My head is starting to hurt too. I may have to do some more study on this, but I am fairly certain that in the past we have met with leaders without preconditions in order to try tough diplomacy in a situation that we deemed potentially threatening to us or our allies. I just am not understanding why such meetings get ridiculed today.
I don't think anybody is guaranteeing that it would work. I'm just still not seeing the absurdity of engaging in tough negotiations. I personally would not want to be sending my children into harm's way without exhausting every other possible means.
And yes, I was trying to soften the blow after mentioning your beloved Esther.
Stew the problem is we think differently that the East does. They will smile to your face and stab you in the back. I agree with PO straight talk is the best way. But that might be a Texas thing.
__________________
Happy moments, PRAISE GOD.
Difficult moments, SEEK GOD.
Quiet moments, WORSHIP GOD.
Painful moments, TRUST GOD.
Every moment, THANK GOD.
Stew the problem is we think differently that the East does. They will smile to your face and stab you in the back. I agree with PO straight talk is the best way. But that might be a Texas thing.
Yes, it sure as shootin' is!!!
You got to know when to hold 'em, know when to fold 'em,
Know when to walk away and know when to run.
You never count your money when you're sittin' at the table.
There'll be time enough for countin' when the dealin's done.
You got to know when to hold 'em, know when to fold 'em,
Know when to walk away and know when to run.
You never count your money when you're sittin' at the table.
There'll be time enough for countin' when the dealin's done.
lol sing it girl.
__________________
Happy moments, PRAISE GOD.
Difficult moments, SEEK GOD.
Quiet moments, WORSHIP GOD.
Painful moments, TRUST GOD.
Every moment, THANK GOD.
it works as well as anything if we are going down this road of eliminating risk.
but risk is the controller in our economy. when people dont have to worry about risk, real risky behavior becomes the norm.
then the economy has no chance. (which is where we are right stinking now)
Any comments on this, Ferd?
McCain’s plan, however, is designed to go even farther than Dodd-Frank.
This essentially would replicate existing legislation written by Democratic Sen. Chris Dodd (Conn.) and Democratic Rep. Barney Frank (Mass.) to give the Federal Housing Administration the authority to guarantee up to $300 billion in bad loans.
Dodd-Frank, which was signed by President Bush last July, was strongly opposed by a cabal of conservatives who said it forced taxpayers to bailout out greedy lenders and irresponsible home buyers.
Doug Holtz-Eakin, senior policy adviser to the McCain campaign told reporters on a conference call Wednesday morning, “We know there’s been a lot of talk about stabilizing financial markets and using direct purchase authority out of the administration but it does not seem that has been targeted effectively at least in the public discussion on the real problem, which is the housing market. It’s also true that were initiatives, the Dodd-Frank proposals to help some homeowners but they weren’t very broad in scope and they were typically efforted to help 400,000, 500,000 homeowners in an economy where we have many, many times that who are troubled.”
“We can help literally millions of people,” Holtz-Eakin said. “The first step is that you have to desire to refinance…the question is, how many people will pick up the phone.”
McCain’s plan, however, is designed to go even farther than Dodd-Frank.
This essentially would replicate existing legislation written by Democratic Sen. Chris Dodd (Conn.) and Democratic Rep. Barney Frank (Mass.) to give the Federal Housing Administration the authority to guarantee up to $300 billion in bad loans.
Dodd-Frank, which was signed by President Bush last July, was strongly opposed by a cabal of conservatives who said it forced taxpayers to bailout out greedy lenders and irresponsible home buyers.
Doug Holtz-Eakin, senior policy adviser to the McCain campaign told reporters on a conference call Wednesday morning, “We know there’s been a lot of talk about stabilizing financial markets and using direct purchase authority out of the administration but it does not seem that has been targeted effectively at least in the public discussion on the real problem, which is the housing market. It’s also true that were initiatives, the Dodd-Frank proposals to help some homeowners but they weren’t very broad in scope and they were typically efforted to help 400,000, 500,000 homeowners in an economy where we have many, many times that who are troubled.”
“We can help literally millions of people,” Holtz-Eakin said. “The first step is that you have to desire to refinance…the question is, how many people will pick up the phone.”
if the plan is for the government to refinance at rist mortgages, I dont really have a problem with that per sey.
but if the plan is to reduce the amount being paid back as part of the refi then once again we have crossed that line of removing risk from society.
Risk of failure is the thing that keeps people from getting really really stupid. when that risk has been removed by the government, what stops people from even more risky behavior? NOTHING>
I am AGAINST taking the pain out of stupidity because that pain is what keeps you from doing somthing dumb the second time around.
that is why when I tell my son not to do something because he might get hurt, I will often let him disobey me so he WILL get hurt. He learns 2 lessons. Listen to dad, and dont do things that will get him hurt.
Our government is removing that pain in such a way that will lead to larger more painful failure in the future. and THAT is vastly more stupid than the stupidity of getting a loan you cant pay back or giving a loan to someone you know cant pay you back.
__________________ If I do something stupid blame the Lortab!
if the plan is for the government to refinance at rist mortgages, I dont really have a problem with that per sey.
but if the plan is to reduce the amount being paid back as part of the refi then once again we have crossed that line of removing risk from society.
Risk of failure is the thing that keeps people from getting really really stupid. when that risk has been removed by the government, what stops people from even more risky behavior? NOTHING>
I am AGAINST taking the pain out of stupidity because that pain is what keeps you from doing somthing dumb the second time around.
that is why when I tell my son not to do something because he might get hurt, I will often let him disobey me so he WILL get hurt. He learns 2 lessons. Listen to dad, and dont do things that will get him hurt.
Our government is removing that pain in such a way that will lead to larger more painful failure in the future. and THAT is vastly more stupid than the stupidity of getting a loan you cant pay back or giving a loan to someone you know cant pay you back.
It looks like, from the quote above, that they are speaking of re-finance. McCain wasn't very clear on that last night.
this is a newer approach that isnt part of the bailout package but is a novel idea to keep people in their homes and help stablize home prices.
I am not sure who came up with the idea first, but McCain seems to be making this a centerpiece pitch.
which is going to make conservitives mad. Basically he is saying to the idiots who got loans they couldnt afford that he is going to fix thier idocy.
Basically it works like this, the Treasury buys these distressed assets.
Then they identify the loans that are really bad where the home owner is in default, cant make the payment and the value of the house has fallen below the amount of the loan.
Then Treasury renegotiates the terms, lowering the acutal face value of the loan (Lets say the borrowed 150K but now the house is worth 100K they take the 150k loan and turn it into a 100k loan). Then the home owner may be able to afford the new lower face value loan (that will also have a much lower interest rate as well) and can keep the house, and pay the new loan.
on face value I think this is a terrible idea. and I think I heard that it will cost 300 BILLION bucks.
Do we have a figure on what it would cost if those same bad loans continue to default and cause more bank failures?
__________________
In essentials, unity. In non-essentials, liberty. In all things, charity. Augustine
..and that was the one quiet dig that McCain delivered - "how much will the fine be?"
To be fair though, those of us who purchase health insurance are already paying "the fine" on uninsured people. Talk to anyone in the health care field and they'll tell you that uninsured procedures and bills in the health system are what drive the costs of purchasing good health insurance up. My wife works for the Mercy Health System and the amount written off to "charity" is staggering.
Obviously, that in turn drives up the cost of every procedure like an MRI or CT scan, which in turn drives up my insurance premiums. I've been paying the fine for the uninsured for years now.
__________________
In essentials, unity. In non-essentials, liberty. In all things, charity. Augustine
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