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The center would not hold

Started by CIM Network · 9 months ago

An unusual coalition of the left and right wings of Congress managed to upend a proposed $700 billion bailout of Wall Street today, and Iowa’s delegation is a perfect microcosm of the vote.
Liberal Rep. Bruce Braley, a freshman lawmaker who represents Iowa’s 1st Congressional ... Continue reading »

1 comment

  • daddysteve

    9 months ago

    The problem is these extremely leveraged S.I.V's can only be profitable in good times. Leverage destroys in even a slight downturn and the government trying to prop up the underlying mortgage assets is nothing but depression era price fixing. The faster we get rid of this financial voo-doo garbage and allow housing to reach sustainable price levels, the faster we can begin economic healing. Yes, there are certainly rough times ahead no matter what we do but spending the country deeper into debt doesn't sound like a viable alternative. I'm not a liberal democrat but thank you Bruce Braley for voting no on the bail-out.
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