Comments on: Toxic Assets Plan: “Sweetheart Deal for Investors,” Says Sen. Graham

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By: NoBamaNoWay

NoBamaNoWay — Tue, 24 Mar 2009 21:33:30 +0000

correct. we should lead by example, not by arrogant bloviating.

By: Lillian

Lillian — Tue, 24 Mar 2009 17:48:48 +0000

The sheer arrogance of this!

The other G20 members reportedly tried to get in touch with Geithner and team but nobody was there to negotiate. Afterwards 0Fraudo attempts to contact the leaders using the media and they told him “No go!”. Now he tries to strong arm them using their citizenry?

Just WHO does he think he is? The rest of the world can clearly see his agenda and want no part in this. Maybe, just maybe he’ll get a bloody nose at the G20 and he’ll return home and make sure the Treasury Department can deliver a sound economic recovery.

Sheeeeesh! And quit making those speeches. Everyone can now see them for what they are – just words!

By: Ani

Ani — Tue, 24 Mar 2009 16:53:55 +0000

HARP,

Thanks so much for posting this — I read the article in its entirety and I really wonder how other nations will take to his telling everybody else what to do — he really sounds like Emperor of the world here.

It is also a little tough to be preaching about what the world “should” do when a lot of this real estate speculating, bad mortgages and toxic assets come from here. And he’s been in office for 2 months with no economic background whatsoever — suddenly he knows how to cure the world’s ills?

Do we have any economists on board here? What do you think of his prescription?

By: FrenchNail

FrenchNail — Tue, 24 Mar 2009 16:43:52 +0000

How arrogant can you be! This is “John Wayne” behavior, exactly what the rest of the world detest about America. This is going to antagonize even more the rest of the world not to speak of the G-10 leaders. This indulgent lazy deficient TOTUS does not get that when the US speak of leading the rest of the world hear bullying.

By: Katmoon

Katmoon — Tue, 24 Mar 2009 13:49:18 +0000

This is the other game plan, I believe as a “back up”

Source: washingtonpost.com/wp-dyn/content/article/2009/03/23/AR2009032302830.html?hpid=topnews
U.S. Seeks Expanded Power to Seize Firms
Goal Is to Limit Risk to Broader Economy

Timothy F. Geithner, the Treasury secretary, is expected to lay out the administration’s proposal in a hearing on Capitol Hill today. (By Brendan Smialowski — Bloomberg News)

By: Sassy

Sassy — Tue, 24 Mar 2009 13:38:17 +0000

I guess my first comment hit the spam filter.
Anyway, forget Geithner, Bernanke, and Greenspan.
I’m going to seek out a $20 fortune-teller!

By: American Girl in Italy

American Girl in Italy — Tue, 24 Mar 2009 13:24:26 +0000

I would be really leery as a new president, with no record of accomplishments or achievements, sending out an *i will lead you* message to the world.

“My message is clear: The United States is ready to lead, and we call upon our partners to join us with a sense of urgency and common purpose. Much good work has been done, but much more remains.”

I would imagine there will be a lot of leaders who will feel like they have been working already.

“Through our example, the United States can promote a global recovery and build confidence around the world”

it will be interesting to see how this is received.

By: Sassy

Sassy — Tue, 24 Mar 2009 13:24:17 +0000

I like Senator Graham’s style. I don’t need to agree with him on every issue, but right or wrong, he states his position…more than one can say for the wishy-washy cowards who never test their brain power.
Like food, housing is critical.
People were suckered into mortgages they could not afford, and millions were made.
Now the same people will be screwing the rest of us, and millions will be made.
Look for housing prices and rentals to sky-rocket once so many units are in the hands of fewer people!

By: lark

lark — Tue, 24 Mar 2009 13:23:36 +0000

This is economic theory chaos. New college textbooks are due since all economic theory up till now is now obsolete and archaic. You want to write one?

By: lark

lark — Tue, 24 Mar 2009 13:16:31 +0000

If a Republican were doing this stuff, they’d have no problem with it.

I don’t think that’s true. While the results may end up as similar, their methods are very very different. One method requires a lot of sweat and brain power while the other just a long steady panhandling.

By: lark

lark — Tue, 24 Mar 2009 13:11:56 +0000

The Obama administration seems to be masturbating to its mirror image on the wall and seizing the bed all for itself.

By: lark

lark — Tue, 24 Mar 2009 13:05:55 +0000

His message is extremely arrogant, self-loathing, inconsiderate, bossy, paternalistic, and pedantic but more than anything contradictory and coercive, as if he is the boss of everyone – a mafia boss of sorts.

By: devildog666

devildog666 — Tue, 24 Mar 2009 12:59:51 +0000

Maybe there is somewhere in the country where the TOXIC Assets Plan might be a good deal, but I can’t see it. Areas such as Detroit, MO or East Cleveland, OH where property value has gone down over 90% and the houses are stripped out shells are worthless. They can’t even sell them for what the annual real estate taxes are.

What companies will do that? If by some miracle the actually made a profit congress might retroactively tax it at 90%, and if they lost money the government is carrying 90% of the risk, so they’ll just take over the company.

By: olivia1998

olivia1998 — Tue, 24 Mar 2009 12:53:24 +0000

The only solution is term limits.