jim t.

Cramer Grilled on Jon Stewart

Regarding those who like Santelli's rant and ask "why do we have to bail out the house flippers?" I have a question: Isn't that NOT the point of the mortgage program? I thought we were only going to help those people who were living in their houses (not renting them out as a house flipper would) and had shown some responsibility in trying to pay their mortgage...I'm not really for the mortgage program because I think it slows the process of finding a bottom and banks are already trying to accommodate many troubled borrowers for their own good. But I don't think it's the massive bailout Santelli characterized it as.

Mark-to-Market Marches Towards Extinction

I love this guy's math...He says of the 8.46 trillion in the 12 biggest banks, ONLY 29 percent is mark to market...ONLY??? So approximately $2.5 trillion of toxic waste that's artificially marked to zero or thereabouts is no big deal??? Banks historically always have delicate balance sheets, which is why they're not supposed to be making subprime loans. It's not hard to see how $2.5 trillion of mark to market could have a huge impact on the ongoing problem.

It's a Bull Market in Government Intervention

There is reason for skepticism, of course, but there is also reason that this intervention might actually do more than just give Wall Street a temporary boost. If the govt. can take the toxic funds off the banks' hands, they will be free to lend again without fear of nothing being capitalized. If those loans are made prudently, they will generate income and keep the economy going. The govt. meanwhile should be able to sell off the assets behind the bad loans over time without too much money being lost. It's win-win, if all goes well.

A Quick Review of I.O.U.S.A.

That whole $53 trillion dollar unfunded debt figure overstates the problem and makes it seem hopeless. Let's start in the present, where the deficit is $9 trillion, and work from there. We need to start by having a plan to reduce the annual deficit every year until we're in balance, without stealing from social security, either through extreme cuts or tax increases or whatever. But it must be done. At the same time, we can make a few changes in social security benefits and medicare to reduce the size of future deficits. But the key is we have to start now.

America's Fiscal Crisis: Tough Decisions Needed Now

Everything in this article is absolutely true. But most of it was just as true four years ago when Bush was re-elected. What does that say about our nation? Two things: Most citizens don't pay attention and the average person has never understood the damage done by runaway deficits.

Greenspan Credibility Melts Down

I can understand the blame Greenspan is getting, but I think it's overblown. Granted, 1-percent interest rates contributed to rising asset prices, specifically in homes. BUT the problem today is not that housing prices began rising too fast because of his policies but because they rose to ridiculous levels AFTER lenders started making all the subprime loans. If the subprime loans had never been made (and there should be laws against them from here on) housing would have leveled off and prices might even have begun to decline without all the foreclosures we're seeing today. Don't blame Greenspan for the stupid loans that are threatening the end of this particular bull market.