INSIDE BUSINESS

Ways We Can Fix This Giant Mess

Economists and businessmen from both sides of the aisle tell us what needs to be done to solve the crisis.

NEWSWEEK

Mar 31, 2008 Issue

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Discuss

Posted By: getzel @ 04/11/2008 10:58:30 PM

Comment: War ends We win: when we pass a law that makes the minimum price of gasoline at the pumps: $1.75/gallon; billion dollar/million barrel per day ethanol stills will not be built without protection from OPEC monopoly pricing rusting out our new stills.

The ethanol investors do not build ethanol distilleries because monopoly OPEC would lower the price to rust out their billion dollar million barrel a day ethanol still. Brazil is energy independent: ethanol; All their cars come built running on ethanol; Archer Daniel Midland made millions on $1.00 gallon ethanol in the 1990s; that trumps any canard/invalid objection to ethanol. Use Cellulose ethanol, not corn ethanol.

This will balance the trade deficit, create full employment, bring down the price of fuel, break the monopoly on the pricing of fuel, balance the USA government budget, create less pollution, make the USA energy independent, and end the war because we will stop funding the bad guys everyday at the gas pumps..

Intelligence analyst: Getzel

Sharia people are at war with The West because Arabs, Persians, & Sharia people believe Islam can not survive against a free market, free speech, republic with: womens rights & no honor killing: murdering women is legal in Sharia.

Arab, if only Israel: is only an excuse, propaganda, for Islamic terror; as we see that wherever the Mohammedans bump against another culture the Mohammedans say the same thing they say about Israel. In India: same thing, in Kosovo: same thing, In Israel: same thing. In Darfur: same thing. In Thailand: same thing, the Philippines: same thing. Wherever the Moslems are contiguous with another people: The Moslems say the same thing they say about Israel: If only: Sharia and no freedom of speech to criticize Islam
Posted By: sivere @ 04/06/2008 3:46:49 PM

Comment: The fed and the investmnent banks created this mess, now thety are patetd on the back for keeping it from outright exploding. Ok, the Fed has done a decent job in recent weeks to save us from doom, BUT THEY ALSO CREATED THE MONSTER to start with.

The Fed encouraged derivatves, which now sit at $516 trillion dollars, dwarfing the world's GDP. When they needed more paper to feed the derivatives monster, they created the subprime crisis. They screamed for paper, and paper, and mortgage lenders gave loans to anyone who cuold sign. This fed the bubble for a while, but then collapsed.

Please see siv0.com. We need to TakeBackTheFed.com.
Posted By: loanmod @ 03/30/2008 4:02:22 PM

Comment: The banks should be outsourcing their loss mitigation efforts to companies that specialize in reaching out to homeowners, like MIZNA ( loanmod.com ) and NACA (naca.org) . These companies can save banks hundreds of millions of dollars by guiding/counseling homeowners, and processing loan modificaitons.
Posted By: regina_mexico @ 03/27/2008 2:16:42 PM

Comment: This article was really interesting as it showed future actions that can be implemented to improve.
If you would like to get some innovative business ideas visit this website:
www.wisenewbusinessideas.info
Posted By: bfuruta @ 03/27/2008 5:12:29 AM

Comment: Prevent foreclosures without a taxpayer bailout. The lender, borrower, and investor who bought the mortgage will pay by: lowering the loan balance and stretching out the loan so that the monthly payment is affordable.
Posted By: getzel @ 03/26/2008 10:40:09 PM

Comment: War ends We win: when we pass a law that makes the minimum price of gasoline at the pumps: $1.75/gallon; billion dollar/million barrel per day ethanol stills will not be built without protection from OPEC monopoly pricing rusting out our new stills.

The ethanol investors do not build ethanol distilleries because monopoly OPEC would lower the price to rust out their billion dollar million barrel a day ethanol still. Brazil is energy independent: ethanol; All their cars come built running on ethanol; Archer Daniel Midland made millions on $1.00 gallon ethanol in the 1990s; that trumps any canard/invalid objection to ethanol. Use Cellulose ethanol, not corn ethanol.

This will balance the trade deficit, create full employment, bring down the price of fuel, break the monopoly on the pricing of fuel, balance the USA government budget, create less pollution, make the USA energy independent, and end the war because we will stop funding the bad guys everyday at the gas pumps..

Intelligence analyst: Getzel

Sharia people are at war with The West because Arabs, Persians, & Sharia people believe Islam can not survive against a free market, free speech, republic with: womens rights & no honor killing: murdering women is legal in Sharia.

