Topic: Economics
Shelia Bair is Right My view on Shelia Bair's aid plan.by Joe W.
(libertarian)
Friday, December 5, 2008
I've said it, there is someone with the balls to proposes a plan that is not only an anti-bailout but actually has been proven to work. The FDIC head has proposed giving homeowners who are 60 days late on their mortgage a chance to reduce high interest rates and extend the length of the loan if they qualify. Now here's the part I like: she used the program to help IndyMac customers and it's working. Those customers didn't get a free-ride, they just have to pay less for a longer period of time at a different rate. This is a very good and inexpensive solution and helps those on the lower end of the food chain. However Secretary of the Treasury-select Tim Geithner wants to fire Bair because she's supposedly not a team player and thinks his plan is better. Let's see Timmy-boy thinks he has a better plan that COULD WORK work and wants to fire the dude that has a plan that DOES WORK. Well, hopefully Obama will be smart enough to listen to Bair.
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The views expressed in this
article are those of Joe W. only and do not represent
the views of Nolan Chart, LLC or its affiliates. Joe W. is
solely responsible for the contents of this article and is not an
employee or otherwise affiliated with Nolan Chart, LLC in his/her role as a columnist.
This sort of a plan sounds promising, and without much pain. The devil is in the details, and those would have to be very detailed, and written in CEMENT!
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