Friday, December 10, 2010

Krugman forgot about the home owners

krugman still crying about tax deal  when he should be crying about Obama meeting with the bankers as they plan to keep the economy thriving with billions of bones to the executives.  The tarp has been useless in helping people who truly need help.  Krugman,  as many economists, have missed the the boat on the bailouts and the other alphabet soup projects.  They have not helped get the root of the problem and the banks are still dictating the direction of the economy.  The bank bailout did nothing more than make the American Tax payer suffer as they are the only people left to deal with repercussion of loss in real estate value.  I am starting to feel like a broken record but until there is true progress on the housing front we will be unable to have a true middle class.  the opportunities that were afforded previous generations are going to evaporate as the economists like Krugman lose focus on the real issues. 
There are previous plans that were used in other countries to deal with toxic assets.  We have a choice to use one that worked or one that didn't work as our model.  So far the choice has been to prolong the crisis to aid the failing banks and their executives while leaving the home owner with the bill for the criminal activity of the "too big to fail" financial institutions. 

Decision Points
Kindle Wireless Reading Device, Wi-Fi, Graphite, 6" Display with New E Ink Pearl Technology

Bailout Nation, with New Post-Crisis Update: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy

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