09-25-2008, 05:27 PM | #1 |
Senior Member
Join Date: Jan 2006
Location: Clinton Township, MI
Posts: 3,126
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Another Cure for the Financial Mess
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09-25-2008, 06:35 PM | #2 |
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Join Date: Apr 2008
Posts: 63
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Guarantees applied to sub-prime securities/bonds (ala FHA) would have been a good idea 90 days ago, and a better solution than the $700B buyout. Gingrich is also a proponent of suspending Sarbanes-Oxley. Because the financial markets are now so mired in liquidity and yield crises, the "bailout" is a necessary evil. Markets have essentially been in a holding pattern this week. Even news of a possible plan provides some semblance of stability. Still many small to mid-sized banks who are technically insolvent and will not be saved by the bailout. Recovery will arduous and slow.
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