<?xml version="1.0" encoding="UTF-8"?><rss version="2.0" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:sy="http://purl.org/rss/1.0/modules/syndication/" > <channel><title>Comments on: What You Need To Know About Obama&#8217;s Financial Stability Plan</title> <atom:link href="http://www.jackandjillpolitics.com/2009/03/what-you-need-to-know-about-obamas-financial-stability-plan/feed/" rel="self" type="application/rss+xml" /><link>http://www.jackandjillpolitics.com/2009/03/what-you-need-to-know-about-obamas-financial-stability-plan/</link> <description>A black bourgeoisie perspective on U.S. politics</description> <lastBuildDate>Fri, 10 Feb 2012 19:32:00 +0000</lastBuildDate> <sy:updatePeriod>hourly</sy:updatePeriod> <sy:updateFrequency>1</sy:updateFrequency> <generator>http://wordpress.org/?v=3.1</generator> <item><title>By: ÄÅÌÎÍÒÀÆ ÏÅÒÅÐÁÓÐÃ</title><link>http://www.jackandjillpolitics.com/2009/03/what-you-need-to-know-about-obamas-financial-stability-plan/comment-page-1/#comment-680331</link> <dc:creator>ÄÅÌÎÍÒÀÆ ÏÅÒÅÐÁÓÐÃ</dc:creator> <pubDate>Wed, 27 Jul 2011 10:49:04 +0000</pubDate> <guid isPermaLink="false">http://www.jackandjillpolitics.com/?p=9505#comment-680331</guid> <description>&lt;strong&gt;ÄÅÌÎÍÒÀÆÍÛÅ ÐÀÁÎÒÛ...&lt;/strong&gt;minny...</description> <content:encoded><![CDATA[<p><strong>ÄÅÌÎÍÒÀÆÍÛÅ ÐÀÁÎÒÛ&#8230;</strong></p><p>minny&#8230;</p> ]]></content:encoded> </item> <item><title>By: Google</title><link>http://www.jackandjillpolitics.com/2009/03/what-you-need-to-know-about-obamas-financial-stability-plan/comment-page-1/#comment-617249</link> <dc:creator>Google</dc:creator> <pubDate>Wed, 06 Jul 2011 22:16:55 +0000</pubDate> <guid isPermaLink="false">http://www.jackandjillpolitics.com/?p=9505#comment-617249</guid> <description>&lt;strong&gt;Great Site…...&lt;/strong&gt;Hey Admin , Extremely nice blog , if you need backlinks to your website I provide upto 10,000 high quality SEO backlinks for only $5. Check it out here :http://bit.ly/msweL2...</description> <content:encoded><![CDATA[<p><strong>Great Site…&#8230;</strong></p><p>Hey Admin , Extremely nice blog , if you need backlinks to your website I provide upto 10,000 high quality SEO backlinks for only $5. Check it out here :<a href="http://bit.ly/msweL2.." rel="nofollow">http://bit.ly/msweL2..</a>.</p> ]]></content:encoded> </item> <item><title>By: srv000075</title><link>http://www.jackandjillpolitics.com/2009/03/what-you-need-to-know-about-obamas-financial-stability-plan/comment-page-1/#comment-579281</link> <dc:creator>srv000075</dc:creator> <pubDate>Thu, 16 Jun 2011 11:27:39 +0000</pubDate> <guid isPermaLink="false">http://www.jackandjillpolitics.com/?p=9505#comment-579281</guid> <description>&lt;strong&gt;srv000161...&lt;/strong&gt;fotkividiki...</description> <content:encoded><![CDATA[<p><strong>srv000161&#8230;</strong></p><p>fotkividiki&#8230;</p> ]]></content:encoded> </item> <item><title>By: ïåðååçä êâàðòèðû ñïá</title><link>http://www.jackandjillpolitics.com/2009/03/what-you-need-to-know-about-obamas-financial-stability-plan/comment-page-1/#comment-549901</link> <dc:creator>ïåðååçä êâàðòèðû ñïá</dc:creator> <pubDate>Thu, 19 May 2011 15:24:28 +0000</pubDate> <guid isPermaLink="false">http://www.jackandjillpolitics.com/?p=9505#comment-549901</guid> <description>&lt;strong&gt;ïåðååçä êâàðòèðû äåøåâî...&lt;/strong&gt;gruzchiki spb...</description> <content:encoded><![CDATA[<p><strong>ïåðååçä êâàðòèðû äåøåâî&#8230;</strong></p><p>gruzchiki spb&#8230;</p> ]]></content:encoded> </item> <item><title>By: RobM</title><link>http://www.jackandjillpolitics.com/2009/03/what-you-need-to-know-about-obamas-financial-stability-plan/comment-page-1/#comment-332033</link> <dc:creator>RobM</dc:creator> <pubDate>Tue, 24 Mar 2009 06:29:26 +0000</pubDate> <guid isPermaLink="false">http://www.jackandjillpolitics.com/?p=9505#comment-332033</guid> <description>good question. I can&#039;t guarantee my idea will work. what I am more confident of is that it will cost less to the taxpayer. &lt;br&gt;President Obama&#039;s plan is a loan guaranteed by the taxpayer ad infintum to anyone whom participtes. If it works the taxpayer receives some upside and interest on the loan. If it doesn&#039;t the loan is non recourse so the taxpayer doesn&#039;t get paid back and the investor works. Worse the institution is still getting TARP money till the next plan though Brad de long argues the plan guarantees liquidation at that point.