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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"Management and unions come to the table roughly equal in power, though you refuse to see this, and refuse to see the good that comes from this process."
And yet I've asked you several times how you could hold the position that these unions are on the same or similar footing as their parent company when the unions can not only shut down the company, but parts of government as well but have never gotten an answer, only the same broken-record response of 'they are on equal footing'.
Just because you claim something does not make it so.
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
">>> ______I'll put this as gently as I can friend, to avoid any risk of a TOS violation. That you keep comparing President-elect Obama to Hitler speaks to your credibility. Just because you don't see it doesn't make it not so.
And just because you say it doesn't make it so. Personally, I don't care if I have any "credibility" as far as you're concerned, the facts remain the facts...and there are similarities between Obama's rise to power and his socialist programs and that of Hitler. Make of it what you will or deny it if you must.
>>> So feel free to keep on using a term which insults half the people on this board and comparing President-elect Obama to Hitler. It is quite revealing.
Well, first of all, I haven't compared Obama to Hitler, I only acknowledge that there are similarities as presented by others."
You are playing the Fox Republican game my friend. You are only acknowledging similarities between Obama and the H bomb, but you are not saying they are similar. Uh huh. Sorry that one will fly about as far as an elephant. By that logic, any number of your Republican idols also is similar. In reality, none of them are similar and resorting to comparing someone to Hitler shows desperation and a lack of credibility. They even made up a popular term for it: Godwin's law. Really. Look it up. And there is an interesting corollary principle:
"There are many corollaries to Godwin's law, some considered more canonical (by being adopted by Godwin himself) than others invented later. For example, there is a tradition in many newsgroups and other Internet discussion forums that once such a comparison is made, the thread is finished and whoever mentioned the Nazis has automatically "lost" whatever debate was in progress. This principle itself is frequently referred to as Godwin's Law. It is considered poor form to raise such a comparison arbitrarily with the motive of ending the thread. "
Good point by the way about your acronym not referring to anyone on this board. I missed that, apologize for insinuating otherwise, and try to acknowledge when I am wrong and someone else is right. As you can see, I am being very generous, particularly in view of the principle that you lost the argument on this thread many posts ago when you started spouting about Hitler.
"Management and unions come to the table roughly equal in power"
I would like to add,
1. Over the past several decades management in America has been more powerful than unions, as evidenced by the decline of unions.
2. If our government provided the same benefits as many of our competitors, unions would not have to ask for basic things like healthcare and retirement security.
3. Management is the party that steered our Hummer of an auto industry into a big fat ditch. Unions were in the passenger seat for that one.
4. Unions helped lift millions of Americans out of misery and create the middle class that makes America great. It's no coincidence that as the power of unions and falls and America labor gets abused, America has suffered the worst economic collapse since the Great Depression.
"Yes, our country is and has a history of being right of most.
<Yes, our country is and has a history of being right of most.
Sopal
<?xml:namespace prefix = v ns = "urn:schemas-microsoft-com:vml" />
ASHINGTON - The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed. It ignored remarkably prescient warnings that foretold the financial meltdown, according to an Associated Press review of regulatory documents.
“Expect fallout, expect foreclosures, expect horror stories,” California mortgage lender Paris Welch wrote to U.S. regulators in January 2006, about one year before the housing implosion cost her a job.
Bowing to aggressive lobbying — along with assurances from banks that the troubled mortgages were OK — regulators delayed action for nearly one year. By the time new rules were released late in 2006, the toughest of the proposed provisions were gone and the meltdown was under way.
http://www.msnbc.msn.com/id/28001417/
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
>>> You are playing the Fox Republican game my friend. You are only acknowledging similarities between Obama and the H bomb, but you are not saying they are similar. Uh huh. Sorry that one will fly about as far as an elephant. By that logic, any number of your Republican idols also is similar. In reality, none of them are similar and resorting to comparing someone to Hitler shows desperation and a lack of credibility.
Again...and no surprise here...you're mistaken. "I" didn't examine Obama and recognize historical correlations with Hitler's rise to power. Others observed and made that connection. When they made their case, "I" agreed that there were certain similarities. You may find any objective analysis to be void of credibility because it taints your Obamessiah, but it's that lack of integrity and honesty that robs you of your own credibility. If you want to honestly confront and dismiss those perceived similarities, then you should list them, point by point, and prove them wrong...if you can.
>>> Good point by the way about your acronym not referring to anyone on this board. I missed that, apologize for insinuating otherwise, and try to acknowledge when I am wrong and someone else is right. As you can see, I am being very generous, particularly in view of the principle that you lost the argument on this thread many posts ago when you started spouting about Hitler.
Thanks for being so generous, even if it is self-proclaimed generosity. As for "losing the argument"...sorry, but you'll need a little more than "because I say so" to walk away with the trophy. PROVE your case first...again, if you can.
Look, this board seems to be okay with you going off about Hitler, so keep going for it.
As for your comment about my integrity, I will not return the insult in kind. The remark is about as revealing as the fact that you spend an inordinate amount of time "not" comparing Obama to Hitler a la Fox "not" News ;)
Still no answer as to why unions 'need' the power to shut down not only the parent company but also parts of government to place them on an 'equal footing' with their parent companies I see.
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