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Author Topic: C-SPAN2 and Windbag Discussion thread  (Read 1696 times)
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WhiskeyGirl
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« on: February 06, 2009, 03:34:04 PM »

Anyone else watch C-SPAN2?

I find the debates interesting.

The one on now is about a foreclosure mitigation amendment and Sheila Bair.  It would appear that Sheila Bair, of the FDIC, has a positive proven track record.  She was one of the ones waving the warning flag for years about probelms and the coming tsunami of toxi debt, etc.  A PROVEN TRACK RECORD FOR GOOD DECISIONS and ACTIONS.  Someone you can trust.

In a bill filled with pork that might be fine for other bills in the future, a few bucks NOW for Main Street foreclosure is a good idea.

Maybe some in Congress are so far removed from Main Street, they do not know, realize, or care about how hard it is to find a job when one is homeless.

It's even harder when you lose your car and have a family to take care of two.

Getting a job is a lot harder when you have no place to live and have to move from shelter to shelter each night.  Anyone in Congress ever spend a night in a homeless shelter?  Live in their car?  Depend on the charity of others?

How many have voiced that the 'government should do something' and nothing has been done for foreclosures.  Waiting for TARP is a lost cause.

In my mind, the TARP program will be doled out through the same people who got us into this mess as a nation, refused reasonable reforms, and now want to 'fix' the problem.  In simple words, people who haven't a clue, people who's ideas don't appear to be sound, don't work, and will just continue the failures of the past.  TARP will be another program for special interests only.  Sound ideas will not apply or be accepted.

What's a better risk of ideas?  Choose a path provided by people who've failed to reform and prevent the tsunami of national debt and toxic assets and bubbles?  Or, choose a path outlined by someone with a proven track record?

I think the best course is the proven track record.

jmho
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WhiskeyGirl
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« Reply #1 on: February 06, 2009, 03:42:46 PM »

Quote
The FDIC's Bair has proposed preventing about 1.5 million foreclosures by rewarding lenders willing to share the costs of defaults on restructured loans, which might allow more homeowners to hang on to their homes.

"What I've gathered is that the FDIC proposal has gained some traction within the Treasury," Senate Banking Committee Chairman Christopher Dodd, a Connecticut Democrat, told reporters.

Quote
A host of policy-makers has warned that, unless the financial system is stabilized by removing toxic assets, it will be difficult or impossible to ensure an economic stimulus program that is sported by refreshed lending will work. (Reporting by Glenn Somerville, David Lawder and Kevin Drawbaugh; Editing by Leslie Adler)

Why don't these banks write off the toxic assets?  Open and honest accounting?  Get rid of the bad debt once and for all?  Why should taxpayers take on all these bad debts?   This just doesn't make sense...unless it was a plan to destroy the nation and the plotting continues.

http://www.reuters.com/article/governmentFilingsNews/idUSN0539103320090205

jmho
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It doesn't do any good to hate anyone,
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WhiskeyGirl
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« Reply #2 on: February 06, 2009, 09:49:17 PM »

There was a man speaking about the mortgage amendment...

His biggest contribution was something like "Won't we be embarassed if the president includes this in the TARP package to be released next week?"

TARP should be cancelled.  They spent enough in this stimulus to blow the budget for generations to come.  Money is not evil, the pursuit and destruction and pillaging to get it is!!!

Return the nation to integrity.  Honest and fair dealing.  America for Americans, an American stimulus package to benefit Americans.  Who is going to bail the U.S. out?  Who's going to provide us with welfare and charity?

It sounded like words of desperation, much like the automakers looking for money last year.  GM was day away from closing the door.  It made me think that the stimulus package must be filled with giveaways for special interests and folks that are just looking to pay bonuses and make some quick money at the expense of taxpayers.

I imagine that a year or so from now, there will be few jobs created.

What kind of jobs will they be?  Construction only?  Visa applicants "IT" only? 

Where are the jobs for pink or white collar workers?  Factory workers that used to make garments?  Single moms?

This whole administration is filled with good old boys networks and paternalism.  I am also worried that the new miracle economist board is filled with people will probably speed up the printing of money, collapse the currency, and only find jobs for men. 

Instead of choosing leadership and ideas from those with a proven track record like Sheila Bair at FDIC, the leader has chosen those that have very different track records.  I can only imagine what kind of program there will be for troubled mortgages, who will get all the money and how FEW people will actually be helped.  Just more political pork.  No miracles, just pork for special interests.  Business as usual - irresponsible government - federal, state, and local. 

When does the change come?  When will change leadership be elected in the country?  When will state and local leaders be held accountable?  Just like Wall Street, the fed will pour money into state and local communities, and responsible people get zip.  Nothing. 

Women have been directed to the back of the economic bus and the patriarchs rule the land of the new anointed dictator.  Welcome to the new America - jobs for everyone, special interest group bonuses, except those that are female.  It's a new kind of inclusion and women don't seem to be welcome.

just my humble opinions
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All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
WhiskeyGirl
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« Reply #3 on: February 07, 2009, 07:27:44 PM »

I had the opportunity to watch some C-Span2 today.  There was a discussion from Thursday about where all the TARP money went.  Senator Shelby nailed it several times "Fool me once, shame on you, fool me twice..."

From memory, some member reported getting like 25,000 calls against continued TARP spending and just 200 for continued spending. 

I expected that the money would go to pay year end bonuses and such, and I believe I am correct.  I get a sense from the testimony of three people that oversight needs to be addressed.  It's fine to talk about transparency, but another to actually do something about it.

Does the team of the new administration inspire trust in the public?  Do they have proven track records of success?  Did they see the disaster coming?  The crisis?  Can they be depended on to do the right thing by taxpayers?

I would feel better if those managing the TARP process had proven track records.  I would feel better if those managing the TARP funds were not political appointees.  No trust, no fund.

I say give them one dollar, tell them to make it stretch and get back the TARP money that has already been squandered.  Whatever you recover, you may, with appropriate controls, dole out again for the benefit of taxpayers.  Cancel the remaining TARP funds. The cesspool of conflicting interests seems to be growing larger, not contracting.  

just my humble opinions

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All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
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