AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.
I just wish that they had given more consideration to other alternatives, and moved on those alternatives much earlier, and had established proper regulation of our lending system prior to the bubble. The whole think was entirely avoidable.
You Libz get so indignant over TARP, ( most of which has been payed back ) but for some reason have nothing to say about the REAL bailout
Fannie and Freddie were taken into Conservatorship holding a accumulated 5 Trillion plus in debt.
On top of that the FED has been buying up their worthless securities at 40 Billion a month for years now.
Blaming Capitalism is refusing to acknowledge that it was Government intervention into the free markets for the purpose of guaranteeing '" fairness " thatled to the Housing crisis.
You can also add the bail out the hundreds of Millions of dollars that the Federal government has been paying since 2008 to pick up the Tab for the GSEs debt service AND legal fees.
All this turmoil is doing wonders for my precious metals.
And since there is nothing I can do to stop it (the bloodshed)...might as well enjoy it while it lasts.
Buy the ticket...take the ride.
'What kind of sick and twisted toy factory is this?'
'We are all the sum of our tears. Too little and the ground is not fertile, and nothing can grow there. Too much, the best of us is washed away.'
"Better to be dead and cool, than alive and uncool."
America was created(and succeeded) because it had thoughtful, intelligent leaders at it's inception. I kept hoping Iraq could find such men to lead them to success, but it looks like selfish men run the show. They don't have a George Washington to lead them, and that is what they needed.
Moderator's Warning: Closed for moderator review.