Joe Biden had an awful memory lapse that he can’t escape.
His own words convicted him.
Joe Biden made a huge admission about this criminal case.
It’s common knowledge at this point that Joe Biden’s memory is failing him at times.
He’s had trouble coming up with Obama’s name so it’s no surprise that Biden is having trouble remembering his voting record.
This is causing him a huge headache because he wished that government officials were in charge of the 2008 bailout.
The bailouts of the Great Recession were not only bad because executives didn’t have to pay the full price for their mismanagement, but also because unions got Democrat politicians to make taxpayers foot the bill so they didn’t have to make normal bankruptcy concessions.
When the federal government bails out businesses when they are in danger of failing, it encourages risky behavior that is bad for everyone.
If Obama and Biden hadn’t come along to save the American auto industry, it would have survived, and the unions would have lost money.
The American government should only step in to save the economy when it’s an absolute emergency and even then, it must be done carefully.
Biden knows that the government messed up in 2008, he just forgot that he was one of the people that messed up big time.
According to Breitbart News:
Former Vice President Joe Biden complained Sunday that no one went to jail for the 2008 financial crisis, despite being in office when those officials could have been prosecuted.
“I agree with Bernie [Sanders], someone should have gone to jail. That was the big disagreement I had in terms of bailing out,” Joe Biden complained during the CNN Democrat debate on Sunday night.
Biden was the vice president under President Barack Obama, taking office just months after the Wall Street bailout occurred and was in office for eight years.
Biden voted for the bailout, while Sen. Sanders did not.
The former vice president defended the 2008 bailout, noting that if the United States government did not act quickly, the economy would have slipped into a depression.
“Look, the fact of the matter is that if, in fact, the banks had all gone under, we would be in a great depression,” he said.
Keeping the banks from failing may have been a net positive but most of Obama’s stimulus spending was just a trillion dollar waste of money.
Of course, Bernie Sanders’ problem is that the government doesn’t have enough control over industries.
The problem is that when the government makes economic mistakes, it isn’t government officials that suffer, it’s taxpayers.
The only way for the government to make sure that the executives who make mistakes pay for them is by staying out of the economy.
If the government does get involved, it should be the taxpayers that they’re looking after.
Joe Biden can see how dumb his response was in hindsight but if he was elected president, he would try the same failed tactic again.
The American people are too smart to want the failed Obama policies back.