Brian, I think you have forgotten how much stimulus has been and is still being thrown at this problem. 1.5 trillion over budget every year is without a doubt stimulus. Fed stealing from every saver in this country in order to produce a wide spread is stimulus. Now they just passed the 2% holiday on social security tax…..yet another huge stimulus. This is of course, not even mentioning the stimulus packages and bailouts.
The multiple housing programs and credits have helped drag on the housing problem for years more than it should have taken to get to a sustainable level and i don’t believe we are close yet. It appears we are in for a long slow decline in prices.
Allowing banks to throw their bad assets into Fannie and Freddie at inflated prices in order to let the taxpayer take the hit and keep bank bonuses flowing.
Geithner I am sure had a hand in changing the accounting rules to hide losses in the banks. Not a desirable choice in my book….one that is dragging this problem out longer instead of facing facts and moving on.
If sloshing taxpayer money is the new definition of smart, then I guess you are right and I am wrong.
Also, don’t forget how culpable Geithner was in the entire meltdown. He was in charge of the banks on Wallstreet during the lax lending….the epicenter of the problem.
You would really have to believe everything is fixed now and can sustain without government life support (I don’t), forgive Geithner for helping cause the meltdown (I don’t), and overlook his cheating on his taxes (I don’t) in order to have confidence in this man.
