Ralph Nader asks, "Is There A Real Need for a Bailout?"

[Better Believe It]

Run time: 05:08 https://www.youtube.com/watch?v=42KibcmNRFY   Posted on YouTube: September 25, 2008 By YouTube Member: Views on YouTube: 0   Posted on DU: September 26, 2008 By DU Member: Better Believe It Views on DU: 539

 

[natureman]

1. Nader = Ego

We need everyone behind Obama. Even if you don't agree 100% with his policies. This is war! A McCain/Palin win would be disaster for the U.S.

[Postman]

2. Yeah, but Nader is correct.

[ghostsofgiants]

4. That statement right there should signal that you guys don't just need a new president...

But a whole new political system.

[Skink]

3. I think the Dem leaders should watch this.

His comment that there is money out there on the sidelines and if prices fall below what even the Government would pay there are institutions around eager to purchase this paper was spot on. Let the market drop Friday and see what happens Monday.

[Better Believe It]

5. They Are

[MindMatter]

6. Not just on the sidelines

There is PLENTY of money out there available to businesses that are well run and a good risk. True, banks are very nervous about making marginal loans, and that is a GOOD thing. That is the system cleansing itself. But for buyers with good credit histories, there is absolutely no problem getting a decent mortgage. For businesses that are well run, banks are falling all over themselves to extend their lines of credit.

Let's get to basics. Congress has nothing to do with the liquidity of our monetary system. That is 100% under the control of the Fed and Congress can't do a thing about it. If the Fed wants to create more money for the banks to have available to lend, they do it. Does not involve Congress at all.

So all this talk about a liquidity crisis is horse shit.

What they are asking Congress to do is to take the bad loans off the books of bankers, thereby making the banks more profitable. Now, why should we do that? They broke it, they bought it.