Comments on: Banks are not worth nothing, but next to nothing http://flyboysfund.jeffreylin.net/2008/01/21/banks-are-not-worth-nothing-but-next-to-nothing/ Just another WordPress weblog Tue, 06 Jan 2009 18:52:57 +0000 http://wordpress.org/?v=2.7 hourly 1 By: David Esrati http://flyboysfund.jeffreylin.net/2008/01/21/banks-are-not-worth-nothing-but-next-to-nothing/comment-page-1/#comment-91 David Esrati Tue, 22 Jan 2008 00:20:43 +0000 http://flyboysfund.jeffreylin.net/2008/01/21/banks-are-not-worth-nothing-but-next-to-nothing/#comment-91 With the Fed pumping cash into the economy via the auctions, and the interest rate cuts, we're just headed for an even lower dollar. The proposed check is in the mail rebate, is a short term fix. I've made a suggestion (an I'm a nobody running for Congress in OH-3) that in exchange for access to the discount funds at auctions, banks agree to do two things immediately: Reset consumer ARMS right now, instead of waiting for the annual renewal date, forcing mortgage payments lower instantly, freeing up funds for debt repayment- and 2) Force Credit Cards to reset rates to adjust for the lower prime (And maybe cap at 19%- with no more interest rate hike penalties) This would instantly free up cash in the hands of consumers, instead of just to large investors and banks. With home foreclosures reaching depression era rates, we have to look at intervention now, or bail out later. Foreign dollars is not the answer. We have to internally get ourselves out of this mess. I'd like to hear your feedback? I also talk about caps on CEO pay- but, that's outside the standard financial area- the post is here: http://esrati.com/?p=518 With the Fed pumping cash into the economy via the auctions, and the interest rate cuts, we’re just headed for an even lower dollar. The proposed check is in the mail rebate, is a short term fix. I’ve made a suggestion (an I’m a nobody running for Congress in OH-3) that in exchange for access to the discount funds at auctions, banks agree to do two things immediately:
Reset consumer ARMS right now, instead of waiting for the annual renewal date, forcing mortgage payments lower instantly, freeing up funds for debt repayment- and 2) Force Credit Cards to reset rates to adjust for the lower prime (And maybe cap at 19%- with no more interest rate hike penalties)
This would instantly free up cash in the hands of consumers, instead of just to large investors and banks. With home foreclosures reaching depression era rates, we have to look at intervention now, or bail out later. Foreign dollars is not the answer. We have to internally get ourselves out of this mess.
I’d like to hear your feedback?
I also talk about caps on CEO pay- but, that’s outside the standard financial area- the post is here: http://esrati.com/?p=518

]]> By: Allen Taylor http://flyboysfund.jeffreylin.net/2008/01/21/banks-are-not-worth-nothing-but-next-to-nothing/comment-page-1/#comment-90 Allen Taylor Mon, 21 Jan 2008 18:00:42 +0000 http://flyboysfund.jeffreylin.net/2008/01/21/banks-are-not-worth-nothing-but-next-to-nothing/#comment-90 I found your site on technorati and read a few of your other posts. Keep up the good work. I just added your RSS feed to my Google News Reader. Looking forward to reading more from you. Allen Taylor I found your site on technorati and read a few of your other posts. Keep up the good work. I just added your RSS feed to my Google News Reader. Looking forward to reading more from you.

Allen Taylor

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