Replies to post #617981 on Zeev's Turnips Patch-No Politics (ZEEV)

[Seminole Red]

isnt this a crock of carp.....they spend our tax money to bail out businesses NOW they want the public to buy BAD ASSETTS

Private investors asked to help with bank rescue

Mar 22 09:13 AM US/Eastern

WASHINGTON (AP) - The Obama administration says it needs help from private investors to deal with a serious banking crisis.
The head of the president's Council of Economic Advisers says that the government needs investors to come in and help buy up bad assets that are weighing on banks' balance sheets and keeping banks from lending to consumers and businesses.

Christina Romer says the administration's new plan will team up with the private sector and the Federal Reserve and the Federal Deposit Insurance Corp. to make a limited amount of government bailout money go farther. The plan could be announced as early as Monday.


Romer spoke on "Fox News Sunday."
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed

[Bruce A Thompson]

Why should there be a subprime industry at all?

Gee, I don't know. Why should a family who once had a past due medical bill during an insurance dispute never be allowed to buy a home?

Why should 10% of the market for your listed for sale home be shunned from the market?

Why not eliminate mortgage loans all together? make those pesky buyers save up the cash to buy the house? Where would they invest the funds while they were saving up the purchase price? In the stock market? I drove by the oldest Chevy dealer in the state last week. He had 22 cars for sale including his used car lot. Many models offered by Chevrolet weren't even there. Did subprimes do that?

Once again, the entire subprime industry didn't add up to a popcorn fart in the whirlwind of this transfer of wealth to the few. It was just the smokescreen and the cover story that worked to misdirect the masses while it was going on. It was easy because, not only, did you believe it, but you are also ready to spend hours on a Sunday morning defending the scam.

I still ask. Why is it that a power company, who just brought a new cross country power line into operation, is not required to write down the value of that line to the value of scrap steel and scrap aluminum?