And those whom have tthe courage to stand against it
The choice is clear.
Posted on 09/27/2008 4:03:55 PM PDT by Tempest
"It's more hype than real risk," said James K. Galbraith, a University of Texas economist and son of the late economic historian John Kenneth Galbraith. "A nasty recession is possible, but the bailout will not cure that. So it's mainly relevant to the financial industry."
Another doubter of the Great Depression theme is Kenneth Rogoff, a Harvard University economics professor, who thinks the intervention may prevent or delay the necessary failure of weak financial institutions.
"It is time to take stock of the crisis and recognize that the financial industry is undergoing fundamental shifts, and is not simply the victim of speculative panic against housing loans," he wrote in a syndicated column. "Certainly better regulation is part of the answer over the longer run, but it is no panacea. Today's financial firm equity and bond holders must bear the main cost, or there is little hope they will behave more responsibly in the future."
(Excerpt) Read more at miamiherald.com ...
And those whom have tthe courage to stand against it
The choice is clear.
Something just doesn't add up.
Check out this thread... please feel free to comment
http://www.freerepublic.com/focus/f-news/2091712/posts
“’It’s more hype than real risk,’ said James K. Galbraith, a University of Texas economist and son of the late economic historian John Kenneth Galbraith.”
Since I agree, I hope he’s brighter than pop.
Read this article as well.....
http://article.nationalreview.com/?q=ZmI5YmJmZTFjYmEzMTJlZGE1YmZhZDc0YWM1MTBiMmM=
McCain should come out against it and let Obama defend the indefensible.
Now you are on to something.
If 80% of Americans do not want this bailout, then why is Obama pulling ahead in the polls?
In time, capitalism + free market will self-correct without intervention.
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I think that’s the point. Galbraith (Sr) was a disciple of the Keynesian School, therefore, assuming that his son has followed in the old man’s footsteps, one would normally imagine that a dyed-in-the-wool Keynesian would support a bailout wholeheartedly. The fact that he does not really strongly supports the notion that the bailout is a fraud. I personally agree with Yardeni, who reflects what I wrote in another thread (not that it was an original idea, mind you), but that the market has already handled the main threat. The fact that the market did not fail on Friday is proof enough that the bailout is not necessary.
Paulson is trying to same his cronies.
Because neither Obama nor McCain have taken a strong position on the issue. And the current econommic issue is being blamed on Bush, people will naturally attach Bush to McCain as opposed to Bush to Obama.
While true, the only unknowns are how long it will take and how painful it will be.
No damn bailout needed. Bush has lost his mind.
Bump to that!
Bush has been touting "homeownership" his entire seven years.
Cuomo's predecessor, Henry Cisneros, did that for the first time in December 1995, taking a cautious approach and moving the GSEs toward a requirement that 42 percent of their mortgages serve low- and moderate-income families. Cuomo raised that number to 50 percent and dramatically hiked GSE mandates to buy mortgages in underserved neighborhoods and for the "very-low-income."
Snip
That June Post story focused its critical reassessment of HUD's affordable-housing goals on the department's 2004 decision—during the Bush re-election campaign—to juice them up again, pushing the target to 56 percent by 2007.
He's trying to save his legacy. Or, he's been duped.
Depends what poll you believe. Rasmussen says 20% favor, Gallup says 80%. It’s all in how you phrase it.
What I have seen, however, is that everyone heels like the public is getting screwed either way.
Paulson is trying to same his cronies.??
Hmmm, let's consider the possibilities:
I give up. Any of the choices work. Which did you mean? All? LOL.
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