Sunday, September 21, 2008
I am still sitting here with my Cement Head and my jug of Tea and the Cold that will not leave. I will be in and out and as today is Cleaning Day....but I did gather up some reading to share, there are Posts and links to the Bailout, and a smidge on IKE,Plenty on the McCoot's Brain wanderings (cough, don't make me laugh)... HIS "Solutions".... and scroll down and watch the OBAMA video from yesterday ( on Saturday post)....I will be back later.
In the Meantime I have been pondering, did the Great Depression have a Soundtrack ? We need one...
Annie Lennox and David Bowie " Under Pressure".....( last Night it was Dream On...)
So the battles continue, should the Executives get their pay, should Paulson have free reign over the program? Should Homeowners get ANY relief or being bailed ? ( you can guess how this is happening)..... Read More in this Bloomberg Article...Obama Points out that The Plan MUST Help Homeowners and provide some action on their behalf. If you read the Huffpost Bail Out Article, you can see where Paulson stands on WHO is being bailed.
More From the Huffpost Article:
"Sen. Richard Shelby of Alabama, the top Republican on the Senate Banking Committee, said that what Congress was being asked to approve was the "mother of all bailouts" which Shelby said would end up costing more like $1 trillion rather than $700 billion when the costs of the government taking over mortgage giants Fannie Mae and Freddie Mac and insurance giant American International Group Inc. were added.
Democrats said they understood the need for urgency but insisted that the measure needed to provide help for homeowners threatened with losing their homes, perhaps by changes in bankruptcy laws to allow for mortgages to be modified, and by capping pay and benefit packages for executives at the huge Wall Street firms that will be selling their bad debt to the government.
"I don't want the American taxpayer to get this bad debt and then the guy (whose company once held the bad loans) gets millions of dollars on his way out the door," said House Financial Services Chairman Barney Frank, D-Mass."
HOW GOOD is the FED at MIsusing ( Losing ) OUR Money read this Think Progress List, from Iraq to Katrina it is a LONG list.
McCain and Obama are both on 60 Minutes tonight...really interesting...
Here is the Video of Obama's Plan for the Economy....really important points..He remembers Mainstreet..and WHO is hurting, all of us...
Goldman Sachs and Morgan Stanley to become banks is this going to help the situation and what is going to happen to WaMU ?