&lt;br&gt;&lt;br&gt;If you do an FDIC type liquidation(I believe TARP legislation allows the Treasury Secretary to liquidate a Goldman Sachs under Section 103) you end the payout on the part of the taxpayer. The shareholders and bond holders lose everything as opposed to a continued sucking on the taxpayers teat through TARP. Assets(insurance companies and brokerage houses) are sold to recoup some of the losses. The deposits are passed to solvent banks allowing them to increase loans; the goal of the program. The taxpayer owns the rest. The taxpayer can hold until they recover and sell to private hands for a profit. Or the taxpayer can liquidate the assets immediately taking the loss but putting them in private hands. But its over no more coming to the taxpayer for money.</description> <content:encoded><![CDATA[<p>good question. I can&#39;t guarantee my idea will work. what I am more confident of is that it will cost less to the taxpayer. <br />President Obama&#39;s plan is a loan guaranteed by the taxpayer ad infintum to anyone whom participtes. If it works the taxpayer receives some upside and interest on the loan. If it doesn&#39;t the loan is non recourse so the taxpayer doesn&#39;t get paid back and the investor works. Worse the institution is still getting TARP money till the next plan though Brad de long argues the plan guarantees liquidation at that point.</p><p>If you do an FDIC type liquidation(I believe TARP legislation allows the Treasury Secretary to liquidate a Goldman Sachs under Section 103) you end the payout on the part of the taxpayer. The shareholders and bond holders lose everything as opposed to a continued sucking on the taxpayers teat through TARP. Assets(insurance companies and brokerage houses) are sold to recoup some of the losses. The deposits are passed to solvent banks allowing them to increase loans; the goal of the program. The taxpayer owns the rest. The taxpayer can hold until they recover and sell to private hands for a profit. Or the taxpayer can liquidate the assets immediately taking the loss but putting them in private hands. But its over no more coming to the taxpayer for money.</p> ]]></content:encoded> </item> <item><title>By: PTCruiser</title><link>http://www.jackandjillpolitics.com/2009/03/what-you-need-to-know-about-obamas-financial-stability-plan/comment-page-1/#comment-332037</link> <dc:creator>PTCruiser</dc:creator> <pubDate>Tue, 24 Mar 2009 04:52:59 +0000</pubDate> <guid isPermaLink="false">http://www.jackandjillpolitics.com/?p=9505#comment-332037</guid> <description>No one is denying the collusion between the Democrats and Republicans helped to create this mess, but when you mention Barney Frank in this context you are covertly taking a shot at the Community Reinvestment Act as well as Fannie and Freddie. &lt;br&gt;&lt;br&gt;The problem is that your line of argument is not supported by the facts. What you are asserting in fact is that the wreckage of the global economy was caused by people who work for wages. This is a preposterous position.</description> <content:encoded><![CDATA[<p>No one is denying the collusion between the Democrats and Republicans helped to create this mess, but when you mention Barney Frank in this context you are covertly taking a shot at the Community Reinvestment Act as well as Fannie and Freddie.</p><p>The problem is that your line of argument is not supported by the facts. What you are asserting in fact is that the wreckage of the global economy was caused by people who work for wages. This is a preposterous position.