Ouch! Greed exposed – Your $45 broadband costs your Internet Service Provider (Comcast – Time Warner) … $1.35

As quoted from “The Problem With Cable Is Television“

“The operating cost of providing broadband service is low and getting lower. At Time Warner, the cost of connecting to the Internet and other direct costs of providing its high-speed data service fell to $33 million, down 18 percent. That represents just 3 percent of the revenue it collects for broadband service. But it doesn’t include the capital expenses needed to upgrade the network. Comcast reported $120 million of costs for high-speed data service, down 13 percent from a year ago. That represents 6 percent of its data revenue.”

Ok.. so If you pay $45 a month for broadband … it costs them $1.35 at Time Warner … and $2.70 at Comcast.

Lets put that in perspective … lets say it cost $1.35  to make a loaf of Wonder Bread (Of course that doesn’t include packaging upgrades) … $45 to buy it? … No more outrageous than the cost of broadband!

To add insult to financial injury they want to raise the price.

Do you think broadband users should be paying to subsidize Comcast and Time Warner Cable Television?

Dishonesty, Deception, Trickery … it’s the way of doing Business in America

Why has America accepted these practices with an “Oh well!” attitude.

Why aren’t we outraged when Monster Cables sells an HDMI cable for $79.99 that they imply works better than a standard cable  when video expert (Scott Wilkinson) will tell you the $5.99 HDMI cable works the same. Dishonesty is everywhere. Companies will go to any length to increase their bottom line … ethics be damned. Those who choose to mislead others discover that this is not the type of corruption that sends people to prison. It is more a matter of intellectual dishonesty and lack of personal ethics. Compensation has replaced ethics as a governing principle.

If you have to “trick” me into buying your product through overstating its merits or altering the packaging to make it appear larger or the same size with less content you’re being dishonest … your moral values need work. The “That’s the way its done in this business” excuse just doesn’t cut it.

“Deception and dishonesty are running rampant practically everywhere you go. It’s exhausting trying to sift through it all and get to the truth. This is what is considered “marketing.” It has gotten to the point that if you are honest in what you are selling, you must be some sort of “fool.” However, what is “foolish” is not to recognize that if you are being deceptive in your business dealings, so is everyone else. Therefore it simply is not intelligent to continue these practices. Everyone seems to be doing his or her very best to try and take advantage of everyone else.” Quoted from an excellent article by Elizabeth Fink .

Some of my personal observations:

Java update with the pre-checked toolbar install … Every time there’s a new java update it try’s to trick you into installing either Open Office or some toolbar by having a pre-checked box about 1/2 way through the install … anytime there is a pre-checked box to install something like this they are being dishonest. The “That’s the way its done in this business” excuse just doesn’t cut it.

“Like New” items on EBay … EBay is a good place to find items and lots of those items are used. Unfortunately many sellers  overstate the condition of the item or fail to mention material defects.  Yes …  it would have helped to know the cooling fan on that router doesn’t work. What do you mean you forgot to mention there was a 4 inch crack on the back of that antique figurine? The “That’s the way its done in this business” excuse just doesn’t cut it.

Credit card bill mailing and late charges … Credit card companies make a large profit on late payments either by charging a late fee of $30-$40 dollar or by raising the interest rate on your balance … or both. Did you think it was a coincidence that you receive your bill only 5 or 6 days before its due? The “That’s the way its done in this business” excuse just doesn’t cut it.

The towing and car rental premium on your insurance policy … That $30-$50 charge on your insurance policy premium for towing that your agent didn’t mention when quoting a price … because he gets a big commission on it. Many people already have this coverage with AAA or some other entity. The “That’s the way its done in this business” excuse just doesn’t cut it.

The guy on eBay that sells his item for $1 with shipping charges of $27.99 – I can’t think any of the carriers charge more than $5 dollars to deliver a DVD (the item was shipping 1st class mail which actually costs less than $2). EBay charges a commission based on the sale price of the item sold. If the seller is willing to cheat EBay they are probably willing to cheat you too. The “That’s the way its done in this business” excuse just doesn’t cut it.

USB cable not included or power adapter optional … Granted some printers now come with a USB cable but many still don’t and buying one at Staples or Office Depot for $15 (they are about $5 delivered on Ebay) just adds insult to injury. Battery operated electronics that sell a power adapter separately. No Thanks! The “That’s the way its done in this business” excuse just doesn’t cut it.

The tire sale … advertisement – 15″ name brand tire only $39.99. Of course when you arrive the model for your car is out of stock but there happens to be a Goodyear model available for only $15 more … and did you want that mounted, balanced, a new air valve … the total $72.99.  “Oh, by the way, I noticed your brakes pads are getting low .. we’re having a special this week”.  The “That’s the way its done in this business” excuse just doesn’t cut it.

The $19.99 Jiffy Lube oil change … No sir, the $19.99 price is only for certain models your car model costs $29.99. Did you want to replace the air cleaner too, no that’s not included … but  it’s only $9.99 more?  The “That’s the way its done in this business” excuse just doesn’t cut it.

Free download … When you search for freeware you’ll come across a lot of sites that say “Free Download” these are not for freeware but software that requires a fee … free to download? Who charges to download?  Its not free to use. Shame on them for misleading us. The “That’s the way its done in this business” excuse just doesn’t cut it.

Buying an item then wearing or using it and returning it ... Businesses aren’t the only ones cheating … I think we all know someone who has bought an item for short term use then returned it to the store for a full refund. Its even worse when they brag about it … The store has to reduce the selling price. You may as well have dipped your hand into the cash register. I hope you don’t have children you are teaching these morals to.

