http://splendidmarbles.com/2009/02/20/commentary/stop-digging-a-criticism-of-economic-stimulus/ cartoons and commentary Sun, 29 Jan 2012 13:53:44 +0000 http://wordpress.org/?v=2.9.1 hourly 1 http://splendidmarbles.com/2009/02/20/commentary/stop-digging-a-criticism-of-economic-stimulus/comment-page-1/#comment-4444 The World According to Gordon Brown | Splendid Marbles Fri, 03 Apr 2009 17:21:51 +0000 http://splendidmarbles.com/?p=2061#comment-4444 [...] restore confidence in the financial system than to spend wildly in the hope of stimulating demand - read my commentary on the matter.) The end of the global credit boom caused the bursting of massive asset bubbles in America and the [...] [...] restore confidence in the financial system than to spend wildly in the hope of stimulating demand – read my commentary on the matter.) The end of the global credit boom caused the bursting of massive asset bubbles in America and the [...]

]]> http://splendidmarbles.com/2009/02/20/commentary/stop-digging-a-criticism-of-economic-stimulus/comment-page-1/#comment-3579 Feds Scheme to Nationalize Citigroup | Splendid Marbles Fri, 27 Feb 2009 18:43:58 +0000 http://splendidmarbles.com/?p=2061#comment-3579 [...] As I mentioned in my piece last week, in the aftermath of the abrupt end to the largest credit boom in history, banks need not only time and money to heel, they need to engage in sound business practices that will restore them to health. This should also steer government policies away from economic stimulus toward measures that promote long-term financial stability. The federal government, should help banks dispose of toxic assets and restructure existing loans in a way that will benefit their customers, creditors and shareholders This means attracting deposits from customers, not cramming unnecessary credit offers in millions of mailboxes. And, the potential demise of competition in the financial services industry and the risk of political interference should not be ignored during this period of economic distress. Nationalization of the banking system is already occurring, it’s now time to manage the consequences and stop bickering over semantics. [...] [...] As I mentioned in my piece last week, in the aftermath of the abrupt end to the largest credit boom in history, banks need not only time and money to heel, they need to engage in sound business practices that will restore them to health. This should also steer government policies away from economic stimulus toward measures that promote long-term financial stability. The federal government, should help banks dispose of toxic assets and restructure existing loans in a way that will benefit their customers, creditors and shareholders This means attracting deposits from customers, not cramming unnecessary credit offers in millions of mailboxes. And, the potential demise of competition in the financial services industry and the risk of political interference should not be ignored during this period of economic distress. Nationalization of the banking system is already occurring, it’s now time to manage the consequences and stop bickering over semantics. [...]

]]> http://splendidmarbles.com/2009/02/20/commentary/stop-digging-a-criticism-of-economic-stimulus/comment-page-1/#comment-3375 SplendidMarbles Fri, 20 Feb 2009 20:51:12 +0000 http://splendidmarbles.com/?p=2061#comment-3375 I'm saying that piling on debt to keep dying industries alive is dangerous - it will cost us much more in the long run because THEY WILL DIE eventually. Why commit money we don't have for businesses we don't need? (Their workers have skills that are needed, it's the companies they work for that need to go quietly into the night.) As for the banks - just nationalize the awful ones; they're gonna fail if we don't. The most important thing to do is get them healthy again, attracting depositors, renegotiating and disposing of bad loans and becoming prudent lenders once again. I’m saying that piling on debt to keep dying industries alive is dangerous – it will cost us much more in the long run because THEY WILL DIE eventually. Why commit money we don’t have for businesses we don’t need? (Their workers have skills that are needed, it’s the companies they work for that need to go quietly into the night.) As for the banks – just nationalize the awful ones; they’re gonna fail if we don’t. The most important thing to do is get them healthy again, attracting depositors, renegotiating and disposing of bad loans and becoming prudent lenders once again.

]]> http://splendidmarbles.com/2009/02/20/commentary/stop-digging-a-criticism-of-economic-stimulus/comment-page-1/#comment-3371 Bill S. Fri, 20 Feb 2009 19:33:23 +0000 http://splendidmarbles.com/?p=2061#comment-3371 What are you advocating? Letting big banks die and the auto and housing sectors crumble will devastate the economy. Are you high? Drunk? What are you advocating? Letting big banks die and the auto and housing sectors crumble will devastate the economy. Are you high? Drunk?

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