[gandalf]

Interesting, I was thinking about that same “Mission Accomplished” thing the other day, same mistake Bush made with the Iraq War, failure to grasp the underlying nature of the crisis, false declaration of victory, protracted quagmire in the aftermath.

Although in fairness, I’m not sure what I would have done differently. The situation was fairly precarious a couple of years ago, from everything I understand. Here’s my starter list though:

– Guarantee all bank accounts and transactions
– Immediately seize insolvent financial institutions
– Fire management and remove board of directors
– Prosecute fraud where applicable, enforce laws
– Begin restructuring troubled banks for workout
– Break up “Too big to fail” banking institutions
– Implement serious financial regulatory reform
– Workout pricing imbalances in the housing market
– Expedite foreclosures with social assistance

Feedback and critique welcome.

Rich, what would you have done?

Anybody else care to venture into a real economics and policy debate? Imagine you are an economic advisor to the President in early 2009. What would your practical recommendations have been to respond to the banking crisis and housing bubble?

(Avoiding party politics here. No talking points, please.)

[gandalf]

Interesting, I was thinking about that same “Mission Accomplished” thing the other day, same mistake Bush made with the Iraq War, failure to grasp the underlying nature of the crisis, false declaration of victory, protracted quagmire in the aftermath.

Although in fairness, I’m not sure what I would have done differently. The situation was fairly precarious a couple of years ago, from everything I understand. Here’s my starter list though:

– Guarantee all bank accounts and transactions
– Immediately seize insolvent financial institutions
– Fire management and remove board of directors
– Prosecute fraud where applicable, enforce laws
– Begin restructuring troubled banks for workout
– Break up “Too big to fail” banking institutions
– Implement serious financial regulatory reform
– Workout pricing imbalances in the housing market
– Expedite foreclosures with social assistance

Feedback and critique welcome.

Rich, what would you have done?

Anybody else care to venture into a real economics and policy debate? Imagine you are an economic advisor to the President in early 2009. What would your practical recommendations have been to respond to the banking crisis and housing bubble?

(Avoiding party politics here. No talking points, please.)

[gandalf]

Interesting, I was thinking about that same “Mission Accomplished” thing the other day, same mistake Bush made with the Iraq War, failure to grasp the underlying nature of the crisis, false declaration of victory, protracted quagmire in the aftermath.

Although in fairness, I’m not sure what I would have done differently. The situation was fairly precarious a couple of years ago, from everything I understand. Here’s my starter list though:

– Guarantee all bank accounts and transactions
– Immediately seize insolvent financial institutions
– Fire management and remove board of directors
– Prosecute fraud where applicable, enforce laws
– Begin restructuring troubled banks for workout
– Break up “Too big to fail” banking institutions
– Implement serious financial regulatory reform
– Workout pricing imbalances in the housing market
– Expedite foreclosures with social assistance

Feedback and critique welcome.

Rich, what would you have done?

Anybody else care to venture into a real economics and policy debate? Imagine you are an economic advisor to the President in early 2009. What would your practical recommendations have been to respond to the banking crisis and housing bubble?

(Avoiding party politics here. No talking points, please.)

[gandalf]

Interesting, I was thinking about that same “Mission Accomplished” thing the other day, same mistake Bush made with the Iraq War, failure to grasp the underlying nature of the crisis, false declaration of victory, protracted quagmire in the aftermath.

Although in fairness, I’m not sure what I would have done differently. The situation was fairly precarious a couple of years ago, from everything I understand. Here’s my starter list though:

– Guarantee all bank accounts and transactions
– Immediately seize insolvent financial institutions
– Fire management and remove board of directors
– Prosecute fraud where applicable, enforce laws
– Begin restructuring troubled banks for workout
– Break up “Too big to fail” banking institutions
– Implement serious financial regulatory reform
– Workout pricing imbalances in the housing market
– Expedite foreclosures with social assistance

Feedback and critique welcome.

Rich, what would you have done?

Anybody else care to venture into a real economics and policy debate? Imagine you are an economic advisor to the President in early 2009. What would your practical recommendations have been to respond to the banking crisis and housing bubble?