</p> ]]></content:encoded> </item> <item><title>By: Conserv1</title><link>http://www.jackandjillpolitics.com/2009/03/what-you-need-to-know-about-obamas-financial-stability-plan/comment-page-1/#comment-332036</link> <dc:creator>Conserv1</dc:creator> <pubDate>Tue, 24 Mar 2009 04:27:05 +0000</pubDate> <guid isPermaLink="false">http://www.jackandjillpolitics.com/?p=9505#comment-332036</guid> <description>I understand that and I support the plan.&lt;br&gt;&lt;br&gt;Main Street will have to place its trust in the administration and Congress to responsibly partner with Wall Street.&lt;br&gt;&lt;br&gt;I am merely pointing out how some poster refuse to acknowledge the role our government (Republicans and Democrats) played.</description> <content:encoded><![CDATA[<p>I understand that and I support the plan.</p><p>Main Street will have to place its trust in the administration and Congress to responsibly partner with Wall Street.</p><p>I am merely pointing out how some poster refuse to acknowledge the role our government (Republicans and Democrats) played.</p> ]]></content:encoded> </item> <item><title>By: Conserv1</title><link>http://www.jackandjillpolitics.com/2009/03/what-you-need-to-know-about-obamas-financial-stability-plan/comment-page-1/#comment-332028</link> <dc:creator>Conserv1</dc:creator> <pubDate>Tue, 24 Mar 2009 04:20:56 +0000</pubDate> <guid isPermaLink="false">http://www.jackandjillpolitics.com/?p=9505#comment-332028</guid> <description>I agree with this assessment:&lt;br&gt;&lt;br&gt;&quot;Packaging and reselling bad assets — even at huge losses — is the market&#039;s way of dealing with bad investments. Geithner, then, is to some extent finally allowing markets to dispose of these bad debts. Geithner seems to recognize, that markets, better than bureaucrats, can assign a fair value to the assets and at last take them off the books.&lt;br&gt;&lt;br&gt;On the negative side, Geithner&#039;s plan is likely to be very expensive. &lt;br&gt;Second, the plan&#039;s success lies in part in describing these troubled assets accurately enough to create a legitimate market for them. Unfortunately, no one knows how well these assets can be packaged and resold. If, in fact, they can be packaged and resold profitably, then buyers will now need additional assurance that they won&#039;t be taxed 90 percent on any gains from toxic assets.&quot;&lt;br&gt;&lt;br&gt;Will taxpayers want to pay?&lt;br&gt;&lt;br&gt;There may also be a problem with the implementation of the plan if Congress insists on salary caps and punitive taxation.&lt;br&gt;&lt;br&gt;Under Geithner&#039;s plan, private investors stand to make a lot of money, and all it takes is a few high-profile stories about lavish compensation to bring out the pitchforks. &lt;br&gt;&lt;br&gt;Why would any investor want to be a sitting duck for populist ire?&lt;br&gt;&lt;br&gt;What Congress did to AIG CEO Ed Liddy serves as a cautionary tale. &lt;br&gt;&lt;br&gt;&quot;Here’s a guy who came in at the government’s request, after AIG had been nationalized,&quot; said California Rep. John Campbell (R). &quot;He’s taking no salary, no bonus, no stock options. He’s got no financial stake in this. He’s truly a volunteer trying to help his country. And he gets dragged before a congressional committee and, by a large number of the committee members, just gets ripped over the issue of these bonuses.&quot;</description> <content:encoded><![CDATA[<p>I agree with this assessment:</p><p>&#8220;Packaging and reselling bad assets — even at huge losses — is the market&#39;s way of dealing with bad investments. Geithner, then, is to some extent finally allowing markets to dispose of these bad debts. Geithner seems to recognize, that markets, better than bureaucrats, can assign a fair value to the assets and at last take them off the books.</p><p>On the negative side, Geithner&#39;s plan is likely to be very expensive. <br />Second, the plan&#39;s success lies in part in describing these troubled assets accurately enough to create a legitimate market for them. Unfortunately, no one knows how well these assets can be packaged and resold. If, in fact, they can be packaged and resold profitably, then buyers will now need additional assurance that they won&#39;t be taxed 90 percent on any gains from toxic assets.&#8221;</p><p>Will taxpayers want to pay?