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Just Another Panic Monday
Author: Raine
Date: 04/07/2008 13:01:16
God Morning again everyone... It is Mondee...I woke up and . My alarm went off, and I turned it off by mistake, then suddenly I realized what time it was . I promise that audicon blog will be coming one day.
So I perused the headlines, and came across this From the Guardian UK:
There is far more at the link, But it seems as tho Wall street is addcited to the Federal reserve. 200%? 34 BILLION DOLLARS A DAY?
If the Federal reserve found a way to funnel that money straight to Americans I bet you would see this recession end very quickly. Even just a fraction of it to people who are on the verge or already have lost their homes because of these banks and institutions. Could you imagine if the Feds actually gave just a fraction of that money to those in foreclosure, therebye allowing them to stay in their homes AND pay off the mortgage? Seems like a win win... the banks get their money and people keep a roof over their heads. When people have security in their houses (a constitutional right I might add) the consciousness of a nation rises. People feel better and good things happen.... But I digress. Why this could never happen becauseregular folk would never qualify for a loan like the ones the feds are giving Wall Street... :grumble:
This entire scheme, and I call it that because it is now the feds just flowing money in Wall street with complete abandon and no real solution to a critical financial issue this country is going thru, is a sham. There is no stopping this it seems.
It has been my opinion that the only way for a country to get out of a recession, is to put money in the hands of the people. Not those on top. Trickle down economics is what this is and it DOES NOT WORK. It's more of the same. We need to start helping those who are TRULY affected by the financial Meltdown in the country. And I can tell you, handing out a few hundred bucks to a few people in America is not the answer.
Giving people a break on thier mortgages, keeping them in their homes, creating job training programs, building new roads and fixing our infrastructure by using the labor of good Americans... the way FDR did... these are the things that will fix America. Not giving a blank check to Wall street, with STILL no regulation.But get this, also from the article: They never thought the banks would take advantage?!?! That is hilarious! 
Ignorant and naive as well. IF the banks would screw over millions of americans, what would stop them from doing the same to the Feds? Stupidity abounds when you have family members in denial about the MoneyMeth addict that keeps begging for just a little more money for food -- rarely does that happen, you know the money goes towards more MoneyMeth. It's a vicious cycle.
We need Congress to step up to the plate on this one, and we need our candidates to speak more forcefully on this issue, because it has to stop. Wall street needs some tough love, and an intervention.
*sigh*
So I perused the headlines, and came across this From the Guardian UK:
Fears are mounting that Wall Street banks are relying too heavily on tens of billions of dollars in loans made available by the US Federal Reserve. Their borrowing levels have rocketed by almost 200 per cent to $38bn (£19bn) a day in just three weeks.
There is far more at the link, But it seems as tho Wall street is addcited to the Federal reserve. 200%? 34 BILLION DOLLARS A DAY?
If the Federal reserve found a way to funnel that money straight to Americans I bet you would see this recession end very quickly. Even just a fraction of it to people who are on the verge or already have lost their homes because of these banks and institutions. Could you imagine if the Feds actually gave just a fraction of that money to those in foreclosure, therebye allowing them to stay in their homes AND pay off the mortgage? Seems like a win win... the banks get their money and people keep a roof over their heads. When people have security in their houses (a constitutional right I might add) the consciousness of a nation rises. People feel better and good things happen.... But I digress. Why this could never happen becauseregular folk would never qualify for a loan like the ones the feds are giving Wall Street... :grumble:
This entire scheme, and I call it that because it is now the feds just flowing money in Wall street with complete abandon and no real solution to a critical financial issue this country is going thru, is a sham. There is no stopping this it seems.
It has been my opinion that the only way for a country to get out of a recession, is to put money in the hands of the people. Not those on top. Trickle down economics is what this is and it DOES NOT WORK. It's more of the same. We need to start helping those who are TRULY affected by the financial Meltdown in the country. And I can tell you, handing out a few hundred bucks to a few people in America is not the answer.
Giving people a break on thier mortgages, keeping them in their homes, creating job training programs, building new roads and fixing our infrastructure by using the labor of good Americans... the way FDR did... these are the things that will fix America. Not giving a blank check to Wall street, with STILL no regulation.But get this, also from the article:
The Fed has capped the amount available to all banks at $50bn, although insiders said it never imagined the banks would take advantage of the entire facility. Analysts and economists now fear it is being too heavily exploited, and that banks may be using it to delay facing up to liquidity problems.
Ignorant and naive as well. IF the banks would screw over millions of americans, what would stop them from doing the same to the Feds? Stupidity abounds when you have family members in denial about the MoneyMeth addict that keeps begging for just a little more money for food -- rarely does that happen, you know the money goes towards more MoneyMeth. It's a vicious cycle.
We need Congress to step up to the plate on this one, and we need our candidates to speak more forcefully on this issue, because it has to stop. Wall street needs some tough love, and an intervention.
*sigh*
