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Thursday, March 27, 2008
Amanda Carpenter :: Townhall.com Columnist
Hillary and Obama's Econ Fixes
by Amanda Carpenter
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Was the Copenhagen Global Warming Summit Walk-Out a Win for the U.S.?


Clinton said her job training program would be “universally available” and would preemptively target manufacturing workers whose jobs were in peril.

“When it comes to retraining assistance, our government is more focused on how you lost your job than how you can find a new one,” Clinton said.

McCain senior policy adviser Doug Holtz-Eakin and RNC Victory Chair Carly Fiorina held a conference call to address the content of Obama’s speech.

Holtz-Eakin criticized Obama for not providing enough details about his six-point regulatory plan. When speaking, Obama said he would not try to “cross all the T’s and dot all the I’s” on it in a single speech.

“The devil will be in the details and as he will put forward more proposals we will look at them,” Holtz-Eakin said.

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About The Author
Amanda Carpenter is the author of “The Vast Right-Wing Conspiracy's Dossier on Hillary Clinton,” published in October 2006.
 
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Reply # 1
Date: Mar 28, 2008 - 5:53 PM EST
Loans and Handouts Are Different
Zapdoodat asks as to handouts, "Like the $230 billion handout Wall Street got last week."?

Not true.

Certainly, the Government made some money available, for a price, to help JP Morgan negotiate the debts piled up by Bear Sterns. However, unlike the money that Clinton/Obama want to dish out, this money is expected back, with interest.

One is called a loan, the other a handout. Try not to confuse the two. The difference is important.
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Reply # 2
Date: Mar 28, 2008 - 5:41 PM EST
Subprime Here Refers To Risky Borrowers
Stevl offers as to Subprime loans, "I think what Obama is referring to is the way that Wall Street sold subprime debt on the secondary market and gave it "AAA" (high) ratings."

Psst: For your information, the word "subprime" used in today's crisis refers to the borrowers being less than prime candidates. You are confusing the issue. Or, do you really think Obama recommends sending money to "secondary market" investors to make up for their losses?

Lenders took risks on subprime borrowers, who, lived up to their reputations and defaulted. Those poor borrowers, who had nothing before, walked away with as much or more, afterward. However, the Lenders, thinking that if all else fails, they still have equity in the homes and thought it was any easy money risk, lost a fotune when the housing market tumbled.

Now, some of those Lenders' are crying that they did not know that the borrowers were subprime, but I think they are being disengenuous -- trying to save their reputations and careers. They, like Bear Sterns, gambled thier investors monies and lost. No big deal. Let's move on.
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