Arab, if only Israel: is only an excuse, propaganda, for Islamic terror; as we see that wherever the Mohammedans bump against another culture the Mohammedans say the same thing they say about Israel. In India: same thing, in Kosovo: same thing, In Israel: same thing. In Darfur: same thing. In Thailand: same thing, the Philippines: same thing. Wherever the Moslems are contiguous with another people: The Moslems say the same thing they say about Israel: If only: Sharia and no freedom of speech to criticize Islam
Posted By: WarDog @ 03/26/2008 6:39:24 PM

Comment: You think that the central bank and the federal reserve along with the MIC. Is stealing your money?. you would be right. But people wont look up the facts. Dig a little in the well boy's Dig a little deeper
Posted By: getzel @ 03/26/2008 4:33:14 PM

Comment: War ends We win: when we pass a law that makes the minimum price of gasoline at the pumps: $1.75/gallon; billion dollar/million barrel per day ethanol stills will not be built without protection from OPEC monopoly pricing rusting out our new stills.

The ethanol investors do not build ethanol distilleries because monopoly OPEC would lower the price to rust out their billion dollar million barrel a day ethanol still. Brazil is energy independent: ethanol; All their cars come built running on ethanol; Archer Daniel Midland made millions on $1.00 gallon ethanol in the 1990s; that trumps any canard/invalid objection to ethanol. Use Cellulose ethanol, not corn ethanol.

This will balance the trade deficit, create full employment, bring down the price of fuel, break the monopoly on the pricing of fuel, balance the USA government budget, create less pollution, make the USA energy independent, and end the war because we will stop funding the bad guys everyday at the gas pumps..

Intelligence analyst: Getzel

Sharia people are at war with The West because Arabs, Persians, & Sharia people believe Islam can not survive against a free market, free speech, republic with: womens rights & no honor killing: murdering women is legal in Sharia.

Arab, if only Israel: is only an excuse, propaganda, for Islamic terror; as we see that wherever the Mohammedans bump against another culture the Mohammedans say the same thing they say about Israel. In India: same thing, in Kosovo: same thing, In Israel: same thing. In Darfur: same thing. In Thailand: same thing, the Philippines: same thing. Wherever the Moslems are contiguous with another people: The Moslems say the same thing they say about Israel: If only: Sharia and no freedom of speech to criticize Islam
Posted By: LaVern @ 03/26/2008 3:38:28 PM

Comment: The March 31 issue of NEWSWEEK was best explained by Joseph Stiglitz in the article "Ways We Can Fix This Giant Mess" in the economy. If the Federal Reserve bails out Bear Stearns, he said "It seems fairer to help poorer American households, rather than putting taxpayers' money at risk. We really don't know much about the values assigned to the collateral, and what the risks are." That's why we need federal regulations on the HEDGE FUND DEALERS and the DERIVATIVES they are using. We should support Senator Hillary Clinton and Senator Obama because they want to TAX THESE HEDGE FUND DEALERS because in many cases, they aren't paying their fair share of federal income taxes and if they are offshore, none at all. If they keep eliminating the middleclass, there will come a day when they realize we are the strength of the economy.
Yours truly, LaVern Isely
Posted By: LaVern @ 03/26/2008 3:30:57 PM

Comment: The March 31 issue of NEWSWEEK was best explained by Joseph Stiglitz in the article "Ways We Can Fix This Giant Mess" in the economy. If the Federal Reserve bails out Bear Stearns, he said, "it seems fairer to help poorer American households, rather than putting taxpayers' money at risk. We really don't know much about the values assigned to the collateral, and what the risks are." That's why we need federal regulations on the HEDGE FUND DEALERS and the DERIVATIVES they are using. we should support Senator Hillary Clinton and Senator Obama because they want to TAX THESE HEDGE FUND DEALERS because in many cases they aren't paying their fair share of federal income taxes and if they are offshore, none at all. If they keep eliminating the middleclass, there will come a day when they realize we are the strength of the economy.
Yours truly, LaVern Isely
Posted By: getzel @ 03/26/2008 12:33:35 AM

Comment: War ends We win: when we pass a law that makes the minimum price of gasoline at the pumps: $1.75/gallon; billion dollar/million barrel per day ethanol stills will not be built without protection from OPEC monopoly pricing rusting out our new stills.

The ethanol investors do not build ethanol distilleries because monopoly OPEC would lower the price to rust out their billion dollar million barrel a day ethanol still. Brazil is energy independent: ethanol; All their cars come built running on ethanol; Archer Daniel Midland made millions on $1.00 gallon ethanol in the 1990s; that trumps any canard/invalid objection to ethanol. Use Cellulose ethanol, not corn ethanol.

