recession
Has anyone been reading about the Dodd-Frank bill? It sounds like a really bad idea.
Quoted: Valliere said that the idea gaining the most support is a plan from Senate Banking Chairman Chris Dodd and House Financial Services Chairman Barney Frank. Both are Democrats.
Quoted: The proposal, likely to be introduced soon after Congress returns from the Easter recess next week, would have the Federal Housing Administration guarantee hundreds of billions of new, lower-cost loans to troubled homeowners. Many borrowers would see their total principal on these new mortgages reduced under this program.
Quoted: "I think there's a growing populist feeling that if you're going to bail out Bear Stearns you better bail out individuals," said Greg Valliere, political economist with the Stanford Group, a Washington think tank.
And I don't understand why people think the Feds loan to JP Morgan to buy Bear Stearns is a 'bailout'. Why do people think this?
1 FaverShareViewed: 3 Times1 FaverShareViewed: 10 TimesQuoted: The Federal Reserve not only taken has action unprecedented since the Great Depression — by lending money directly to major investment banks — but also has put taxpayers on the hook for billions of dollars in questionable trades these same bankers made when the good times were rollin
Oh dubya...
2 FaversShareViewed: 13 TimesQuoted: Pressed on the issue, Mr. Bush said, "You need to talk to an economist."
...
"I think I got a 'B' in Econ 101, but I got an 'A' in not raising taxes," he said.
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