The stock market continues to tank. Banks are teetering on the brink. General Motors’ auditors say that it likely will end up in bankruptcy. Meanwhile the new Congress and President are settling in for their very familiar dance. As I’m getting tired of hearing the same ol’ same ol’, I think it’s time that we just deal with what needs dealing with. Continue reading
I just read an article about how both the Congress and the Bush Administration (with the blessing of Fed Chair Bernake) want to issue another “stimulus package” to strengthened the economy still reeling from the credit crisis that, it was said, required $700 billion to avoid collapse. Let’s make this simple: it’s a bad idea.
First—and this is key—our political Continue reading
Now that we have a bailout package, we need to turn our attention to those being most directly affected by the financial meltdown: the people living with risky mortgages. Here are some suggestions. Continue reading
Here’s another one of those things that Congress needs to address, but won’t: the practices of the consumer lending industry. There once was a time when going to a loan shark was considered to be a really stupid thing to do, but compared to what the “legitimate” credit industry is getting away with, that’s no longer the case. Continue reading