</p><p>There may also be a problem with the implementation of the plan if Congress insists on salary caps and punitive taxation.</p><p>Under Geithner&#39;s plan, private investors stand to make a lot of money, and all it takes is a few high-profile stories about lavish compensation to bring out the pitchforks.</p><p>Why would any investor want to be a sitting duck for populist ire?</p><p>What Congress did to AIG CEO Ed Liddy serves as a cautionary tale.</p><p>&#8220;Here’s a guy who came in at the government’s request, after AIG had been nationalized,&#8221; said California Rep. John Campbell (R). &#8220;He’s taking no salary, no bonus, no stock options. He’s got no financial stake in this. He’s truly a volunteer trying to help his country. And he gets dragged before a congressional committee and, by a large number of the committee members, just gets ripped over the issue of these bonuses.&#8221;</p> ]]></content:encoded> </item> <item><title>By: lamh32</title><link>http://www.jackandjillpolitics.com/2009/03/what-you-need-to-know-about-obamas-financial-stability-plan/comment-page-1/#comment-332032</link> <dc:creator>lamh32</dc:creator> <pubDate>Tue, 24 Mar 2009 03:27:24 +0000</pubDate> <guid isPermaLink="false">http://www.jackandjillpolitics.com/?p=9505#comment-332032</guid> <description>It&#039;s obvious that you seem to know more than most about he issue of economics.  I get that, but can I ask you a question, can you, Geithner, Krugman, et al 100% guarantee that your way will work.  I bet you can&#039;t, because this is new terrority for everyone right.  From what I&#039;ve read, this is a new situation we find ourselves in.  There has been similar seperate circumstances, but nothing truly like this confluences of circumstances all at once right?  So all Geithner, Krugman, you, or anyone else are doing is testing a theory that should work.  You don&#039;t know for sure that it will, so how can you say that one will work but the other will not, when you are alll just going on theory.  No knows the exact right thing to do.</description> <content:encoded><![CDATA[<p>It&#39;s obvious that you seem to know more than most about he issue of economics.  I get that, but can I ask you a question, can you, Geithner, Krugman, et al 100% guarantee that your way will work.  I bet you can&#39;t, because this is new terrority for everyone right.  From what I&#39;ve read, this is a new situation we find ourselves in.  There has been similar seperate circumstances, but nothing truly like this confluences of circumstances all at once right?  So all Geithner, Krugman, you, or anyone else are doing is testing a theory that should work.  You don&#39;t know for sure that it will, so how can you say that one will work but the other will not, when you are alll just going on theory.  No knows the exact right thing to do.</p> ]]></content:encoded> </item> <item><title>By: Booky</title><link>http://www.jackandjillpolitics.com/2009/03/what-you-need-to-know-about-obamas-financial-stability-plan/comment-page-1/#comment-332030</link> <dc:creator>Booky</dc:creator> <pubDate>Tue, 24 Mar 2009 03:16:19 +0000</pubDate> <guid isPermaLink="false">http://www.jackandjillpolitics.com/?p=9505#comment-332030</guid> <description>We must laugh to keep from crying :).</description> <content:encoded><![CDATA[<p>We must laugh to keep from crying :).</p> ]]></content:encoded> </item> <item><title>By: Val</title><link>http://www.jackandjillpolitics.com/2009/03/what-you-need-to-know-about-obamas-financial-stability-plan/comment-page-1/#comment-332029</link> <dc:creator>Val</dc:creator> <pubDate>Tue, 24 Mar 2009 03:06:26 +0000</pubDate> <guid isPermaLink="false">http://www.jackandjillpolitics.com/?p=9505#comment-332029</guid> <description>RAOTFLMAO  Ohmygosh Booky - I fell off my chair. Thank you for giving me my first real laugh for the day.</description> <content:encoded><![CDATA[<p>RAOTFLMAO  Ohmygosh Booky &#8211; I fell off my chair. Thank you for giving me my first real laugh for the day.