The short answer is NO. But if you follow news about 401k plans, you might find some pretty scary headlines like this one or this one, where the writers contend that the Democrats want to take away the tax incentive out of 401k plans and force a mandatory pension savings of 5% on employees. [...]
Please watch this. Please pay close attention to the point, which is that the mistakes John McCain made in the Keating Five scandal are the very same mistakes he’s making today. Forget about the mudslinging he’s doing, forget about the nastiness, forget even about Sarah Palin for a minute. Watch this video and listen [...]
Interesting history of the pressures and difficulties of being Fannie Mae from the New York Times.
Shortly after he became chief executive, Mr. Mudd traveled to the California offices of Angelo R. Mozilo, the head of Countrywide Financial, then the nation’s largest mortgage lender. Fannie had a longstanding and lucrative relationship with Countrywide, which sold more [...]
You defeated the compromise.
Now fix it. Come up with a solution to this problem other than watching most of us in the middle class lose everything we’ve worked for.
Go ahead, I’m waiting.
You have 72 hours, starting now.
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Senator Dodd has done a pretty good job of fixing what was wrong with Paulson’s proposal. Here’s the PDF summary, and here’s the PDF text.
High points:
Transparency:
Establishment of an oversight board
Required transparency - specifically, that the program’s details be laid out with policies and procedures
Improved Reporting - Monthly reporting, and detailed financial statements describing specific transactions
GAO [...]
After reading Francine Hardaway, Dave Winer and Steve Gillmor today, it occurs to me that we are not under any obligation to accept the Bush Administration’s claim that their way is the only way out, or hand off incredible power to the Secretary of the Treasury with absolutely no understanding of how that power is [...]
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