Soros: Repairing the financial system will not stop a severe worldwide recession. The U.S. consumer can no longer serve as the motor of the world economy, the U.S. government must stimulate demand.
Did a Fox news executive decide to go after Congressman Frank because O'Reilly was embarrassed in front of 800,000 people who caught the meltdown on YouTube?
That's right folks -- it's private profits and social losses. Instead of an effort to safeguard us, this plan takes from taxpayers to provide unjustifiable subsidies to financial institutions.
I believe now is the time for Obama to consider a bolder and more historic approach to the financial crisis by presenting to middle income Americans a step-by-step "big think" FDR-style New Deal program.
If we accept that collectively we are better off morally and economically with speeding recovery from the current crisis through avenues of forgiveness, many practical actions are possible.
Didn't the Wall Street bailout stop the economy's bleeding? No. The US has exported a ton of toxic mortgages to, well, everybody. Now we're all in this together.
I wouldn't wish the current economic situation on ourselves. But we're here, and I can find real cause for optimism in an electorate that suddenly understands what we're up against as a country.
The market did not understand that families buying homes would have an incentive to default on their mortgage obligations if housing prices stopped rising or actually declined.
I am angry. Disgusted. Disappointed. Nevertheless, I will vote for hope, even if scant and waning, because the alternative is just too frightening to consider.
The current crisis is the predictable (and predicted) result of a massive U.S. housing bubble, which itself can be traced in part to global economic imbalances that could have been prevented.
Don't let them tell you this economic meltdown is a complicated mess. It's not. Our national financial crisis is readily understood by anyone who has seen greed and hypocrisy.
There is much more to be done to clean up the economic mess flowing from the housing market crash, but the ill-considered federal bailout is likely to slow the process.
That's easy. You ask them how failure to pass the bailout will give us a Great Depression.
As the US economy continues to crater, there's plenty of blame to go around. Apparently, way around.
It's not just that McCain can't relate to have nots, it's that he doesn't really want to. He wants to pull the levers that Phil Gramm and others tell him work best, and he lacks the motivation to question whether these levers actually work.
Suze Orman is warning that if Americans are not careful, they will end up with no savings, no credit, no car, no house, no mortgage, etc. In other words, Americans are in danger of living the way I've been living for the past 25 years.
