Re: amoeba's Account Talk
Still haven't paid back a cent on the "emergency" off budget war spending
Doing nothing didn't work (ask Lehman brothers)
Lowering interest rates no longer works (when the fed moves everyone yawns)
Paulson plan supposedly helped the finance sector, but they can't show any proof
Federal Reserve Discount window lending is HUGE, makes anything out of Congress look like small fry
Opening up the discount window still hasn't opened up lending elsewhere
Auto bailout is a bandaid
And this ALL has already taken place, pre-Obama.
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Personally I prefer putting Glass Steagal and other regulations back in instead of more spending, the problem to me appears to be NO one can be confident in stock or loan bond ratings. Ditto for real estate loans, if someone wants to lend out money they should never have been able to sell the risk. We are now in the Barnum and Bailey school of finance, and I don't play finance on roulette wheels; the house always wins.
However, although you can't spend your way out of a recession, at least you can do something about the spiraling unemployment rate - which if it continues increases the danger of turning from Recess to depress.
"All the prophets of Doom, Can always find room, In a world full of worry and fear..." - Protest Song, Monty Python
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