Economist Dean Baker on the Bailout Panic - PHD says bankers have a gun to their head and say they will pull the trigger

[paperhouse]

Originally Posted by InformedConsent

Baker almost got it right. It's foreign investors and governments, too. The foreign investors/governments problem is why Paulson is so panicked.

Lengthy explanation here:
//www.city-data.com/forum/5523738-post32.html

My cookies show all those links have already been read. Thanks for consolidating it into one place. Great job. Sorry i can't rep you again.

[BRinSM]

I totally agree with Baker. We keep getting fed the line "we need this bailout 'or else'", but no one else is telling us what the 'or else' actually is. I've been waiting and waiting and keep hearing about depressions and catastrophes, but no specifics. this whole thing is a total joke and i'm actually getting sick to my stomach thinking about how this nonsense is going to pass through the house today.

[WillysB]

Congress has failed. Completely. A Congressman says, 'this is the worst I have seen in my career'. I wonder, what has he been doing in that career. This bail for the economy is the SUM TOTAL of Congress's actions. This is what they have done for us.

Goodbye Congressman. Goodbye Senator. Don't come home, you're a disgrace.

Vote Libertarian

[freefall]

Originally Posted by lobodog

To: freefall
Ref: Ok, let the taxpayer... Good Point!
Could we add? The Government prints the money and lends at low rates, directly to qualified borrows. Cut the insolvent banks out altogether! Only competent banks with a solid history would be allowed to take part in this new program, and then only as a loan distributor, with strict rules applied and enforced. Banks in effect become a public service run by well-paid honest professionals.

I guess that would be too much like the right thing to do.