Will Allowing Banks to Fail Reduce Foreclosure Homes? »
Posted By altnrg 9 months, 3 weeks ago in NewsThe suggestion of Republican Senators Richard Shelby of Alabama and John McCain of Arizona to let go of big financial institutions is seen as a way to reduce the number of foreclosure homes in the country.
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nostalgia9 months, 3 weeks ago
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FTA:
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A bank rescue program unveiled by Treasury Secretary Timothy Geithner includes a plan to generate about $1 trillion in new consumer lending and to eliminate up to $1 trillion of banks’ bad assets.
On the other hand, some industry experts questioned Shelby and McCain’s suggestion to allow banks to live out their existence. They pointed out that the suggestion runs contrary to the goal of the government after it provided almost $90 billion in financial rescue funds and loan guarantees.
We already spent $90 billion and it didn't solve the problem so now spend $2 trillion?
That is nonsense!
Let the big banks file for bankruptcy and funnel the money into stable banks who made good business decisions -
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jaern9 months, 3 weeks ago
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Shelby is an a$$hole. He wants the US auto industry to go bankrupt too. He doesn't care- he has Honda, Toyota and Hyundai in his state. It would help boost their sales if GM, Ford, and Chrysler went belly up.
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McCain showed his true colors during the election campaign. I guess I'd feel better about this idea if it were presented by anyone else but these two boobs.-
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wtagg9 months, 3 weeks ago
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The problem with the bailout is that it fails to allow the market checks and balanced to work. Bailout rewards failure.
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Are we continuing to pour money into a crappy 88 (enter the vehicle of your choice here) with 300,000 miles on it? Sometimes, the junkyard is the sensible answer.
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FrankHummel9 months, 3 weeks ago
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Folks who would participate in ANY sort of economic / political discussion these days about the subject of “Economic Recovery" really need to be generally aware of a number of basic realities regarding ALTERNATIVE ENERGY matters --- which SURELY enter into any comprehensive (or even casual!) discussion of that subject. I submit that all the “political” and “economic” blather notwithstanding, we will not ACTUALLY begin to see the end of this recession / depression unless and until A WHOLE NEW TECHNOLOGY begins to ACTUALLY emerge and TO BE TAKEN SERIOUSLY by ALL of us in general --- in a national-priority initiative comparable to THE SPACE PROGRAM OF THE 1960S --- and the now-shrinking industrial sector actually EMBRACES it and begins to re-tool all those plants that are now being shuttered and starts to ACTUALLY BUILD products that GENUINELY IMPLEMENT concepts that will ACTUALLY IGNITE a "GREEN-COLLAR ECONOMIC REVOLUTION".
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