This would generate a wave of new jobs (and likely innovative new technologies)---unlike loaning it to GM or Chrysler, which would be just pouring money down a (union) rathole.
Think about this. Until 2006, when Nancy Pelosi and the Democrats took over Congress, things were pretty darn good. After two years of the Democrat Congress blocking and raising a ruckus, Fannie and Freddie collapsed, taking everything with them. Carter had started the F&F type plans for giving mortgages to those who were bad risks. Clinton expanded on it, using the force of the Attorney General, Janet Reno, to enforce those types of loans - OR ELSE! - on banks and lending institutions. In 2006, McCain, Elizabeth Dole and other Republicans wanted to pass legislation that would have dealt with Fannie & Freddie, warning that a disaster was coming if they weren’t dealt with. Chris Dodd, Barney Frank, Barack Obama and the rest of the Democrats pooh-poohed saying, “nothing to see here, move along”. Fannie & Freddie was a big old goose that had laid a golden egg in their laps, and Obama was well on his way to collecting a lot of golden eggs from F&F. . not to mention other Clinton cronies from yesteryear who collected MILLIONS upon MILLIONS from F&F.
The truth is that the Democrats in Congress were mad as wet hens that they were being denied their BIRTHRIGHT to RULE this country. They knew they had set the country up for a recession, maybe even a depression. They didn’t care what their selfish hissy fit caused as long as they got back into their rightful place IN POWER.
Oh, and to any DU’ers on this thread. Obama isn’t going to pay your mortgage and fill your gas tank like he led you to believe, and when he bankrupts the coal industry, we will all be lucky to be able to pay our electric bill and get a few groceries. (Remember when that happens that Governor Palin served on an energy-related board, governs an energy rich state, and is an EXPERT on the subject. She is NOT Tina Fey.)
Don't just do something, stand there! In the name of the Great Jehova, let's pray that 0bama takes this advice.
There is a good new book by Burton Folsom called “New Deal or Raw Deal?” Burt is a prof of history at Hillsdale, and this is as good a short, one-volume history of the problems of the ND as you’ll find. I recommend it over Amity Shlaes’ “Forgotten Man.” More to the point.
Oh, what could'a been - Delay's "permanent" Republican majority, ..., etc. was not as "good" as it was cracked-up to be.
Exit stage left - seeking not a "new, revised, improved" GOP as that is doomed and a waste of time. Same old, same old - the "wishful" thinking of the past.
Just a simple idea having a potentially near-term impact, for starters, the Non-Incumbent Party. Next election - any one, good or bad, on any ballot as an incumbent, is voted out. Ends: seniority, patronage, ties to "special interests", ..., etc.
A quick, easy, and Constitutional approach to term-limits.
As far as I’m concerned (AFAIC?), the news here is that this is in the New York Times. I hope: A) it is the print edition; B) it is not buried in the print edition.
The findings in the excerpt are very important. Hoover and Roosevelt raised taxes - the wrong thing to do. Roosevelt tried to keep prices up - the wrong thing to do.
Many people blame the UAW for the problems of the big three. There is a lot of truth in that argument. But why do the unions have so much power? I think the answer lies in government policies put in place by Roosevelt.
Answers for today. Keep taxes low, let prices fall. Rethink and reduce union power.
By 1938, our unemployment was at 25%, the same it was in 1932.
By that time the GOP regained seats in Congress, the Supreme Court knocked down the NRA as unconstitutional, a number of New Dealers were defeated and FDR turned his attention to foreign affairs.
it did work
gave the rats a lot of power
that is their only criteria. so the rest of us suffer, that is good so the dims can “save” us