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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1st amendment rights
This is becoming quite predicatable.
Everywhere you look, this just gets better and better:
"Ford did win a lot of awards in 2007."
I have to say I am impressed with the American-made 2008 Chevey.
"doesn't
"I sincerely doubt the accuracy of that statement."
You know...
Older workers get that?
Sopal
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>>> While we can't be sure precisely how much those workers make, because the companies don't make the information public, the best estimates suggests the corresponding 2007 figure for these "transplants"
Either they know, or they don't know. And since the author admits that he doesn't know, what is the basis for the "best estimates?"
>>> Oh well. I'm sure Republicans on this board will keep trying to blame the US auto company crisis on the workers.
Not at all, we blame it on the "dopes" (Democrat officials and politicians everywhere). They screwed the pooch with their sub-prime lending schemes and the car companies are just another casualty.
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