Posted on 09/23/2008 12:18:40 PM PDT by Domandred
German economists endorse the government's refusal to buy up bad U.S. debt, saying it would reward reckless investment behavior
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Economics experts think that's the right response. As they see it, in the long run, those responsible for the crisis—who have been cashed out with high salaries and bonuses for years—will not be penalized for billions "but will be let off the hook like everyone else," says Carsten Meier of the Kiel Institute for the World Economy (IfW). According to Meier, by injecting capital into the market, the US government is putting everyone who speculated and lost back on their feet and thereby standing in the way of a market cleanup.
(Excerpt) Read more at businessweek.com ...
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
Interesting since they got all our money after 1929, see link of largest printing of $500's, $1000's, and $10,000 dollars bills ever.
Yes, we need to be led by their opinion. Their economies have been run so efficiently, haven't they? Sheesh.
Quite right, and they should go light on any sense of indebtedness after the Marshall Plan, Berlin Airlift, umbrella of protection during the Cold War/thwarting further Soviet expansion into Europe ... and generally putting Europe back on its feet after the latest of their silly World Wars.
After the elections we need a special prosecutor to go after the billionaire poverty pimps with RICO statutes.
Politicians need to learn what’s it’s really like to work hard for your money!
It’s easy to be ‘compassionate’ with someone else’s hard earned cash!
This ‘economic tsunami’ has been predicted for a while. It’s said that a global depression will start March or June of 2009 and last 10 years. Is this self fulfilling prophecy or what? There is a trend you must admit.
But will the current proposal result in that or will it retard the depression?
I dont usually agree with the Germans on anything but they are right on this bail out.
I dont usually agree with the Germans on anything but they are right on this bail out.
Is this crisis real or is it Memorex - can there possibly be this many bad mortgages that they have collapsed the country’s entire banking system?
I don’t see the problem in NJ. Maybe some of you do in your areas. In listening to today’s hearings, somewhat, I could hear no effort to prevent future foreclosures if that is the real problem, only to bail out the previous ones.
The haste that this is being pursued leaves the impression that mortgages may be just the scapegoat for deeper problems in the economy. This bailout might have other purposes.
Whats curious here....is that the German government is actually talking of a CEO pay limit...which would be dictated by the government. Once they limit the CEO...then the entire pay package would start to be laid out...then the pay for the number two would come under control...etc...etc.
The unions are actually backing this call...and its liable to get passed eventually in Germany. This type of control....would be impossible to press in the US because of the political corruption that sits in the congress and senate.
Losers: Middle-class Americans. We get the bad loans so the Wall Street Crooks can start making money again. We get inflation or deflation - depending on which way the pendulum swings. We get the debt to hand to our children, grandchildren and great grandchildren.
In short, the usual suspects get the gold mine and the middle-class gets the shaft.
The Germans are smart enough not to throw good money after bad. Too bad we don't "get" that...
Did the US ask for help from Germany, or anyone else???
If it wasn’t for us they would be speaking German! ingrates! /s
US government is putting everyone who speculated and lost back on their feet and thereby standing in the way of a market cleanup.
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basically the above says it all. At some point we have to face reality. Paper clips and scotch tape remedies simply prolongs the enevitable. If those who made the decisions that caused this debacle are not held accountable it’s a bit foolish to expect continued confidence in our system.
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