tag:blogger.com,1999:blog-2761684730989137546.post5819801690059042682..comments2024-03-29T02:19:19.866-04:00Comments on Mike Norman Economics: Treasury's confusion on the role of banksmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2761684730989137546.post-46546509286993054552009-02-10T21:40:00.000-05:002009-02-10T21:40:00.000-05:00Yep. It's the same old story, though, in differen...Yep. It's the same old story, though, in different clothing (how's that for mixed metaphors?). The mainstream story is always about "restoring confidence" before supposedly anything positive can happen, and they forget that confidence itself always comes from a restored economy . . . so restore the economy! <BR/><BR/>How many of these "toxic assets" would be less so if there were a payroll tax holiday, block grants to states, and infrastructure spending, and if on top of that the Tsy ordered Fannie and Freddie to buy conforming mortgages at, say, 4%? The latter, by the way, would refinance some of the toxic assets, in addition to reducing monthly payments for millions of homeowners.<BR/><BR/>Another point along the same lines . . . remember Republicans wanting a 4% mortgage a few days ago, and ready to "subsidize" the difference to banks currently lending at 5.25% or so? Somehow they didn't realize that the govt already owns Fannie and Freddie.<BR/><BR/>ScottSTFhttps://www.blogger.com/profile/16261666934714196464noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-41430578343076483582009-02-10T20:23:00.000-05:002009-02-10T20:23:00.000-05:00Scott,Are you as amazed and confounded by this as ...Scott,<BR/><BR/>Are you as amazed and confounded by this as I am??mike normanhttps://www.blogger.com/profile/03296006882513340747noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-6137383629964657162009-02-10T19:47:00.000-05:002009-02-10T19:47:00.000-05:00Nail on the head again!ScottNail on the head again!<BR/><BR/>ScottSTFhttps://www.blogger.com/profile/16261666934714196464noreply@blogger.com