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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Better chance for the taxpayer Posted by Tom on November 13, 2008 at 7:35 AM In Reply to: I'm still upset over the T.A.R.P,. posted by JK (the other JK) on November 12, 2008 at 2:26 PM I'm not particularily thrilled with Paulson trying to change the ground rules in the middle of the game either, or with bailing out credit card issuers or student loan lenders. But once you get beyond that I think the taxpayer stands a better chance of coming out whole. Again the devil is in all the details. I was always concerned at what price the govt might buy the toxic assets and with the mortgage securitization and all the other potential problems the taxpayer probably wouldn't come out whole. If nothing else, the admin expenses would probably sink the plan. There's no way on a project this big that anybody can micro manage it to ensure that the lenders wouldn't try to slip some very toxic assets to the govt or previously unknown liabilities surface after the acquisition by the govt. As far as bailing out the Big Three automakers in the long run it would be better to let them take bankruptcy and work out the problems that they and their unions caused, but that will never let that happen because there are too many west and east coast liberals plus all the representatives from the rust belt in Congress. The current environment didn't cause Detroit's problems, it only exacerbated them. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : I'm not particularily thrilled with Paulson trying to change the ground rules in the middle of the game either, or with bailing out credit card issuers or student loan lenders. : But once you get beyond that I think the taxpayer stands a better chance of coming out whole. Again the devil is in all the details. I was always concerned at what price the govt might buy the toxic assets and with the mortgage securitization and all the other potential problems the taxpayer probably wouldn't come out whole. If nothing else, the admin expenses would probably sink the plan. There's no way on a project this big that anybody can micro manage it to ensure that the lenders wouldn't try to slip some very toxic assets to the govt or previously unknown liabilities surface after the acquisition by the govt. : As far as bailing out the Big Three automakers in the long run it would be better to let them take bankruptcy and work out the problems that they and their unions caused, but that will never let that happen because there are too many west and east coast liberals plus all the representatives from the rust belt in Congress. The current environment didn't cause Detroit's problems, it only exacerbated them. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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