Given your response, my guess is that you don't even know what the Commercial Paper market is. You obviously have ZERO understanding of how the banking system facilitates economic growth. Time for an Econ. 1 class, my friend.
Yupe. I will suggest one deal. Form a 700B national bank that buy non-financial commercial paper. Guys like Catapillar, Deere will get the loan. Allow/encourage PE, hedge fund to participate in non-financial commercial paper. Once the government gets the non financial comercial paper rolling, the crisis is over. You banks can decided whether you want to be a zombie bank or mark to market and face reality. When the dusk is settled, we will see some new banks and some old banks will be gone. This is the definition of free market.
Global as well as domestic commerce does not occur with the use of cash. Again, your thinking is rather naive.
Thank you sir. The short sighted worry-warts just don't seem to get it. This is nothing more than Wallstreet/Government trying to create a hostage situation, with "the economy" as the hostage, and the american people as "rich guy begin extorted for his money". Actually I'm amazed there hasn't been a run on Washington along with Riots.
It won't necessarily be a better one. It will just be a little bit different. In this latest revision DEMs gave up a bit too much of what they wanted. In the end, they couldn't pull quite enough votes. Now they will go back and put in a couple little things that the DEMs were forced to take out, which will be just enough to convince the DEM majority to vote this through. This next revision will almost surely be just a touch more liberal than the last one. The GOP reps who voted against this are going to vote against anything put on their desk. There are few DEMs voting against the bill on principal, but rather because they removed the portions that they liked. If they put a few of those portions back in, they will get just enough votes to pass it.
With all due respect, you sound like yet another person on ET that failed their basic Econ. 101A class in college. If you think that the commercial paper market is operating in a "healthy" manner, you obviously have no clue.
Still handing out Econ 101 lessons Landis? Seems your the one who can't seem to come to grips with this.
Ron Paul voted against the bill. Period. Keep pumping money in and make the dollar worthless and we will have much greater problems than this. Please watch the video of Ron Paul today.