Comments on: Issues ‘08: The Economy http://www.onpointradio.org/2008/10/issues-08-the-economy On Point is a live, two-hour morning news-analysis program, produced by WBUR 90.9 and NPR. Thu, 11 Mar 2010 06:30:23 -0500 http://wordpress.org/?v=2.9.2 hourly 1 By: Richard (Bridgewater) http://www.onpointradio.org/2008/10/issues-08-the-economy/comment-page-1#comment-4595 Richard (Bridgewater) Fri, 17 Oct 2008 14:24:37 +0000 http://www.onpointradio.org/?p=12611#comment-4595 Hillary and Barack, already winners in the historical sense, have re-instilled a long missing sense of national pride and for the first time the claim id factual: "We the people of the United State....regardless of race, religion or gender....irrevocably declare certain inalienable rights". Now next month, with our heart or our minds, we choose the next president. But with our gut, the electorate of both Parties must vote out the 88% of Congress seeking re-election. Incumbents O-U-T; term limits I-N (until they truly represent the masses). "This time let's not re-elect any of the scoundrels". Hillary and Barack, already winners in the historical sense, have re-instilled a long missing sense of national pride and for the first time the claim id factual: “We the people of the United State….regardless of race, religion or gender….irrevocably declare certain inalienable rights”. Now next month, with our heart or our minds, we choose the next president. But with our gut, the electorate of both Parties must vote out the 88% of Congress seeking re-election. Incumbents O-U-T; term
limits I-N (until they truly represent the masses). “This time let’s not re-elect any of the scoundrels”.

]]> By: Anne Greene http://www.onpointradio.org/2008/10/issues-08-the-economy/comment-page-1#comment-4385 Anne Greene Sun, 12 Oct 2008 16:23:17 +0000 http://www.onpointradio.org/?p=12611#comment-4385 I would like an expansion of the IRA accounts to encourage savings. 1. Greatly raise the yearly contribution limit and peg it in the future to inflation so the limit continues to go up over time. 2. Allow minors to have IRAs which parents and grandparents can contribute to for long term savings. This would encourage personal savings and provide capital for the banks. I would like an expansion of the IRA accounts to encourage savings. 1. Greatly raise the yearly contribution limit and peg it in the future to inflation so the limit continues to go up over time. 2. Allow minors to have IRAs which parents and grandparents can contribute to for long term savings. This would encourage personal savings and provide capital for the banks.

]]> By: Peter Nelson http://www.onpointradio.org/2008/10/issues-08-the-economy/comment-page-1#comment-4331 Peter Nelson Fri, 10 Oct 2008 21:02:40 +0000 http://www.onpointradio.org/?p=12611#comment-4331 <i>Mortgages that were no-money-down, interest-only, balloon-payment deals are one thing; mortgages that involved ten to twenty percent down and have been faithfully paid for many years are something altogether different! It seems to me that should the government buy up my mortgage, pay off the face value to the lender, and hand me a new note for the reduced value, I will have been robbed of every dollar of principal I paid in. No?</i> But wouldn't you be "robbed" of that in any case? If you buy a house for $400K and today it has a market value of $300K that $100K is gone. It doesn't matter if you keep your original mortgage or get it refinanced by the government. Lots of people make this basic mistake - when they pay principle on a mortgage they think of it as putting money into the HOUSE. But they're really paying off principle on a LOAN, and it's quite independent of the house. If the house totally disappeared you'd still owe principle on the loan (hopefully you'd have disappeance-insurance on the house!). Years ago when we first started pre-paying principle on one of our mortgages it made my wife nervous. "What if we pay off all that principle, and then the value of the house drops? Wouldn't we lose that money?" she would ask. I had to explain to her that even if the value of the house dropped to zero it wouldn't reduce the principle we owed on the <b>mortgage</b> by one penny! She's a smart woman but even smart people sometimes find it hard to wrap their heads around this concept. The house is simply collateral for the mortgage, but it's the mortgage you're putting your money into, not the house. Mortgages that were no-money-down, interest-only, balloon-payment deals are one thing; mortgages that involved ten to twenty percent down and have been faithfully paid for many years are something altogether different!
It seems to me that should the government buy up my mortgage, pay off the face value to the lender, and hand me a new note for the reduced value, I will have been robbed of every dollar of principal I paid in. No?

