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How should the financial crisis be handled? (update)
Posted by: McQ on Wednesday, September 24, 2008

More blog interactivity fun:

How do you think the financial crisis should be addressed?
Governement: Vote for the Paulson bailout
Government: Modify the Paulson bailout for accountability and oversight
Government: Put an incremental package together that addresses the bailout in phases
Goverrnment-Market: Put a minimal bailout package together that allows market corrections as well.
Market: Do nothing. Let the market correct the problem.
  
pollcode.com free polls


UPDATE: Initial results (100 votes) isn't showing much support at all for the government only plans.
 
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Previous Comments to this Post 

Comments
Can we have an option for the Greenspan plan?
 
Written By: Scott Jacobs
URL: http://
Somewhere between the 4th and 5th option here. Provide some minimal "backstops" in the event a corporate failure will have too many downstream negatives (see AIG). Otherwise;
Jack Kirkpatrick: Shanna, they bought their tickets, they knew what they were getting into. I say, let ’em crash.
 
Written By: CR
URL: http://
I answered the poll question despite the fact that I am no more qualified to do so than my Shetland Sheepdog. Sigh... I consider myself a bright and well-informed fellow, but this situation is totally beyond my ken. I believe strongly that Congress bears the greatest share of the BLAME (not that they’ll pay any penalties), but knowing "who did it" is less important right now than figuring out what to do about it.
 
Written By: docjim505
URL: http://
If FM2 and the Investment Banks were parted out, I’d give two different answers.

FM2 needs to be destroyed and the social engineering program ended. And FM2 merits possible criminal investigation (if the laws that should have been in place were in place which I doubt). I wouldn’t say that falls under letting the market settle it out.

AIG, BS, MS, etc should have just gone down and their investors, shareholders can sue the top execs.
 
Written By: jpm100
URL: http://
I like this plan
 
Written By: Tito
URL: http://
Tito,

Seems logical to me. Why take a shotgun approach and bail out banks and companies wholesale? Why not simply make it clear that the feds will float emergency LOANS to help companies get past the crisis, restructure, and try to get back into business?
 
Written By: docjim505
URL: http://
"I like this plan"

What?! No Bonuses???!!! Are you mad??? Left-wing commie pinko socia**ist anti free market idiotic bilge!!

If they are in such bad shape, why not just declare bankruptcy? Isn’t that why Chapter 11 was written? They can continue in business but a trustee from outside runs the company. Oh, I just answered my own question. Bailouts are much better.
 
Written By: timactual
URL: http://
An appropriate comment by George Will;


"Everything that has been done for the past six months has been done to cope with what previous actions were supposed to prevent. A perhaps pertinent axiom: There is no education in the second kick of a mule."

http://jewishworldreview.com/cols/will092408.php3
 
Written By: timactual
URL: http://
McQ, did you see this article

A sort of smoking gun on fannie mae back to 93
 
Written By: capt joe
URL: http://
Can’t we have an anti-government plan where we remove the regulations that are creating this illiquidity by preventing funds from holding the mortgages and forcing them to try to sell them as soon as they are rated down?
 
Written By: Phelps
URL: http://phelps.donotremove.net
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Written By: 4
URL: http://feeiduzvbvnp.com/

 
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