Posted on 09/25/2008 1:50:16 AM PDT by Tempest
"It would add to the liabilities of a government that is already living way beyond its means. It would give unprecedented power to a couple of officials who have proved highly fallible in trying to avert this alleged crisis. And it poses the risk of abuse and corruption because the government has no way to gauge the value of what it will buy. "
"George Kaufman, a finance professor at Loyola University Chicago, is skeptical. "The last refuge of a scoundrel regulator," he says, "is to shout 'systemic risk.' " Usually, the alarm is false. He notes that aside from interbank lending, the credit markets were functioning tolerably well at the height of the crisis. Rates on 30-year mortgages actually dropped last week."
"Not only that, the more effective it is, the more damage it will do to the free-market system. Saving companies from their bad gambles turns business into a game of "profits for me, losses for you," corroding the incentives that make capitalism so innovative and efficient. "
(Excerpt) Read more at chicagotribune.com ...
Yes, I do.
Thank you!
NO BAIL OUT!
I am leaning toward NO BAILOUT. I am sick & tired of crooked Politicians and crooks getting my (our) TAX $$
We will be throwing good(?) money after bad. I saw a website this morning advertising refinacing - NO SSN Required. They are not learning. Or they think the American taxpayer is a source of unlimited funds.
From the NY Post:
Sponsored Links
Mortgage Rates Drop - Fed at 2%
$200,000 loan for $708/month. Free Quotes - No SSN Rqd. Save $1000s!
www.Mortgage.RefinanceFrontier.com
grow up.
Think of it as an investment. You'll be getting 11-15 trillion worth of risky credit debt for only 700 billion.
The potential payout can wipe out the need for taxes for years.
All we have to do is hire good collection agencies to make sure everyone pays. :o)
And you think those are legit banks? Go ahead, borrow their money 33% interest. They don't need your ssn, just a list of your assets for security. They collect houses for cheap when their clients don't pay.
LoL! good one.
So, falling 30-year mortgages was a good thing last week? Right... That was due to the bond market collapsing as the 10 year bond went to 0.18% yeild in a devastating flight to safety. Yeah, that’s a real good thing. Good-bye, China. Sorry you can’t stick around to float our debt some more... Even the author admits that credit had all but collapsed.
Newt's plan is best. Cut the corporate and capital gains tax to %0, repeal the stupid rules, and let the market come up with the money! Good businesses will survive. Bad businesses will die. People who pay their bills will keep their houses. People who don't will lose them. That's the way it's supposed to work. You don't reward bad behavior and ignore good unless you want more bad and less good.
And to make it worse, why does McCain choose now to become a team player when he should be bucking Washington and sticking up for us? They released a joint statement? Are you kidding me? He could be the hero here while Obama sits on a stage in MS next to an empty chair. This is completely insane!
Knock knock.
Who’s there?
Health care.
Health care who?
HEALTHCARE BAILOUT!
But, he doesn't.( He did by a pile of Goldman, and then go on to publicly support the bailout, which would increase the value of.....Goldman.)
The world is awash with money, looking for a home. 700 billion US Dollars are not what they used to be. If the Chinese and Japanese and whoever is worried about their paper, let them get together and bail it out, just like Morgan did, or the banks did Trump.
Lefties love Thoreau. Strange times. I find a old lefty saying something good and the compassionate conservatives that have given us huge, liberal government are for a welfare bailout. Who would of thought it? A Bush for higher spending?
The left looks at us as victims and future serfs and slaves, and the GOP as 'little people' that need the firm, yet benevolent hand of an elite, self dealing mercantile class. Kind of like how British gentry viewed there scully cap tugging crofters.
F Washington and its supplicants.
When you owe the bank a hundred grand, you owe the bank. When you owe the bank a trillion dollars, you OWN the bank.
(IS this a problem on the demand side, or the supply side?)
What, you don’t think 70 TRILLion in obligations is a good thing? Come on!
/s
Here’s your bump.
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