Posted on 03/23/2009 2:28:41 AM PDT by Scanian
THE Obama administration is about to unveil the anxiously awaited details of its initiative to fix the banks. But, judging from the details already leaked, the Public-Private Investment Fund (PPIF) isn't going to do the job.
Those of us working last year under then-Treasury Secretary Henry Paulson studied and rejected a similar scheme. Expect the new team to ultimately wind up falling back on expansion of the program we began, the Term Asset-Backed Securities Loan Facility (TALF), which just became operational.
A viable long-term solution must purge from banks' balance sheets the troubled assets now clogging the nation's credit pipeline. Warren Buffett proposed the original form of the administration's plan last October: The government and the private sector would co-invest in multiple funds that would compete to purchase troubled assets.
The Paulson team saw a variety of problems with the idea:
(Excerpt) Read more at nypost.com ...
Dope & Mange strikes again.
noone is going to throw good money after bad, except the government
I do not even think he is trying to “fix” banks. This whole fiasco is part of his International communist party plan. Obama and Company want to get rid of one major obsticle. Capitalism. To do it they need to get rid of the current”system”. Somehow some way the new socialst system is going to be based on “green”. Maybe so called carbon credits will become the new world economy currency.
bump
That's exactly it: It won't work because the socialist doesn't want to fix banks. He wants to grab as much power as possible, so he's trying tactics that he knows will fail to fix the problem but will help him to accumulate power.
That's exactly it: It won't work because the socialist doesn't want to fix banks. He wants to grab as much power as possible, so he's trying tactics that he knows will fail to fix the problem but will help him to accumulate power.
Truth of the matter is....a pig knows more about Sunday than zero and his minions know about fixing banks!
His marxist infected brain can not grasp the only way to fix Capitalism is more cpitalism. Not less capitalism. Basically he is a communist manging capitalism to total collapse. Total collapse will be here shortly. With no capitalism to pay for stupid communist programs what will they do? Simple..Rationing..Price controls wage controls etc. etc. etc.
Kind of like competing to be see who is first to have your face and fingers chewed off by a chimp.
“Somehow some way the new socialst system is going to be based on “green”. Maybe so called carbon credits will become the new world economy currency.”
Agreed, but only in the process towards their goal IMO. Once they have secured their goal, the “Green” would quietly become of little, or no concern.
Greenbacks will have a new meaning.
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