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Politics : President Barack Obama
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To: tejek who wrote (45428)11/21/2008 2:18:45 PM
From: Lizzie Tudor  Read Replies (1) of 149317
 
I think Rubin had the clout that could have forced the banks to play ball. Paulson obviously does not have that clout. But its hard to say. My complaint is that the objective of TARP was to get some funds to banks so they could lend. It doesn't really matter whether that liquidity is to buy assets or equity.... the fact that plan a didn't work out and they went to plan b doesn't bug me, in fact that actually shows an ability to adapt so its not bad.... but the simple fact is that banks have the money now and are NOT LENDING. So 350 billion and all we got for it was some shored up banks.... for a little while at least.

So the bank bailout didn't work. Time for plan C... fed allows refi of all consumer mortgages at 2-3% thats my plan. Its the only thing I think will actually help.
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