Comments on: Congress Must Act - Pass It Today http://moorethoughts.com/2008/10/01/congress-must-act-pass-it-today/ Conservatism, Freedom, Capitalism Wed, 07 Jan 2009 08:24:25 +0000 http://wordpress.org/?v=2.6 By: Rick http://moorethoughts.com/2008/10/01/congress-must-act-pass-it-today/#comment-253708 Rick Thu, 02 Oct 2008 12:52:52 +0000 http://moorethoughts.com/?p=4365#comment-253708 I think this is more for Wall St. There is a program already in force that was passed this summer for $300 BILLION to take the pressure off forclosures. Article in the Washington Post tells about it. The Gov. has never done anything FAST that I remember working out for the good of the citizens, can't remember many things done slow that seemed to be in the citizens best interest, over the politians interest, either. How much mortgage help is enough? Is there no personal responsibility left? Is this economy problem, that many say is worldwide, going to be the reason someone uses too call for a world currency, or a new world economy council for control of the world economy, so indiviual countries cannot mess it up? Where are we going with this? Look at the reponse of the Russian stock market, it lost 50% of it's value the other day, per the news info. It's all connected in someway, one country can't start a war without wrecking their own economy. Everyone cries at the loss of 700 points on the stock market, not many mention that it came up 500 the next day. I've seen the market lose 200 pts. over a 2 day period before, no "sky is falling" then. Giving a mortgage to someone without the ability to repay is simply bad politics and bad business, just like giving a driver's lic. to a 3 year old is stupid. If we survived the Carter years of 16-18% interest, hours at the gas station, with prices higher than today, indexed to inflation, we will probably survive this one to. The auto industry should have re-tooled decades ago, now the taxpayer pays for that. There is probably no end as long as the politians know that thsy can simply buy votes by throwing money at them, and we simply let them do it. Hard to figure how we even got this far, isn't it. Just don't force me to cancel cable, or my Starbucks stop in the morning, the Gov just has to subsidize that for me, those must be some kind of "unalienable right" or something. I think this is more for Wall St.
There is a program already in force that was passed this summer for $300 BILLION to take the pressure off forclosures. Article in the Washington Post tells about it.

The Gov. has never done anything FAST that I remember working out for the good of the citizens, can’t remember many things done slow that seemed to be in the citizens best interest, over the politians interest, either.

How much mortgage help is enough? Is there no personal responsibility left?

Is this economy problem, that many say is worldwide, going to be the reason someone uses too call for a world currency, or a new world economy council for control of the world economy, so indiviual countries cannot mess it up? Where are we going with this? Look at the reponse of the Russian stock market, it lost 50% of it’s value the other day, per the news info. It’s all connected in someway, one country can’t start a war without wrecking their own economy.
Everyone cries at the loss of 700 points on the stock market, not many mention that it came up 500 the next day. I’ve seen the market lose 200 pts. over a 2 day period before, no “sky is falling” then.

Giving a mortgage to someone without the ability to repay is simply bad politics and bad business, just like giving a driver’s lic. to a 3 year old is stupid.

If we survived the Carter years of 16-18% interest, hours at the gas station, with prices higher than today, indexed to inflation, we will probably survive this one to.
The auto industry should have re-tooled decades ago, now the taxpayer pays for that. There is probably no end as long as the politians know that thsy can simply buy votes by throwing money at them, and we simply let them do it. Hard to figure how we even got this far, isn’t it.

Just don’t force me to cancel cable, or my Starbucks stop in the morning, the Gov just has to subsidize that for me, those must be some kind of “unalienable right” or something.

]]> By: Emmett Flatus http://moorethoughts.com/2008/10/01/congress-must-act-pass-it-today/#comment-253700 Emmett Flatus Wed, 01 Oct 2008 18:50:51 +0000 http://moorethoughts.com/?p=4365#comment-253700 Sarbanes-Oxley was one of the components of the last rush to judgement. Now you are looking at the shambles resulting from the required mark to market S-O requires. And they even debated S-O for a while. We have no idea how many gotchas are hidden in this 450 page bill. The experts predicted complete meltdown if the 3-page coronation of Hank Paulsen was not approved. It didn't happen and won't happen if the pols step back and think about this some more. I would rather get it right up front rather than trying to fix it later. Sarbanes-Oxley was one of the components of the last rush to judgement. Now you are looking at the shambles resulting from the required mark to market S-O requires. And they even debated S-O for a while.

We have no idea how many gotchas are hidden in this 450 page bill.

The experts predicted complete meltdown if the 3-page coronation of Hank Paulsen was not approved. It didn’t happen and won’t happen if the pols step back and think about this some more.

I would rather get it right up front rather than trying to fix it later.

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