But wouldn’t you be “robbed” of that in any case?

If you buy a house for $400K and today it has a market value of $300K that $100K is gone. It doesn’t matter if you keep your original mortgage or get it refinanced by the government.

Lots of people make this basic mistake – when they pay principle on a mortgage they think of it as putting money into the HOUSE. But they’re really paying off principle on a LOAN, and it’s quite independent of the house. If the house totally disappeared you’d still owe principle on the loan (hopefully you’d have disappeance-insurance on the house!).

Years ago when we first started pre-paying principle on one of our mortgages it made my wife nervous. “What if we pay off all that principle, and then the value of the house drops? Wouldn’t we lose that money?” she would ask. I had to explain to her that even if the value of the house dropped to zero it wouldn’t reduce the principle we owed on the mortgage by one penny!

She’s a smart woman but even smart people sometimes find it hard to wrap their heads around this concept. The house is simply collateral for the mortgage, but it’s the mortgage you’re putting your money into, not the house.

]]> By: Peter Nelson http://www.onpointradio.org/2008/10/issues-08-the-economy/comment-page-1#comment-4329 Peter Nelson Fri, 10 Oct 2008 20:45:45 +0000 http://www.onpointradio.org/?p=12611#comment-4329 <i>1. Tom Ashbrook is not obligated to ask his guests any questions *you* may think are meaningful and intelligent. Besides, you already know it all, so why would you want to listen to other experts? 2. The Feds, Treasury, Congress or the President are not obligated to sit down with the bankers and ask them what’s the way out. Didn’t your class on Virgil’s Aeneid give you an insight in how politicians work? Too bad you didn’t attend a class on “learning to listen (or in this case, read) to others” instead of always tooting your own horn.</i> where did I say anyone was <b>obligated</b> to? Also, where did I say I "know it all"? Really, AV, work on your reading skills before responding my comments - you have a persistent pattern of making stuff up out of thin air instead of responding to literally what I say. <i>Too bad you didn’t attend a class on “learning to listen (or in this case, read) to others”</i> . . . and what is this a specific reference to? What did I not read that you are referring to? 1. Tom Ashbrook is not obligated to ask his guests any questions *you* may think are meaningful and intelligent. Besides, you already know it all, so why would you want to listen to other experts?

2. The Feds, Treasury, Congress or the President are not obligated to sit down with the bankers and ask them what’s the way out.

Didn’t your class on Virgil’s Aeneid give you an insight in how politicians work? Too bad you didn’t attend a class on “learning to listen (or in this case, read) to others” instead of always tooting your own horn.

where did I say anyone was obligated to?

Also, where did I say I “know it all”?

Really, AV, work on your reading skills before responding my comments – you have a persistent pattern of making stuff up out of thin air instead of responding to literally what I say.

Too bad you didn’t attend a class on “learning to listen (or in this case, read) to others”

. . . and what is this a specific reference to? What did I not read that you are referring to?

]]> By: AV http://www.onpointradio.org/2008/10/issues-08-the-economy/comment-page-1#comment-4295 AV Fri, 10 Oct 2008 15:39:19 +0000 http://www.onpointradio.org/?p=12611#comment-4295 <i>Here’s a question for your guests: The government has taken over financial institutions, cut interest rates, opened lending windows, passed a bailout bill, and raised FDIC limits, all in an effort to entice banks to lend. But this morning the LIBOR was at a record for 2008 so there’s no sign of a thaw in the credit markets. Has ANYONE - the Fed, the Treasury, Congress or the President, actually sat down with the bankers to ask them what it’s gonna take to get them to lend? </i> Peter, how quickly you've forgotten your own words of wisdom, knowledge of system, and "logic" that you threw my way regarding NPR inviting other candidates. So, here's a reminder: 1. Tom Ashbrook is not obligated to ask his guests any questions *you* may think are meaningful and intelligent. Besides, you already know it all, so why would you want to listen to other experts? 2. The Feds, Treasury, Congress or the President are not obligated to sit down with the bankers and ask them what's the way out. Didn't your class on Virgil's Aeneid give you an insight in how politicians work? Too bad you didn't attend a class on "learning to listen (or in this case, read) to others" instead of always tooting your own horn. Here’s a question for your guests:
The government has taken over financial institutions, cut interest rates, opened lending windows, passed a bailout bill, and raised FDIC limits, all in an effort to entice banks to lend. But this morning the LIBOR was at a record for 2008 so there’s no sign of a thaw in the credit markets.

