By Art Smith. Posted Thursday, May 8, 2008 at 11:45 pm Filed Under: Banks, Economy, FairTax, Housing, IRS, Mortgages, TAXES, US Congress
Not so much because tinkering with the economy on a regular basis is messy as much as having Congress doing the tinkering is just dangerous. Remembering that the Prime Directive of nearly every member of Congress is “Do nothing that interfere with my re-election”, and the corollary is “Take care of my deep pocket [...]
By Art Smith. Posted Saturday, Mar 29, 2008 at 9:39 pm Filed Under: Economy, Federal Reserve, International Markets, Markets
Let Friday, early news about a plan to broadly expand the power of the Federal Reserve was released. Evidently the plan will be formally announced in a speech by Treasury Secretary Paulson.
I’m a bit out of breath.
McGehee was the first I saw to make mention that something like this was seriously in the works. He [...]
By Art Smith. Posted Tuesday, Mar 25, 2008 at 11:15 pm Filed Under: 2008 Presidential Election, Banks, Barack Obama, Business, Democratic Party, Economy, Federal Reserve, Hillary Clinton, Markets, Mortgages, Recession
Well, Hillary appears to be attempting to make EVERYONE happy.
More government money to rescue folks who simply bought more house than they could afford. According to a Wall Street Journal story Tuesday, Hillary proposes:
Freezing Forclosures for 90 days
Freezing Interest-rate Resets on Sub-primes for 5 years
Establish a $30 billion fund so states and cities can [...]