On The new bailout pitch: It's NOT a bailout
Posted on October 1 at 7:59 p.m. ( Suggest removal )
What exactly is meant by "Wall Street Bailout?"
If I run short of cash I can sell my boat to get it. Is the buyer of my boat "bailing me out?" Perhaps, if I can't sell the boat to anybody else, and the buyer knows I'm hurting for cash. But doesn't the buyer get something for his money? If the buyer really doesn't need a boat, he can always sell it to get his cash back.
.
But what if my boat's buyer of last resort is the US government? Is it wrong for the government to buy private sector property? Would it be harmful for the government to buy the $700 billion of junk securities as proposed? It's arguable, of course, but there is good reason to believe that any harm caused by purchasing them will be less than that caused by NOT purchasing them.
.
In 1939, after Hitler invaded Poland, the US needed to start gearing up for a war against Germany. But there was enormous foot-dragging by two powerful special interest groups who were very suspicious of each other. The New Dealers feared war preparations because they feared the power of a combined business-military conspiracy. The business-military group knew that mobilizing the economy for a major war would require strong government controls, and they feared that the New Dealers would continue that control after the war was over - a shrewd and sneaky way to force socialism on the US. Both those powers inhibited US war preparations until December 7 forced both their hands. And the fears of neither of those parties were realized after the war.
.
The government will not hang on to those junk securities any longer than they have to. They have every motive to liquidate them as quickly and as profitably as possible.
.
As an aside, I think a good way to get rid of them would be: 1) invite homeowners troubled by their mortgages to sell back their homes to the government, getting back their down payments and any payments they made on the loan principle; and 2) letting the government raffle off the homes selling $100 tickets. That's about the only way the government will get back the money loaned on houses that are now worth less than the loan amount. All revenues from these raffles should go into the government's general fund.
On The new bailout pitch: It's NOT a bailout
Posted on October 1 at 6:50 p.m. ( Suggest removal )
RE dkush21: "The richest 400 Americans -- that's right, just four hundred people -- own MORE than the bottom 150 million Americans combined. "
.
Those richest 400 also pay more taxes than the bottom 150 million Americans combined.
On Rock County clerk says polls are secure
Posted on September 28 at 9:07 p.m. ( Suggest removal )
It makes no sense that Insightfullone's city has 3600 voters (in a city of 14,000) that have been questioned and may require verification on election day, and a city the size of Janesville has none. Which city clerk is not doing their
job correctly?
.
How are those 3600 voters going to confirm their identity on election day? Do they need to bring some kind of proof of ID?
On The era of big Clintons is soon over
Posted on May 27 at 3:33 p.m. ( Suggest removal )
Don't kid yourselves - Hillary's not done. She quit running for 2008 some weeks ago - she's now running for 2012. She won't get out of the public eye for the rest of this campaign, and when Obama gets defeated this time, he will be done and Hillary has a clear shot for 2012. She'll be campaigning for the next 4 1/2 years.
On Effort to decertify union is driving a wedge into Janesville-based business
Posted on May 9 at 10:44 a.m. ( Suggest removal )
"Bandemer acknowledged that wages and benefits are about the same at the union and non-union stores.
But that’s just a Woodman’s tactic to make the union appear ineffective...." How has the union been effective? Do they have to keep threatening strikes to force union store wages to keep pace with the non-union stores? It looks to me like it's the union driving the wedge here - between employee and management. Naahh, unions don't do that. There's no money in that.
On Effort to decertify union is driving a wedge into Janesville-based business
Posted on May 9 at 10:06 a.m. ( Suggest removal )
"Earlier this year, more than a third of the 950 employees at the stores signed a petition to decertify United Food & Commercial Workers Union Local 1473." Was this before or after the hiring of Fred Grubb, management consultant?
On Proposal alters truancy ordinance
Posted on May 8 at 7:06 p.m. ( Suggest removal )
What do kids do when they skip school?
On Success of Rock County jail diversion programs requires new staff
Posted on May 7 at 8:12 a.m. ( Suggest removal )
I thoroughly oppose using community service as a punishment. Community service is a privelege that should be reserved to those who do it of their own free will.
On Poll: Majority of Wis. residents want universal care
Posted on May 7 at 7:19 a.m. ( Suggest removal )
Universal health care is like being forced to shop at a large supermarket that has only one checkout open.
Page 1 of 3 | Next
On The new bailout pitch: It's NOT a bailout
Posted on October 2 at 12:07 a.m. ( Suggest removal )
How stupid are you idiots that you don't understand that if the government buys $700 billion worth of securities, it then owns $700 billion worth of securities - taxpayers are not out the money! The government gives cash to the investment businesses and get securities back from them.
The $700 billion is NOT A GIFT! It's a sales transaction!
Moreover, there are ways to liquidate those securities to get the cash back out with minimum loss. And why not chargeback the exact loss to the businesses, when it's known and if there is any?