tag:blogger.com,1999:blog-1866229763096892118.post9098151358344467607..comments2023-04-26T10:41:41.244-05:00Comments on The Bedford Hillsian: TARP Quotesthe unbeatable kidhttp://www.blogger.com/profile/07837510231614022057noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-1866229763096892118.post-11910872202132839432009-01-29T18:26:00.000-05:002009-01-29T18:26:00.000-05:00The tricky thing about this, though, is that banks...The tricky thing about this, though, is that banks more or less need to be able to lend money at interest. Without that, banking itself doesn't work, and more broadly, money doesn't work. The value of money is in the interest it could be earning sitting in a bank versus it's immediate purchasing power now. High interest means lots of people saving money, which banks can channel directly (through loans) to investment, which gets the economy going again, which raises the value of money in the present, which lowers interest rates. The problem is not banks - the problem is so much taxpayer money going to banks by way of the federal reserve. The nice thing about the reserve is it's independence - there are a host of problems with it, but that independence keeps politicians from playing with it for fun. However, it is dependent on banks, who have a profit motive, and that is often in conflict with the national interest.<BR/><BR/>The more reasonable way around that is to turn the Federal Reserve back into a nationalized bank, with protections guaranteed. And loans set at affordable minimums, backed up the government itself.Kelsey Athertonhttps://www.blogger.com/profile/07530487540461606153noreply@blogger.comtag:blogger.com,1999:blog-1866229763096892118.post-34186167289598691002009-01-28T16:15:00.000-05:002009-01-28T16:15:00.000-05:00Yeah. Let the banks decide who deserves government...Yeah. Let the banks decide who deserves government money. Because if anything, they've proved themselves to be experts and lending money.the unbeatable kidhttps://www.blogger.com/profile/07837510231614022057noreply@blogger.comtag:blogger.com,1999:blog-1866229763096892118.post-11159640099966170752009-01-28T12:14:00.000-05:002009-01-28T12:14:00.000-05:00Jon Stewart suggested this same thing last night w...Jon Stewart suggested this same thing last night while interviewing Gwen Eiffel. It definitely sounds like a superior idea to me. I know I could use a check to keep paying my mortgage. If I can't sell soon, I'm looking at foreclosure and ruined credit for years to come. So how's this whole stimulus thing supposed to work again? Oh yeah, banks lending people money. Well, banks don't lend money to people with bad credit.Anonymoushttps://www.blogger.com/profile/02636381286033865267noreply@blogger.com