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Throwing a “TARP” Over Economic Reality? No. No Bailout.

Started by TLF · 9 months ago

I’ve posted a copy of the proposed bailout legislation online in html format, which is easier to read, copy, and paste. Considering its size and significance, I urge you to review it and share it with others.
I pointed out before that my employer, the Cato Institute, has se ... Continue reading »

3 comments

  • MikeRT

    9 months ago

    I'll never understand why the public is so passive in the face of a proposal that would shift $2,500 of out their pockets and put it into the hands of failed businessmen. Granted, there is some public culpability here, as it was Congress that revised the law to force lenders to lend money to less desirable customers in the name of fighting racism, poverty and all of the usual left-wing monsters. Once again, our great moral uplifters look less like white knights in shining armor going off to fight dragons, and more like Don Quixote jousting with windmills.

    Time to buy guns and gold.
    reply
  • donnaklopez

    2 months ago

    Now, what if the government came in and bought $700 billion dollars worth of beach sand? Current holders of beach sand would get a tremendous windfall, and the government would get a lot of beach sand, but the market for beach sand would not be restored. It would only Karls Mortgage Calculator return when beach sand was again priced at a value that people believed was right. Taxpayers would be out $700 billion and the market for beach sand would be no stronger than before.
    reply
  • Daniel

    1 month ago

    I must say that this idea behind the bailout plan, it seems, is to remake a market for this paper by having the federal government buy it.
    home mortgage
    reply

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