Has ANYONE – the Fed, the Treasury, Congress or the President, actually sat down with the bankers to ask them what it’s gonna take to get them to lend?

Peter, how quickly you’ve forgotten your own words of wisdom, knowledge of system, and “logic” that you threw my way regarding NPR inviting other candidates. So, here’s a reminder:

1. Tom Ashbrook is not obligated to ask his guests any questions *you* may think are meaningful and intelligent. Besides, you already know it all, so why would you want to listen to other experts?

2. The Feds, Treasury, Congress or the President are not obligated to sit down with the bankers and ask them what’s the way out.

Didn’t your class on Virgil’s Aeneid give you an insight in how politicians work? Too bad you didn’t attend a class on “learning to listen (or in this case, read) to others” instead of always tooting your own horn.

]]> By: Rachel http://www.onpointradio.org/2008/10/issues-08-the-economy/comment-page-1#comment-4255 Rachel Fri, 10 Oct 2008 05:23:17 +0000 http://www.onpointradio.org/?p=12611#comment-4255 I have been watching CNBC for some of my question about this whole financial mess. It helped me to have better sense by learning more information from them. Although it won't help me to gain back my loss on my 401K yet, but it does help me to calm down, not panic. Also they help me to channel out my frustration toward this economic morality deficiency. I have been watching CNBC for some of my question about this whole financial mess. It helped me to have better sense by learning more information from them. Although it won’t help me to gain back my loss on my 401K yet, but it does help me to calm down, not panic.

Also they help me to channel out my frustration toward this economic morality deficiency.

]]> By: rod http://www.onpointradio.org/2008/10/issues-08-the-economy/comment-page-1#comment-4247 rod Fri, 10 Oct 2008 01:49:16 +0000 http://www.onpointradio.org/?p=12611#comment-4247 With all of the talk about making health care available, why doesn't someone mention that the costs for individual health care coverage is only one part - they all have incredibly high deductibles. If you're sick you can't get coverage - so how do you meet the deductibless? This is all a joke. Thank you With all of the talk about making health care available, why doesn’t someone mention that the costs for individual health care coverage is only one part – they all have incredibly high deductibles. If you’re sick you can’t get coverage – so how do you meet the deductibless? This is all a joke.

Thank you

]]> By: Eugene V http://www.onpointradio.org/2008/10/issues-08-the-economy/comment-page-1#comment-4237 Eugene V Fri, 10 Oct 2008 00:28:51 +0000 http://www.onpointradio.org/?p=12611#comment-4237 I still don't get it. Bush told us if we cut taxes the economy would grow and the market would boom. We now have huge deficits, two wars being fought off the books, and the financial market in chaos. So, Bush asked us to give Wall St. a trillion dollars. Naturally, we complied. But the Dow continues to plummet. Economists don't seem to understand what is going on, and no one knows where it ends or how bad it will get. People on the political right are blaming it all on Jimmy Carter, which would be hilarious if people weren't so dumb. McCain and Palin are responding to all this by calling Obama a terrorist. God help us if that foolish old man is elected president. Listened to your show; liked it; still don't get the economy. I still don’t get it.

Bush told us if we cut taxes the economy would grow and the market would boom.

We now have huge deficits, two wars being fought off the books, and the financial market in chaos.

