http://blogmaverick.com/2008/09/25/the-bailout-the-myth-the-legend-the-bestseller/
A follow-up.
This is what I saw as well as I watched the questions coming at Paulson.
it became painfully clear that more than a few of our esteemed politicians were fundamentally financial illiterate and had absolutely no idea what was going on.
This is one of our major problems. Politicians do not know things and/or are not particularly good at anything. Their position is really a farce because we have become slaves to our two party system and the majority of people just vote for parties instead of actual people.
Why are we allowing people who don't know a fecking thing stop this thing.
Personally, I think we have seriously fecked up by not getting this thing passed sooner.
I would like to see the addition of guarantees to individuals borrowers that if they meet certain minimums (down-payments, credit score/history) that they automatically qualify for loans at certain rates. This would instantly put the $700B of OUR money to work for us and
help stabilize the economy.