This will balance the trade deficit, create full employment, bring down the price of fuel, break the monopoly on the pricing of fuel, balance the USA government budget, create less pollution, make the USA energy independent, and end the war because we will stop funding the bad guys everyday at the gas pumps..

Intelligence analyst: Getzel

Sharia people are at war with The West because Arabs, Persians, & Sharia people believe Islam can not survive against a free market, free speech, republic with: womens rights & no honor killing: murdering women is legal in Sharia.

Arab, if only Israel: is only an excuse, propaganda, for Islamic terror; as we see that wherever the Mohammedans bump against another culture the Mohammedans say the same thing they say about Israel. In India: same thing, in Kosovo: same thing, In Israel: same thing. In Darfur: same thing. In Thailand: same thing, the Philippines: same thing. Wherever the Moslems are contiguous with another people: The Moslems say the same thing they say about Israel: If only: Sharia and no freedom of speech to criticize Islam
Posted By: sharkman @ 03/26/2008 12:26:11 AM

Comment: I keep hearing that we are in a big mess. I took out my first mortgage lone about six years ago. I was told that I had no mortgage credit so I would have to get a fluctuating interest rate. My mortgage handler told me to come back in a year and for fifteen hundred dollars we would switch to a fixed rate. When the year was up My mortgage had been sold twice in that time period. The mortgage handler who promised to refinance me was nowhere to be found my interest rate went from seven percent to fourteen percent. I have very good credit but this did not seem to matter. My loan was only fifty thousand. The cheapest refinance charge I could find was for eighty five hundred dollars. I called around to find a decent deal and no one would give me a good rate. The banks do not deserve any type of bail out this rich bankers can just bite the bullet. I went to the bank pulled the fifty thousand out of my savings account paid the loan off and will never trust another mortgage company. If the banks want to play games with honest hard working people the can sit on all the houses. The big banks can pay the taxes and upkeep for these properties. Time to shine a light on these theives.
Posted By: lostagain @ 03/25/2008 12:03:41 PM

Comment: 3/25/08 Posted by John Staton Economatrician and Financial Consultant;

The Banks are not and have not been doing what Banks are supposed to be doing for over 18 years. They stopped underwriting risk and assigned it a number, called a FICO score. This score meant nothing that anyone could understand, but allowed people who could not afford to buy something today to buy it through credit. When the Banks decided to raise funds for additional loans, rather than hold the risk associated with risky loans, they sold it to all kinds of investors. The FDIC was powerless to change this since they did not examine nor supervise any of the big banks, which were part of the Federal Reserve System and the Comptroller of the Currency. These big banks are now having to be bailed out by the Federal Reserve. As Rubin says above, if we could quantify the value of the underlying assets then we could price them and move on. As long as the Banks aren't required to mark to market their investments on a daily basis, this will continue unabaited. The system is broken, and the market place is guessing at the value, so it will continue to decline.
Posted By: ken mitchell @ 03/24/2008 9:05:22 AM

Comment: You need to read this and pass it along. It is the truth about Bush.

3/21/08
George Bush was on the news the other day and said he can not do anything in the short term about the price of oil? When I heard him say this I thought;
"You mean to tell me he can not make the speed limit 55 again?"
Think about this, please, really. You can't tell me the price of oil would not go down immediately.
Dick Chaney is in Saudi Arabia today asking the king to increase production because the price of gasoline is bring down our economy. Why is he there?
Why can???t George Bush lower the speed limit which would increase the inventories of oil on the world market creating a glut of oil? This is something he could have done all along but has not. Why? Why does he keep putting the responsibility on everyone else to fix this situation? He can fix it. What is waiting for? This would stimulate the economy. I did not like driving 55 either, but I need to be able to live and pay my bills so driving 55 does not seem so bad.
George Bush needs to called out on this immediately and I mean right now. He could do this with a signature. Some leader of the free world.

Ken Mitchell
Posted By: ken mitchell @ 03/24/2008 9:03:05 AM

Comment: BUSH CAN FIX THIS RIGHT NOW, BUT REFUSES TO DO IT!!!!!!!!

3/21/08
George Bush was on the news the other day and said he can not do anything in the short term about the price of oil? When I heard him say this I thought;
"You mean to tell me he can not make the speed limit 55 again?"
Think about this, please, really. You can't tell me the price of oil would not go down immediately.
Dick Chaney is in Saudi Arabia today asking the king to increase production because the price of gasoline is bring down our economy. Why is he there?
Why can???t George Bush lower the speed limit which would increase the inventories of oil on the world market creating a glut of oil? This is something he could have done all along but has not. Why? Why does he keep putting the responsibility on everyone else to fix this situation? He can fix it. What is waiting for? This would stimulate the economy. I did not like driving 55 either, but I need to be able to live and pay my bills so driving 55 does not seem so bad.
George Bush needs to called out on this immediately and I mean right now. He could do this with a signature. Some leader of the free world.