So, Bush asked us to give Wall St. a trillion dollars.

Naturally, we complied.

But the Dow continues to plummet. Economists don’t seem to understand what is going on, and no one knows where it ends or how bad it will get.

People on the political right are blaming it all on Jimmy Carter, which would be hilarious if people weren’t so dumb.

McCain and Palin are responding to all this by calling Obama a terrorist. God help us if that foolish old man is elected president.

Listened to your show; liked it; still don’t get the economy.

]]> By: justanother http://www.onpointradio.org/2008/10/issues-08-the-economy/comment-page-1#comment-4233 justanother Thu, 09 Oct 2008 22:02:22 +0000 http://www.onpointradio.org/?p=12611#comment-4233 ****My second point is that: you hear how important it is to give tax breaks to small businesses, because they create jobs and are a big part of the economy. But aren’t these the purveyors of most minimum wage or low wage and no-benefits jobs?***** It's so true though. I for one don't like to work at a small business company. Usually they don't provide good benefit and don't reinforce their policy. If you are being harassed at work in a small business, good luck! I like bigger corporations with better structure, of course they have to in order to protect themselves too. But bigger corporations law need to be modified too. Same thing with the free market ideology, it need tighter regulation to monitor abuse. ****My second point is that: you hear how important it is to give tax breaks to small businesses, because they create jobs and are a big part of the economy. But aren’t these the purveyors of most minimum wage or low wage and no-benefits jobs?*****

It’s so true though. I for one don’t like to work at a small business company. Usually they don’t provide good benefit and don’t reinforce their policy. If you are being harassed at work in a small business, good luck!

I like bigger corporations with better structure, of course they have to in order to protect themselves too. But bigger corporations law need to be modified too. Same thing with the free market ideology, it need tighter regulation to monitor abuse.

]]> By: jeff http://www.onpointradio.org/2008/10/issues-08-the-economy/comment-page-1#comment-4231 jeff Thu, 09 Oct 2008 21:13:39 +0000 http://www.onpointradio.org/?p=12611#comment-4231 McCain seems to be morphing into a Peter Lorre character from one of his 'B' movies. Palin is now holding hate rallies with uniformed police officers opening up for her, what is going on here? McCain seems to be morphing into a Peter Lorre character from one of his ‘B’ movies.

Palin is now holding hate rallies with uniformed police officers opening up for her, what is going on here?

]]> By: kevin http://www.onpointradio.org/2008/10/issues-08-the-economy/comment-page-1#comment-4220 kevin Thu, 09 Oct 2008 17:04:15 +0000 http://www.onpointradio.org/?p=12611#comment-4220 I have more respect for the crooks that rob the local 7-11 than the crooks in the congress. I have more respect for the crooks that rob the local 7-11 than the crooks in the congress.

]]> By: jeff http://www.onpointradio.org/2008/10/issues-08-the-economy/comment-page-1#comment-4209 jeff Thu, 09 Oct 2008 16:06:26 +0000 http://www.onpointradio.org/?p=12611#comment-4209 As of today the Obama/Biden ticket has 277 electoral college votes. It remains to be seen if this track will keep moving in this direction, but if it does it might be a landslide for Obama/Biden. As of today the Obama/Biden ticket has 277 electoral college votes. It remains to be seen if this track will keep moving in this direction, but if it does it might be a landslide for Obama/Biden.

]]> By: jeff http://www.onpointradio.org/2008/10/issues-08-the-economy/comment-page-1#comment-4177 jeff Thu, 09 Oct 2008 15:43:53 +0000 http://www.onpointradio.org/?p=12611#comment-4177 Both candidates do not have good solutions for what is happening now. They never saw it coming. Obama has emerged as better candidate due to his calm and collective demeanor which is very reassuring in times like these. McCain's reactionary and compulsive style, and his angry diatribes is not a good sign for the kind of president we need now. We need a person who can remain calm, who can think through the issues with clear rationality and has the mind set to have good advisers to work on the problems we are now facing. McCain's not showing he can do this. I'm not saying he can't however he does not seem to able to. His pick of Palin also shows that he is compulsive and her recent disgusting attacks on Obama, which have turned into hate mongering rallies, shows that she might be a right wing populist but she is not fit for the office of the vice presidency let alone the presidency. Both candidates do not have good solutions for what is happening now. They never saw it coming.