</p> ]]></content:encoded> </item> <item><title>By: PTCruiser</title><link>http://www.jackandjillpolitics.com/2009/03/what-you-need-to-know-about-obamas-financial-stability-plan/comment-page-1/#comment-332035</link> <dc:creator>PTCruiser</dc:creator> <pubDate>Tue, 24 Mar 2009 02:59:07 +0000</pubDate> <guid isPermaLink="false">http://www.jackandjillpolitics.com/?p=9505#comment-332035</guid> <description>&lt;i&gt;Clinton, Bush and Congress were all too happy to ride the tide of rising home ownership but when it became clear reforms were necessary, Frank, and other Dems on the committe resisted.&lt;/i&gt;&lt;br&gt;&lt;br&gt;When did it become clear to the Republicans who controlled the House and Senate that reforms were necessary? What reforms did they propose? And why do you believe that Fannie Mae and Freddie Mac, whatever their faults were, are responsible for the housing bubble?</description> <content:encoded><![CDATA[<p><i>Clinton, Bush and Congress were all too happy to ride the tide of rising home ownership but when it became clear reforms were necessary, Frank, and other Dems on the committe resisted.</i></p><p>When did it become clear to the Republicans who controlled the House and Senate that reforms were necessary? What reforms did they propose? And why do you believe that Fannie Mae and Freddie Mac, whatever their faults were, are responsible for the housing bubble?</p> ]]></content:encoded> </item> <item><title>By: RobM</title><link>http://www.jackandjillpolitics.com/2009/03/what-you-need-to-know-about-obamas-financial-stability-plan/comment-page-1/#comment-332034</link> <dc:creator>RobM</dc:creator> <pubDate>Tue, 24 Mar 2009 02:53:30 +0000</pubDate> <guid isPermaLink="false">http://www.jackandjillpolitics.com/?p=9505#comment-332034</guid> <description>Look dirt bag you&#039;re scum. Do not use my name or work to defend your inept partisan work just becasue you&#039;re like a broken clock right twice a day.</description> <content:encoded><![CDATA[<p>Look dirt bag you&#39;re scum. Do not use my name or work to defend your inept partisan work just becasue you&#39;re like a broken clock right twice a day.</p> ]]></content:encoded> </item> <item><title>By: RobM</title><link>http://www.jackandjillpolitics.com/2009/03/what-you-need-to-know-about-obamas-financial-stability-plan/comment-page-1/#comment-332031</link> <dc:creator>RobM</dc:creator> <pubDate>Tue, 24 Mar 2009 02:51:47 +0000</pubDate> <guid isPermaLink="false">http://www.jackandjillpolitics.com/?p=9505#comment-332031</guid> <description>You don&#039;t understand the process. This is what is done:&lt;br&gt;&lt;a href=&quot;http://www.calculatedriskblog.com/2009/03/bf-19-20-fdic-seizes-teambank-national.html&quot; rel=&quot;nofollow&quot;&gt;http://www.calculatedriskblog.com/2009/03/bf-19...&lt;/a&gt;&lt;br&gt;The choice you have made is to loan money to FI&#039;s w/ taxpayer and FI&#039;s making money on the upside or since they are nonrecourse loans to FI&#039;s the taxpayer loses on the downside on our share and theirs. All the while, at the same time the shareholders and bondholders suck on the taxpayers teat. the alternative is to liquidate them, have the taxpayers own the bad assets, give solvent banks the depositers and sell off the assets and the ondholders and shareholders lose the way they should. We can probable sell the good depositors for more cash.</description> <content:encoded><![CDATA[<p>You don&#39;t understand the process. This is what is done:<br /><a href="http://www.calculatedriskblog.com/2009/03/bf-19-20-fdic-seizes-teambank-national.html" rel="nofollow">http://www.calculatedriskblog.com/2009/03/bf-19&#8230;</a><br />The choice you have made is to loan money to FI&#39;s w/ taxpayer and FI&#39;s making money on the upside or since they are nonrecourse loans to FI&#39;s the taxpayer loses on the downside on our share and theirs. All the while, at the same time the shareholders and bondholders suck on the taxpayers teat. the alternative is to liquidate them, have the taxpayers own the bad assets, give solvent banks the depositers and sell off the assets and the ondholders and shareholders lose the way they should. We can probable sell the good depositors for more cash.