[quote=TheBreeze]
Paulson, Bernanke, and Buffet are “everyone that matters”? Paulson and Bernanke are either idiots or crooks or both. They’ve been saying things are fine for forever and now suddenly they are saying there is a crisis. Buffet is respectable, but he may just be talking his book. Bernanke could have stopped this long ago with prudent mortgage regulations but instead he did nothing and said the problem was “contained”.
[/quote]
While I don’t disagree that they made some pretty serious errors and spent too much time cheerleading, I don’t think they are either idiots or crooks. Bernanke wrote the book (literally) on how the government reacted wrongly to economic downturn. Historically (and in the case with this chairman, personally) that reactionary component has been a big part of the Fed’s role. They are still trying to get it right with the whole forecasting and preventative thing. Clearly, they have not got that part figured out yet.
By being those that “matter”, I refer to the fact that they represent a pretty diverse set of interests (fiscal management, monetary policy, and private investment) at a micro level and are considered the most influential of those interests.
[quote=TheBreeze]
I find Mish, Roubini, and Jim Rogers to be much more credible on these issues as they have been right about the housing bubble for so long. They each think this bailout is ridiculous and won’t work. There’s no doubt that credit is contracting and the commercial paper market may even be in a ‘crisis’, but attempting to reflate the bubble by overpaying for mortgages is not the solution.
[/quote]
I thought it was more about securities and not the underlying paper, but your experts may be proven right. I don’t think it is possible to truly know the future on that.
I don’t think it will reflate the bubble, but if it the bailout does happen, then it may stabilize commercial lending. I think that is the point.
[quote=TheBreeze]
…you are a huge ‘tard. [/quote]
And I thank you for clarifying the level of your discourse. Perhaps you think calling me a name will strengthen your argument but, like your original thread, projects that are purely critical are inherently weak and you don’t make them stronger by calling me a “tard”. Generally insults mean the thinking has stopped. You basically started to make a point and punctuated it with a childish insult. That does not go long way towards making your point.