Obama has emerged as better candidate due to his calm and collective demeanor which is very reassuring in times like these. McCain’s reactionary and compulsive style, and his angry diatribes is not a good sign for the kind of president we need now.

We need a person who can remain calm, who can think through the issues with clear rationality and has the mind set to have good advisers to work on the problems we are now facing.

McCain’s not showing he can do this. I’m not saying he can’t however he does not seem to able to.

His pick of Palin also shows that he is compulsive and her recent disgusting attacks on Obama, which have turned into hate mongering rallies, shows that she might be a right wing populist but she is not fit for the office of the vice presidency let alone the presidency.

]]> By: John S. http://www.onpointradio.org/2008/10/issues-08-the-economy/comment-page-1#comment-4158 John S. Thu, 09 Oct 2008 15:29:27 +0000 http://www.onpointradio.org/?p=12611#comment-4158 I was listening to "On Point" on NPR on my way home from class this morning, and McCain's economic advisor, Douglas Holtz-Eakin, who is no doubt a smart guy, avoided answering questions with similar two-part answers: (1) the Democrats are stupid and (2) Obama is full of it. I'd love to have heard his economic ideas, but he didn't share any actual ideas, just position points and accusations. Meanwhile, Goolsbee, senior economic adviser to Obama, actually shared some ideas on possible solutions. And, although Goolsbee took some pot shots at Bush and McCain, because his thoughts were not presented strictly in an "Us vs. Them" format, they had a quality Holtz-Eakin's answers lacked: clarity. I wish McCain's economic policy advisor took more time to share his candidate's position, and less to dis the other side, as it would have been a more interesting discussion. Memo to McCain: (1) The blame game is tiresome; quit playing it. (2) Most U.S. citizens understand that the White House, Wall Street, and Congress are culpable for the current economic crisis. (3) If you want to play ball, talk about the issues at hand. The more time a salesman talks about his competition, the less selling he's doing. And if Holtz-Eakin was not available for the whole interview, what was his other priority today, Oprah? To win, one must play. Perhaps the McCain camp could have arranged to have one of its 35 other economic policy advisors participate: Grant Aldonas Managing Director For Split Rock International & Former Under Secretary For International Trade At The U.S. Department Of Commerce Carlos Bonilla Senior Vice President For The Washington Group & Former Special Assistant To President George W. Bush Jeff Brown Associate Professor Of Finance At The College Of Business, University Of Illinois At Urbana-Champaign Juan Buttari Independent Consultant And Researcher In Development Economics Kathleen Cooper Dean, College Of Business, University Of North Texas Steve Davis CRA International And University Of Chicago Graduate School Of Business Richard Dekaser Senior Vice President And Chief Economist, National City Corporation John Diamond Edward A. and Hermena Hancock Kelly Fellow in Tax Policy, Baker Institute Of Public Policy, Rice University Emil Frankel Transportation Consultant And Former Assistant Secretary For Transportation Policy, Department Of Transportation Luke Froeb Professor, Vanderbilt University Senator Phil Gramm Former U.S. Senator From Texas Kevin Hassett Resident Scholar And Director Of Economic Policy Studies, American Enterprise Institute (AEI) Greg Jenner Former Executive Vice President, American Council Of Life Insurers & Acting Assistant Secretary (Tax Policy), U.S. Treasury Department David John Senior Research Fellow, Heritage Foundation Tim Kane Director, Center for International Trade and Economics, Heritage Foundation Melissa Kearney Assistant Professor Of Economics, University Of Maryland Anne Krueger Professor At The Johns Hopkins School Of Advanced International Studies (SAIS) & Former First Deputy Managing Director, IMF Adam Lerrick Visiting Scholar For The American Enterprise Institute (AEI) And Friends Of Allan H. Meltzer Professor Of Economics For Carnegie Mellon Phil Levy Resident Scholar for the American Enterprise Institute (AEI) and Former Senior Economist for Trade on the President's Council of Economic Advisers Will Melick Gensemer Associate Professor of Economics, Kenyon College Michael Moore Professor Of Economics And International Affairs, George Washington University Tom Miller Resident Fellow for American Enterprise Institute (AEI) Tim Muris Foundation Professor, George Mason University School Of Law Gerry Parsky Senior Economic Advisor Nancy Pfotenhauer Former President, Independent Women's Forum James Rill Partner, Howrey LLP and Former Assistant Attorney General (Antitrust), U.S. Department of Justice Kenneth Rogoff Professor Of Public Policy, Harvard University Harvey Rosen Professor Of Economics And Business Policy, Princeton University John Silvia Managing Director, Chief Economist, Wachovia Bank Acquiles Suarez Vice President For Government Affairs For National Association Of Industrial And Office Properties & Former Special Assistant To The President For Domestic Policy Dr. John Taylor Professor Of Economics At Stanford, Senior Fellow At The Hoover Institution & Former Under Secretary Of Treasury Anthony Villamil Chief Executive Officer, The Washington Economics Group, Inc. & Former Under Secretary Of Commerce For Economic Affairs Joseph Wright Chairman Of The Board For Intelsat Mark Zandi Chief Economist For Moody's Economy.Com James Rill Antitrust Attorney at Howrey LLP; Former Assistant Attorney General in charge of the U.S. Department of Justice's Antitrust Division Sean O'Keefe Former Secretary Of The Navy, NASA Administrator, & Deputy Director Of Office of Management & Budget, The White House I was listening to “On Point” on NPR on my way home from class this morning, and McCain’s economic advisor, Douglas Holtz-Eakin, who is no doubt a smart guy, avoided answering questions with similar two-part answers: (1) the Democrats are stupid and (2) Obama is full of it. I’d love to have heard his economic ideas, but he didn’t share any actual ideas, just position points and accusations. Meanwhile, Goolsbee, senior economic adviser to Obama, actually shared some ideas on possible solutions. And, although Goolsbee took some pot shots at Bush and McCain, because his thoughts were not presented strictly in an “Us vs. Them” format, they had a quality Holtz-Eakin’s answers lacked: clarity. I wish McCain’s economic policy advisor took more time to share his candidate’s position, and less to dis the other side, as it would have been a more interesting discussion.

