The free market always has a better solution! Fannie and Freddie are corrupt to the foundation. See VideoExplosive Video, Fannie Mae CEO calling Obama and the Dems the "Family" and "Conscience" of Fannie Mae http://www.youtube.com/watch?v=usvG-s_Ssb0
This is not a bad solution and I don't mind a temporary halt to the capitol gains tax. The more coverage I watch on the bailout, the more I realize why we are in this mess, no one can agree on what to do. Everyone has his or her own idea and they all admit that they may not work in the long haul.
I know people like to blame this whole mess on Fannie Mae and Freddie Mac, but much of the trouble we are having now is due to inflated property values and the rush to capitalize on ARM's and other trick mortgages by debt-ridden consumers who wanted to buy bigger houses. It's just like with automobiles, people want the big SUV's and pickups rather than the small, gas efficient models. Homeowners wanted bigger houses and were willing to gamble on the housing market continuing to go up to get them. Now, the housing bubble has burst and, again with the car comparison, people are "upside down" in their mortgages. They owe more money than their property is now worth.
Back to the bailout, this plan you linked to should be able to work because it will do what most experts agree needs to be done, put capitol back into the markets and make money available for companies and consumers to borrow. Credit is harder to come by now, but it cannot go back to being as easy to get at it was before the crisis started.
Let's hope our so-called leaders buy into this plan.
I agree too many plans now and we need some people to come together....like in the case of Pickens and Drill here Drill now.....which give us more of an all the above solution....PLANS need to combine whaere they can agree in order to have effective support......However, Congress paid not one bit of attention to 76% of Americans for drill here drill now, they laughed in our face and prohibited us from touching our own resources within a 50 mile radius from our OWN shores....freaking Pelosi
True, but as much as I don't like Pelosi, Congress paid no attention to us when the Republicans controlled the houses too. Until we can take control away from the lobbyists and PAC's, we will continue to be ignored.
I agree....the republicans lied through their teeth, they are paying or it as are we with them.....but the Democrats are flat out saying out loud and up front we are as corrupt as evil itself and wait until we control the executive office as well as congress and everybody large and small is gonna pay, and pay w already are just with a dem congress......EARmarks and Special interest is gotta be out on their ears...right or left wing
I think the fix that Congress is working on now is the best because it will return some money to the credit markets
which the businesses need now. It really is not a bailout nor will it cost us in the sense that the government will
"own" the properties in question--then they can renegotiate the loans at very low or even 0% which will allow folks
to keep their homes and will restore confidence to the markets. Property values will rise.
These little problems crop up sometimes in a captitalist system. It is how we deal with things like this that really
I believe the PickensPlan is a good solution to the problems we are seeing in the economy. We know we want good
clean domestic energy we can depend on now. Natural gas and wind and eventually a vast solar array will provide
the energy we need and will rely upon.
But we need real investment to achieve this goal. Tax credits and other kinds of subsidies will not get us there and
will clog the system.
That is why I advocate the FairTax which is a national sales tax that will completely repeal and replace the income tax
and capital gains taxes. People will keep their whole paycheck. We will then be able to pay off debts..cover higher
energy bills...and invest in the PickensPlan or like systems that will free us of foreign reliance on energy.
The FairTax has will help us re-capitalize our money system as well. It is not the only thing we need. We need
various kinds of regulation to ensure our money and investments are safe. Sometimes it is just a matter of
seeing that Congress and other agencies use the regulations which are in place.
We need the PickensPlan and we need the economic infrastructure to build it too. The FairTax and PickensPlan
My plan is simple: Knock, knock...Did you know your mortage is owned by the nation of Russia-it could be China, Sadies... ? How much do we need to pay you to move into the home owned by BOA next door? Ok here is your $25000, sign here, move now....