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

To: koan who wrote (82379)	9/9/2010 9:26:14 PM
From: Wharf Rat	Respond to of 149317

I'm nobody's fan. I don't partake in the cult of personalities like you do. The next member of the administration you express approval for will be the first.

To: koan who wrote (82379)	9/9/2010 11:18:51 PM
From: tejek	Respond to of 149317

He isn't. He said it two days ago on this very thread. Why do you have to like every person Obama appoints?

To: koan who wrote (82379)	9/10/2010 12:53:08 AM
From: tejek	Read Replies (1) \| Respond to of 149317

This guy Stiglitz is saying that the gov't is screwing up by keeping interest rates low; that its causing too much money to go into real estate rather than in tech. or clean energy. Now you are in real estate. How is this guy making any sense? Anyone in real estate right now knows that sales are very low by historical standards and that its harder than hell to get a loan from a bank. So what is this guy talking about and more importantly, why do you see him as an authority? Dear US, You're Making the Mortgage Mess Worse Stop meddling and the let the private sector take over Newser) – Joseph Stiglitz lends his Nobel clout to the notion that the government is doing more harm than good by over-managing the housing crisis. "Government policies to support the housing market not only have failed to fix the problem, but are prolonging the deleveraging process and creating the conditions for Japanese-style malaise," he writes in the Guardian. With the government managing the mortgage markets, we get "distorted interest rates" and "official guarantees" that "encourage continued investment in real estate, when what the economy needs is investment in, say, technology and clean energy." Enough already. "What is needed is a quick write-down of the value of the mortgages. Banks will have to recognize the losses and, if necessary, find the additional capital to meet reserve requirements." Click here for a similar sentiment. newser.com