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  • Debate: Obama's most important steps for a more sustainable economy?
    Jeff commented on the article | about 3 years ago
    Debate: Obama's most important steps for a more sustainable economy?

    Secretary Paulson's new plan for dealing with the Financial Crisis involves lending money to financial institutions in order to encourage them to lend to consumers. The current White House Administration has to be careful not to create another situation where struggling citizens take out loans which they cannot repay, thereby putting us in the same situation 2 or 3 years down the road. Any lending of money, must be tied to loan rates which are capped at a certain low level. High interest rates will only continue the problem or postpone it for a year or two. The ONLY way we are going to get out of this mess is if EVERYONE quits being greedy and tries to start working together. If banks and financial institutions won't start lending to customers at reasonable rates(for the actual value of homes,not the inflated values) then the government should. The Government can undercut the banks and financial institutions and lend directly to citizens if these lenders won't do it at a reasonable level. This would allow the Government to get a reasonable return on it's (taxpayers) money and slowly start to solve the problem of unsold houses which is the primary cause of the problem.

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