2013 09 16  NYT.com:

QUOTATION OF THE DAY

"I have reluctantly concluded that any possible confirmation process for me would be acrimonious and would not serve the interests of the Federal Reserve, the administration or, ultimately, the interests of the nation's ongoing economic recovery."

LAWRENCE H. SUMMERS, withdrawing from consideration for chairman of the Federal Reserve.

to which we might add:

ongoing economic recovery”     from the devastation for which Summers is responsible as much as any other of an elite group, including Rubin and Greenspan, of stupid greedy males who belittled and snubbed CFTC Chairperson, Brooksley Born and FDIC Chair Sheila Bair to blunder the world into the morass from which we continue to struggle, while nearly all of the operatives, enabled by Summers, Rubin, & Greenspan, continue enriched in the booty SECured at the expense of the 99% of us.

Wishing for the next Fed ChairPerson to Lead the Transformation in 2 part harmony:

Part 1

It is not about TAXES, which is a diversionary cover (TARP) for the principle tool of inequity:  Interest rates.  Only the rich qualify for low interest, which is the primary tool by which to become richer. 

This writer is dismayed at the inability of the 99% to even effectively speak for the primary remedy for global malaise:  leveling interest rates.  That is:  all people, organizations, and businesses -- pay the same $price for $money.  Qualification for loan, amount, and terms are three other matters. 

But the interest rate must be common ground.

Part 2

How quickly have we forgotten, obscured by the GreenspanRubinSummers saga, how this may work reliably, consistently: 

Thou Shall Not SECuritize home mortgage Loans.

i.e. The home Loan must be Local. 

The result of the fantasy that such SECuritization would democratize homeOwnership should be clear now to all.  Yes, there was a problem in the 50s with regard to discriminatory lending.  But the solution was usurped by the stupid greedy males who tarped their greed with public illusion of "helping the needy" with "non-Discriminatory" policies.  This is all well documented in Gretchen Morgenson's RECKLES$ ENDANGERMENT.

My suggestions beginning 2009 Jan 27, being a commoner, were of course ignored.  If you are satisfied with the result, don't bother with this current invitation to re-examine my struggles to articulate avoidance of this unlimited, always hopefully reversible,  slide.

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distilled to 1500-char limit for NYT comments:

john NCAD Cincinnati Arch
..Today’s Quote --to which we add: [“...ongoing economic recovery”] from the devastation for which Summers is responsible as much as any of an elite group, including Rubin and Greenspan, of stupid greedy males who belittled and snubbed CFTC Chair Brooksley Born and FDIC Chair Sheila Bair to blunder the world into the morass from which we continue to struggle. Wishing the next Fed ChairPerson to Lead the Transformation in 2 part harmony:
Part 1 --It is not about taxes, it is Interest RATES. Only the rich qualify for low rates, the primary tool to be richer. Why don’t the 99% even get this? Level interest rates. All borrowers pay the same $price for $money. Qualification for loan, amount, and terms are other matters. But the interest rate must be common ground.
Part 2 --How quickly have we forgotten how this may work reliably, consistently: Thou Shall Not SECuritize home mortgage Loans. i.e. The home Loan must be Local. People are not well-served by over-centralization of: food / $.
The ruse SECuritization would democratize homeOwnership is clear. Yes, there was a problem in the 50s with discriminatory lending, etc. But the solution was usurped by stupid greedy males tarping their greed with public illusion of "helping the needy" with "non-Discriminatory" policies; all well documented in Gretchen Morgenson's RECKLES$ ENDANGERMENT.
http://ncad.net/Advo/Finance/commonGround.htm
Sept. 16, 2013 at 10:42 a.m.    Reply    Recommend.

2009 Apr 12  rant on Interest Rates