...as Michael Medved - a GOP cheerleader to be sure, but one who does his best to persuade conservatives against being taken in by conspiracy theories - points out, if Obama really wanted to do this, he passed up his best opportunity in September 2008
If Barack Obama yearned for a financial catastrophe he could have gotten his wish with ease and with no risk of blame had he responded differently to the Wall Street crisis of the Fall of 2008. My long-time producer, Jeremy Steiner (The Pride of Hillsdale College) makes the brilliant point that the definitive answer to claims of Obamas bad intentions centers on his behavior when faced with the banking meltdown 18 months ago. With most of the major financial players (particularly AIG) on the point of bankruptcy, and President Bush struggling mightily to win Congressional approval for his $700 billion TARP bailout package, candidate Obama provided decisive support. Had he taken the opposite position raising his voice as the Democratic presidential nominee to block the federal rescue of the banking system theres no chance The Troubled Asset Relief Program could have won approval in the House. The rescue package remained deeply unpopular in the nation at large, and the majority of House Republicans voted against it twice. Only overwhelming Democratic support (Pelosi and her colleagues backed the plan, 172 to 63) insured its passage and, as the widely admired Presidential nominee of his party, Senator Obama easily could have shifted that support and doomed the bailout.
In other words, those who believe that Obama intends to wreck capitalism must somehow explain the inconvenient fact that he passed up a golden opportunity to do just that two months before his election.
But conspiracy theorists, and those gullible enough to buy into them will never consider this.