Money Beat

Mr. O'Neill's suggestion is probably a good one for those who understand such things. I do not have the capacity to make determinations about the global economy or the state our financial institutions are in right now. I have to trust that the "people in our government" do have that capacity and will make decisions based on what is best for their constituents. That's their job, and I choose to believe that they will obtain the necessary facts to decide the basis for the actions that they take. Mr. O'Neill assumes they won't or don't. He's a damn NOpublican, isn't he?!

BAILOUTS, by definition, are a BONUS for ALL of these BAILOUT BUSINESSES - not just for some at AIG. "In Debt We Trust."

People in govt. have no care to make the right decision, it is all about the money. If you think the dems including BHO care if your home defaults or you cannot afford healthcare, think again, they are worried about perception. I don't need a "celebrity president" I need a president who know something about finances. Obviously BHO is not that person. I am a lower class blue collar employee. So not all conservatives are rich. If we had all the facts before the last election, we probably would have no president. I have never known any politician who has not bent a rule to get in office. But I guess we are supposed to have patience while our country is in ruins....BHO needs to do Something other than talk. I'm personally tired of his sermons,and his crying racism every time someone disagrees with his ridiclous decisions. Does he actually have a college degree or did harvard just give him a sheepskin, so they wouldn't be accused by BHO of racism......

USdoomed - I do think democrats in office are concerned with the housing problems and the health care problems, and they are trying to do something about that, unlike the republicans in office who could not care less whether you do or don't have access to health care. And where your silly interjections of racism come from is beyond me! Your brain is all jumbled up, isn't it?!

I don't buy the argument that "we can't bear to face the truth(s) revealed" if Mr. O'Neil's recipe would be put into practice. From the outrage expressed on these blogs, in daily conversations, sometimes between perfect strangers, we're sick of having the wool pulled over our eyes; we're sick of being treated like backward children; and we're sick of having to pay the price for the greed of others who've been making more in one year than many of us have or will make in a lifetime. It's the working stiffs making less than $100K at the highest, and mostly those barely keeping their heads above the poverty level who've been hurt by the outdated philosophy of "Don't tell the children; they wouldn't understand; they'd be scared." Well, brothers and sisters, we ARE scared and we're furious and we ARE Americans. Because we are who we are, bring on the truth. WE CAN HANDLE IT AND WE WILL HANDLE IT.

This is the truth and though it's hard to imagine, we the people, must make our voices heard.

http://wwwDOTyoutubeDOTcom/watch?v=eAaQNACwaLw

Paulson designed this 'Ponzi' scheme (TARP). We understand everyone wanting us to buy more stock in order to keep the market up...fix the system...then we'll have 'confidence' to invest.

And that FIX is simple and oblivious, but everyone seems not to be addressing it directly...
- it's 'Corruption-Corruption-Corruption'.
ie. special interest groups, earmarks, lobbyist, elimination of rules and regulations, the financial sector having contributed over $5.2B to political campaigns, same people who got us in this mess are now tying to get us out (humanly impossible...they will, and have instead spent most of the time & money trying to cover-up the industry's underlining behavior).

Corruption is the 'root' problem here...as it is everywhere. Until that gets fixed first...everything else is redundant...we're just pouring $$$ into the abyss! Wall Street has always been Ponzi Street, and the Golden Rule always applies; 'never invest $$$ you can't afford to lose'.

Fix the 'corruption' - then we'll have 'confidence'.
The solution – 'Transparency-Transparency-Transparency'.
How? Start now Restructuring (nationalize, fix, resell) all the zombie banks - the FIDC does this every day.

I recently came across your blog and have been reading along. I thought I would leave my first comment. I don't know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.

Ruth

http://laptopmessengerbag.info

I am sorry I missed this story..I greatly admire Mr. O'neil, and he is not partisan..and has served democratic as well as republican admin. I read his book, he was the first to quit the Bush administration, and VERY honest in his criticism of bushs admin..I think mr. Oneil is an american first party second, and has done work with U2 in Africa...I would like to see Mr. Oneil on some of the talk shows and round tables...as opposed to the same old tired faces and political hacks..thank you I will think about what you said

Mr. Paul O'Neil's comments are well taken but as a former Treasury Secretary he could have had the opportunity to implement some of his ideas. He may want to share his ideas with the administration but they have already heard and, probably, rejected or are implementing some of his policies. The American citizen is not savvy or educated sufficiently in economic principles to understand the enormous problems occurring in the banking system.