Memo to McCain: (1) The blame game is tiresome; quit playing it. (2) Most U.S. citizens understand that the White House, Wall Street, and Congress are culpable for the current economic crisis. (3) If you want to play ball, talk about the issues at hand. The more time a salesman talks about his competition, the less selling he’s doing.

And if Holtz-Eakin was not available for the whole interview, what was his other priority today, Oprah? To win, one must play. Perhaps the McCain camp could have arranged to have one of its 35 other economic policy advisors participate:

Grant Aldonas
Managing Director For Split Rock International & Former Under Secretary For International Trade At The U.S. Department Of Commerce

Carlos Bonilla
Senior Vice President For The Washington Group & Former Special Assistant To President George W. Bush

Jeff Brown
Associate Professor Of Finance At The College Of Business, University Of Illinois At Urbana-Champaign

Juan Buttari
Independent Consultant And Researcher In Development Economics

Kathleen Cooper
Dean, College Of Business, University Of North Texas

Steve Davis
CRA International And University Of Chicago Graduate School Of Business

Richard Dekaser
Senior Vice President And Chief Economist, National City Corporation

John Diamond
Edward A. and Hermena Hancock Kelly Fellow in Tax Policy, Baker Institute Of Public Policy, Rice University

Emil Frankel
Transportation Consultant And Former Assistant Secretary For Transportation Policy, Department Of Transportation

