CALL YOUR REPRESENTATIVES!!!

[sdrents]

I wrote my congressman and the senators as well. I doubt anything will sink in to avoid the huge tax burden. The market needs some stability.

I pushed hard, however, for real first-time home buyer incentives that are not income based. My point was that many Americans were financially responsible during the bubble years and the government should give incentives to get these financially solvent people off the sideline and into a home. If they are going to do everything to help people stay in their homes, at least according to Pelosi, they should add some terms that give larger tax breaks, interest rate deductions, etc. for those who can actually afford the home!

Good luck. This week should be interesting.

[equalizer]

From John P. Hussman, Ph.D., mutual fund manager:

An Open Letter to the U.S. Congress Regarding the Current Financial Crisis

In 2006, the president of the Federal Reserve Bank of St. Louis noted “Everyone knows that a policy of bailouts will increase their number.” This week, Congress is being asked to hastily consider a monstrous bailout plan on a scale nearly equivalent to the existing balance sheet of the Federal Reserve.

As an economist and investment manager, I am concerned that the plan advocated by Treasury is essentially a plan to bail out the bondholders of financial institutions that made bad lending decisions, with little help to homeowners that are actually in financial distress. It is difficult to believe that the U.S. government is contemplating taking on the bad assets of these institutions at probable taxpayer loss and effectively immunizing the bondholders (and shareholders) of these companies.

While it is certainly in the public interest to avoid the dislocations that would result from a disorderly failure of highly interconnected financial institutions, there are better ways for public funds to accomplish this, other than by protecting corporate bondholders while homeowners remain in distress. …..

http://www.hussmanfunds.com/wmc/wmc080922.htm

[equalizer]

From John P. Hussman, Ph.D., mutual fund manager:

An Open Letter to the U.S. Congress Regarding the Current Financial Crisis

In 2006, the president of the Federal Reserve Bank of St. Louis noted “Everyone knows that a policy of bailouts will increase their number.” This week, Congress is being asked to hastily consider a monstrous bailout plan on a scale nearly equivalent to the existing balance sheet of the Federal Reserve.

As an economist and investment manager, I am concerned that the plan advocated by Treasury is essentially a plan to bail out the bondholders of financial institutions that made bad lending decisions, with little help to homeowners that are actually in financial distress. It is difficult to believe that the U.S. government is contemplating taking on the bad assets of these institutions at probable taxpayer loss and effectively immunizing the bondholders (and shareholders) of these companies.

While it is certainly in the public interest to avoid the dislocations that would result from a disorderly failure of highly interconnected financial institutions, there are better ways for public funds to accomplish this, other than by protecting corporate bondholders while homeowners remain in distress. …..

http://www.hussmanfunds.com/wmc/wmc080922.htm

[equalizer]

From John P. Hussman, Ph.D., mutual fund manager:

An Open Letter to the U.S. Congress Regarding the Current Financial Crisis

In 2006, the president of the Federal Reserve Bank of St. Louis noted “Everyone knows that a policy of bailouts will increase their number.” This week, Congress is being asked to hastily consider a monstrous bailout plan on a scale nearly equivalent to the existing balance sheet of the Federal Reserve.

As an economist and investment manager, I am concerned that the plan advocated by Treasury is essentially a plan to bail out the bondholders of financial institutions that made bad lending decisions, with little help to homeowners that are actually in financial distress. It is difficult to believe that the U.S. government is contemplating taking on the bad assets of these institutions at probable taxpayer loss and effectively immunizing the bondholders (and shareholders) of these companies.

While it is certainly in the public interest to avoid the dislocations that would result from a disorderly failure of highly interconnected financial institutions, there are better ways for public funds to accomplish this, other than by protecting corporate bondholders while homeowners remain in distress. …..

http://www.hussmanfunds.com/wmc/wmc080922.htm

[equalizer]

From John P. Hussman, Ph.D., mutual fund manager:

An Open Letter to the U.S. Congress Regarding the Current Financial Crisis

In 2006, the president of the Federal Reserve Bank of St. Louis noted “Everyone knows that a policy of bailouts will increase their number.” This week, Congress is being asked to hastily consider a monstrous bailout plan on a scale nearly equivalent to the existing balance sheet of the Federal Reserve.

As an economist and investment manager, I am concerned that the plan advocated by Treasury is essentially a plan to bail out the bondholders of financial institutions that made bad lending decisions, with little help to homeowners that are actually in financial distress. It is difficult to believe that the U.S. government is contemplating taking on the bad assets of these institutions at probable taxpayer loss and effectively immunizing the bondholders (and shareholders) of these companies.

While it is certainly in the public interest to avoid the dislocations that would result from a disorderly failure of highly interconnected financial institutions, there are better ways for public funds to accomplish this, other than by protecting corporate bondholders while homeowners remain in distress. …..

http://www.hussmanfunds.com/wmc/wmc080922.htm

[equalizer]

From John P. Hussman, Ph.D., mutual fund manager:

An Open Letter to the U.S. Congress Regarding the Current Financial Crisis

In 2006, the president of the Federal Reserve Bank of St. Louis noted “Everyone knows that a policy of bailouts will increase their number.” This week, Congress is being asked to hastily consider a monstrous bailout plan on a scale nearly equivalent to the existing balance sheet of the Federal Reserve.

As an economist and investment manager, I am concerned that the plan advocated by Treasury is essentially a plan to bail out the bondholders of financial institutions that made bad lending decisions, with little help to homeowners that are actually in financial distress. It is difficult to believe that the U.S. government is contemplating taking on the bad assets of these institutions at probable taxpayer loss and effectively immunizing the bondholders (and shareholders) of these companies.

While it is certainly in the public interest to avoid the dislocations that would result from a disorderly failure of highly interconnected financial institutions, there are better ways for public funds to accomplish this, other than by protecting corporate bondholders while homeowners remain in distress. …..

http://www.hussmanfunds.com/wmc/wmc080922.htm

[Rich Toscano]

FWIW: http://piggington.com/berating_our_fearless_leaders

Rich

[Rich Toscano]

FWIW: http://piggington.com/berating_our_fearless_leaders

Rich

[Rich Toscano]

FWIW: http://piggington.com/berating_our_fearless_leaders

Rich

[Rich Toscano]

FWIW: http://piggington.com/berating_our_fearless_leaders

Rich

[Rich Toscano]

FWIW: http://piggington.com/berating_our_fearless_leaders

Rich

[stockstradr]

I also today emailed both senators and also my representative.

I have contempt for any American who complains about poor government but doesn’t voice their opinion and at least try to motivate change

[stockstradr]

I also today emailed both senators and also my representative.

I have contempt for any American who complains about poor government but doesn’t voice their opinion and at least try to motivate change

[stockstradr]

I also today emailed both senators and also my representative.

I have contempt for any American who complains about poor government but doesn’t voice their opinion and at least try to motivate change

[stockstradr]

I also today emailed both senators and also my representative.

I have contempt for any American who complains about poor government but doesn’t voice their opinion and at least try to motivate change

[Author]

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