tag:blogger.com,1999:blog-4900303239154048192.post4378913956612028087..comments2024-03-06T06:34:42.881-05:00Comments on EconoSpeak: Was last September's bailout dishonest?Unknownnoreply@blogger.comBlogger4125tag:blogger.com,1999:blog-4900303239154048192.post-42019896904197258842009-02-05T18:06:00.000-05:002009-02-05T18:06:00.000-05:00Well, BJ: If the bankruptcy code was set back to ...Well, BJ: If the bankruptcy code was set back to the way it was in 1978 I would agree with you. If people could simply walk away from the houses and have the debts truly forgiven (the lender eat it) then that would work. But the Republicans concocted this trap very, very well. Bankruptcy isn't an option and the IRS will come after you for the $100k imputed gain you receive by walking away from the mortgage.TheTruckerhttps://www.blogger.com/profile/10346127768102862741noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-13741385582535658122009-02-05T14:25:00.000-05:002009-02-05T14:25:00.000-05:00In my humble opinion the bailout was a complete WA...In my humble opinion the bailout was a complete WASTE! The markets need to be allowed to work themselves out.Brian Jefferieshttps://www.blogger.com/profile/00174160798227381650noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-67723178288796841482009-02-05T14:02:00.000-05:002009-02-05T14:02:00.000-05:00The analogy with Iraq is not just appropriate. It...The analogy with Iraq is not just appropriate. It is emblematic and symbolic of the Republican party as a whole and the Bush administration in particular. But what matters right now is "now" and "next" and "further". Reactionary knee jerking with a lust to punish will have been disastrous.<BR/><BR/>But this aversion to knee jerk reaction is limited to the larger picture of trade and fiat money. We do not want to go full bore protectionist, gold doubloons, and a $3 a gallon tax on gasoline because the <B>_REPUBLICAN_</B> government was a bunch of crooks that sought the destruction of government and the America defined in the Constitution. Some more fundamental knee jerk reactions are however quite appropriate because they are restorative of America and economically sound and the moment is upon us. In the indisputably economically sound category we will find comprehensive health insurance which is actually regulation of the health insurance sector of the economy no matter what suit you might make it wear (Canadian system may not be the only way). The political portion is the death of the current 60 vote cloture rule in the Senate. That rule is a REPUBLICAN rule and always has been. It is unusable by any truly democratic party or any party that truly represents the people. <A HREF="http://www.greatervoice.org/econ/quotes/Madison.php" REL="nofollow">The Senate</A> represents nothing other than big business or the state legislatures or both, with or without the 60 vote cloture rule. Organizing the Democratic party for a filibuster or a cloture vote is just about impossible because true democrats are not monolithic. Senators represent states and regions as opposed to proportionally representing the population. This makes the Senate very party centric and the Democratic party is the "no party" party. "I don't belong to any organized political party. I'm a Democrat." --Will Rogers<BR/><BR/>The latest waltz in the Senate is an illustration of the problems caused by the lock step monolithic REPUBLICAN party and the "minority" rule scheme. Time for the <A HREF="http://en.wikipedia.org/wiki/Nuclear_option" REL="nofollow">"nuclear option"</A>.TheTruckerhttps://www.blogger.com/profile/10346127768102862741noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-12426620967342969072009-02-05T12:01:00.000-05:002009-02-05T12:01:00.000-05:00Brenda, Not that I'm surprised at what Lindorff wr...Brenda, <BR/>Not that I'm surprised at what Lindorff writes, but where was he and his informants back in October and November? Some loud talk at that time might have had a stabalizing effect.<BR/><BR/>The analogy to Iraq is appropriate, but so too the question. Why the insight after the fact?Jackhttps://www.blogger.com/profile/12971442888151627894noreply@blogger.com