well its something...

"Every plan we’ve heard from Treasury amounts to the same thing — an attempt to socialize the losses while privatizing the gains."

 Methinks he'd like to see this tilt to opposite direction.

ps. just by bizarre coincidence I have to add that some anti-obama items just dropped into my email from my staunch liberal family. wth??

Anyone here care to place a bet as to the "lists" of toxic assets being circulated amongst the elite before they are released to the general public? 

To entice private investors like hedge funds and private equity firms to take part, the F.D.I.C. will provide nonrecourse loans — that is, loans that are secured only by the value of the mortgage assets being bought — worth up to 85 percent of the value of a portfolio of troubled assets.

The remaining 15 percent will come from the government and the private investors. The Treasury would put up as much as 80 percent of that, while private investors would put up as little as 20 percent of the money, according to industry officials. Private investors, then, would be contributing as little as 3 percent of the equity, and the government as much as 97 percent.

Talk about spreading the wealth!  OMO, this is going to get really, really ugly.

I hope he fails, too.

 Yea, John F'in Kerry, ain't lookin' all that bad now, is he Krug ?

"You will never find a more wretched hive of scum and villainy. We must be cautious. "

                   - Ben Kenobi on  Liberals, and the MSM.

                               " The Cake is a lie."   

"...come back to Congress for a plan that might actually work."

FOR a plan that might work?  As in, expect the Congress to come up with any bright ideas?  I'll assume that's a typo and he meant "with" -- nobody's that stupid.

And don't go to hell with a load of parkas just yet.  It's Geithner's plan, you see, and the administration's problem -- this from a director of the chorus that blamed Bush personally for everything that occurred on his watch.  Krugman's just the progressive prophet crying in the wilderness, preparing the way of the O.

Wow...I, too, am shocked here...didn't see the pigs fly by, but I'll keep looking out the window every now and then.

Now even Krugman?

The list is growing....heheheee

Sooner or later, media people actually do have to maintain some form of credibility with the public.  You can only cover someones butt for so long and lose just so much of your credibility, before you have to point out the flaws, otherwise no one will believe you either.

As I'm watching this run away train head for the station, I wonder what happens if everyone realizes the inmates really are running the asylum.  Where do we go from there?  We have more than 20 months to go before a new congress can reverse anything this group does, that's pretty scary. 

On the positive side, the Republicans gave the liberals the candidate they wanted.  The Democrats gave the liberals the candidate they wanted.  The liberals have the congress they wanted, for the most part, and they're within striking distance of a filibuster proof congress.  This is a pretty scary situation, to me at least, and you have to wonder if the people will vote next time, to avoid this situation happening again.  If that's the case, I feel sorry for the east coast Democrats since, if people really want to cure this problem, it will work it's way from East to West and only if the East Coast does their job will the West Coast feel good enough to send their Democrats back to Congress. 

Also, Pelosi is proving to be a disaster with everyone except her district.  What happens to her?  Can she possibly become bipartisan enough to save her Democrat majority?  Between her, Harry Reid, and Rahm Emanuel, we have the perfect storm of Democrat partisans who would rather sink the ship than compromise with the Republicans, it does give one hope.

Election 2008-God's way of showing us that elections count.  

Is the one where governemnt gets the hell out of the way.

There are over 250M American problem solvers ready, willing, and able to takckle this problem head-on.

Here's how:

Suspend the confication of all payroll taxes for a year.

Suspend the collections of business taxes for six months

Banks would lend money RESPONSIBLY, but attach a monthly assurance charge, say 0.25% of principle remaining.That cummulative of the Assurance Charge is RETURNED, untaxed, to the borrower upon payment of the note. The Assurance Charge would be used as an offset incase of default. It would provide additional capital to lenders as they make new loans:

 $25,000 @ 5.49% 48 mo Car loan would look like this:

Pay    Beg   Pay   Prin   Int   EndBal  Cum Int  AssChg   new pay 

  1      25K   581   466   114   24.5K      114        61.33     642

 12     19.2   581   490     90   19.2       1.2K       48.13    629

 24     13.7   581   519     63   13.1       2.1K       32.96    614

36       7.3    581   548     33    6.7        2.7K       16.93    598

48       578   578   575    2.65    0         2.9K         0        581

When this was over, a total of $1,523 would be REFUNDED to you as a "REWARD" for paying your note. $1,500 TAX FREE to go out and stimulate the economy some more.  The bank has made almost 3K in finance charges, which equal more capital for them. (Isn't that what they are screaming that they need!)

In the ownership of that new car, I pay normal state taxes, registration fees, gasoline taxes, tolls etc,.   

Now, I'm not a numbers guy, but MAYBE, just MAYBE, the 250M problem solvers might be willing to go with a plan that combines BOTH, lower taxes  AND a TAX FREE bonus for helping stimulate the economy.

I think that if I had my confiscated taxes back in my paycheck, I would be willing to do my part in helping stimulate the economy by injecting capital into it, rather than having it redistributed by the administration. 

Looking forward to your feedback

If you can read this, thank a teacher. If you can read it in English, You're welcome - Deskpilot, AM(H)1 (AW), USN (Ret)

Krugman only does the most friendly of interviews. I remember him on O'Reilly a couple of years ago and he was like a scared little mouse. For someone the far-lefties idolize, he's very unimpressive in person.

So...what's the punchline?  What does PK suggest (god, how I loathe that man)?  A "properly socialized" economy?