MB Civic

This entry was posted on Monday, February 25th, 2008 at 7:13 PM and filed under Articles, Economics, Legal, Politics. Follow comments here with the RSS 2.0 feed. Skip to the end and leave a response. Trackbacks are closed.

One Response to “The Subprime Hangover Here Comes The $739 Billion Taxpayer Bailout”

1. ben stagg said:

   ‘the biggest economic scandal in the last half century’ the article says.
   But it happened all before in the 1979/85 period. Did you forget already?
   I do like the way Mike Whitney writes, for instance: ‘But what does the poor taxpayer get out of the deal besides soaring inflation, bulging fiscal deficits, and the “warm and fuzzy” feeling that he’s helped some tasseled-shoed charlatan keep his larder in the Hamptons full of Dom Perignon and crab cakes?’
   But he makes questionable assumptions. he rightly blames financial inovation and deregulation as the prime causes for the mess, but then goes on to say; ‘And that started with the bankers.’ No, it started with deregulation, without which there could have been no inovation, and deregulation was and is a political issue.
   Control lending perameters and you can control the problem. Do I hear any of the Presidential hopefuls committing themselves to such action? Maybe I am just not listening hard enough.

   Posted on 26-Feb-08 at 3:12 am | Permalink