Last night, as I’m sure you are reading all over the place, the Senate passed the bailout package. The thing, now, though, is that some say that $700 billion just isn’t enough to inject liquidity into the markets and stimulate the economy. Here is what Bloomberg reports on the stock market’s tepid response to the Senate bailout package:
U.S. stocks dropped for a second day as a jump in borrowing costs and reports showing a worsening economy spurred concern that the government’s $700 billion bank bailout plan won’t be enough to stimulate growth.
Quite frankly, I’m not sure that any amount of …read more

If you read this blog, you know that I have really been annoyed with the way the “fixes” to the credit crisis are headed. A mortgage rate freeze that will have us back to this point later, Fed rate cuts that encourage inflation and now a liquidity plan that further aims to put an inadequate band-aid on a gaping hole gushing with blood.
I personally think that some sort of nationalized standard of lending should be developed. You know, one that requires that someone be able to make payments on a mortgage — even after the rate resets. And I certainly …read more