As others have said, "I thought Obama ran on a rather different agenda."
After putting consequence amounts of money into bank stocks to protect them from insolvency the government announced a desire for a public private partnership to invest more money into markets. The private sector saw the none-plan and pulled large amounts of money out of the relevant stocks in a sell off.
Dems hit W fairly hard about his "extortion note" of a none-plan for the first trunk of TARP money. Now, team Obama, drop a new plan. Step one is do more of what W did but let congress intervene more. Step two is keep thinking for a wile and get back to us with better ideas.
Private sector money wants back in at the right time. They know that big fortunes are made at times like these. What are they waiting for? Largely they are waiting for government to work out all it's spastic convolutions. Government is so big and unpredictable and hostel to "profiteers" that it could wreck any investment with the stroke of a executive branch pen. So private money tends to wait government can go to weeks with out changing directions.
The best government act is to write a public plan that clearly describes what the government will do. The difference between a so-so plan and a perfect plan is smaller than the difference between a stable plan yesterday and a hope for a plan tomorrow.
Smart people prefer to make their bets after they have learned the rules of the game. The government wants to make the rules up as it goes along. Fiddle music by fire light.
Imagine the seen. As your, women and children first, life boat moves slowly away from the sounds of survivors in the cold Atlantic, you notice the captains shoes under the woman?s coat he used to sneak into the first boat.
As the TARP and Stimulus projects lumber forward in profound complexity one wonders what they will look like in hind site after the urgency subsides.
http://www.washingtonwatch.com/blog/2009/01/18/stimulus-bill-text/ You read it and give me a summary.
What self serving laws got slipped in all the excitement?
Remember Freddy and Fanny looked good until they didn?t. Subprime used to mean progress not boondoggle. If it looks this bad now how can we predict it?s after taste. Remember the rush to get debit cards to Katrina victims. ?That looked good in the cold dawn light of a strip club parking lot,? he said sarcasticly.
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Credit If banks won?t lean let other people do it like credit unions. Rather than give banks money for nothing tell them government will match 1 for 1 interest received on loans they make in the next six weeks. They would find money and people to borrow it.
Housing Wave cap gains tax on homes bought in next six weeks.
Jobs Wave two years of the employers side of payroll tax on new hires in the next six weeks provided that the total number of employees for that employer is higher than it has been in the last year.
Consumer Spending Wave employee side of payroll tax up to the median individual income for 25 weeks.
That all might cost a trillion dollars.
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Timely Couldn?t
http://www.pbs.org/newshour/bb/middle_east/jan-june09/israelelection_02-11.html The Online NewsHour 2/12/09
News Hour had a good discussion. Check out the whole thing at the link.
?Dismal prospects for special envoy?
AARON MILLER: Exactly. You now have to add to that, although the crisis isn't the same order of magnitude, an Israeli divided or broken house. And broken houses in the Middle East don't lead to bold and historic decisions.
When peace has come, very rarely, it's because bold Israeli prime ministers -- Menachem Begin, for example, Yitzhak Rabin -- and bold Arabs -- Anwar Sadat, King Hussein, even Yasser Arafat in his first incarnation -- had the power to make these decisions.
We're out of the age, frankly, of heroic politics when it comes to the Arab-Israeli conflict. And that is going to present the Obama administration with a huge challenge. George Mitchell is an extraordinary negotiator, talented man. I have profound respect for him. But the Obama administration is all dressed up, but there's nowhere right now for them to go.And the more George Mitchell goes there without producing something, the more he becomes part of the political furniture. That's what happened in the Clinton administration, and that's something that an American president must prevent happening again, not being taken seriously by tiny powers who are all too interested in promoting their own political agendas at the expense of ours.??..?
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