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View Diary: Stiglitz, Galbraith, and McCain Advisor Call for $1 Trillion Stimulus (57 comments)

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  •  And that's what is so scary. (8+ / 0-)

    Even the smart people I admire agree we have to throw a lot of money at the problem, but they don't know how.

    I was shocked this morning to hear on NPR that the Treasury geniuses are now mulling yet another option: giving low interest rate mortgages to homebuyers.  And while I sort of like the sound of it, aren't these the exact same bastards who said that was the whole problem to begin with -- making it easier for people to buy houses?

    Hope you enjoyed it, Sarah, 'cause we just kicked your silly winking folksy lipsticked ass back to Alaska. Now shut the fuck up and stay there. Also.

    by Kaili Joy Gray on Thu Dec 04, 2008 at 11:25:23 AM PST

    [ Parent ]

    •  Not really (3+ / 0-)
      Recommended by:
      itsmitch, Eloise, TomP

      Making it easier for anyone to buy a house isn't the same as lowering the rates. Nearly anyone could qualify for some sort of loan  but banks are now tightening up credit.

      And of course, there's the predatory lenders problem.

    •  a subset of the bigger problem (2+ / 0-)
      Recommended by:
      outofthebox, TomP

      Looks like the banks are clamping down on doling out credit while pocketing the bailout money.  They're supposed to be increasing loans with that money, to help stimulate the economy.

      So the Treasury is figuring out ... ever so slowly ... that maybe they should cut out the fat middlemen and cut the loans directly to consumers.

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