The executives are still intending to take their obscene salaries and bonuses. They owe the American citizen a reprieve

If we are keeping their businesses from becoming worthless we should be calling the terms.

The usury imposed on credit card holders has helped create the mortgage crisis

When a man loses his job, and misses a single credit card payment, his interest goes to 30 percent forever and he loses any chance to ever pay off the debt and possibly his home too

As far as I am concerned, any bank that speculated itsstock value to zero has lost the right to strangle its cardholders for their last drop of blood, when they are skinning those same card holders alive for the rest of their natural born lives to finance the bailout

There’s a lot of interesting thinking behind what constitutes “currency”.

Well, now’s the time for them to start coming out and being tried. It’s a difficult problem, since having a currency backed by real value would mean that one must generate that value before the currency can be printed, which means that there is extra value sitting behind each unit (1 piece sitting idle in safe-keeping for currency convertibility and another in the value of the currency, itself, as it were).

I was toying with the idea of _human life_ backing a currency….

LimeyGeek on November 26, 2008 at 12:18 PM

Funny, but I think that this is something more along the lines of how the thinking has to go. There has to be a backing to the currency that goes beyond some raw asset and some sort of a “living” backing is closer to what we need. Not human life, of course, but something not too different.

P.S. We could easily have a “human life”-backed sort of currency (a bit of a stretch, but close enough for the analogy) if we would be given full control of our citizenship, including the right to sell it (subject to the normal security checks, etc. that any immigrant must pass). I have been a big proponent of allowing Americans to actually own our citizenship and have markets for citizenship – instead of letting the Feds do with citizenship the same thing they do with the currency – print up as many as they want and give them away to anyone.

The quickest way out is a painful recession. If we keep trying to put off taking our medicine, it will be a devastating depression.

progressoverpeace on November 26, 2008 at 12:11 PM

There’s a lot of interesting thinking behind what constitutes “currency”.

I was toying with the idea of _human life_ backing a currency….

I know that this won’t happen, but it’s nice to dream a little in these darkening days.

The bailout mania has already rung up $700 billion that Junior will have to pay…….

……………. $7 TRILLION, and counting.

Ed, why isn’t the GOP hammering that point home to parents? That their kids will suffer if the government continues spending like this? Isn’t this an issue that parents can understand and then rally to our side around? (That is, assuming that our side will stop the spending too…)

beatcanvas on November 26, 2008 at 10:30 AM

Because for one we’ll be sounding like the Obama worshippers for the next 4-8 years (should his Obamaness [blessings upon him] get another bite at the apple) blaming Bush.
I sound like one of them as I’ve been holding Bush responsible.
The escape is that BHO (may the light he brings to us shine in our souls) and Bush are agreeing!

Same reason McCain wouldn’t hammer subprime loans – because they are neck-deep in it.

SlimyBill on November 26, 2008 at 11:08 AM

McCain isn’t neck deep into subprime loans. If he was, there would have been much rejoicing and gnashing of teeth by the Dems.

No, in fact lack of a Republican face and general silence on the issue tells me that there isn’t a single “culture of corruption” Republican they could single out to crucify.

McCain was silent because he felt like reaching across the aisle would get him elected. Worked well didn’t it? He was simply an idiot.

I think that what is true of many in the GOP, is that they lack the intestinal fortitude to let things fail for fear of not being re-elected. Wrong approach.

Sigh. We are in for a few very bumpy years.

Ed, why isn’t the GOP hammering that point home to parents?

beatcanvas on November 26, 2008 at 10:30 AM

Same reason McCain wouldn’t hammer subprime loans – because they are neck-deep in it.

Apparently nobody is interested in the fact that there is no Constitutional authorization for the US government to intervene in the economic thrill-ride.

The bailouts are illegal. Anyone care about that? Our government is acting illegally, yet we don’t have the integrity to care because it is being sold to our unthinking and lazy minds as being “for our good”.

Sorry Ed, should have read your commentary instead of babbling the same point.