Tuesday, January 13, 2009

Catch & Release Please

So the credit markets are thawing, people with good credit can get good loans (I just did, for instance), and the markets have apparently seen their floors and are trying to stay above them.

Seems to me that the rest of that TARP money Congress and the next president have wriggling on the hook just isn't needed. So why not bank it, since it's already "printed"? Or use it to balance an across the board income tax cut, or corporate tax cut, or something?

That's what a smart person would do. That's what an honest person would do.

5 comments:

cnick said...

Here's a good explanation of why bailouts and stimuli come with lots of hidden costs (namely, resources get shifted away from more productive uses).

http://www.dimensional.com/famafrench/2009/01/bailouts-and-stimulus-plans.html

Yes, I am agreeing with you!

MeatAxe said...

This just in: Hell Paralyzed by Powerful Blizzard

Atom Smasher said...

No! Internet antipathy rating must be maintained! No consensus on any topic allowed! Norman, coordinate!

cnick said...

I just locked in 4.875% for 60 days on a 30 year mortgage, woohoo! Amazingly, there were multiple bids on the house. Housing crisis? What housing crisis?

What we really have is an 'idiot' crisis. Too many idiots borrowing too much money. There really should be a minimum IQ requirement for getting a credit card, a mortgage loan, or for that matter being allowed to have children.

porcus said...

i refied this week at 4.875 on a 30 year fixed. what i thought was interesting was this time around i had to sign a disclosure form stating more or less that i am of sound mind, haven't been duped and then had a free form bit for me to explain why i am taking this loan.
this won't stem the flow of idiots, but i found it an amusing CYA tactic from banks.

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