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Interesting proposed solution to this financial crisisFriday, September 26, 2008
This morning I learned that Washington Mutual became the largest bank to fail in the nation's history. I wonder how many days will pass before another financial institution bites the dust. Financial expert and nationally syndicated radio talk show host Dave Ramsey proposed an interesting solution to the proposed bailout on his Web site. It's quite an enlightening read. Here's a summary of his more in-depth solution: "Companies that had billions in subprime loans were feeling the effects of their stupid decision to make those loans in the first place, and practically gave them away for pennies on the dollar. But since no one wants these loans, and they've had to mark them down to market value, it has frozen the market. If we temporarily change the rule that forces companies to do that, that will free the market up."
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Brian Blackwell is the newest reporter at the Southeast Missourian, focusing on business. A May 2008 graduate of the University of Nebraska, Brian is an avid Cornhusker fan. When he is not covering the business community for the newspaper, Brian enjoys spending time with his wife and church family, cheering on the Cubs and Cornhuskers, wishing for snow and hiking on the numerous area trails.
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what a pompous rear end thing to say elijah.
Brian, this is the first piece you have written since you have been here that I have had interest in. Dave Ramsey's solution may be too easy or simplistic for some however I know people that have followed his advice and have been much better off because of it; my wife and I also adhere to his teaching on finances. I am impressed that you are quoting Dave and will re-evaluate my thoughts on your column; perhaps I have jumped to conclusions, I believe I will give you more opportunity before I draw any further conclusions. Way to go Brain, I'm encouraged and impressed.