1 possible solution for the $700 Billion

[Aecetia]

“If left to their own devices they’ll turn it into a giant cookie jar instead of taking the trouble to enact the measures that will boost the economy when it is in deep trouble.”

“The bailout is a panic remedy designed to prop up the crumbling mortgage market by buying up mountains of near-worthless paper currently poisoning America’s credit system while ignoring the root causes of the nation’s economic malaise.”

“No matter how it’s described, it is a socialistic answer to a capitalist problem. It does nothing to foster the system of free enterprise upon which America’s prosperity depends.”

http://townhall.com/Columnists/MichaelReagan/2008/09/24/lets_get_it_right

Here’s another sticking point:

http://hotair.com/archives/2008/09/26/the-democratic-acorn-bailout/

“House Republicans refused to support the Henry Paulson/Chris Dodd compromise bailout plan yesterday afternoon, even after the New York Times reported that Treasury Secretary Henry Paulson got down on one knee to beg Nancy Pelosi to compromise. One of the sticking points, as Senator Lindsey Graham explained later, wasn’t a lack of begging but a poison pill that would push 20% of all profits from the bailout into the Housing Trust Fund — a boondoggle that Democrats in Congress has used to fund political-action groups like ACORN and the National Council of La Raza:”

[5yearwaiter]

[quote=rnen]5year..

Ummm, you do know that they were NOT competing in a free market, that they were encouraged, if not forced, to give extremley high risk loans by the government? Sure, greed took over and things got completely out of control but this whole mess was the brainchild of Carter, supported and intensified by Clinton and ignored by Bush.

.[/quote]

Rnen…

I agree with you and sounds this new possible solution is going to work …

I was quick in the first instance to write such.. however I am clear with your new way of Possible solution is a welcome plan and this should be considered by our experts towards this…!!

[5yearwaiter]

[quote=rnen]5year..

Ummm, you do know that they were NOT competing in a free market, that they were encouraged, if not forced, to give extremley high risk loans by the government? Sure, greed took over and things got completely out of control but this whole mess was the brainchild of Carter, supported and intensified by Clinton and ignored by Bush.

.[/quote]

Rnen…

I agree with you and sounds this new possible solution is going to work …

I was quick in the first instance to write such.. however I am clear with your new way of Possible solution is a welcome plan and this should be considered by our experts towards this…!!

[5yearwaiter]

[quote=rnen]5year..

Ummm, you do know that they were NOT competing in a free market, that they were encouraged, if not forced, to give extremley high risk loans by the government? Sure, greed took over and things got completely out of control but this whole mess was the brainchild of Carter, supported and intensified by Clinton and ignored by Bush.

.[/quote]

Rnen…

I agree with you and sounds this new possible solution is going to work …

I was quick in the first instance to write such.. however I am clear with your new way of Possible solution is a welcome plan and this should be considered by our experts towards this…!!

[5yearwaiter]

[quote=rnen]5year..

Ummm, you do know that they were NOT competing in a free market, that they were encouraged, if not forced, to give extremley high risk loans by the government? Sure, greed took over and things got completely out of control but this whole mess was the brainchild of Carter, supported and intensified by Clinton and ignored by Bush.

.[/quote]

Rnen…

I agree with you and sounds this new possible solution is going to work …

I was quick in the first instance to write such.. however I am clear with your new way of Possible solution is a welcome plan and this should be considered by our experts towards this…!!

[5yearwaiter]

[quote=rnen]5year..

Ummm, you do know that they were NOT competing in a free market, that they were encouraged, if not forced, to give extremley high risk loans by the government? Sure, greed took over and things got completely out of control but this whole mess was the brainchild of Carter, supported and intensified by Clinton and ignored by Bush.

.[/quote]

Rnen…

I agree with you and sounds this new possible solution is going to work …

I was quick in the first instance to write such.. however I am clear with your new way of Possible solution is a welcome plan and this should be considered by our experts towards this…!!

[Diego Mamani]

Then take the 700 billion and use it to create a new, FOR PROFIT, lending agency that is privately run and government sponsored.

You’re kidding, rigth? You just described how Fannie and Freddie were created. That’s precisely how we got in this mess!! The gov’t should be out of the mortgage business (and most other businesses for that matter). And that includes ‘sponsoring’ monsters that buy mortgages for political reasons.

Socialism has been utter failure in the USSR, Cuba, etc. Even the Chinese and Vietnamese realize that and now promote free markets. What makes you think that socialism would work here? The mess we’re in today is further proof that we need free markets, regulated yes, but with only private (non gov’t) entities taking risks and enjoying the benefits (or bearing the losses) of their enterprises.

[Diego Mamani]

Then take the 700 billion and use it to create a new, FOR PROFIT, lending agency that is privately run and government sponsored.

You’re kidding, rigth? You just described how Fannie and Freddie were created. That’s precisely how we got in this mess!! The gov’t should be out of the mortgage business (and most other businesses for that matter). And that includes ‘sponsoring’ monsters that buy mortgages for political reasons.

Socialism has been utter failure in the USSR, Cuba, etc. Even the Chinese and Vietnamese realize that and now promote free markets. What makes you think that socialism would work here? The mess we’re in today is further proof that we need free markets, regulated yes, but with only private (non gov’t) entities taking risks and enjoying the benefits (or bearing the losses) of their enterprises.

[Diego Mamani]

Then take the 700 billion and use it to create a new, FOR PROFIT, lending agency that is privately run and government sponsored.

