Comments on: Rescuing the Rest of Us http://dirtdiggersdigest.org/archives/196 chronicling corporate misbehavior (and how to research it) Tue, 24 Jan 2012 18:30:45 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Richard Danjin http://dirtdiggersdigest.org/archives/196/comment-page-1#comment-964 Richard Danjin Sun, 21 Sep 2008 17:38:58 +0000 http://dirtdiggersdigest.org/?p=196#comment-964 One has to wonder why Congress and the President doesn't follow the previous precedent of 1933: -- Recreate Homeowners Loan Corporation -- Buy the defaulted mortgages and mortgages in jeopardy -- Refinance them at less than 5% for 15 years and ultimately make some money on the deals At least the assets would remain with the homeowner, equity holder, and not wind up in a new quasi-commodity traders market dealing in foreclosed, abandoned homes while the taxpayer/ one-home-owner goes to the street or bankruptcy court. One has to wonder why Congress and the President doesn’t follow the previous precedent of 1933:

– Recreate Homeowners Loan Corporation

– Buy the defaulted mortgages and mortgages in jeopardy

– Refinance them at less than 5% for 15 years and ultimately make some money on the deals

At least the assets would remain with the homeowner, equity holder, and not wind up in a new quasi-commodity traders market dealing in foreclosed, abandoned homes while the taxpayer/ one-home-owner goes to the street or bankruptcy court.

]]> By: Mike Schippani http://dirtdiggersdigest.org/archives/196/comment-page-1#comment-961 Mike Schippani Sat, 20 Sep 2008 22:00:21 +0000 http://dirtdiggersdigest.org/?p=196#comment-961 Mike Harrington used to say that capitalism was only 250 years old and a system based on exploitation and greed was doomed to fail. He went on to say that we would likely not see its replacement in our lifetime. Maybe. A trillion dollar buyout of Wall St. by the American people should be invested in a new United States Investment Bank, with a mission to control patient capital so as to reinvest over time in all those social and economic gains for working people described by Phil. Mike Harrington used to say that capitalism was only 250 years old and a system based on exploitation and greed was doomed to fail. He went on to say that we would likely not see its replacement in our lifetime.

Maybe. A trillion dollar buyout of Wall St. by the American people should be invested in a new United States Investment Bank, with a mission to control patient capital so as to reinvest over time in all those social and economic gains for working people described by Phil.

]]> By: June Rostan http://dirtdiggersdigest.org/archives/196/comment-page-1#comment-959 June Rostan Sat, 20 Sep 2008 04:25:10 +0000 http://dirtdiggersdigest.org/?p=196#comment-959 It is astonishing that after deregulating and privatizing which is supposed to make these financial institutions and capitalism work (better?) the taxpayers are called on to save them. Would we have had a crash like 1929? The only consolation is that some investment bankers have lost their private planes and multi-million dollar estates in the Hamptons. How is it also that we are expected to honor and pay for the golden parachutes for the CEO's of these institutions when thousands of workers have lost their pensions and retiree heath care. Those were contractual agreements also. It is astonishing that after deregulating and privatizing which is supposed
to make these financial institutions and capitalism work (better?) the taxpayers are called on to save them. Would we have had a crash like
1929? The only consolation is that some investment bankers have lost
their private planes and multi-million dollar estates in the Hamptons.

How is it also that we are expected to honor and pay for the golden parachutes for the CEO’s of these institutions when thousands of workers
have lost their pensions and retiree heath care. Those were contractual
agreements also.

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