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Never have so many done so little for so few!

By
Real Estate Broker/Owner with Independent Real Estate Broker DRE#00972295

This saying comes to mind this morning as I listen to the House of Representatives Financial Services Committee hearing on c-Span.

The Treasury Secretary Henry Paulson, Federal Deposit Insurance Corp Chairman Sheila Bair, and Federal Reserve Chairman Ben Bernanke all were there.  

Here is some of what was said:    Mr. Paulson said: "This financial crisis is unpredictable and difficult to counteract,".....we concluded it was only prudent to reserve our ... capacity, maintaining not only our flexibility, but that of the next administration.".......Some $290 billion of the first $350 billion authorized under the program already has been used or committed for use."  Mr. Paulson wants to reserve the balance of it for the incoming administration.  What's up with that!

Mr. Bernanke said: "........there were some signs of a return to more normal conditions in credit markets but conditions were still unsettled and many banks continued to restrict their lending throughout October."  I ask my self: What signs?

 

Ms. Bair, apparently is the only one that knows what she's doing!  Her programs are working, so they say!  

Why don't Mr. Paulson and Mr. Bernanke ask her for advice? 

My question is: What are signs of a return to more normal conditions?  Exactly how has the bailout help?  I can't seen how!  Can you?

I say it again,

Never have so many done so little for so few!

Posted by

Aida Pinto (562) 884-6196
Los Angeles County
Real Estate Broker



The Real Estate Maven : https://www.facebook.com/aRealEstateMaven?ref=hl

 

Short Sale, Probate and standard real estate expert.

Comments(4)

James Wexler
wexzilla.com - Scottsdale, AZ

well put, or maybe so many , have done so much, with so little results, is a way to put it, hard to believe cant make something work , even just a little

Nov 19, 2008 01:23 AM
Greg Knowles Santa Barbara Ca.
Fidelity National Title Group-Santa Barbara - Santa Barbara, CA

I can see how you have come to your conclusions. I certainly wouldn't want to be responsible for fixing the mess we are in.

Nov 19, 2008 02:41 AM
Lisa Glowacki
Lisa Glowacki - Rhode Island & Massachusetts - Tiverton, RI
Real Estate Broker - RI & MA

Hi Aida, I am so glad to see you posting again. How have you been?  In my opinion the bail out has not change one thing. Had they passed this bill with some idea of how they were going to use the money things might have been different but for now things will just remain the same or get worse. RI now is facing over 9% unemployment and heading to over 10%. The stock market falls way more than it recovers and everyday another big company is in trouble. But as I said glad to hear from you again on AR.

Nov 21, 2008 11:34 PM
Aida Pinto
Independent Real Estate Broker - Los Angeles, CA
Real Estate Broker (562) 884-6196

James: even just a little would help!  Thanks for your comment

Greg: I agree it's a mess and I'm glad I didn't create it nor responsible for fixing it--but unfortunately I am affected by it!   Thanks for your comment.

Hi Lisa---Thanks for stopping by my blog and yes I have been gone for a while, but I'm glad to be back.  Wow, 9% unemployment that's horrible!  I hope things get better for everyone's sake!  In the past, (when other recessions and bad markets happened) I never really didn't pay much attention to the economy or our government, but now I realize how important it is to get involved even if it's just to speak out!  I think we should let those buffoons, jokers, idiots people running our government know how we feel!

 

Nov 24, 2008 12:15 PM