Town Square

Post a New Topic

What do you think the results will be of Geithner's latest Banking plan?

Original post made by Perspective, Midtown, on Mar 28, 2009

In fact, what is Geithner's latest Banking plan? I am reading that Banks and Geithner are reaching some kind of truce, but I am worrying that we have no details of what the plan is, who it will affect, who will pay for any fall out etc. I am concerned that it will be another set-up like the Community Reinvestment Act, where people like me are fooled into cheering that more people of color own homes, not knowing that the way this happened was through betting the market would continue to grow, not vetting the ability to pay the mortgage, which led to defaults and my pocket financing irresponsible people. Is this going to happen with our banks? Are we going to cheer that banks are taking on the bad assets, only to learn in a few years that we have to cover the bad assets that didn't rise in value as expected?

This story contains 265 words.

If you are a paid subscriber, check to make sure you have logged in. Otherwise our system cannot recognize you as having full free access to our site.

If you are a paid print subscriber and haven't yet set up an online account, click here to get your online account activated.

Comments

There are no comments yet. Please share yours below.

Don't miss out on the discussion!
Sign up to be notified of new comments on this topic.

Email:


Post a comment

Posting an item on Town Square is simple and requires no registration. Just complete this form and hit "submit" and your topic will appear online. Please be respectful and truthful in your postings so Town Square will continue to be a thoughtful gathering place for sharing community information and opinion. All postings are subject to our TERMS OF USE, and may be deleted if deemed inappropriate by our staff.

We prefer that you use your real name, but you may use any "member" name you wish.

Name: *

Select your neighborhood or school community: * Not sure?

Comment: *

Verification code: *
Enter the verification code exactly as shown, using capital and lowercase letters, in the multi-colored box.

*Required Fields

Paris Baguette coming to Mountain View
By Elena Kadvany | 21 comments | 6,941 views

Sing and celebrate
By Sally Torbey | 7 comments | 1,396 views

Surviving Family Holidays
By Chandrama Anderson | 0 comments | 455 views

 

Palo Alto Weekly Holiday Fund

For the last 23 years, the Palo Alto Weekly Holiday Fund has given away more than $4 million to local nonprofits serving children and families. When you make a donation, every dollar is automatically doubled, and 100% of the funds go directly to local programs. It’s a great way to ensure your charitable donations are working at home.

DONATE HERE