Thursday, January 29, 2009

If Christopher Dodd is Delighted ...

We are all in deep kaka. When the chairman of the Senate Banking Committee is happy with a policy decision at the Fed, I immediately reach for my wallet, to make sure its still there. Sort of like when I am in a crowd and someone bumps into me.

The Fed decision to take action against foreclosures can only turn out poorly. For 2 decades Washington and the economists they have employed, have meddled with and held back economic tides which were not meant to be messed with. Preventing foreclosures should not be the goal of the Fed, the Treasury or the Senate Banking Committee. They should be concerned with guiding the US economy out of the wilderness and back to an equilibrium which we can use as a starting point for new growth. Preventing foreclosures is like holding back the tides. It can't work for long and its likely to cause stiffer consequences. If anything has been evident over the last couple of years, its exactly that. Our financial policy makers need to take their hands off of things which they can't really control and allow our economy to reset itself to a normal and sustainable level.

Instead we have a feltcher like Christopher Dodd influencing financial policies about which he knows nothing and is not qualified to be meddling with. There were no economics courses at the Mr. Potatohead State law school Christopher Dodd went to. Seriously, read this part ...
The school fails to make an appearance on any of USNews’ specialty rankings lists, and is not well known outside of its own region.

Christopher Dodd, went to Louisville, after growing up and living his entire life in Connecticut, which means he couldn't get in anywhere close to home and he obviously didn't get in there any place desireable.

5 comments:

Alex L. said...

Christopher Dodd should be doing the perp walk in an orange jumpsuit. Guy pisses me off. He and Barney Frank. What a waste of oxygen those two are.

Ellanora said...

Love the humor! It's nice to be able to laugh about this debacle we call an economy.

Your insights are spot on!

Enjoyed looking at some of your archived entries, also. Thanks.

Tom said...

All,

This would be funny, except for the enormous conflict of interest that runs in our Congress and Senate. Dodd is a large recipient of Fannie and Freddie funding, and does not understand economics. Paulson, Greenspan, and Geitner dont understand economics either.

If we dont throw these crooks in Jail, China and Japan will withdraw all their treasuries, the dollar will tank, and the US becomes a 3rd world nation in 5-10 years.

The answer is investing in technology and reversing out outsourcing. What a bunch of dummys in congress who think we can "Outsource our way to Properity", "Spend our way to prosperity". Or with all the Lawyers in the US "Sue our way to prosperity".

Dead End said...

@ Alex
Read these ...
http://thelastgoodidea.blogspot.com/2008/09/surprise-surprise-fannie-and-freddie.html

http://thelastgoodidea.blogspot.com/2008/06/senators-are-becomming-more-affordable.html

and my personal favorite ...
http://thelastgoodidea.blogspot.com/2008/10/skeletons-falling-out-of-closet.html

Alex L. said...

Oh jeez. Don't even get me started on Obama and Fannie Mae/Freddie Mac.