</p> ]]></content:encoded> </item> <item><title>By: RobM</title><link>http://www.jackandjillpolitics.com/2009/03/what-you-need-to-know-about-obamas-financial-stability-plan/comment-page-1/#comment-170571</link> <dc:creator>RobM</dc:creator> <pubDate>Tue, 24 Mar 2009 02:29:26 +0000</pubDate> <guid isPermaLink="false">http://www.jackandjillpolitics.com/?p=9505#comment-170571</guid> <description>good question. I can&#039;t guarantee my idea will work. what I am more confident of is that it will cost less to the taxpayer. &lt;br&gt;President Obama&#039;s plan is a loan guaranteed by the taxpayer ad infintum to anyone whom participtes. If it works the taxpayer receives some upside and interest on the loan. If it doesn&#039;t the loan is non recourse so the taxpayer doesn&#039;t get paid back and the investor works. Worse the institution is still getting TARP money till the next plan though Brad de long argues the plan guarantees liquidation at that point.&lt;br&gt;&lt;br&gt;If you do an FDIC type liquidation(I believe TARP legislation allows the Treasury Secretary to liquidate a Goldman Sachs under Section 103) you end the payout on the part of the taxpayer. The shareholders and bond holders lose everything as opposed to a continued sucking on the taxpayers teat through TARP. Assets(insurance companies and brokerage houses) are sold to recoup some of the losses. The deposits are passed to solvent banks allowing them to increase loans; the goal of the program. The taxpayer owns the rest. The taxpayer can hold until they recover and sell to private hands for a profit. Or the taxpayer can liquidate the assets immediately taking the loss but putting them in private hands. But its over no more coming to the taxpayer for money.</description> <content:encoded><![CDATA[<p>good question. I can&#39;t guarantee my idea will work. what I am more confident of is that it will cost less to the taxpayer. <br />President Obama&#39;s plan is a loan guaranteed by the taxpayer ad infintum to anyone whom participtes. If it works the taxpayer receives some upside and interest on the loan. If it doesn&#39;t the loan is non recourse so the taxpayer doesn&#39;t get paid back and the investor works. Worse the institution is still getting TARP money till the next plan though Brad de long argues the plan guarantees liquidation at that point.</p><p>If you do an FDIC type liquidation(I believe TARP legislation allows the Treasury Secretary to liquidate a Goldman Sachs under Section 103) you end the payout on the part of the taxpayer. The shareholders and bond holders lose everything as opposed to a continued sucking on the taxpayers teat through TARP. Assets(insurance companies and brokerage houses) are sold to recoup some of the losses. The deposits are passed to solvent banks allowing them to increase loans; the goal of the program. The taxpayer owns the rest. The taxpayer can hold until they recover and sell to private hands for a profit. Or the taxpayer can liquidate the assets immediately taking the loss but putting them in private hands. But its over no more coming to the taxpayer for money.</p> ]]></content:encoded> </item> <item><title>By: PTCruiser</title><link>http://www.jackandjillpolitics.com/2009/03/what-you-need-to-know-about-obamas-financial-stability-plan/comment-page-1/#comment-170497</link> <dc:creator>PTCruiser</dc:creator> <pubDate>Tue, 24 Mar 2009 00:52:59 +0000</pubDate> <guid isPermaLink="false">http://www.jackandjillpolitics.com/?p=9505#comment-170497</guid> <description>No one is denying the collusion between the Democrats and Republicans helped to create this mess, but when you mention Barney Frank in this context you are covertly taking a shot at the Community Reinvestment Act as well as Fannie and Freddie. &lt;br&gt;&lt;br&gt;The problem is that your line of argument is not supported by the facts. What you are asserting in fact is that the wreckage of the global economy was caused by people who work for wages. This is a preposterous position.