To: JasonC
Perhaps they are not idiotic but trying to cover for their associates. In the time likes this, you need the perfect plan, which won't be forthcoming, realistically speaking. Any bill like this would be biased toward saving some over the rest. The better connected over those who aren't.
Still I am wondering if there was a perfect plan to turn things around in the first place.
101 posted on
10/06/2008 7:38:59 AM PDT by
TigerLikesRooster
(kim jong-il, chia head, ppogri, In Grim Reaper we trust)
To: TigerLikesRooster; JasonC
Still I am wondering if there was a perfect plan to turn things around in the first place. Yes!
Insure that the loans would be paid and let the market work. Also, let the banks holding the mortgage backed securities value them based on cash flow and not mark to market.
They didn't do that and have made a tough recession that's just getting started a lot tougher.
152 posted on
10/06/2008 8:22:36 AM PDT by
wmfights
(Believe - THE GOSPEL - and be saved)
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson