Dear Mr. President

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  • Posted By: brylski0 @ 10/22/2008 9:48:19 PM

    My eyes are sore from rolling, sigh. Regulation was in place ... so new regulation is the solution? So, when the next Republican adminsitration takes office, new compliant persons will again be placed at the head of regulatory agencies and the same thing will happen. It was interesting that none of the Nobelees mentioned the problem with our government - it was essentially held hostage by Frist in the Senate and Delay in the House. Our representatives didn't even have a chance to vote on practical solutions because bills that would not directly pump money into the Republican machine and supporters were never allowed to come up to vote. If we're a democracy, why does Congress have rules that disenfrancise our representatives? My third (and final) eye-rolling trajectory toward despair and hopelessness, is that all the Nobelers consider fixing the banks to save us from doom. I believe this is a cannard - wasn't economics based on commerce the opposing idea of economics based on property? There is reason to believe both premises are flawed. So why don't economists dream up new thought paradigms for economics? ... maybe they are not really thinkers but rather pols in disguise. A greater portion of the American population is much smarter today then in the past. I say we should gradually franchise the knowledge available in the general population to steer the country.

  • Posted By: ArlanE @ 10/22/2008 9:48:15 PM

    All of the suugestions here by reputable economists are grotesquely meaningless because this financial "crisis" was deliberately created by the Federal Reserve and other international wealth for the purpose of permanently lowering the living standard and power of the American citizenry so the United States can be forced with the minimum resistance into the coming global corporate-capitalist economy. We are not talking socialism here, we are talking fascism. Benito Mussolini said that the most accurate definiton of fascism is the complete merging of the Corporation and the Government. When the American finally realizes what has happened and that there will be no recovery from this "crisis" then it will wish it was under the power of something as friendly as socialism. There is is only one way to stop this from happening. The Federal Reserve must be abolished and the right and power to coin currency and regulate the value thereof must be given back to Congress so that the citizenry of the United States can control it by the power of the vote. YOU HAVE NO POWER OVER THE FEDERAL RESERVE AND THAT CRIMINAL ORGANIZATION WILL ENSLAVE YOU AND TAKE YOUR LAST DROP OF BLOOD WHEN IT NEEDS IT.

  • Posted By: Nowforthetruth @ 10/22/2008 6:45:38 PM

    See: http://www.newsweek.com/id/164972
    Stating that Gramm-Leach-Bliley Act wasn't what caused the meltdown, and noting that "economists on both sides of the political spectrum have suggested that the act has probably made the crisis less severe than it might otherwise have been." And also:
    http://www.factcheck.org/elections-2008/who_caused_the_economic_crisis.html
    Look and listen for yourself. Hear Obama in his own words discusses his links to both ACORN and the mortgage meltdown, and praises bundling and securitizing mortgages by banks as a means to float loans to the poor. Never mind the link commentators point of view, just listen to what Obama says in his own words. A picture is worth a thousand words. Maybe more in the case of Obama comments in the last half of the first youtube link.

    http://www.youtube.com/watch?v=Lr1M1T2Y314&feature=related

    http://www.youtube.com/watch?v=8vJcVgJhNaU

    See also:
    http://boards.msn.com/MSNBCboards/thread.aspx?threadid=808692&boardsparam=Page%3d2

    Below is a link to C-SPAN video clips of the Congressional hearings at roughly the time McCains attempt at S.190. to fix Fannie and Freddie. See for yourself who said what.

    http://www.youtube.com/watch?v=_MGT_cSi7Rs
    See also
    http://www.newsweek.com/id/164732 from this web site. (oops!) stating that Freddie Mac was spending tax payer money to target Republicans in 2005 who were trying to regulate Fannie and Freddies fraud. Democrats were not targeted, as the were all in the tank with Fannie and Freddie to kill the regulations. Hear that, the article admits that Republicans were trying to regulate, and Democrats were trying to stop it from happening as a means to facilitate the Community Reinvestment Act.

    The link below contains a purported list of the top 25 in Congress who got contributions from the folks at Fannie and Freddie. Obama is listed third, after Dodd and Kerry, even though Obama is just a junior Senator. Obama is followed next by Clinton. Barney Frank and Nancy Pelosi are on the list as well.

    http://www.investors.com/editorial/IBDArticles.asp?artsec=16&artnum=1&issue=20080918

    And the link below describes how some Democrats in Congress tried to use the original version of the bailout bill to divert money eventually recovered to groups like ACORN, a group Obama has a long association with. See: Wall Street Journal

    http://online.wsj.com/article/SB122247015469280723.html?mod=googlenews_wsj

    • Posted By: sheebe @ 10/22/2008 9:47:35 PM

      I like your style. Thank you for pointing out the truth. The sheep are blind. Maybe a few might open their eyes.

  • Posted By: ArlanE @ 10/22/2008 9:45:40 PM

    All of the suugestions here by reputable economists are grotesquely meaningless because this financial "crisis" was deliberately created by the Federal Reserve and other international wealth for the purpose of permanently lowering the living standard and power of the American citizenry so the United States can be forced with the minimum resistance into the coming global corporate-capitalist economy. We are not talking socialism here, we are talking fascism. Benito Mussolini said that the most accurate definiton of fascism is the complete merging of the Corporation and the Government. When the American finally realizes what has happened and that there will be no recovery from this "crisis" then it will wish it was under the power of something as friendly as socialism. There is is only one way to stop this from happening. The Federal Reserve must be abolished and the right and power to coin currency and regulate the value thereof must be given back to Congress so that the citizenry of the United States can control it by the power of the vote. YOU HAVE NO POWER OVER THE FEDERAL RESERVE AND THAT CRIMINAL ORGANIZATION WILL ENSLAVE YOU AND TAKE YOUR LAST DROP OF BLOOD WHEN IT NEEDS IT.

  • Posted By: the mechanic @ 10/22/2008 9:42:29 PM

    I like Mr. Prescott's advise. Government get out of the way . The government helped to cause this by putting pressure on the banks to get poeple into homes. The ecomomy will fix it's self. Most of the economists seemed very political by saying we need to get health care passed. Whats that have to do with the economy? Jim

  • Posted By: marley07 @ 10/22/2008 9:42:20 PM

    First off this crisis was created by governemnt. Second, it was American people trying to live in a way they never could afford. This is not a wall street problem or greed. It was a government created problem that wall street in turn made excessive. Free markets work and we are on the path of adding bigger governemnt and more regulation that will interrupt what this country was built upon. Regulation is needed but certainly not by the government. Everything they touch breaks. Change is all you hear about, but the kind of change we are hearing about will not create the change we need, it will create a deeper problem. We need to support small business which in turn will create jobs. It is the backbone of our economy. Spreading the wealth is definately not the answer. If i get a 4.0 in school becuase i work my tail off and my friend gets a 2.0 and does not work hard at all, why should i give my friend one point to make it even? Speading the wealth is a slap in the face to those who work hard at what they do. If you don't feel your getting a fair shake, then do something about as everyone has a chance to be successful in this country. Don't sit back and wait for the government to bail you out. Get off your behind!! So tired of the softness we have adopted. Fair Fair Fair..bunch of crap.

  • Posted By: sheebe @ 10/22/2008 9:42:16 PM

    Obama our savior? That is pretty sick statement. You must not know your bible very good. Or you don't believe in god. That is just sick.

  • Posted By: Nowforthetruth @ 10/22/2008 6:45:26 PM



    Who "Joe the plumber" may be is not the issue, though it's easy to see why the Dems want it to be. That's because the real issue is what Obama's comments to him revealed about Obama. In the exchange with "Joe the plumber" we find out that Obama really is as radical as his early political acquaintances, Davis, Ayers, Wright, etc., and that he is into the failed economic policy of wealth redistribution. Obama's tax and spending plans alone would be bad enough, but add Reid and Pelosi to the mix, with the three of them controlling both houses of Congress and the executive branch without any effective restraint, and you have something that should causes concern even among moderate Democrats.
    See Wall Street Journal: A Liberal Supermajority:

    http://online.wsj.com/article/SB122420205889842989.html

    And whether McCain won or lost the third debate is also not relevant. He succeeded in the first half hour to plant the seeds of a Reagan style wipeout. Reputable historians and economists overwhelmingly agree that the taxation imposed by Hoover and FDR, and the "stimulus" spending and public works programs of FDR, actually deepened and prolonged the Great Depression. It was the production demands of WWII that got the economy going again. And when the war was over, the economy promptly went into recession.