</description> <content:encoded><![CDATA[<p>No one is denying the collusion between the Democrats and Republicans helped to create this mess, but when you mention Barney Frank in this context you are covertly taking a shot at the Community Reinvestment Act as well as Fannie and Freddie.</p><p>The problem is that your line of argument is not supported by the facts. What you are asserting in fact is that the wreckage of the global economy was caused by people who work for wages. This is a preposterous position.</p> ]]></content:encoded> </item> <item><title>By: Conserv1</title><link>http://www.jackandjillpolitics.com/2009/03/what-you-need-to-know-about-obamas-financial-stability-plan/comment-page-1/#comment-170456</link> <dc:creator>Conserv1</dc:creator> <pubDate>Tue, 24 Mar 2009 00:27:05 +0000</pubDate> <guid isPermaLink="false">http://www.jackandjillpolitics.com/?p=9505#comment-170456</guid> <description>I understand that and I support the plan.&lt;br&gt;&lt;br&gt;Main Street will have to place its trust in the administration and Congress to responsibly partner with Wall Street.&lt;br&gt;&lt;br&gt;I am merely pointing out how some poster refuse to acknowledge the role our government (Republicans and Democrats) played.</description> <content:encoded><![CDATA[<p>I understand that and I support the plan.</p><p>Main Street will have to place its trust in the administration and Congress to responsibly partner with Wall Street.</p><p>I am merely pointing out how some poster refuse to acknowledge the role our government (Republicans and Democrats) played.</p> ]]></content:encoded> </item> <item><title>By: Conserv1</title><link>http://www.jackandjillpolitics.com/2009/03/what-you-need-to-know-about-obamas-financial-stability-plan/comment-page-1/#comment-170446</link> <dc:creator>Conserv1</dc:creator> <pubDate>Tue, 24 Mar 2009 00:20:56 +0000</pubDate> <guid isPermaLink="false">http://www.jackandjillpolitics.com/?p=9505#comment-170446</guid> <description>I agree with this assessment:&lt;br&gt;&lt;br&gt;&quot;Packaging and reselling bad assets — even at huge losses — is the market&#039;s way of dealing with bad investments. Geithner, then, is to some extent finally allowing markets to dispose of these bad debts. Geithner seems to recognize, that markets, better than bureaucrats, can assign a fair value to the assets and at last take them off the books.&lt;br&gt;&lt;br&gt;On the negative side, Geithner&#039;s plan is likely to be very expensive.  Will taxpayers want to play?&lt;br&gt;&lt;br&gt;Second, the plan&#039;s success lies in part in describing these troubled assets accurately enough to create a legitimate market for them. Unfortunately, no one knows how well these assets can be packaged and resold. If, in fact, they can be packaged and resold profitably, then buyers will now need additional assurance that they won&#039;t be taxed 90 percent on any gains from toxic assets.&quot;&lt;br&gt;&lt;br&gt;There may also be a problem with the implementation of the plan if Congress insists on salary caps and punitive taxation.&lt;br&gt;&lt;br&gt;Under Geithner&#039;s plan, private investors stand to make a lot of money, and all it takes is a few high-profile stories about lavish compensation to bring out the pitchforks. &lt;br&gt;&lt;br&gt;Why would any investor want to be a sitting duck for populist ire?&lt;br&gt;&lt;br&gt;What Congress did to AIG CEO Ed Liddy serves as a cautionary tale. &lt;br&gt;&lt;br&gt;&quot;Here’s a guy who came in at the government’s request, after AIG had been nationalized,&quot; said California Rep. John Campbell (R). &quot;He’s taking no salary, no bonus, no stock options. He’s got no financial stake in this. He’s truly a volunteer trying to help his country. And he gets dragged before a congressional committee and, by a large number of the committee members, just gets ripped over the issue of these bonuses.&quot;</description> <content:encoded><![CDATA[<p>I agree with this assessment:</p><p>&#8220;Packaging and reselling bad assets — even at huge losses — is the market&#39;s way of dealing with bad investments. Geithner, then, is to some extent finally allowing markets to dispose of these bad debts. Geithner seems to recognize, that markets, better than bureaucrats, can assign a fair value to the assets and at last take them off the books.