[Tfug] OT: Bailout Bill

[Jude Nelson]

There is another complication:  If we don't do *something*, there is a
risk that the bad loans will be bought up by foreign powers.  Houses
aren't completely worthless, and the market trend as it is will
reverse eventually, leaving China, India, Europe, the UAE, etc. with
even more of a stake in our economy.  I don't like the idea of a
bailout for Wall Street, but I think the US should buy up the loans
from individual Americans to prevent other nations from doing so.
Homeowners with bad loans will simply owe the government more money
than usual (or they can default on the loan and the US can use the
land for public works projects, cheaper subsidized housing, wind
farms, land rentals, etc), and we responsible Americans don't have to
pay (as much) for them, and the greedy Wall Street execs responsible
for this mess can enjoy a life of hardship when no one wants to hire
them to manage their assets.

On 9/25/08, Calvin Dodge <caldodge at gmail.com> wrote:
> On Thu, Sep 25, 2008 at 12:00 PM, Steve Franks <stevefranks at ieee.org> wrote:
>> You are perhaps referring to
>> http://en.wikipedia.org/wiki/Gramm-Leach-Bliley_Act - the 'side' of
>> the isle you are referring to appears to have left their constituents
>> behind when they went to Washington (as did the *other* side of the
>
> It's a common occurrence, unfortunately.
>
>> aisle).  This country needs more libertarians.
>
> No argument there.
>
> Calvin
>
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