F. George McDuffee wrote:
On Fri, 08 May 2009 00:18:27 -0500, cavelamb
wrote:

Timothy Geithner's interview (thanks John) was most interesting.

Rethinking the way things ought to work...

One thing he said that I thought made sense was "the only reason
that one penny was given to these banks is to keep the people who
depend on them from (going under).

Which may well be true, but you need to find out how he defines
"people." It appears that his concern is limited to "people"
like himself, with high positions in the banks, earning huge
bonuses, or those that have huge amounts of credit with the bank,
or those likely to face prison for fraud if the banks go "belly
up." The casual acceptance of bank refusal to lend to credit
worthy borrowers after the injection of billions of taxpayer
dollars under TARP and trillions by the secretive FRB, especially
for business expansion/operation and the general gouging on
credit cards clearly shows that there are "people" and then there
are "people," [some of whom are more equal than others] Remember
Geithner's background and history, and firm advocacy of the Leona
Helmsly rule ["Only little people pay taxes"].
http://en.wikipedia.org/wiki/Timothy_Geithner
http://online.wsj.com/article/SB123187503629378119.html


Yeah. I caught that. He was referring to the people who needed
credit to make payroll, buy material, and ship product.

Putting words in his mouth maybe, but people who employ people
(who pay taxes?).


"Incantation" is a well know and frequent cure or at least
attempted cure for this loss of confidence. This is greatly
helped because people both want and need to believe.

Now go out and sacrifice two goats and everything will be fine...

I just bought a new boat (well, new to me anyway).
Seems like a better place to put my money (than in the bank )

But I paid cash for it. It's for my "half way around the block" trip
next summer. Texas to Maine and back (maybe the following summer).

Maybe I would have bought a bigger boat with more bells and whistles,
and carried a small mortgage - were the economy more stable.
But I don't really need more.

I am spending the rest of my small fortune fitting out, so even without
the goats, I'm doing what I can to help.


(AND - to bring this back ON topic: I need to find a small (1 gallon?)
propane powered STAINLESS STEEL water heater. The electric water heater
is fine hanging on the dock, but I can't afford an extension cord that
reaches past Florida.) Anybody interested in building this thing for me?
Maybe I need to start that on in a new thread?


As for the rest, George...

I think you've got some excellent suggestions there.
But is congress listening to you (yet)?

The idea that these guys could be put out of work just
doesn't wash.

Heck, look at the money we are putting out to clean up their mess.
While I'd just as soon see these guys hung on the airport fence,
I truly doubt it will EVER happen...


Richard