</p><p>On the negative side, Geithner&#39;s plan is likely to be very expensive.  Will taxpayers want to play?</p><p>Second, the plan&#39;s success lies in part in describing these troubled assets accurately enough to create a legitimate market for them. Unfortunately, no one knows how well these assets can be packaged and resold. If, in fact, they can be packaged and resold profitably, then buyers will now need additional assurance that they won&#39;t be taxed 90 percent on any gains from toxic assets.&#8221;</p><p>There may also be a problem with the implementation of the plan if Congress insists on salary caps and punitive taxation.</p><p>Under Geithner&#39;s plan, private investors stand to make a lot of money, and all it takes is a few high-profile stories about lavish compensation to bring out the pitchforks.</p><p>Why would any investor want to be a sitting duck for populist ire?</p><p>What Congress did to AIG CEO Ed Liddy serves as a cautionary tale.</p><p>&#8220;Here’s a guy who came in at the government’s request, after AIG had been nationalized,&#8221; said California Rep. John Campbell (R). &#8220;He’s taking no salary, no bonus, no stock options. He’s got no financial stake in this. He’s truly a volunteer trying to help his country. And he gets dragged before a congressional committee and, by a large number of the committee members, just gets ripped over the issue of these bonuses.&#8221;</p> ]]></content:encoded> </item> <item><title>By: lamh32</title><link>http://www.jackandjillpolitics.com/2009/03/what-you-need-to-know-about-obamas-financial-stability-plan/comment-page-1/#comment-170380</link> <dc:creator>lamh32</dc:creator> <pubDate>Mon, 23 Mar 2009 23:27:24 +0000</pubDate> <guid isPermaLink="false">http://www.jackandjillpolitics.com/?p=9505#comment-170380</guid> <description>It&#039;s obvious that you seem to know more than most about he issue of economics.  I get that, but can I ask you a question, can you, Geithner, Krugman, et al 100% guarantee that your way will work.  I bet you can&#039;t, because this is new terrority for everyone right.  From what I&#039;ve read, this is a new situation we find ourselves in.  There has been similar seperate circumstances, but nothing truly like this confluences of circumstances all at once right?  So all Geithner, Krugman, you, or anyone else are doing is testing a theory that should work.  You don&#039;t know for sure that it will, so how can you say that one will work but the other will not, when you are alll just going on theory.  No knows the exact right thing to do.</description> <content:encoded><![CDATA[<p>It&#39;s obvious that you seem to know more than most about he issue of economics.  I get that, but can I ask you a question, can you, Geithner, Krugman, et al 100% guarantee that your way will work.  I bet you can&#39;t, because this is new terrority for everyone right.  From what I&#39;ve read, this is a new situation we find ourselves in.  There has been similar seperate circumstances, but nothing truly like this confluences of circumstances all at once right?  So all Geithner, Krugman, you, or anyone else are doing is testing a theory that should work.  You don&#39;t know for sure that it will, so how can you say that one will work but the other will not, when you are alll just going on theory.  No knows the exact right thing to do.</p> ]]></content:encoded> </item> <item><title>By: Booky</title><link>http://www.jackandjillpolitics.com/2009/03/what-you-need-to-know-about-obamas-financial-stability-plan/comment-page-1/#comment-170368</link> <dc:creator>Booky</dc:creator> <pubDate>Mon, 23 Mar 2009 23:16:19 +0000</pubDate> <guid isPermaLink="false">http://www.jackandjillpolitics.com/?p=9505#comment-170368</guid> <description>We must laugh to keep from crying :).</description> <content:encoded><![CDATA[<p>We must laugh to keep from crying :).</p> ]]></content:encoded> </item> </channel> </rss>
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