Yes, I know the link is to cnn, but even a blind hog ...
bailout transfers enormous wealth from taxpayers to those who knowingly engaged in risky subprime lending. Thus, the bailout encourages companies to take large, imprudent risks and count on getting bailed out by government. This "moral hazard" generates enormous distortions in an economy's allocation of its financial resources.
The expert suggests that it's time for the bankers to go through the same wringer they've put the dot-com, real estate, small business, and family farmer through: if you're a bad manager you should go under. It's for the good of the country.



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Imagine 700billion on alt. energy
Imagine if they spent that money on alternative energy promotion and infrastructure.
Would we still be looking at a recession?
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Around these parts we call cucumber slices circle bites
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I'm not such a bad guy once you get to know me.
Oh noes!
I just called...
UPDATE And the staffer sounded like she'd been taking a lot of incoming fire. I bet upstate New York is not happy about this at all, not at all.
[ ] Very tepidly voting for Obama [ ] ?????. [ ] Any mullah-sucking billionaire-teabagging torture-loving pus-encrusted spawn of Cthulhu, bless his (R) heart.
"First they ignore you, then they ridicule you, then they fight you, then you win." -- Mahatma Gandhi
definitely they need to go under
It is most urgent that predatory practices be harshly punished.
If the homeowners aren't going to be helped
I don't think the foolish leaders of the bank should be helped either.
Those "Bankster" folks should just hunker down, quit whining, stop buying what they can't afford, and deal with it like the rest of us.
What exactly is she saying???
We know the bill wasn't better because the conference call between Treasury and Wall Street last night revealed the financial crowd not getting too bent out of shape about it. Maybe she figures giving ACORN $140 Million wasn't such a good idea, seeing as Obama was likely to be involved in a conflict of interest. Maybe she thinks she can get HOLC inserted there somehow. But I think she should know by now that the public seems willing to play chicken on this one. After all, most of them don't live off the stock market.
Americans are really pissed. But I suspect that Pelosi, Reid and the other evil ones are behind her change in tone. She was out there undermining Pelosi and Obama with her dangerous talk about doing it right. We can't have that.
She was bitten once by the IWR. She's got to hold her ground now, even if Wall Street takes a beating. They are her constituents but they aren't immune from the consequences of bad behavior. Besides, there are many, many more constituents to consider and they vote.
Come together at The Confluence
Come together at The Confluence
I turned this into a post
[ ] Very tepidly voting for Obama [ ] ?????. [ ] Any mullah-sucking billionaire-teabagging torture-loving pus-encrusted spawn of Cthulhu, bless his (R) heart.
"First they ignore you, then they ridicule you, then they fight you, then you win." -- Mahatma Gandhi
Ohhhh, *I* see what she's done
She did an anti-Pelosi. She isn't praising the bill. She is praising the Republicans who broke with their party to join the Democrats. She needs to hold onto those people while at the same time increase the number of Democrats. The new bill has to be able to satisfy the Democratic constituents so there will have to be changes. But she has to appeal to the Republicans who crossed the aisle yesterday and ask them not to abandon Main Street.
I don't know if it's possible to do both but if she manages to pull it off, we will HAVE to dump Obama.
Come together at The Confluence
Come together at The Confluence
Can you move this to the post?
Thanks. I'm closing this thread, which can continue here.
[ ] Very tepidly voting for Obama [ ] ?????. [ ] Any mullah-sucking billionaire-teabagging torture-loving pus-encrusted spawn of Cthulhu, bless his (R) heart.
"First they ignore you, then they ridicule you, then they fight you, then you win." -- Mahatma Gandhi