    See e.g. http://www.cbsnews.com/stories/2008/10/03/opinion/main4499465.shtml
    And
    http://newsroom.ucla.edu/portal/ucla/FDR-s-Policies-Prolonged-Depression-5409.aspx

    Point is, Obama's programs require him to tax, and his health care plan is a hidden tax on all business, large an small. In reality, it does not really matter who he taxes, those taxes are going to be passed through the economy. He has to tax, because it is they only way he can pay for his massive social engineering experiments. Any first year economics student knows that taxation is a tool used to contract an economy experiencing inflation, because it reduces demand by reducing the amount of money individuals and businesses have to spend. It is contractionary, which is exactly what you do not want to do when the problem is that the economy is contracting already into recession. Like Hoover and FDR, Obama's plans will only make it worse for longer.


    • Posted By: LsPr @ 10/22/2008 9:39:06 PM

      What about the "conservative" supermajority that until recently had been controlling both the executive and judicial branches?

  • Posted By: spitznoglec @ 10/22/2008 9:19:47 PM

    Coorperate greed and ignorance created the worlds finacal mess and bail outs and giving more monies to the ones that created this mess is like putting gasoline on a fire..Pumping water from a sinking ship doesn't make it sea worthy; the leak must be fixed. The love of money is the root of all evil. We have throwed all our values and respect out the window to gain dollars. Forgetting what this great country was all about is destorying us, our homes,our families,our very life.When a nation wants unlimited freedom in all areas with no regulation, or guide lines it becomes a tornado destorying anything that is in it's path. WE ARE THERE.THE STORM WON'T CEASE TILL WE CHANGE.

    • Posted By: marlifornia @ 10/22/2008 9:34:47 PM

      Check out oneforallmankind.org

  • Posted By: LsPr @ 10/22/2008 9:26:31 PM

    Pure capitalism is as evil as pure communism. If we cannot find a middle way, economically and diplomatically, nothing will change. A unilateral, unrestrained, laissez-faire, consumer-driven, energy-dependent, US "empire" (how that term disgusts me), whether under the leadership of a republican or democrat - will be a disaster. Short or long term. At least since Ronald Reagan, both parties have supported domestic and foreign policy agendas not designed by our supposed representative covernment, agendas that have done nothing for the betterment and welfare of the American people - neither party has addressed our energy dependence, neither party has addressed our ecologic responsibilities, neither party has addressed our drop in educational status, neither party has addressed our health care system, neither party has addressed the emerging powers in Asia, neither party has done nothing about everything. What makes anyone believe that this economic calamity is going to be addressed? Which one of the hundreds of public servants who can actually force change is going to do that? Everyone of these a-holes have enough wealth to ride out this storm ... and it will be business as usual because they won't suffer a bit. No drop in pay, no cut in pensions, no reduced health benefits, no down-sizing. And even if they do get voted out, do you really think they care? They may not sleep on beds of money, but it doesn't mean they can't. Screw them all.

    • Posted By: marlifornia @ 10/22/2008 9:34:07 PM

      Check out oneforallmankind.org

  • Posted By: LsPr @ 10/22/2008 9:32:31 PM

    Pure capitalism is as evil as pure communism. If we cannot find a middle way, economically and diplomatically, nothing will change. A unilateral, unrestrained, laissez-faire, consumer-driven, energy-dependent, US "empire" (how that term disgusts me), whether under the leadership of a republican or democrat - will be a disaster. Short or long term. At least since Ronald Reagan, both parties have supported domestic and foreign policy agendas not designed by our supposed representative government, agendas that have done nothing for the betterment and welfare of the American people - neither party has addressed our energy dependence, neither party has addressed our ecologic responsibilities, neither party has addressed our drop in educational status, neither party has addressed our health care system, neither party has addressed the emerging powers in Asia, neither party has done anything except channel wealth to the already bloated pigs. What makes anyone believe that this economic calamity is going to be addressed - except in terms of how to keep feeding the pigs? Which one of the hundreds of public servants who could actually force change is going to do that? Everyone of these a-holes have enough wealth to ride out this storm ... and it will be business as usual because they won't suffer a bit. No drop in pay, no cut in pensions, no reduced health benefits, no downsizing. And even if they do get voted out, do you really think they care? They may not sleep on beds of money, but it doesn't mean they can't.

