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math is hard!
Sep. 30th, 2008 04:55 pmLook, I only understood the nuts and bolts of the financial crisis as far as it pertained to Fannie, Freddie and foreclosed mortgages. Obviously other stuff is going on, and I want to be able to have a legitimate opinion on whether using our funds to bail out big institutions is... beneficial for us in the long run?
Then I got this petition in the mail: http://financialpetition.org/petition-nobail.shtml and I swear I don't even understand the crux of the petition any more than I understood Pelosi's speech.
The one thing I did understand, or thought I understood, yesterday, was the cooperation of world banks to put aside dollars and invest in other, more stable currencies. But then, how long can the Euro stay stable if the dollar is in flux? Actually, that counts as another question.
So,![[livejournal.com profile]](https://www.dreamwidth.org/img/external/lj-userinfo.gif)
qowf, jeviltwin, etc etc, can you take a look at the petition, tell me what it's saying, and try and explain the pros and cons of the bailout to me like I'm three?
If you're looking for a safe place to put your money, I've learned there's good projections for amateur/unrepresented Hungarian art; apparently it's safer than gold or bonds.
ETA:
From my father, a short (and helpful, to me) tutorial on the banking crisis and what the mortgage bailout has to do with it: ( why we're out of money )
I still don't understand the pros and cons of the $700B buyout as far as what other options there might be to restore the financial industry. Is there a way to solve the crisis bottom-up instead of this trickle down from banks through loans and industry? Some sort of government oversight committee set up to put caps on mortgages and make sure the homes get back to their low-income borrower/owners? What kind of checks and balances can we put in place to make a buy-in like this $700B work for the people?
Then I got this petition in the mail: http://financialpetition.org/petition-nobail.shtml and I swear I don't even understand the crux of the petition any more than I understood Pelosi's speech.
The one thing I did understand, or thought I understood, yesterday, was the cooperation of world banks to put aside dollars and invest in other, more stable currencies. But then, how long can the Euro stay stable if the dollar is in flux? Actually, that counts as another question.
So,
qowf, jeviltwin, etc etc, can you take a look at the petition, tell me what it's saying, and try and explain the pros and cons of the bailout to me like I'm three?If you're looking for a safe place to put your money, I've learned there's good projections for amateur/unrepresented Hungarian art; apparently it's safer than gold or bonds.
ETA:
From my father, a short (and helpful, to me) tutorial on the banking crisis and what the mortgage bailout has to do with it: ( why we're out of money )
I still don't understand the pros and cons of the $700B buyout as far as what other options there might be to restore the financial industry. Is there a way to solve the crisis bottom-up instead of this trickle down from banks through loans and industry? Some sort of government oversight committee set up to put caps on mortgages and make sure the homes get back to their low-income borrower/owners? What kind of checks and balances can we put in place to make a buy-in like this $700B work for the people?
