Classical Values :: It Wasn't Broke

Power and Control: The Best Congress Fannie Could Buy

OMG!!! Thank you, thank you, thank you!

I have been banging my head in the other thread that the Dems had a huge hand in this crisis and all I've gotten is finger pointing and "Repubs didn't do anything!". THERE! Right in your face. . .the Dems lying through their teeth trying to block any regualation. "There is NO problem at Freddie and Fannie" Like I said, thank you Barney Frank and Christopher Todd! Oh yeah. . .Frank Raines did an OUTSTANDING job! LMFAO!!!!!

"And you will know their names."

Frank
Dodd
Raines
Johnson
Goerlick

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"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

Can I ask what you think should be done now? No fingers pointing, no heads bobbing, no tongues wagging.

We are in a mess here. I understand that you think it is the Democrat's fault. I don't.

But the Titanic has hit the iceberg. The most critical thing facing us isn't moving the deck chairs around. It is how we deal with the larger problem.

Do you have any suggestions?

In all honesty, I think we should do nothing. Nobody is racing in to save small businesses when they fail. If the governmant is really interested in helping people that were convinced, unscrupiously, to take on mortgages that they couldn't afford, then give them some kind of tax credit or rebate. I think that is unfair to people that have already lost their homes though. But as far as bailing out investors. . .hey. . .that was the risk they took. We didn't get to share in their profits, why should we take on their losses? Sorry.

ETA: Plus where does it end with these bailouts? Are we going to be expected to bailout every large corporation that makes risky, bad decisions just because they are big?

__________________
"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

It is not any one groups fault. I do think that people in Congress "generally" have good intentions and think they are helping. But most do not think of different outcomes to ideas that they propose. Most do not have the "training" for figuring out the economic stuff, they tend to rely on banks, etc to provide them with information.
So we end up with "unintended consequences"

I do like Ron Paul's suggest for cleaning up this mess. But, as he says people will not want to do it because it is "strong medince" and it is not "bad enough" yet on the taxpayers.
Please remember that Paul was one of several people that saw this crises coming years ago.


"The way out of this current financial crisis is to return to those timeless principles:
1.) End the Bailouts - The Federal Reserve’s authority to use taxpayer money to bail out Wall Street must be revoked and the Fed must be held accountable.
2.) Stop Congress’ Reckless Spending - We must freeze all non-entitlement spending by the federal government at current levels and eliminate wasteful spending both domestically and in our trillion-dollar overseas budget.
3.) Cut Taxes - If Wall Street can be given your tax dollars, shouldn’t you get some back? It’s time to cut taxes and return your money to you. Combined with spending reform, this will increase the purchasing power of our dollars and help lessen the economic storm.
4.) Reform the Monetary System - If we are to have long-term economic progress, we must end the system of printing money out of thin air. The current laws limiting the circulation of gold and silver-backed currency must be overturned."

Unfortunately I just heard they came to some kind of bailout agreement. There goes our taxes........we don't deserve this.

Not sure where to post this link, or if this has been beaten to death. Things are seeming to run together here lately.

Hot Air Blog Archive McCain’s attempt to fix Fannie Mae, Freddie Mac in 2005; Update: Obama can’t get AIG right

McCain Wrote Letter in May 2006 Signed by 19 Senators to Fix Mortgage Industry The IUSB Vision Weblog

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Doing the right thing isn't always the same as doing the easy thing.