I listen to the Newest plan for the housing market by Senator Clinton. This one made much more sense than the other bailout plans she had. But one of the things that struck me was how far behind the curve government is. When they actually start doing things to bailout folks usually it is too late and the market has turned. Even the Bear Sterns bailout is interesting as last night I heard a gentlemen talk about how if the Fed holds these mortgages long enough they will actually make money !! They apparently have done so in the past.
This leads me to the newest Clinton plan. No where in this plan is any oversight or regulation on lenders who made this mess. The only talk of oversight or change is in relation to sold loans. We as the taxpayers are footing the bill for this. How ? By lower interest rates. Your dollar is worth less. This makes it easier for the bigger boys to borrow to gobble up the big boys who are in trouble. The Chairman from Bear Sterns isn't selling his house. The Merrill CEO got his parachute. You got higher prices, higher unemployment, and a bad housing market.
Where is the check for every Realtor who took it in the wallet over this mess? When do we get bailed out ? Certainly the newest Clinton plan makes a lot more sense the older ones. The drug companies rip us off, and the Administration who is in their pockets, says we cannot go to Canada for prescription drugs. The oil companies rip us off at the pumps and make record profits. Now the Banks are doing it too. Where in the plan are they regulated ?
Not to get off the subject but suddenly an image of the soon to be former President Bush's new library popped into my head. I think it will be in the shape of an Oil Rig with the internal supports shaped like a dollar sign , and a top dome shaped like an Aspirin. I am ranting a little here but unless you just landed here from another galaxy you can see who controls our politics. Like him or not the message of change resonates for good reason.