One more money grab before this tribe of bandits gets thrown out of town.
This is the same bunch who brought us the mess, who systematically undid all kinds of measures that would have brought problems to their attention, who ignored all protestations that it was coming, who fed their executives outrageous salaries for lousy performance, and who natter on about "personal responsibility anytime a poor person needs assistance? And they want us to hand them HOW MUCH more money with no strings attached???
Why aren't these clowns being laughed out of town???
Helluva way to saddle the next administration with cleanup. But seriously,
--I was listening to one commentator today say not ALL the mortgages in these toxic securities are bad. Even though nobody knows for sure how much is really bad, freezing foreclosures would stop a downward spiral. Creating incentives for SOMEONE, not only bankruptcy judges to renegotiate unreasonable terms would stabilize the real estate market and protect a lot of people (well maybe not real estate vultures, so sorry) --I think this kind of write-down could be done in a way that sends a clear message that there is a lot of value and that investors who hang tough will get more of their money than if they all panic.
But what do I know? Well, to think a few years back I applied for a data job at a local thrift and did not have enough experience in the shenanigans that have clobbered their stock value of late. Sigh.
DC
On Tue, Sep 23, 2008 at 4:43 PM, Bill O'Connor <billyoc at gmail.com> wrote:
> Doug Henwood <dhenwood at panix.com> writes:
>
> > <http://pewresearch.org/pubs/963/wall-street-bailout-approval>
> >
> > <http://pewresearch.org/pubs/963/wall-street-bailout-approval>
> >
>
> I just this moment saw a Rasmussen poll saying the public was 44%
> against and 25% for the bailout.
>
>
> http://www.rasmussenreports.com/public_content/business/general_business/opposition_to_bailout_plan_grows_but_still_expected_to_pass
> ___________________________________
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>