Checklist Of Problems With TARP

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Sunday October 05, 2008 · 1:07 PM PDT

2008/10/05 · 13:07

I've been told to do this as a diary. It is a list of the possible problems with TARP.

Please feel to comment or add to any of the listed problems. I'm very interested in keeping a record of how this plan actually works out, as compared to the Dutch Plan.

Here's my approach, via Calculated Risk:

"From the Financial Times: Dutch government takes over Fortis units

The Dutch government on Friday re-negotiated last weekend’s bail-out of Fortis in order to buy all of Fortis’s Dutch operations for €16.8bn, including its Dutch insurance operations and the Dutch operations of ABN Amro.
...
Wouter Bos, Dutch finance minister, said the Dutch state took the decision after seeing how Fortis faced greater liquidity problems this week following the rescue.
...
The Dutch government will privatise the Fortis and ABN Amro operations after calm returns to the markets, it said.

Nationalize. Then privatize. That is a proven approach. It will be interesting to see if the Dutch approach works better or worse than the Paulson plan. "

Precisely. Nationalize. Then privatize.

Don the swing voter

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Monday September 29, 2008 · 2:20 PM PDT

2008/09/29 · 14:20

I don't have any other agenda in this diary than making sure that this story does not go unnoticed.

"By ROBERT PEAR
Published: September 29, 2008

WASHINGTON — More than 90 percent of nursing homes were cited for violations of federal health and safety standards last year, and for-profit homes were more likely to have problems than other types of nursing homes, federal investigators say in a report issued on Monday."

Don the swing voter

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Sunday September 28, 2008 · 7:35 AM PDT

2008/09/28 · 07:35

Paul Krugman came out today for the Swedish plan. Earlier, Brad DeLong had come out for the Swedish Plan.

I did a Diary earlier this week on the Daily Kos about this plan, and have been arguing for it all week on liberal and libertarian blogs, including my own little blog.

If Krugman had come out for this plan earlier, and blogs such as this one had backed this plan, we might have gotten it.

I'm not even that exited at a bailout, being more libertarian and free market than most in my party. However, if we are going to do this bailout, the Swedish Plan has the advantage of having worked and being understandable. I believe that the fear of nationalization, Sweden, and Socialism kept people from considering this plan, which was foolish.

So, I'm giving this one more try. Please consider this plan.

Don the swing voter

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Thursday September 25, 2008 · 1:38 PM PDT

2008/09/25 · 13:38

How did the automobile industry get involved in this bailout?

http://www.washingtonpost.com/...

Here's Steven Pearlstein in the Washington Post:

"It's desperation time for the Big Three automakers. They are awash in gas-guzzling vehicles nobody wants to buy, bleeding red ink and running out of cash.

So it should be no surprise that when Congress returns next week, the companies and their unions will put on a full-court press to win approval for $50 billion in federal loans to be used to re-engineer and retool their plants for a new generation of energy-efficient vehicles."

He's reluctantly for it, but read the posts below.

Don the swing voter

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Wednesday September 24, 2008 · 7:46 AM PDT

2008/09/24 · 07:46

This is a bitter pill for me to swallow, because I'm not really in favor of a bailout. But, if we need one, I'm in favor of a version of the Swedish Plan.

This would entail the government getting ownership or equity in return for a bailout.

I'm no expert, especially on the Credit Default Swaps that are described below, which we all really need to understand better, but the Swedish Plan makes sense to me.

I could use any comments or instruction.

Don the swing voter

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Tuesday September 23, 2008 · 10:57 AM PDT

2008/09/23 · 10:57

I've a very simple question:

Would the crisis we are in be viewed as so ominous and impending if it weren't for the fact that the Bush Administration is the one dealing with it?

Don the swing voter

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Sunday September 21, 2008 · 5:12 AM PDT

2008/09/21 · 05:12

I am a libertarian Democrat. As such, I accept the need the for more government intervention than most libertarians. However, I have some basic principles.

I also would rather the government not bail out private companies unless absolutely necessary. I am not competent to determine if the current bailout of all bailouts is necessary. However, I ask that you read the two linked columns below and demand that congress at least consider the consequences of this proposed bailout of all bailouts. The first is from Robert Reich. The second two are from Washington Post columnist Sebastian Mallaby.

RSS

Checklist Of Problems With TARP

Violations Reported at 94% of Nursing Homes

Paul Krugman Backs The Swedish Plan For Bailout

What's With The Bailout Of The Auto Industry?

Back Version Of Swedish Plan If We Need A Bailout

How Much Is Lack Of Trust In Bush Contributing to This Crisis?

Don't Panic! Review The Bailout!