Jason Rines (iThinkBig)

The Sun Is Shining on Wall Street

I am a conservative in nature but I think about any company and how it operates. If your company is in debt over your head you can and should do three things simealtanously:

1) Cut costs
2) Restructure debt
3) Increase revenues

So Obama goes for number 3 as his first approach. I do not condemn it, that is smart. But it will become folly if costs are not cut where they can be. Debt consolidation and restructuring should be extended immediately to the taxpayer to stop the bleeding.

JP Morgan seems to get this but many banks don't. A family that has $4,000 a month between mortgage, second mortgage, credit cards and car payments should get all debt consolidated into a 15, 20 or 30 year loan. That $4,000 a month debt goes to $3,000 a month instead of defaulting and the country awaits innovation and wage increases to accelerate the debt repayment and finally reinvestment process, even if that takes 5-10 years of it to happen.




On Nov 24 11:02 AM PrudentMan, CFA wrote:

> Wow! What are you smoking? What is Obama's experience in finance
> or anything else but politics and government sponsored work? He has
> never been in court, like Bill and Hillary yet alone deal with crisis.
> This time he can't pull a Clinton and sweep the problems under the
> rug while the media looks the other way.
>
> Wave the wand and you have 2.5 million jobs. Like FDR, the government
> is exacerbating the problems rather than solving them. And like FDR,
> who was bailed out by Hitler's invasion of Poland and not any of
> his policies, he is ignoring the "Forgotten Man", the taxpayer.
>
>
> Haven't we had enough of these "smart" guys with little or no real
> world experience? If there was a terrorist attack at the Harvard/Yale
> game on Saturday all of these frat guys would be toast.
>
> Obama should put "Joe the Plumber" in his economic package as he
> has more smarts on the economics than any of his limousine liberals.