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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You can (or you should be able to) google and do research as easily as I can.
Does your senator, congressman or woman fly commercial?
Yes, all mine do.
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
We debated that endlessly at the time. It was totally blown out of proportion by the right. I cannot recall all the details now, perhaps Sopal remembers them...
given here ranking in our political system, I do think the person next in line of succession after the veep should take certain precautions, eh?
Wall
Full length fiction: worlds undone
"You have no power over my body..." ~ Anne Hutchinson
Would you not emphasise a crisis as reason number one things must change?
By the way, so much for the Reagan Revolution.
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
Government should live under the same rules then.
Does your senator, congressman or woman fly commercial?
Full length fiction: worlds undone
"You have no power over my body..." ~ Anne Hutchinson
"High end employees with that kind of clout are at best less than 5% of the workforce. And unions negotiated those plans with auto companies. "
Actually to reap the benefits at some level
Actually to reap the benefits at some level
Full length fiction: worlds undone
"You have no power over my body..." ~ Anne Hutchinson
Yes they will if given the chance.
Full length fiction: worlds undone
"You have no power over my body..." ~ Anne Hutchinson
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