what's the actual problem? When you strip off the rhetoric and conventional wisdom, it seems to me that the root of the problem is that people do not have money to spend, which has sent the economy into a cashflow crisis. Seems to me that people are defaulting on their mortgages because they can't keep the payments up. Does that sound right to you?
On Thu, Sep 25, 2008 at 11:47 AM, Judah McAuley <[EMAIL PROTECTED]> wrote: > Money quote from the Treasury in Forbes: > "It's not based on any particular data point," a Treasury spokeswoman told > Forbes.com Tuesday. "We just wanted to choose a really large number." > > http://www.forbes.com/home/2008/09/23/bailout-paulson-congress-biz-beltway-cx_jz_bw_0923bailout.html > > This is a scary situation and I was marginally in favor of a bailout when it > was first announced. Things have been headed south a long time and I knew > that something would have to be done. Since the announcement though I've > seen nothing that shows me that the proposed bailout will work and > everything seems to be predicated on a model of "give us lots of money and > authority and we'll fix everything". Given the admin's track record in > disasters (political, military, natural and otherwise) I just can't see it > being wise to give them what they ask for. But what would really work? > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/CF-Community/message.cfm/messageid:270865 Subscription: http://www.houseoffusion.com/groups/CF-Community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