You’re kidding, rigth? You just described how Fannie and Freddie were created. That’s precisely how we got in this mess!! The gov’t should be out of the mortgage business (and most other businesses for that matter). And that includes ‘sponsoring’ monsters that buy mortgages for political reasons.

Socialism has been utter failure in the USSR, Cuba, etc. Even the Chinese and Vietnamese realize that and now promote free markets. What makes you think that socialism would work here? The mess we’re in today is further proof that we need free markets, regulated yes, but with only private (non gov’t) entities taking risks and enjoying the benefits (or bearing the losses) of their enterprises.

[Diego Mamani]

Then take the 700 billion and use it to create a new, FOR PROFIT, lending agency that is privately run and government sponsored.

You’re kidding, rigth? You just described how Fannie and Freddie were created. That’s precisely how we got in this mess!! The gov’t should be out of the mortgage business (and most other businesses for that matter). And that includes ‘sponsoring’ monsters that buy mortgages for political reasons.

Socialism has been utter failure in the USSR, Cuba, etc. Even the Chinese and Vietnamese realize that and now promote free markets. What makes you think that socialism would work here? The mess we’re in today is further proof that we need free markets, regulated yes, but with only private (non gov’t) entities taking risks and enjoying the benefits (or bearing the losses) of their enterprises.

[Diego Mamani]

Then take the 700 billion and use it to create a new, FOR PROFIT, lending agency that is privately run and government sponsored.

You’re kidding, rigth? You just described how Fannie and Freddie were created. That’s precisely how we got in this mess!! The gov’t should be out of the mortgage business (and most other businesses for that matter). And that includes ‘sponsoring’ monsters that buy mortgages for political reasons.

Socialism has been utter failure in the USSR, Cuba, etc. Even the Chinese and Vietnamese realize that and now promote free markets. What makes you think that socialism would work here? The mess we’re in today is further proof that we need free markets, regulated yes, but with only private (non gov’t) entities taking risks and enjoying the benefits (or bearing the losses) of their enterprises.

[underdose]

“What this country needs is to clean house and through future elections replace ALL in congress. It is unlikely that there is one honest and uncorrupted person left on BOTH sides.”

You’re right, it is unlikely. But I think Ron Paul might actually be one. I just finished reading his book “The Revolution”, and he nailed this economic problem dead on. He makes the very valid point that we are always faced with false options, “Should we bomb this country or that country? Should we spend $700B this way or that way?” These questions exclude the options, “How about we don’t bomb anyone? How about we don’t spend $700B bailing out a failed system and burdening responsible citizens with higher taxes and inflation?” The damage has already been done. It was years ago, else this website wouldn’t exist. There is no bailing out this problem. We have the tough choice again of either taking our medicine today, hopefully mostly on our own terms, or taking even worse medicine tomorrow, likely on the terms of our biggest creditors, among whom are China and Russia. I don’t like option two. How about we don’t spend the additional $700B we don’t have?

[underdose]

“What this country needs is to clean house and through future elections replace ALL in congress. It is unlikely that there is one honest and uncorrupted person left on BOTH sides.”

You’re right, it is unlikely. But I think Ron Paul might actually be one. I just finished reading his book “The Revolution”, and he nailed this economic problem dead on. He makes the very valid point that we are always faced with false options, “Should we bomb this country or that country? Should we spend $700B this way or that way?” These questions exclude the options, “How about we don’t bomb anyone? How about we don’t spend $700B bailing out a failed system and burdening responsible citizens with higher taxes and inflation?” The damage has already been done. It was years ago, else this website wouldn’t exist. There is no bailing out this problem. We have the tough choice again of either taking our medicine today, hopefully mostly on our own terms, or taking even worse medicine tomorrow, likely on the terms of our biggest creditors, among whom are China and Russia. I don’t like option two. How about we don’t spend the additional $700B we don’t have?

[underdose]

“What this country needs is to clean house and through future elections replace ALL in congress. It is unlikely that there is one honest and uncorrupted person left on BOTH sides.”

You’re right, it is unlikely. But I think Ron Paul might actually be one. I just finished reading his book “The Revolution”, and he nailed this economic problem dead on. He makes the very valid point that we are always faced with false options, “Should we bomb this country or that country? Should we spend $700B this way or that way?” These questions exclude the options, “How about we don’t bomb anyone? How about we don’t spend $700B bailing out a failed system and burdening responsible citizens with higher taxes and inflation?” The damage has already been done. It was years ago, else this website wouldn’t exist. There is no bailing out this problem. We have the tough choice again of either taking our medicine today, hopefully mostly on our own terms, or taking even worse medicine tomorrow, likely on the terms of our biggest creditors, among whom are China and Russia. I don’t like option two. How about we don’t spend the additional $700B we don’t have?

[underdose]

“What this country needs is to clean house and through future elections replace ALL in congress. It is unlikely that there is one honest and uncorrupted person left on BOTH sides.”

You’re right, it is unlikely. But I think Ron Paul might actually be one. I just finished reading his book “The Revolution”, and he nailed this economic problem dead on. He makes the very valid point that we are always faced with false options, “Should we bomb this country or that country? Should we spend $700B this way or that way?” These questions exclude the options, “How about we don’t bomb anyone? How about we don’t spend $700B bailing out a failed system and burdening responsible citizens with higher taxes and inflation?” The damage has already been done. It was years ago, else this website wouldn’t exist. There is no bailing out this problem. We have the tough choice again of either taking our medicine today, hopefully mostly on our own terms, or taking even worse medicine tomorrow, likely on the terms of our biggest creditors, among whom are China and Russia. I don’t like option two. How about we don’t spend the additional $700B we don’t have?

[Author]

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