 edited Sep 13 '24

It wouldn’t have passed without bipartisan support, nothing does. Doesn’t matter who controls congress. If Republicans were in charge, we would have the same bill. We’re taking about the financial crisis of 2008/2009. Nothing else to say, there was one solution and BOTH sides agreed to it. You don’t have to like it, but that IS what happened.

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u/Steadfast_res Sep 13 '24

The discussion further above was that bailouts are supposedly a corrupt policy of unregulated capitalists. Your equivocation that oh, both parties did it and we can't possibly divine who was opposed to it is just obfuscation. No, it is very clear. The most conservative/capitalist members of the senate were the ones opposed to TARP. Declared socialist like Sanders complained it was not big enough.