A New Direction on Wall Street

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I WISH SOMEONE WOULD EXPLAIN WHY GOVT BODIES PAY INTEREST?
http://video.google.com/videoplay?docid=-9050474362583451279 Money As Debt
Instead of printing money, and paying no interest, why does our government (federal, state, and local) borrow money and pay interest?” After all, they do have the power to pay their bills with the money they print. Why does our government pay interest on debt? What am I saying? Just one simple example, New York builds a toll road and the federal government says, “Here’s the cash to pay for it (I printed the cash you need last night) just pay me back out of your small tolls–no interest please.” Where’s the turnpike bonds, investment banks, etc. in this equation? Not quite like aid to a foreign country (because New York would pay the principal back out of fees collected).

David of OK 11:45AM October 09, 2008

If you want to go in a new direction, you fire Fed Chairman Bernanke and Treasury Sec. Paulson, not SEC Chairman Chris Cox which Senator McCain suggests. Anybody that believes in free enterprise would not want to get bailed out by the government. After all, they're the rednecks. The go it alone people. The Investment Bankers, which are trying to play it both ways, are in bed with the stock market while trying to pretend they're a bank which is a joke. The problem is though, us working people who depend on the Commercial Banks, are really confused about why Senator McCain wants to fire SEC Chairman Chris Cox. Any fifth grader would know that the problem is in the banking sector and the people you would be firing would be Fed Chairman Bernanke and Treasury Sec. Paulson. You definitely wouldn't hire these people to manage the bailout! It definitely is a conflict of interest. Where's the media on this one? It even sounds suspicious about why this has to be done all in one week. Even before the FBI has a chance to investigate, Fannie Mae, Freddie Mac, AIG, and Lehman Brothers. I believe they will find out that these DERIVATIVES they are selling are WORSE than JUNK BONDS. Also the HEDGE FUND DEALERS selling them, particularly the ones headquartered offshore, should go to jail rather than get golden parachures and bonuses. I hope the media asks the candidates these questions so we have answers before the election so that we don't end up with another Herbert Hoover or worse.
Yours truly, Disgusted Middleclass Taxpayer, LaVern Isely

LaVern Isely of WI 3:22PM September 24, 2008

"Who would have thought that the United States would nationalize its financial assets?" asks economist James Barth of the nonprofit Milken Institute. Nationalization of private institutions and industries is communism, not capitalism!

Roberta of OR 5:56PM September 23, 2008

The rationale for the bailout is to allow credit markets to provide credit for business to operate, what a crock and indicative of THE PROBLEM!!! When business in general relies upon credit for operating costs, the system is worse than broken, it is downright on the endangered species list!!! Credit is vital in business for expansion, unexpected losses, damages, etc... but for basic operating expenditures??? If businesses do not have a built in pad to cushion economic anolmalies to their operating costs, they shouldn't be in business. Banks are the most vunerable requiring sufficient cash reserves to operate yet other businesses normally operate on the 30 day discount principle to allow for fluctuations in the markets. If business is relying upon credit for daily operations they are not only stupid but are destined to fail with the first snowstorm, flood or hurricane. If this is the case for American business, they need to go back to school and this time grab their ears and pull their head out of the dark!!!

Ray Fisher of NM 1:59PM September 21, 2008

Wall Street must consider investing primarily in the growing green industries which are focused primatily upon maintaining cash flow within the American economy versus foreign investments. Supporting the exploding fuel cell industry allows investments to be recycled within our economy creating increased opportunities with every purchase or investment. ie. a home hydrogen fueling station feeds a demand for hydrogen fuel cell products which feed a demand for fuel cell development, hydrogen production, new fuel cell applications from UPSs to forklifts, ships, aircraft, vehicles, oportable power sources,etc... America has been on the verge of an exciting new industry for many years yet now is the time to turn our gloom into a boom. Please research and discover the possibilities!!!
http://www.hydrogenassociation.org/index.asp

Ray Fisher of NM 11:28AM September 20, 2008