Soros Proposes Alternative Plan

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Kirata -> Soros Proposes Alternative Plan (10/1/2008 12:48:39 PM)
Soros has come out against the rescue package as currently crafted. He says Paulson's idea of having taxpayers buy up toxic assets is poorly conceived. Instead, he recommends using the money to recapitalize the banking system so that banks can start lending again, relying on bank examiners to determine the capital requirements of the various banks. It's an interesting read, The Hill reports the story here: http://thehill.com/leading-the-news/soros-floats-alternative-bailout-plan-with-dems-2008-09-30.html Soros FT editorial is here: http://www.ft.com/cms/s/0/d68e10cc-8f45-11dd-946c-0000779fd18c.html?nclick_check=1 K.

Vendaval -> RE: Soros Proposes Alternative Plan (10/1/2008 1:23:13 PM)
I am not an economic expert but am happy that debate and dialogue is happening rather than blindly following whatever the current Administration claims is needed. Now is the time for all the critical thinking questions to be raised, not after the fact and 20 years later when the next generation asks what the hell happened.

corysub -> RE: Soros Proposes Alternative Plan (10/1/2008 1:51:22 PM)
quote: ORIGINAL: Vendaval I am not an economic expert but am happy that debate and dialogue is happening rather than blindly following whatever the current Administration claims is needed. Now is the time for all the critical thinking questions to be raised, not after the fact and 20 years later when the next generation asks what the hell happened. I would agree that it is wrong to follow anything blindly that comes out of Washington...from either the Executive or especially the Pelosi/Reid Legislative Branch, which happens to have an almost non-existent poplularity with the public at around 10%! I also think the issue today needs the Bill before Congress to be passed with the protections and upside participation for the taxpayers in any recovery, as well as clear and well-defined oversight. We need this NOW to give the markets and the public confidence in the system...confidence that when they go to the bank their money will be there...and when they go to work next week, their job will be there. Once we see some stabilization in the credit market than we can go back and refine programs to better stimulate a recovery.

rexrgisformidoni -> RE: Soros Proposes Alternative Plan (10/1/2008 1:57:09 PM)
I've called both senators, both dc and local offices and my Representative twice voicing my disgust and disapproval.

popeye1250 -> RE: Soros Proposes Alternative Plan (10/1/2008 2:00:07 PM)
"Washington" needs to S.T.F.U. and listen to what The People want to do. Then act on it.

cloudboy -> RE: Soros Proposes Alternative Plan (10/1/2008 3:21:22 PM)
Its just mind boggling how these financial assholes complicated our mortgage system. The simplest of all financial transactions, a home loan, now has the overtones of whacked out, 1980s style junk bond financing.

cloudboy -> RE: Soros Proposes Alternative Plan (10/1/2008 3:22:48 PM)
quote: ORIGINAL: popeye1250 "Washington" needs to S.T.F.U. and listen to what The People want to do. Then act on it. The people want a stable economy and economic prosperity. Now what?

MrRodgers -> RE: Soros Proposes Alternative Plan (10/1/2008 3:38:22 PM)
quote: ORIGINAL: popeye1250 "Washington" needs to S.T.F.U. and listen to what The People want to do. Then act on it. Don't hold your breath and soon it will be too late...they are voting tonight on a bailout of wall street according to wall streets needs. There will be conflicts of interest, serious profits to be made and any number of foreign 'sovereign wealth' funds are already lurking like vulchers for the selling off of the rest of American labor's debt service.

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