The problem is: here we are.
If we don’t do some kind of intervention-—a big one and fast-—the world is going to see a whole more financial hurting going on, and it’s a lot easier (though still painful) to apply the nasty medicine at the beginning of the disease rather than after it has become full-blown.
Central banks are designed for situations such as these to serve as lenders of last resort. While termed a “bail-out,” the central banks do try to recoup as much of the money as possible by various ways of selling the bad paper over time and so on.
A reactionary response to this crisis is absurdly irresponsible.
Simple question -- why is it that the very mention of preventing unqualified people from getting home loans sends the Congresscritters scampering like rats. Shouldn't this be line one of any legislation that addresses this, as a fix or other wise?
I think Newt has the answer nailed. Zero capital gains tax, drill baby drill, and dump Sarnaes-Oxley, the IPO killer. After that, just sit and watch capitalism fix the problem and them hang on ... Forgot, no more unqualified borrowers.
Oh yeah, can we get the Democrat creeps who did this to resign???
Yea Kentucky!
We need to let the contraction happen, and not prolong the pain with this gawd awful bailout plan.
Weirdly, this seems to be one issue on which left and right are in agreement. I can’t decide if that’s a good thing or not...
If we are actually lending the money to corporations (Supposedly 2 years) then we should get something in return and it should be the same thing a bank or corporations have been asking us for, its a little thing called interest.
Yet now we are coerced into using Paulson Plan, the plan if you can call it that is demanding no accountability to anyone. No reviews by congress. No review by judges. Paulson will have 700$ billion to dole out as he sees fit, buying crap debt from his buddies and pawning it off on the American people. He will have total pricing authority on the 700B.
No accountability
Conflict of internist
No proof the plan will actually work