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THE GOVERNMENT COULD END THE CREDIT CRISIS TOMORROW
Economist and investor Ed Yardeni says the government could end the credit crisis tomorrow if it targeted and maintained a 2% yield on the 10-year bond and guaranteed 4% 30-year fixed rate mortgages.
11/24/2008
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I agree completely, but I say provide the mortgages at 3%.
November 25, 2008 10:38 AM | Reply | Permalink
But then how are the Goldman Sachs/Citi/Morgan Stanley folks supposed to get their cuts?
November 25, 2008 11:56 AM | Reply | Permalink
Ya sure, but then it would no longer be the Responsible Homeowners' Triple Screwing Act of 2008.
November 25, 2008 12:21 PM | Reply | Permalink
Yes, isn't the current action of
throwing money (now estimates at
7 trillion) down an unaccoutable
black hole the last robbery of
the Bush Administration. Can anyone
prove that this is really due to
mortgages? What else is really
going on?
November 25, 2008 8:15 PM | Reply | Permalink
When gas skyrocketed almost overnight, the economy could not handle it. People were living on the brink of disaster, and when their fuel bills got too scary, they seized up. Too many vacations became stay-cations. America took the road less travelled and now even OPEC and the oil companies are feeling it. Prices shot up and they have not come down, except oil. Now the merchants cannot lower those prices because their volumes are down. That flushing sound you hear will be around for awhile.
November 26, 2008 2:35 AM | Reply | Permalink
But the goal is to bail out rich people so they can stay rich and keep buying martinis with diamonds in them.
November 26, 2008 12:18 AM | Reply | Permalink