  • Posted By: davbrns10 @ 10/22/2008 9:32:01 PM

    What's wrong with the idea of wind and solar energy? If I can either save money on my electric bill, or not even have a bill, then that sounds like a good idea to me.

  • Posted By: marlifornia @ 10/22/2008 9:30:09 PM

    80% of our Country's wealth is controlled by just 20% of the population. Whether or not you go to football games or basketball games, the movies... YOU ARE SUPPORTING the outragious salaries of these people!! It is time for the needs of our CITIZENS: health care, education, shelter, food, clothing and transportation to drive the fundamentals of our economy. oneforallmankind.org

  • Posted By: karlorama @ 10/22/2008 9:28:57 PM

    Mr. Monday, thanks for being the genius here.

    Joe Nobody in particular

  • Posted By: karlorama @ 10/22/2008 9:28:06 PM

    monday, you're a genius !
    thanks,
    Joe Nobody in particular, but wanting a fix for this worthless bunch of politicians.

  • Posted By: Acoff @ 10/22/2008 9:16:41 PM

    I think the economy is top down- it's not a tree. Who creates jobs, invests and makes large capital purchaes? Not hourly employees. What's good for businesses IS good for all Americans if/when NObama jacks up already too high corporate taxes capital will continue to flee overseas. I don't need a youtube video to understand that. These commentators are exactly wrong there is too much govt intervention and that is the problem in Finance, Healthcare, education and nearly everything else. What does govt do well?

  • Posted By: monday7108 @ 10/22/2008 9:15:13 PM

    Didn't Al Gore receive a Nobel Peace Prize for something he didn't and doesn't know squat about? That really gives me a warm and fuzzy feeling about 6 Nobel laureates telling us what we need to do. Bottom line is we need to socialize health care, shut up about reducing anyones taxes, stop trying to feed the public the idea that we can become energy independent by utilizing wind, solar etc. and that Nuclear Power is unthinkable. Finally and most important for the long terme health of this country we need to impose term limits on congress and Supreme Court justices.

  • Posted By: Deanalfred @ 10/22/2008 9:13:11 PM

    These august Nobel Laureates have given solutions that will extend the status quo. Infusions of capital to stimulate business will indeed extend the employment,,, of companies and workers overseas. We at present produce few onshore goods. Walk a Home Depot aisle, visit ANY appliance or electronics store. We produce nothing. And our money will continue to flow overseas. Buy from those you sell to. Employ your be



    Michigan has lost 250,000

  • Posted By: FedUpWithUSGovernment @ 10/22/2008 8:48:47 PM

    What advice is this? These were lukewarm solutions, at best, with a reiteration of what we already know. Thanks, Nobel laureates. Do they want to get PAID to give out the real solutions? Just ask the over 50+ economists who said - NO BAILOUT - what the real solutions are. The solutions will be painful to the ones who got us into this mess (good) - NOT to the American people. This is why our government is so hard-pressed to implement them and do the right thing.

    VOTE THE REPUBLICANS AND DEMOCRATS OUT OF OFFICE ON NOV. 4TH AND VOTE 3RD PARTY !!!!

    • Posted By: goodguys @ 10/22/2008 9:12:18 PM

      Way to go Fedup you take the words right out of my mouth. Watch the "Economy Fix" video to see the true answers. Thanks Dan thenopartyguy

  • Posted By: Deanalfred @ 10/22/2008 9:08:37 PM

    Not one of these august Nobel Laureates has addressed the problem. Not one. Each just suggests, and for the most part correctly, how to patch the status quo. The status quo is what brought us to this pass.

    If we stimulate business with an infusion of new capital, it will go to purchase the next batch or parts, goods and in doing so will extend the emp

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