Thursday, October 23, 2008
"Republicans for Change"—for OBAMA!
We Dems can get into our own echo chamber at times as well, sometimes, why is why when I stumbled across this little video I took a listen. I was looking for something illuminating, and there is that--but this group's comments are more about how badly Bush/McCain have strayed than about how super Obama is. Except for the fact that Obama's character is so solid and strong that he can engender enough trust for these people to get out of their comfort zone and, well, trust him.
But let them do the talking ... It's reassuring enough that people can still think ...
But let them do the talking ... It's reassuring enough that people can still think ...
Thursday, October 09, 2008
Isn't this what accountants are for?
U.S. May Take Ownership Stake in Banks - NYTimes.com
There will be no solution until we know what is on those balance sheets. So far all we've done is add oil to the engine of a car that is out of gas -- might be a good idea, but the car isn't going to start because of it. We should spend 100 billion unraveling the accounting mess before we do anything else, I think.
But neither the individual corporate bailouts nor the Fed’s enormous emergency lending programs — including up to $900 billion through its Term Auction Facility for banks — have succeeded in jump-starting the credit markets.
“The core problem is that the smart people are realizing that the banking system is broken,” said Carl B. Weinberg, chief economist at High Frequency Economics. “Nobody knows who is holding the tainted assets, how much they have and how it affects their balance sheets. So nobody is willing to believe that anybody else isn’t insolvent, until it’s proven otherwise.”
There will be no solution until we know what is on those balance sheets. So far all we've done is add oil to the engine of a car that is out of gas -- might be a good idea, but the car isn't going to start because of it. We should spend 100 billion unraveling the accounting mess before we do anything else, I think.
