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

To: i-node who wrote (419973)	9/25/2008 5:42:44 PM
From: bentway	Respond to of 1572712

You and Ted are on the SAME SIDE of the bailout issue! Not me pal.

To: i-node who wrote (419973)	9/25/2008 5:46:03 PM
From: bentway	Respond to of 1572712

House GOP unveils alternative rescue plan By Patrick Yoest, Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- House Republicans remain reluctant to throw their support behind a $700 billion asset-buyout plan, presenting an alternative plan Thursday afternoon that would allow banks to purchase insurance for mortgage- based assets. A House GOP working group organized by House Minority Leader John Boehner, R- Ohio, presented the plan, which would create a new entity that Rep. Eric Cantor, R-Va., compared to Ginnie Mae. "We charge them the premiums, they finance the insurance, and they unclog the system and Wall Street bails itself out," said Rep. Paul Ryan, R-Wis., the top Republican on the House Budget Committee and a member of the working group. The plan, which comes as House and Senate leadership and committee chairs are far into negotiations on the asset-buyout plan, signals widespread concerns among House Republicans about the political implications of appearing to endorse what many voters consider a Wall Street bailout.

To: i-node who wrote (419973)	9/25/2008 6:12:27 PM
From: TimF	Read Replies (2) \| Respond to of 1572712

It may be that we are probably do for a recession, and likely not a very mild one. The bailouts may delay this, perhaps quite a bit so it seems like avoiding the issue, but I think in the long run they make things worse. Maybe certain specific strategic interventions could be beneficial, but that doesn't mean a hundreds of billions or a trillion dollars is a good idea. Also I'm not so sure that the government is particularly likely to be so careful and well targeted with any money it does use to intervene. It may be better just to take the hit and get it over with. Go in to a recession, we've lived through them before, and we will again, and have the mess over, or at least mostly over.