you asked <<where was the good senator when the good times where rolling?
Did he stand up and warn about the dangers of >>
If you're talking about Sen Coburn, he was elected to office in 2004 - so he
was pretty new when the problems were starting - which he wrote about.
As far as where he was when the good times rolled he was probably working.
Take Care,
Larry T
http://youroil.net
http://members.rennlist.org/oil/ - Oil Testing
http://members.rennlist.org/webercarbs/ - Carb & Jet Settings:
----- Original Message -----
From: "Hendrik & Fay" <[EMAIL PROTECTED]>
To: "Mercedes Discussion List" <mercedes@okiebenz.com>
Sent: Friday, October 03, 2008 12:07 AM
Subject: Re: [MBZ] OT Three cheers for an OKie................perhaps?
Yes but where was the good senator when the good times where rolling? Did
he stand up and warn about the dangers of uncontrolled lending? Did he say
that whilst home ownership is a good thing it is not for everybody? Or is
he using this to further his own political ambition? If he is then he is
worse than the jokers who took their eyes off the ball in the first place.
However this statement underlines why there is a bailout, collective guilt
will be soothed with taxpayer money.
The other side of the coin is what would happen if there is no bailout?
Would there be big problems or are these problems perceived? The stock
market is largely made up of smoke and mirrors, people get spooked and a
stampede follows, even though there may not be any good reason to do so.
At least with this we sort of know what the problem is and can predict the
likely result.
My thoughts are that the bailout should be a long term loan, the
regulations should be tightened to ensure the idiots are weeded out and
taxes should be raised on the rich (best along the lines of a higher
luxury tax) to partly pay for all this stupidity. Far as I am concerned it
should have been the share holders of the greedy lenders who should have
said stop, as they have the brains.
Hendrik
dabbling in things he does not fully understand, bit like fixing a Merc
Loren Faeth wrote:
to Quote Dr. Tom Cobern, Senator from OK regarding the millionaire
bailout bill : (or Billionaire bailout bill if you prefer)
"This bill does not represent a new and sudden departure from free market
principles as much as it represents an emergency response to
congressional actions that have ignored free market principles, and our
Constitution, for decades. If anyone in Washington should offer their
resignation it should be the members of Congress who peddled the fantasy
of free home ownership without risk. No institution in our country is
more responsible for the myth or borrowing without consequences than the
United States Congress."
"As much as members of Congress want to find scapegoats, the root of this
problem is political greed in Congress. Members of Congress from both
parties wanted short-term political credit for promoting home ownership
even though they were putting our entire economy at risk by encouraging
people to buy homes they couldn't afford. Then, instead of conducting
thorough oversight and correcting obvious problems with unstable entities
like Fannie Mae and Freddie Mac, members of Congress chose to ignore the
problem and distract themselves with unprecedented amounts of pork-barrel
spending."
"Taxpayers who want to ensure that this doesn't happen again should send
a very clear message to Washington that it's time for Congress to live
within its means and restore the principles of limited government and
free markets that made this country great. I will do everything in my
power to ensure that this bill does not lead us down a slippery slope of
European style socialism and slow economic growth. I will also promise
taxpayers that I will do everything in my power to block what I expect
will be hundreds of attempts by politicians in Washington to continue
business-as-usual borrowing and spending in the next Congress. In a time
of crisis, American families have to make hard choices between budget
priorities. So should Congress. If politicians want to create new
programs they should eliminate duplicative programs or reduce funding for
less important programs. The only way we can put this crisis behind us is
for Congress to rejoin the real world of budget choices and consequences
which, as we have seen in recent days, can be ignored for only so long."
This is one of the most coherent things I have seen coming out of the
general vicinity of the District of Columbia.
Loren Faeth
_______________________________________
http://www.okiebenz.com
For new parts see official list sponsor: http://www.buymbparts.com/
For used parts email [EMAIL PROTECTED]
To Unsubscribe or change delivery options go to:
http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
_______________________________________
http://www.okiebenz.com
For new parts see official list sponsor: http://www.buymbparts.com/
For used parts email [EMAIL PROTECTED]
To Unsubscribe or change delivery options go to:
http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
