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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: geode00 who wrote (52529)	3/24/2009 4:14:19 PM
From: Skywatcher	Respond to of 149317

Sherman is A SHARP COOKIE...he should be in charge of a LOT more about the economy

To: geode00 who wrote (52529)	3/24/2009 5:37:56 PM
From: koan	Respond to of 149317

The thesis that has to be junked, is that what is good for GM (wall street) is not necessarily good for the country!! >>I think what Krugman noted was that the market has priced these assets and the price was far lower than the price the banks wanted to sell them for. The hope is that the government financing and risk reduction will raise the price sufficiently to make it palatable for the banks to sell."' Krugman said, I think, there was only a 15% loss allowance and then mainstreet picks up the tab. I htink he thinks it is closer to 70%. My problem with it, besides Krugman and Galbraiths feeling it is the wrong theory, is that the way it is set up will make the banks be even harder on the needy people. Right now the banks are making a fortune refinancing the "best borrowers" in the country. Those folks did not need any help at all!! The equation treasury is using does nothing for the common man or the economy per se, but just gives wall street ANOTHER windfall!