Nouriel Roubini: The $700 Billion Bailout Isn’t Enough

Slaves Had it better

the slaves had free room and board. we have the equivalent of a mortgage payment for the employers health insurance, a mortgage, food prices out of this world, yearly increases in insurance, county property taxes based on inflated house prices, state taxes with no end in sight. Why does it take twice the amount of money for the public school system verses the private sector per student? Why does the Government borrow the budget every year when Reagan had an out source company come in to look at the usa budget and recommended cuts yet nothing happened? When are we going to run the Government like a business so you don't have the money you don't spend it?!!!Why did they have a car in the 1970's that could go 100 miles per gallon just like the ford for 65 miles to the gallon and we can't get that vehical? Why did they get rid of the battery that never needed charging?

The problem with socialism is that eventually the government runs out of money. I think the USA is headed for bankruptcy!

RJ of MN Business Owner of MN @ Jan 28, 2009 13:02:01 PM

Oh but the banks and the corporate exec's have done such a wonderful job of running things.Who else can bail them out except the government

of @ Jan 28, 2009 12:58:26 PM

To Sarah of CA, et al

Why should any of us have to bail out people (I'm assuming like yourself) who bought overpriced homes?

People who bought into the stupidity that real estate always goes up and never goes down should have to suffer through the pain of their mistakes. My thesis is Most of you people have very little equity in your home to lose anyway. So, why should you get a windfall on a recasting of terms to a lower principal amount? You shouldn't. You should lose it all, and let someone smarter than yourself get that house at a reduced price. You bought high. They get to buy low. That's how it works. One things for sure, you'll likely think twice next time before you sign onto a realtor or car dealer sales pitch.

I don't see anyone signing up to bail me out of the stock market losses I've taken in my 401K, which are probably substantially more than the non-equity losses you'll have in that house. Where's the justice in that? That was real money. Your's is not.

Schmedly of PA @ Jan 07, 2009 19:14:28 PM

blue caller gangsters

It reminds me of move American gangster, the only thing thats different is that the heroin is the money and the dealers are the politicians and the banks and the real estate and housing counselors. And the users are the tax payers. and as long as we set back and trip will never rid them of are neighborhoods. We need stand up and say no more before were living in the streets and the alleys. And eating out of there trash cans and Dumpster diving.

thatguy57 of AZ @ Dec 27, 2008 01:33:45 AM

Yeah, let's let the financial sector run everything, they do it sooo well, we don't have to think anymore, deregulation, it's sooo good. Sorry.

of NY @ Dec 26, 2008 07:20:30 AM

Old receipe, bad results

Again one economist who doesn't believe the free market works. Goverment intervention in housing and in a lot of other sectors as well as very poor regulation (the Madoff scandal is another example of what regulators can do...)brought us to this point. More misallocation of resources won't solve the problem Mr. Roubini. You are only a talented socialist who has no idea how to solve the problems we have. Predicting bad news is not enough.

Chicagoan of IL @ Dec 24, 2008 10:25:59 AM

'worked in the Clinton administration as an economic advisor'

Hey, Richard A. Clarke worked in the Bush administration as a national security adviser - but did they listen to him?

This folks, is what's known as an ad hominem attack with a little guilt by association spin. How about examining Roubini's actual track record and picking apart his ideas, not people he may have once sat through rubber chicken policy luncheons with?

I'm sure glad the USA managed to win two World Wars and a Cold War, build transnational railways, highways, energy grids and water and wastewater treatment plants all without Big Government. Oh, wait, those were all accomplished by the Invisible Hand and the Fraternal Worshipers of Mammon and Trickledown, weren't they?

egads of CA @ Dec 22, 2008 14:09:03 PM

The Visa is Maxxed!

I think he was excellent as an advisor to Clinton. Wages increased during the nineties.

The last eight years wages have been stagnant, and borrowing has been excessive. We cannot have an economy that is 2/3 consumer spending. What supports that, the other 1/3? We have collectively racked up the national 'Visa' card, and now it's maxxed. We have already taken the screwing, we just haven't paid for it yet.

Major Blunder of WA @ Dec 22, 2008 11:17:27 AM