Luke Froeb
Professor, Vanderbilt University

Senator Phil Gramm
Former U.S. Senator From Texas

Kevin Hassett
Resident Scholar And Director Of Economic Policy Studies, American Enterprise Institute (AEI)

Greg Jenner
Former Executive Vice President, American Council Of Life Insurers & Acting Assistant Secretary (Tax Policy), U.S. Treasury Department

David John
Senior Research Fellow, Heritage Foundation

Tim Kane
Director, Center for International Trade and Economics, Heritage Foundation

Melissa Kearney
Assistant Professor Of Economics, University Of Maryland

Anne Krueger
Professor At The Johns Hopkins School Of Advanced International Studies (SAIS) & Former First Deputy Managing Director, IMF

Adam Lerrick
Visiting Scholar For The American Enterprise Institute (AEI) And Friends Of Allan H. Meltzer Professor Of Economics For Carnegie Mellon

Phil Levy
Resident Scholar for the American Enterprise Institute (AEI) and Former Senior Economist for Trade on the President’s Council of Economic Advisers

Will Melick
Gensemer Associate Professor of Economics, Kenyon College

Michael Moore
Professor Of Economics And International Affairs, George Washington University

Tom Miller
Resident Fellow for American Enterprise Institute (AEI)

Tim Muris
Foundation Professor, George Mason University School Of Law

Gerry Parsky
Senior Economic Advisor

Nancy Pfotenhauer
Former President, Independent Women’s Forum

James Rill
Partner, Howrey LLP and Former Assistant Attorney General (Antitrust), U.S. Department of Justice

Kenneth Rogoff
Professor Of Public Policy, Harvard University

Harvey Rosen
Professor Of Economics And Business Policy, Princeton University

John Silvia
Managing Director, Chief Economist, Wachovia Bank

Acquiles Suarez
Vice President For Government Affairs For National Association Of Industrial And Office Properties & Former Special Assistant To The President For Domestic Policy

Dr. John Taylor
Professor Of Economics At Stanford, Senior Fellow At The Hoover Institution & Former Under Secretary Of Treasury

Anthony Villamil
Chief Executive Officer, The Washington Economics Group, Inc. & Former Under Secretary Of Commerce For Economic Affairs

Joseph Wright
Chairman Of The Board For Intelsat

Mark Zandi
Chief Economist For Moody’s Economy.Com

James Rill
Antitrust Attorney at Howrey LLP; Former Assistant Attorney General in charge of the U.S. Department of Justice’s Antitrust Division

Sean O’Keefe
Former Secretary Of The Navy, NASA Administrator, & Deputy Director Of Office of Management & Budget, The White House

]]> By: Linda Maloney http://www.onpointradio.org/2008/10/issues-08-the-economy/comment-page-1#comment-4153 Linda Maloney Thu, 09 Oct 2008 15:05:06 +0000 http://www.onpointradio.org/?p=12611#comment-4153 Rob touched on a point that bothers me: What if the "vanished" equity belongs in large part to me, not to the lender? Mortgages that were no-money-down, interest-only, balloon-payment deals are one thing; mortgages that involved ten to twenty percent down and have been faithfully paid for many years are something altogether different! It seems to me that should the government buy up my mortgage, pay off the face value to the lender, and hand me a new note for the reduced value, I will have been robbed of every dollar of principal I paid in. No? Rob touched on a point that bothers me: What if the “vanished” equity belongs in large part to me, not to the lender? Mortgages that were no-money-down, interest-only, balloon-payment deals are one thing; mortgages that involved ten to twenty percent down and have been faithfully paid for many years are something altogether different!
It seems to me that should the government buy up my mortgage, pay off the face value to the lender, and hand me a new note for the reduced value, I will have been robbed of every dollar of principal I paid in. No?