(Avoiding party politics here. No talking points, please.)

[gandalf]

Interesting, I was thinking about that same “Mission Accomplished” thing the other day, same mistake Bush made with the Iraq War, failure to grasp the underlying nature of the crisis, false declaration of victory, protracted quagmire in the aftermath.

Although in fairness, I’m not sure what I would have done differently. The situation was fairly precarious a couple of years ago, from everything I understand. Here’s my starter list though:

– Guarantee all bank accounts and transactions
– Immediately seize insolvent financial institutions
– Fire management and remove board of directors
– Prosecute fraud where applicable, enforce laws
– Begin restructuring troubled banks for workout
– Break up “Too big to fail” banking institutions
– Implement serious financial regulatory reform
– Workout pricing imbalances in the housing market
– Expedite foreclosures with social assistance

Feedback and critique welcome.

Rich, what would you have done?

Anybody else care to venture into a real economics and policy debate? Imagine you are an economic advisor to the President in early 2009. What would your practical recommendations have been to respond to the banking crisis and housing bubble?

(Avoiding party politics here. No talking points, please.)

[gandalf]

That’s hilarious, concho…

[gandalf]

That’s hilarious, concho…

[gandalf]

That’s hilarious, concho…

[gandalf]

That’s hilarious, concho…

[gandalf]

That’s hilarious, concho…

[gandalf]

But that’s actually my point, flu. Tax rates on the upper middle class, definitions of wealthy at $250K, etc. — that’s a trivial matter dollar-wise.

The more important issue involves the big players, large corporations and wealthy individuals with access to sophisticated legal and accounting expertise paying an effective tax rate that is well below what normal middle class people pay on income. It’s disgusting.

I think we should be enforcing effective tax rates on large corporations and wealthy individuals by attacking tax avoidance strategies, shutting down loopholes and rolling up the freeloaders. Put them in jail if necessary.

[gandalf]

But that’s actually my point, flu. Tax rates on the upper middle class, definitions of wealthy at $250K, etc. — that’s a trivial matter dollar-wise.

The more important issue involves the big players, large corporations and wealthy individuals with access to sophisticated legal and accounting expertise paying an effective tax rate that is well below what normal middle class people pay on income. It’s disgusting.

I think we should be enforcing effective tax rates on large corporations and wealthy individuals by attacking tax avoidance strategies, shutting down loopholes and rolling up the freeloaders. Put them in jail if necessary.

[gandalf]

But that’s actually my point, flu. Tax rates on the upper middle class, definitions of wealthy at $250K, etc. — that’s a trivial matter dollar-wise.

The more important issue involves the big players, large corporations and wealthy individuals with access to sophisticated legal and accounting expertise paying an effective tax rate that is well below what normal middle class people pay on income. It’s disgusting.

I think we should be enforcing effective tax rates on large corporations and wealthy individuals by attacking tax avoidance strategies, shutting down loopholes and rolling up the freeloaders. Put them in jail if necessary.

[gandalf]

But that’s actually my point, flu. Tax rates on the upper middle class, definitions of wealthy at $250K, etc. — that’s a trivial matter dollar-wise.

The more important issue involves the big players, large corporations and wealthy individuals with access to sophisticated legal and accounting expertise paying an effective tax rate that is well below what normal middle class people pay on income. It’s disgusting.

I think we should be enforcing effective tax rates on large corporations and wealthy individuals by attacking tax avoidance strategies, shutting down loopholes and rolling up the freeloaders. Put them in jail if necessary.

[gandalf]

But that’s actually my point, flu. Tax rates on the upper middle class, definitions of wealthy at $250K, etc. — that’s a trivial matter dollar-wise.

The more important issue involves the big players, large corporations and wealthy individuals with access to sophisticated legal and accounting expertise paying an effective tax rate that is well below what normal middle class people pay on income. It’s disgusting.

I think we should be enforcing effective tax rates on large corporations and wealthy individuals by attacking tax avoidance strategies, shutting down loopholes and rolling up the freeloaders. Put them in jail if necessary.

[Author]

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