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

To: i-node who wrote (420045)	9/25/2008 7:27:41 PM
From: TimF	Respond to of 1572507

Well there certainly are people with a lot of relevant knowledge who think things are much worse than I think they are. I hardly put myself forward as some perfect authority who can't be wrong, but... Just think about how many times people, including real experts, predict all sorts of disasters that never happen. Obviously there are some real problems, but the problems look a lot more like Japan before its period of stagnation than they look like the great depression. Now Japan's stagnation was really bad too, so it would be worth paying A LOT to avoid it, but one of the big problems in Japan was that there was bailouts rather then letting failures and harsh restructuring occur. And then when things finally did go down and then stagnate, the methods to combat the problem where only easy money (which might have helped if it could have been timed right, but which was "pushing on a string" by then) and public works projects, rather than a an attempt by the private sector to seriously restructure, combined with the public sector finding ways to reduce the barriers and costs it imposes on investment and business activity.

To: i-node who wrote (420045)	9/26/2008 12:32:34 AM
From: bentway	Read Replies (1) \| Respond to of 1572507

Did McCain's returning to Washington and suspending his campaign cause the bailout to FALL APART? Bailout Deal Fades After Tense White House Meeting newser.com Posted 5 hours, 22 minutes ago in Business (Newser) – The bailout deal that seemed within reach this afternoon appears to have veered off course. Today's White House meeting turned unexpectedly contentious and broke up without any sign of agreement, the Washington Post reports. One participant, Sen. Chris Dodd, blamed John McCain and Republicans for floating a new plan out of the blue. "What this looked like to me was a rescue plan for John McCain," Dodd said. Meanwhile, Henry Paulson and Ben Bernanke headed back to Capitol Hill tonight for more negotiating. Both McCain and Obama said in interviews afterward that they were confident of an eventual deal. Obama said "something happened in the intervening hours" between a hopeful Capitol Hill meeting and the White House gathering. GOP Sen. Richard Shelby said after the latter meeting that "we will not have a deal." He called attention to a letter from economists expressing worries about fundamental principles of the current plan. "I'm probably not welcome again," he added.