]]> By: DonaldB http://www.onpointradio.org/2008/10/issues-08-the-economy/comment-page-1#comment-4152 DonaldB Thu, 09 Oct 2008 15:05:00 +0000 http://www.onpointradio.org/?p=12611#comment-4152 I might agree with David, except that it is one-sided, not two sided. The Republicans have been totally distorting their REAL programs for 25 years so as to sell them to the general public who then pays the piper. So Democrats have decided to stand up for themselves. But it is in the interest of the Republicans to make it look like a food fight and turn off people who have not been keeping up with the issues and thus see the exchange as a food fight. I might agree with David, except that it is one-sided, not two sided. The Republicans have been totally distorting their REAL programs for 25 years so as to sell them to the general public who then pays the piper. So Democrats have decided to stand up for themselves. But it is in the interest of the Republicans to make it look like a food fight and turn off people who have not been keeping up with the issues and thus see the exchange as a food fight.

]]> By: Ben http://www.onpointradio.org/2008/10/issues-08-the-economy/comment-page-1#comment-4151 Ben Thu, 09 Oct 2008 15:04:38 +0000 http://www.onpointradio.org/?p=12611#comment-4151 Good question Sara. I also wonder why we don't hear from candidates who do not support the bailout: Ralph Nader and Bob Barr. Sure, they probably won't win. But they definitely won' win if no one hears about them. Good question Sara.

I also wonder why we don’t hear from candidates who do not support the bailout: Ralph Nader and Bob Barr.

Sure, they probably won’t win. But they definitely won’ win if no one hears about them.

]]> By: Drew http://www.onpointradio.org/2008/10/issues-08-the-economy/comment-page-1#comment-4149 Drew Thu, 09 Oct 2008 14:59:48 +0000 http://www.onpointradio.org/?p=12611#comment-4149 This has been a waste of an hour show and hardly a debate of the economic issues. If your McCain advisor was not available for the full allotted time frame you should have rescheduled rather than let the Obama advisor blather on unchallenged over and over again. The softball questions lobbed at him contrasted with the tone taken with the McCain advisor as well. But, of course, there is no bias in the media. What a joke. This has been a waste of an hour show and hardly a debate of the economic issues. If your McCain advisor was not available for the full allotted time frame you should have rescheduled rather than let the Obama advisor blather on unchallenged over and over again. The softball questions lobbed at him contrasted with the tone taken with the McCain advisor as well. But, of course, there is no bias in the media. What a joke.

]]> By: Richard http://www.onpointradio.org/2008/10/issues-08-the-economy/comment-page-1#comment-4148 Richard Thu, 09 Oct 2008 14:59:26 +0000 http://www.onpointradio.org/?p=12611#comment-4148 Sara, if you'd listened you'd have heard that the McCain rep, Douglas Holtz-Eakin had to leave. Austan Goolsbee rocked. Tom, I'd love to hear him on the show again. He's a clear thinker and speaker. Sara, if you’d listened you’d have heard that the McCain rep, Douglas Holtz-Eakin had to leave.

Austan Goolsbee rocked. Tom, I’d love to hear him on the show again. He’s a clear thinker and speaker.

]]> By: Will Roberts http://www.onpointradio.org/2008/10/issues-08-the-economy/comment-page-1#comment-4147 Will Roberts Thu, 09 Oct 2008 14:59:12 +0000 http://www.onpointradio.org/?p=12611#comment-4147 I appreciate your guest's response to my previous comment. My information was based upon an Oct 5 AP story "Obama rejects McCain Mortgage Buy Up Plan" which did not address this aspect of Mr. Obama's criticism. Mr. Obaba is absolutely correct in saying that a program to purchase home loans must do so at the market value, not the face value, of those loans. (Hence my comment about the extension of the authority of the bankruptcy courts or a similar specialized court, to restructure and determine the value of these defaulted or foreclosed mortgages.) I appreciate your guest’s response to my previous comment. My information was based upon an Oct 5 AP story “Obama rejects McCain Mortgage Buy Up Plan” which did not address this aspect of Mr. Obama’s criticism. Mr. Obaba is absolutely correct in saying that a program to purchase home loans must do so at the market value, not the face value, of those loans. (Hence my comment about the extension of the authority of the bankruptcy courts or a similar specialized court, to restructure and determine the value of these defaulted or foreclosed mortgages.)

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