International Monetary Fund (IMF) and Obama Stimulus
If Obama thinks that the another $1 Trillion Stimulus Package is the answer to fix the US recession, he should heed the warnings of the IMF.
Advising the G20 Leading Nations that stimulus spending without financial sector cleanup is useless, IMF Managing Director Dominique Strauss-Kahn warned,
The IMF proposed solution ... fix the banks & the financial sector."Bluntly the situation is dire ... as the crisis spills over into developing countries, millions of people will be pushed back into poverty and hardship. All this will affect dramatically unemployment and beyond unemployment for many countries it will be at the roots of social unrest, some threat to democracy, and may be for some cases it can also end in war."
"You can put in as much stimulus as you want. It will just melt in the sun as snow if at the same time you are not able to have a generally smaller financial sector than before but a healthy financial sector at work," he said.
As stated in "Obama: Confident latest bank rescue plan will work, "Obama is now planning is to buy up the assets that are weighing on banks' balance sheets and are hampering banks' ability to resume more normal lending to consumers and businesses. The drop in lending has worsened and prolonged the recession. The plan seeks to draw in private investors with inducements like billions of dollars in low-interest loans to finance the purchases.
Couldn't this have happened with the first Obama's first "Stimulus Bill" or as titled the American Recovery and Reinvestment Act of 2009 (large file) and saved the US taxpayers trillions?
15 comments:
Hey David(Enews), Richard never left !!!
and you're right... with him back at the helm, it's not heaven help us , it's heaven help YOU...your gravy train left with Joe..
Ernest Barnett,
Will you be invited to Richard Garcia's wedding?
Fred Longoria passed away on Sunday. The City of Edinburg lost a great citizen and passed Councilman.
Mr Longoria was a true gentleman and will be missed...R.I.P.
Ernest Barnett,
Fred was a just suck up to the P family and all I have to say is good riddence.
To the person who posted at 1:48. May our Lord God forgive you.
I usually don't comment on the anonymous posts; however, to the person from E-News who posted at 1:48, you truely are a rat.
You guys from E-News have sunk to a new low.
Diaz you and the mayor and the senator and all your flunkies should get out of town. Nobody like you here.
wouldn't expect any less from david...he's always just been a tramp looking for a handout cause he's never been able to keep a real job...a no class trash mouth.
Ernest Barnett,
Not one post on here has anything to do with your website.
Here is the million dollar question. How did Mr. Fred Longoria get his stroke. Something happened to him to get that. It has all to do with Mr. Reps kid.
diaz how is edinburg mayor joe chavez going to help you. the guy didnt have the balls to fight mayor garcia because he knew he was going to lose. Look for a real job at Walmart.
For those of you who don't know. Aaron Pena III is married to Fred Longoria's daughter.
One night Aaron Pena III was beating his wife at home. She left to her parent's house. Aaron Pena III followed her and an altercation insued with him and Fred. Causing Fred to have a stroke.
HA, HA, HA Edinburg Mayor Joe Chavez!
I thought I was the only one that caught that. You give a guy some phony award the least you can do is to learn his name.
anonymity truly brings out the worst in people... Talking shit about Mr. Longoria and his family the same week as his funeral. Obviously the work of an uneducated, ignorant excuse-for-a-person.... karma is a bitch buddy, remember, you reap what you sow....
4:26 although i don't know if what you say is true about what induced mr. longoria's stroke i do know that aaron does physically abuse his wife. its no secret that that kid has anger issues! get help!
Post a Comment