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Originally Posted by dalakhani
I know what you are saying. But...how do you "put new money into the market"? Where does that money go? How would you propose to do it? And the last question isnt facetious(sp?). I want to know how anyone else would fix this.
Regadless of what any one of us wants to admit, our economy is based on credit pure and simple. It rolls when credit is cheap and easy and it gets really slow (like now) when it tightens up.
Something has to be done to fix the locked up credit markets. Injecting massive amounts of cash hasnt worked. Lowering fed funds rates hasnt worked. What else can the govt do at this point?
And remember, the govt isnt spending 700 billion dollars.
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I don't want the people who made these decisions to be given new money. In no way can we give new money to these rats who made bad loans (in order to make quick interest off of people who couldn't afford to get these loans.)If we put new money in, we need to make sure it's for new loans, and those loans need to be well secured, and it needs to be regulated. We did it the way the free market capitalists wanted, and they fkd it up, and all want to be bailed out now. I totally disagree with you about this not being a bail-out. They made loans they shouldn't have made. Now they want help to overcome those mistakes. That's a bail out. I don't think we should do it. If we do it, then don't let these same people in charge of money loaning. Don't give them new money to loan. I wouldn't trust either Bush or Paulson . Paulson was making 40 million a year off this industry, and now you get him to be in charge of a solution? He is gunna want to bail his crooked friends out. Have some sort of program, but don't let any of these crooks draw it up. Yes, these 2 have been lying all year, and now they come clean. F BUSH, F PAULSON(liar scum.) I can't believe he came in front of the country and told us it's so messed up. How do you do that after denying it all year?