Ken Mitchell
- Posted By: lostagain @ 03/25/2008 12:09:59
  
  Comment: The speed of 55 mph will cause all of the nations trucks that hall all of the freight to loose 15 mph and 20-30% less fuel milegage. They are built to go 65-75 most efficiently. Secondly, if everyone who is driving their care by themselves would add a rider, it would cut the use of fuel by 1/2. Lastly, we have not produced a single new distiller of gasoline thanks to the Democratic part and several special interest groups in over 20 years, so the demand exceeds the supply at ALL times. You are evidently too young to know about Jimmy Carter and Richard Nixon who tried to do some pretty stupid things and started this whole mess we are in today.
Posted By: Holly Garfield @ 03/23/2008 11:12:41 PM

Comment: I would like to add one change that needs to be done to prevent a recurrence, or at least minimize the chance. The Fed chariman position is an appointed position that has the power to change fundamental policy. I was in broadcasting when that was deregulated during the '80s. Virtually every step was orchestrated by Congress. Thanks to the government you can get more information on the contents of a $1 bag of potato chips than you can on a $1 billion CDO. The financial sector is as important to business as much more heavily regulated industries. We need to not only regulate the industry, but regulation needs to be done through Congress for policy items. The Fed chairman needs to be required to enforce key regulations and go through Congress for basic policy changes. Key agencies such as the FCC, FAA, FDA, etc. are currently run this way, it's about time the Fed was run the same way. The Fed has the power to regulate many of the problems that occurred, but the chairman chose not to enforce the regulations. The chairman should never have been allowed to have that option. I doubt that Congress would have passed the deregulation process. To me this is the first failure in the string of failures leading up to the current situation. If the first step doesn't happen then the problem never occurs.
Posted By: metzlerd @ 03/22/2008 10:38:32 PM

Comment: I think most are missing the boat on this. The banking industry is trying to get tax payers to bail them out of poor business decisions. This is just another way of shifting the wealth to large companies. Realestate will bounce back just by giving a chance for the dust to settle.
Bailouts should be limited to homeowners who are trying to pay the mortgage on their primary residence, and that's it.

The larger issue with the economy is related to the fact that much of the business is now owned by foreign companies. If we buy everything from other countries, and we allow foreign countries to own US property, we are simply shifting the wealth away from our country. In a sense we are selling off our country.

Large companies and corporations also concentrate wealth into a select few. Wealth flows from the bottom to the top. Bailing out large companies does not cause wealth to flow through the economy. It just dumps it at the top. The only way to stablize the economy is to focus all wealth shifts to the poorest section of the economy, or the bottom of the economy.

Finally our economy contains alot of hidden cost that is piling up.
Pollution is one of those hidden costs. We need to shift away from polluting industries to clean industries based off of renewable resources. Otherwise these hidden costs will just continue to pile up.
The other is our national debt. Our government must balance its budget every year not just on rare occasion. We must demand this of our leaders. If they can't do it, they should provide a set of options that come up for a popular vote, so that we can decide for them.

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Ways We Can Fix This Giant Mess

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Posted By: getzel @ 04/11/2008 10:58:30 PM

Posted By: sivere @ 04/06/2008 3:46:49 PM

Posted By: loanmod @ 03/30/2008 4:02:22 PM

Posted By: regina_mexico @ 03/27/2008 2:16:42 PM

Posted By: bfuruta @ 03/27/2008 5:12:29 AM

Posted By: getzel @ 03/26/2008 10:40:09 PM

Posted By: WarDog @ 03/26/2008 6:39:24 PM

Posted By: getzel @ 03/26/2008 4:33:14 PM

Posted By: LaVern @ 03/26/2008 3:38:28 PM

Posted By: LaVern @ 03/26/2008 3:30:57 PM

Posted By: getzel @ 03/26/2008 12:33:35 AM

Posted By: sharkman @ 03/26/2008 12:26:11 AM

Posted By: lostagain @ 03/25/2008 12:03:41 PM

Posted By: ken mitchell @ 03/24/2008 9:05:22 AM

Posted By: ken mitchell @ 03/24/2008 9:03:05 AM

Posted By: lostagain @ 03/25/2008 12:09:59

Posted By: Holly Garfield @ 03/23/2008 11:12:41 PM

Posted By: metzlerd @ 03/22/2008 10:38:32 PM

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