"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design."--F.A. Hayek
clearly brought to you by the RNC. If you believe that this problem was brought own by Dems alone, you probably believe we'll see some of that $700b back. They were all inept and bought. The fundamental problem is GWB. It's another Brownie situation. He put a person in charge of the sec who was not at all interested in making sure the rules were followed. See this article: http://www.nytimes.com/2008/10/03/business/03sec.html?_r=1&scp=5&sq=sec&st=cse&oref=sloginYou are consuming disinformation.
I don't think you can read much of what I've posted and think that I believe that this is solely the responsibility of the Democrats and I don't know how much more critical I could be of the Bush administration.However, this is pretty damning stuff and shows that a catastrophe, like the one we have, takes many partners. GWB isn't solely responsible for this, neither are the democrats.I don't think we're going to see any of the $700 billion back and the only thing it's going to do is push back the day of reckoning--it will keep house values artificially inflated. Paulson, Bernanke, Bush, Frank, Walters, Dodd--string 'em all up as far as I'm concerned.The whole episode shows the danger of government involvement at all. Now we're going to see the double whammy of the government "fix."
Here's my question:if we're giving these corps. the $ so because they have given out a lot of loans which people can't pay, why not use this money to (I would imagine aprox. 2% of it) to set up a program to negotiate new terms between the loan holders and loanees that would allow them to keep their houses and at the same time sure up these bullshit bundles of loans? We're giving the money away why not help some people keep their houses? I didn't mean to suggest you feel the democrats where to blame. It was more of a professional analysis of a highly edited video that was clearly made to lay the blame on the dems. I watched a video of Rep. Franks on O'Rielly. Great stuff. O'Rielly's a JO, but he is correct in suggesting these AH's should be resigning rather than patting themselves on the back for a job well done.
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