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Reply #18: the government steps in [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
Two Americas Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-30-08 07:40 AM
Response to Reply #5
18. the government steps in
The government becomes the lender and employer of last resort.

Farmers at one time couldn't afford land and the capital needed each year for operating expenses. The government stepped in and directly solved the problem, so we could all keep eating. Guaranteed loans, work projects, training, subsidies, improved infrastructure, and other supports.

The government did not tell the financial institutions to go hog wild investing in ag property, and then when loans went bad because of an orgy of greed and speculation, make good the losses of the financial institutions and let the framers be thrown off the land and the people go hungry.

The choice was this: protect the financial industry and lose farms or protect the farming industry from the financial industry and the free market. The government did not say that by protecting the financial industry from its own mistakes, that the farmers would somehow be magically helped by that. True, if the farmers had been unable to get credit, they would have gone under and we would have had dogs and cats living together and God knows what sort of meltdown.

Help the banks and destroy the farmers, or help the farmers and rein in the banks and do the job they are unwilling or unable to do. Easy choice. We face the same choice today.

We have solved these problems before, and the only thing standing in the way now is the pernicious and pervasive free market ideology that puts the cart before the horse and has everyone unable to understand or attack the problems directly.
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  -Lou Dobbs just now on CNN states that the credit markets aren't frozen. So... Feeney2  Sep-30-08 07:01 AM   #0 
  - I don't trust anything Lou Dobbs says even if he is right  JonLP24   Sep-30-08 07:01 AM   #1 
  - lol  Two Americas   Sep-30-08 07:22 AM   #12 
     - No problem  JonLP24   Sep-30-08 07:23 AM   #13 
  - there is credit for the big guys but it's VERY expensive. n/t  AZDemDist6   Sep-30-08 07:02 AM   #2 
  - Lou's just trying to rile up the uninformed masses. Ignore him. nt  Vinca   Sep-30-08 07:03 AM   #3 
  - They aren't frozen, just tighter. NPR interviewed business owners...  polichick   Sep-30-08 07:06 AM   #4 
  - If they're not frozen solid yet, they're at a glacial pace  Warpy   Sep-30-08 07:06 AM   #5 
  - the government steps in  Two Americas   Sep-30-08 07:40 AM   #18 
  - Why is he still breathing?  nradisic   Sep-30-08 07:07 AM   #6 
  - Cause Lou Doobies Said So????  KharmaTrain   Sep-30-08 07:07 AM   #7 
  - Lou is just smirking his way through this whole mess  new_beawr   Sep-30-08 07:08 AM   #8 
  - A friend of mine just financed  Suspicious   Sep-30-08 07:10 AM   #9 
  - I think these anecdotal stories we keep hearing are all coming from Repigs  NNN0LHI   Sep-30-08 07:11 AM   #10 
  - Warning -- bailout, now! now! now! -- WMD imminent danger -- bailout or die terror fear horror fear  judasdisney   Sep-30-08 07:22 AM   #11 
  - if Lou Dobbs  loyalkydem   Sep-30-08 07:29 AM   #14 
  - Our local banks say they do not have a problem. We're talking about getting a consolidation loan  OregonBlue   Sep-30-08 07:31 AM   #15 
  - In my neighborhood -  Suspicious   Sep-30-08 07:34 AM   #16 
  - I don't think it's frozen  spinbaby   Sep-30-08 07:37 AM   #17 
  - maybe they shouldn't trust  Two Americas   Sep-30-08 07:51 AM   #19 
  - LIBOR's through the roof...  Davis_X_Machina   Sep-30-08 08:09 AM   #20 
 

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