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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (361992)	12/9/2007 3:51:04 PM
From: TigerPaw	Read Replies (2) \| Respond to of 1573429

It's an attempt by Bush to prop up the economy It reminds me of Nixon's wage-and-price freeze. Just an attempt to treat the symptoms while pretending the problems don't exist. TP

To: bentway who wrote (361992)	12/9/2007 11:25:33 PM
From: tejek	Respond to of 1573429

Oddly, Ten and I seem to agree on this mortgage bailout thing. It's an attempt by Bush to prop up the economy and jawbone a problem down for political reasons, without really doing anything. Attempts to manipulate the economy exacerbate problems, they don't solve them. Read the Huffpost article I posted from a former bond trader. I don't care why Bush is doing it. Every president tries to keep the economy going during presidential election years. Why should Bush be any different? What I am concerned about are the 2 million homeowners who are in jeopardy first and the economy second. By a fluke, most of the 2 million homeowners had their first chance to own a home. Granted these loans came their way by dishonest mort. brokers.......nonetheless, its happened. So why don't we keep them in their houses? Owning your own property is a significant way in improving your economic status. As for Paulsen being a former GS monetary God, he may have been one of the ones lacing those MBS's, CDO's, and SIV's with little stinky, poison subprime mortgages when he was at GS. GS is one of the best run firms on Wall Street. I doubt Paulson is a crook. Even if he were, his plan makes sense. AG Cuomo in New York is beginning to investigate this. It's kind of odd that GS, who also sold these products, has somehow avoided any of the fallout so far. They didn't own any....they thought it was crap and stayed away from them. As for Cuomo, his investigation will result in more legal tightening of the mortgage industry.....which is probably a good thing.