Ahhh, C-Span, I forgot how much I missed you

Garner · **Ahhh, C-Span, I forgot how much I missed you -** 09-27-2008, 09:07

YouTube - Let's Play "WALLSTREET BAILOUT" The Rules Are... Rep Kaptur

Hsing · 09-27-2008, 17:23

That was so well put that I couldn't believe it is real.

Roman_K · 09-27-2008, 21:39

(9:35:31 PM) Garner: opinions? and back in a while. going out

(10:03:31 PM) Roman K: Undecided.

(10:03:47 PM) Roman K: But for the record, her speech has as much hyperbole as it has sense.

(10:04:10 PM) Roman K: She has given no real alternative, as such, beyond vague notions.

(10:06:05 PM) Roman K: As I see it, you either watch the market crash and burn and cushion the "little people" as it goes down, and then Build a Better Future (her general direction), or you try to salvage what you can today in a desperate attempt to avoid a civil revolt by letting the Fed become a major market player that takes the biggest risks with public funds (the administration's general direction).

(10:09:41 PM) Roman K: Frankly? The only people to blame are the idiots who removed the market regulation that survived since the New Deal days (that'd be Clinton's economic advisers), the idiots who didn't see the disaster coming *after* the regulation was removed and six years of low interest rates hit(that'd be the Bush economic advisers, except for that last guy - who suggested restoring a semblance of market regulation when it was too damn late), the banks and insurers who didn't think through with the convoluted deals designed to get a profit during the low interest rate period... and the complete and utter fools who comprise a small, yet significant part of the American public who thought that real-estate could turn a quick buck when they *knew* they didn't have actual funds.

(10:10:16 PM) Roman K: Like it or not, it's not just people on top who thought they could get something for nothing - had there not been such a large amount of people at the *bottom* who thought the same way, we wouldn't be here today.

(10:10:30 PM) Roman K: But there's no real solution now.

(10:12:24 PM) Roman K: You either go for Stabilization (a reasonable path for today and the near future, expensive in the long run), or The Phoenix (cushion everyone at the bottom, burn people at the top, and wait for something new to happen as it goes).

(10:13:23 PM) Roman K: But neither path is a *solution*, as you will see. In each case, the onus is on waiting.

(10:13:45 PM) Roman K: The question is only what we do as we wait, and possibly who we string up as we do so.

(10:14:56 PM) Roman K: And while stringing people up might give us satisfaction, doing so may have too big an economic fallout.

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