Comments on: Forget the Bailout: Here's a Better Way

By: Is the Panic Overblown? at Emac’s Stock Watch | Fox Business

Is the Panic Overblown? at Emac’s Stock Watch | Fox Business — Wed, 08 Oct 2008 13:32:28 +0000

[...] In an earlier blog, I noted an idea from R. Glenn Hubbard, former chairman of the President’s Council on Economic Advisers under President George W. Bush and Chris Mayer, an economics professor at Columbia Business School. Their plan aims to directly put a floor under housing-and in turn distressed mortgage securities at the white-hot core of the crisis–by bailing out borrowers (see “Forget the Bailout: Here’s a Better Way“). [...]

By: Bob Meyer

Bob Meyer — Sun, 05 Oct 2008 23:43:40 +0000

I never cease to be amazed at the number of experts who are so much smarter than the market. Not one of them said “Drop Sarbanes-Oxley, stop guaranteeing mortgages, get rid of Fannie Mae and Freddie Mac and let business do what it does best – move assets into the most productive areas”.

If the experts were so smart they should be making money out of this mess right now without having to get Hank Paulson to rig the markets in their favor. The uncertainty produced by these ridiculously “porked” proposals is scaring everyone into not lending money. You never know what the government is going to do next.

Last week they sent in the FBI to find criminal bankers, and you can be sure that they will find them. The subsequent witch trials will have the defendants charged with casting spells over borrowers to break their wills and make them buy houses they couldn’t afford.

I’m not saying there was no fraud involved with some loans, but often the victim is all too eager to co-operate. There’s an old saying among con-men – “You can’t cheat an honest man” that expresses this very well. The really crooked loan brokers have already fled, there’s no more money to be made. All that will be left are the honest men trying to salvage their banks. The FBI won’t care. There’s been a crime and we need to publicly punish someone!

If you doubt this then try to find out what crime Michael Milken actually committed.

Imagine that you are going to see your banker and you find armed FBI agents seizing his records. Guilty or not, your banker’s career and possibly the bank itself are finished. One or two arrests on TV and there will be bank runs just like your grandfather told you about.

Then Henry Paulson will to on TV and decry the “lack of confidence” in American banks (of course arresting bankers on TV had nothing to do with this) and declare that with only a few trillion dollars more he can fix it!

By: joseph

joseph — Sun, 05 Oct 2008 10:14:19 +0000

If you really look at what has happened as a fact look at yourself for example. We owe more to the banks then ever. In short the banks own everything.

By: Don Graden

Don Graden — Fri, 03 Oct 2008 18:34:01 +0000

After hearing last night’s debates, I’m a small business owner and I can only pay so much taxes before I will have to close the doors. I pay right now inventory tax to my city, county taxes, state taxes, and gov taxes, payroll taxes, and after hearing what the dem’s are wanting taxes for anyone over $ 250,000,00. Now i’m a very small business, $ 250,000,00 is not a lot of money in one year,how ever I pay alot of this back in taxes, this will leave me with what, more taxes to pay. I do not think I can pay anymore before I place a white flag over the door and a sign that will read It’s all your’s Obama. Do you think that back in the day, we as usa citizens would let this happen, the answer would be no. Has the house of representatives ever heard of the boston tea party? When do you think the Gov will come over to the peoples side, so far it is still a dark hole we are looking through. Only time will tell.

By: DT

DT — Fri, 03 Oct 2008 18:10:45 +0000

IT PAYS TO STEAL BIG!
Today our corrupt, bought and paid for politicians, rewarded crooks on wall street for stealing and actually losing money doing it. Our politicans decided it would be in our best interests to give our taxpayer dollars to make up for their losses. Did I hear any politican say they would be giving back the tens of millions they got as contributions from these crooks? I didn’t think so.

Let this be a lesson to young people, if you want to be a crook, be a big one. Small theft will surely land you in jail. But, steal big enough and pay off enough politicans and you can walk.

Next up is to see politicans and wall streeters teaching college courses and writing books on the steps to take to steal trillions and get away with it. Yea baby I can see the infomertials now with politicans and wall streeters having the whole system on dvd for sale at $249, but if you act now, $199.