Responsible bail out
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| 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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Gosh then, the electorate must be really stupid then since Reagan won two terms by wide margins and Carter barely beat an appointed President...
Go compare the economy of the Carter years with the Reagan years.
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
The Reagan years were lived on borrowed money that has yet to be repaid.
Carter took the full brunt of 25 years of bad policy towards Iran. He wasn't a great president; he and Ford were equal in my mind, close in a lot of ways. Reagan... nope, disaster in terms of national debt, approach to AIDS, Iran Contra...
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
Maybe they should consider making better cars.
They do...
Ford Awards:
Our editors sound off on the J.D. Power Initial Quality Survey
Now, lo and behold, the J.D. Power numbers back up Ford’s work with real numbers showing that the Fusion’s sibling Mercury Milan is the best car in the midsize segment (the Fusion received a third-place ranking, probably because its cupholders didn’t have enough chrome or something).
Who’da thunk it? Word comes that Ford rocked the most recent J.D. Power and Associates new-vehicle quality rankings. I honestly never thought I’d be reading that. If the word “Toyota” or “Honda” were in that sentence instead of “Ford,” I’d believe it. Frankly, I can bet I wouldn��t be writing about it. But Ford? I’m impressed.
Here are some stats to get your head around: Ford won more J.D. Power honors than any other automaker. Ford, Lincoln, Mazda and Mercury all had segment winners. Ford, Lincoln, Mercury and Jaguar brands finished in the top 10 nameplates.
http://www.autoweek.com/apps/pbcs.dll/article?AID=/20070608/FREE/70607014/1533/Columnists
The words "Ford" and "Top Pick" are becoming synonomous these days. The list of third-party awards for Ford and Lincoln Mercury vehicles keeps building as the year rolls on. Here are a few worthy of mention:
* Ford Edge and Mercury Milan two of the top 15 Family Cars recognized by Parents Magazine
* Forbes rated the Ford Fusion and Escape among the top "Smart Cars for Teens"
* Ford Edge and the Lincoln MKX earned the Insurance Institute for Highway Safety's "Top Safety Pick" and 2008 Taurus and Sable (with optional electronic stability control) won IIHS' "Top Safety Pick."
* Edge's 3.5L V-6 engine was named one of "Ward's 10 Best Engines for 2007."
* The 2007 Ford Edge won the AutoPacific best-in-class Vehicle Satisfaction Award
* Ward's Auto World magazine awarded Lincoln MKZ and Lincoln Navigator "Interiors of the Year" in their respective categories
* 2007 Lincoln Town Car received the Government's 5-star safety rating in all 5 categories
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The prestigious J.D. Power and Associates Founder's Award was presented to the General Motors Oshawa Car Assembly Plant and members of CAW Local 222 for its long-standing commitment to producing high-quality vehicles.
http://news.infibeam.com/blog/news/2008/09/29/gm_oshawa_assembly_plant_wins_prestigious_jd_power_founders_award.html
Last week the General Motors Fairfax Assembly team celebrated their successful performance in the J.D. Power and Associates 2008 Initial Quality Study (IQS). The facility manufactures the Saturn Aura and the Chevrolet Malibu midsize sedans. The Fairfax Assembly facility was awarded the Bronze Plant Quality Award, for the least manufacturing defects and malfunctions, ranking the facility third out of 67 assembly facilities located in North and South America
http://www.saturnfans.com/cars/aura/gm-celebrates-jd-power-recognition-saturn-aura-chevy-malibu-fairfax-assembly-plant
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The 2008 Chrysler PT Cruiser reliability score of 9.0 out of 10 is the Predicted Reliability rating provided by J.D. Power and Associates.
http://usnews.rankingsandreviews.com/cars-trucks/2008-Chrysler-PT-Cruiser/Reliability/
I was 20 when Reagan was elected, and actually voted for Carter. But soon realized how much better the economy got under Reagan looking back. But it took a while, as the farm economy was in a crisis then as is the housing crisis today. The farm sector has learned it's lesson in how to handle credit.
If you don't like deficits, hold on because if Obama gets all he wishes for, you haven't seen nothin' yet.
Edited 11/23/2008 9:24 am ET by farmboy60
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
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