Jason Rines (iThinkBig)

Bill Gross: The Housing/GSE Bill Is Best Way Out of Credit Crisis

Exactly Aalan. I advised the Pres in May that the iBanks and housing agencies would soon be crying for more lube right before elections.

Corrupt people think they are so slick, but they are highly predictable in there behaviors. My stongest advice was in March to the Administration: Subsidize heavily in energy and higher education to create skilled jobs. $150 B subsidy, with $50 B going into the SBA, the rest managed by regional banks whom demonstrated fiscal responsibility these last four years. This would spur global investment back into the USA and give the banks legit business and fix balance sheet. Higher net income for citizens means they can afford to pay the increasing costs of risk for loans in the mid-term. Cheaper energy by adding supply means we export a hell of a lot more of what America has and what the globe needs: raw commodities to continue a sustain emerging markets and restore ours, such as metals, agr, coal, etc.

But NO! This bailout is going to suck out half a trillion of possible capital deployment in infrastructure that could have been turned into ten trillion of wealth over a decade, creating the necessary two trillion of annual tax revenues to pay for our promises to U.S. citizens in social security and medicaid. Medicaid benefits will be seeing steep cuts over the next four years as well at this point. While the cost of oil has dropped and will continue to some degree, it will not be enough for reduce costs of NECESSARY products such as home heating oil. There will be casualties this winter! And Barny Frank says while no one liked doing this, it showed our government can govern?!?! What an ass.

Chronie capatalism has reached epidemic proportions. We will wind up like Russia and at some point in a few short years our nations credit rating dropped, default on debts and be called something else besides the United States. It's going to be real ugly but it always is when the top leadership has become corrupt.

Thank you Mr. Bush and Republicans (who voted against 3-1) for the attempt to force accountability on this issue. I disagree with many that 'this bailout had to be done'. No, let the banks wither for another quarter and then they sell large patches of equity at firesale prices. Yes, some will be to foreigners whom will not be so forgiving to our chronie capatalistic practices. When the Chinese get it and we don't, there is a real problem!!!

That is what capatalism is, it punishes poor management and rewards the responsible. This one big bailout will now suck the life out of the middle class (think innovators and entrepenuars) taxpayer in the 3-4 years as well in increased taxes. Horrendous!

Mr. Gross, your type have lost all honor and understanding of public service to protect your countrymen. You people took it out of the little guy. Again, no honor. Where are the days we men waged competitor wars against each other? They are gone, because we innovate practically nothing anymore, all we can sell is paper pushing paper!!! That's why it was taken out of the little guy, you people are lazy, selfish and incompetent!

Many of us will not forget this crop of leadership. 545 people run this government and 100 run the banking system. Don't think we will not be able to appropriately assign blame even as selfish ivory tower types and politicos attempt to slink off into the sunset when the real shit hits the fan around 2011, that is what databases are for. Have a wonderful day, you egotistical jerk.