Responsible bail out

iVillage Member
Registered: 08-13-2008
Responsible bail out
272
Wed, 11-19-2008 - 9:05pm

I am for the bail out. I've supported the overall idea since it was first proposed. What is distressing is how we are apparently totally bungling the power granted to this administration.


My bad. I should have known they could not even get this right.


On the way home tonight, NPR's Marketplace ran a story on how executives are being paid bonuses, and that companies are paying dividends - out of this funding. Few are doing anything remotely close to lending.


Barney Frank was right to be outraged at the lack of assistance for homeowners, and the continued reluctance of the administration to assist homeowners.


And today comes word of deflation, a huge, huge red flag that screams the 'd' word. Folks, we are on the cusp of 1930, and our leaders, given latitude they did not have in 1930, are f'ing it up.


I am no expert on this, but the way they explained this tonight, deflation can spiral downward, last occuring way back in the 1930s.


There is 450 billion left. How do we use this intelligently? First thing that has to happen is mandate no bonuses and no dividends to any company receiving funds. Mandate they must lend, and we will gurantee mortgages they renegotiate to better terms for the homeowner, allowing them to stay, with a certain acceptable parameters. Set quotas on how many mortgages they must underwrite a day, how many auto loans, etc. Publicise acceptability criteria, so people know before going in whether they qualify.


If there are one too many automakers in Detroit, don't close one, set it to a different task - any ideas out there on how we could divert them to something that helps us face other issues? America has to build things again... what can we get them to build? Financing isn't the problem, the money will be there - any ideas?

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iVillage Member
Registered: 03-25-2007
Fri, 11-21-2008 - 11:08pm

<I certainly agree with protections, but as with this discussion we are talking about people working on an assembly line doing work an unskilled teenager can do and they are getting paid $100K+ per year in salary and benefits to do it.

Sopal

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iVillage Member
Registered: 11-20-2008
Fri, 11-21-2008 - 11:13pm

"Fortunately, this state (and probably the region) will not go near right to work legislation. The fact is, right to work is anything but, it is right to control and exploit, sponsored by companies and not by workers - weaken the ability of workers to collectively bargain. That says about everything there is to know about this."


iVillage Member
Registered: 08-13-2008
Fri, 11-21-2008 - 11:13pm

You have been reading one to many propaganda pamphlets. Some companies offered bennies to attract workers, but by and large there was a huge struggle in this nation, where a whole lot of people died on the job, lost limbs, etc. Hell, my grandmother worked


Full length fiction: worlds undone

"You have no power over my body..." ~ Anne Hutchinson

iVillage Member
Registered: 08-13-2008
Fri, 11-21-2008 - 11:14pm

This state is not right to work, never will be... and we have some of the highest wages in the nation.


Go figure.


'Right to work' is one of those terms like 'war is peace,' it means the opposite of what one might think.



Full length fiction: http://llhaesa.org/ (pronounced la.hay.ess.sa)



Full length fiction: worlds undone

"You have no power over my body..." ~ Anne Hutchinson

iVillage Member
Registered: 11-20-2008
Fri, 11-21-2008 - 11:31pm

"Everything that brought us so many years of prosperity stands on the social security system as bedrock. Without it, there would be no middle class in this nation, there would be far more social unrest, etc. "


How did soc. Sec. do any of that?

iVillage Member
Registered: 08-13-2008
Fri, 11-21-2008 - 11:41pm

How did soc. Sec. do any of that?


Full length fiction: worlds undone

"You have no power over my body..." ~ Anne Hutchinson

iVillage Member
Registered: 08-13-2008
Fri, 11-21-2008 - 11:42pm

So do you carry an ill view of our military?

Full length fiction: http://llhaesa.org/ (pronounced la.hay.ess.sa)



Full length fiction: worlds undone

"You have no power over my body..." ~ Anne Hutchinson

iVillage Member
Registered: 11-20-2008
Sat, 11-22-2008 - 12:10am

"Interestingly, you are for markets... but that 25 per hour was arrived at through market forces, not by someone sitting there and arbitrarily saying "A kid walking out of highschool can do a line job.""


Those were not market forces.

iVillage Member
Registered: 11-20-2008
Sat, 11-22-2008 - 12:15am

"Our illustrious poster would probably consider that too high. ;-)"


Well shucks, according to some here we should just pay everyone fresh out of high school with no skills $60+/hr in pay and benefits...

iVillage Member
Registered: 11-20-2008
Sat, 11-22-2008 - 12:29am

"Surely your point is not that the greater majority of employees blow off work, etc? That is an incredibly jaded view of your fellow citizens."


For untrained unskilled workers such as the ones we are discussing here I think those few examples I gave would account for a large percentage.

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