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 A Little Sanity?

InfiniteWarrior
post Oct 10 2008, 09:57 PM
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Big difference between 18.2 and 852, but --> and -->.

Anyone seen what the final version entails?

<-- Avoiding the news until Nov 5.
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InfiniteWarrior
post Oct 11 2008, 06:07 PM
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Original:

QUOTE
"[T]his historically unprecedented bailout was one that subsidised finance, underwrote losses generated by market forces, and left most others directly or indirectly affected by the excesses of the mortgage-lending boom untouched."

-->


No kidding. Most everyone agrees something had to be done, but the following seems to answer the previous question:

QUOTE
Though the law passed Friday was much modified from the original bill presented by Treasury Secretary Henry Paulson, the crux of his proposal remained: The government would be authorized to use $700 billion to buy mortgage-backed securities from financial firms.

-->


dry.gif Some oversight included, at least. -->

Finally:

QUOTE
“Americans should . . . expect that it will take some time for this legislation to have its full impact on our economy.... Exercising the authorities in this bill in a responsible way will require a careful analysis and deliberation."

-->


Thinking the careful analysis and deliberation should have come first. (And a long time ago.) sad.gif

The general consensus on Capitol Hill is apparently, "I hope it works". The really good news is that none of the experts seem to think it has a snowball's chance of doing so. Only question remaining: who to trust next year to handle the "authorities" written into it?

Almost too tempting....
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JayBaen
post Oct 12 2008, 07:02 AM
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QUOTE
“Americans should . . . expect that it will take some time for this legislation to have its full impact on our economy....

... which would have been the same answer had everyone left it alone and done nothing. Nice that we get to have exactly the same expectations regardless of the actions taken, no? Someone should be expected to have a timeline showing how that timeline shifts because we've chosen to seed the cash.

Obviously, I don't have the answer - but - should we be all for Capitalism when times are good, and for Nationalism/Socialism when it's bad? (I've got similar opinions when it comes to freedoms, a bit of an "all-or-nothing" approach). I think, if the government is going to own the system - then it should (needs to be) regulated, if they aren't - then hands off, even when it's going to hell in a handbag. But, alas - that's not where we are.

It's probably that it's been more incestuous than we've all realized ...

JB


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"There's nothing in this universe that can't be explained. Eventually." -- House, M.D.
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InfiniteWarrior
post Oct 12 2008, 12:56 PM
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QUOTE
Obviously, I don't have the answer


From what I've been able to ascertain, no one does. Not even the experts. Isn't that comforting?

QUOTE
Someone should be expected to have a timeline showing how that timeline shifts because we've chosen to seed the cash.


I'd like to see that, too. The one in my head is still screaming, "Wrong trajectory!" Some are calling this a "band-aid". Seems more like salt poured on the wound to me.

QUOTE
should we be all for Capitalism when times are good, and for Nationalism/Socialism when it's bad?


Predominately two-party system; both predominately polarized; and every "choice" presented, a false dichotomy. The natural course would seem to me one of transformation, but transformation either got stuck in a quagmire 30 years ago or sped headlong out of control instead. Haven't decided which.

Favorite Obama ad so far: "Neither extreme will work." Because, indeed, "that's not where we are".

QUOTE
I think, if the government is going to own the system - then it should (needs to be) regulated, if they aren't - then hands off


Agreed. I don't think we're alone, either. I'd be willing to bet We, the People are all agreed on that much (deep down), whether we all realize it or not.
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InfiniteWarrior
post Oct 12 2008, 02:37 PM
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QUOTE
transformation either got stuck in a quagmire 30 years ago or sped headlong out of control instead. Haven't decided which.


Ah, jeez. What am I saying? It's always a little of both! Uh, well... in my world anyway. unsure.gif
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