So the House of Representatives passed the pork-ified Senate bailout bill, bringing the taxpayers-are-on-the-hook total to One Trillion Eight Hundred Billion Dollars.

Think they’re finally done with us?  Bwa-ha-ha-ha-ha-ha-ha!

A successful plan to stabilize the U.S. economy and prevent a deep global recession must do more than buy back impaired debt from financial institutions.  It must address the fundamental cause of the crisis: the downward spiral of house prices...

The recently enacted financial rescue plan does nothing to stop this...

We need a firewall to break the downward spiral of house prices.  Here's how it might work.  The federal government would offer any homeowner with a mortgage an opportunity to replace 20% of the mortgage with a low-interest loan from the government...  This would be available to new buyers as well as those with mortgages...

...The total size of the mortgage-loan program might be as much as $1 trillion... - Martin Feldstein

Posted by: Old Grouch in In Passing at 17:28:43 GMT | No Comments | Add Comment
Post contains 168 words, total size 2 kb.