Indeed dishonesty, deception and cheating are all common place. “It is exhausting trying to sift through all of this deception. Nothing is easy anymore. You need to take your time and read the fine print on practically everything. You need to have received a college degree practically to be trained in deception in order to be able to see through it. It is unfair and taking advantage of the public at large. We should not continue to be so accepting of these practices.” Quoted from an excellent article by Elizabeth Fink .

Here is another story I spotted that makes my point.   From an article in the Telegraph News

Managers at Comet, Britain’s second biggest electrical store, forced staff to lie to customers to boost profits, an employment tribunal heard last week. They encouraged assistants to deceive shoppers into paying for unnecessary extras such as extended warranties, credit agreements and accessories, according to a former employee.

As a result of the allegations, Comet – whose mission statement is to aim to be the “most trusted and respected” electrical retailer – has been stung into launching an internal investigation. Gareth Sweeney, a former salesman who worked at the Comet store in Llansamlet, south Wales for 4.5 years, cataloged a series of sharp practices intended to squeeze money from customers.

Mr Sweeney, 45, told the tribunal in Cardiff that staff were told to give 40 per cent discounts to those prepared to pay for full warranties – but just 10 per cent if they refused. Customers who showed an interest in Sky television were offered just one package costing £40 a month and none of the cheaper options, he said.

Sales staff also gave false demonstrations of equipment to encourage customers to buy expensive cables, he told the tribunal. In one instance, Mr Sweeney said, they altered settings on DVD players to make it appear that a £60 cable produced a better picture than one costing £29.90, even though there was no difference.

Mr Sweeney, a father of two from Llanelli, near Swansea, also alleged that staff were encouraged to push accessories into the hands of customers even if they did not need them. Staff were also told not to use the term “store card” because it was associated with high interest rates, he said. Instead, they asked customers if they wanted to open a “store account”.

Mr Sweeney is claiming constructive dismissal after leaving his £20,000-a-year job. He told the tribunal on Friday that he resigned after being told that he faced a disciplinary hearing for not selling enough extra products. He said that sales assistants who sold more extras – called “key performance indicators” by the company – were rated higher than those who sold more goods. “I could sell £30,000 worth of items but no extras, but the celebrations would be for someone who sold lots of extras but just £2,000 worth of goods. I was bullied and pressured into selling extras,” he said.

“It was the final straw when I received a letter from a sales manager telling me to attend a disciplinary hearing because I had fallen down on my targets. “I felt as if I was being punished for being honest and decent to customers. I decided that the mis-selling of DVD connection leads amounted to deception on our part,” he said.

OK … so that is the end of my rant on dishonesty in America. My Advice to you … Steer clear of these unethical merchants and remember to treat others as you would like to be treated yourself.

Microsoft Cuts Windows Home Server Price

I use and love my Windows Home Server. I’m still running the trial so I’m glad I waited …

read more | digg story

Surprise, surprise: iPhone now supports podcast downloads

You may have been scratching your head when Apple rejected the Podcaster application from publication at the App Store. Apple said at the time that the decision was made because the application replicates a feature that already exists in iTunes, but a new leak from the iPhone 2.2 firmware points to another possible reason:

read more | digg story

Meet Jeanette McDermott from Ecopaparazzi.com

What Jeanette McDermott is doing to help get this planet back on the right track is so cool. If you want to learn/do/see how to leave a smaller carbon footprint, check out this new site, Ecopaprazzi.com

read more | digg story

FCC Clears Free National Internet Plan

Plans to offer national free wireless Internet access got a boost on Friday when the Federal Communications Commission released a report stating that the plan would not interfere with service from other wireless carriers.

read more | digg story

Absentee Ballot – Be careful … you could poke your eye out with that thing!

Pencils are dangerous – Remember the warnings you got from your mother … “if you stab yourself you’ll get lead poisoning” (actually Mom … it’s not lead its graphite) and “Be careful … you could poke your eye out with that thing!”

 

I received my absentee ballot in the mail the other day and was ready to fill it out and send it in … but then I read:

“WARNING: Use only a No. 2 pencil.  “

 

You’ve got to be kidding me … I haven’t even seen a pencil in years! I searched through my “junk drawers” – where I find all kinds of interesting artifacts .. but no pencils. I asked my mother who has at least 6 of everything … NOPE! I asked co-workers at the office “You got a #2 pencil?” – they had no pencils. I’m determined not to go to the store and a buy a #2 pencil.

If you have a pencil then you need a pencil sharpener too right?

Those pencil erasers always wear down or break off so you also need one of those big erasers.

What if my pencil doesn’t say the number on it … #2 is not the only pencil you know!

So why did do we start using pencils on tests and ballots … and why are we still using them?

From howthingswork.virginia.edu: 

“The #2-pencil requirement is mostly historical. Because modern scantron systems can use all the sophistication of image sensors and computer image analysis, they can recognize marks made with a variety of materials and they can even pick out the strongest of several marks. If they choose to ignore marks made with materials other than pencil, it’s because they’re trying to be certain that they’re recognizing only marks made intentionally by the user. Basically, these systems can “see” most of the details that you can see with your eyes and they judge the markings almost as well as a human would.

The first scantron systems, however, were far less capable. They read the pencil marks by shining light through the paper and into Lucite light guides that conveyed the transmitted light to phototubes. Whenever something blocked the light, the scantron system recorded a mark. The marks therefore had to be opaque in the range of light wavelengths that the phototubes sensed, which is mostly blue. Pencil marks were the obvious choice because the graphite in pencil lead is highly opaque across the visible light spectrum. Graphite molecules are tiny carbon sheets that are electrically conducting along the sheets. When you write on paper with a pencil, you deposit these tiny conducting sheets in layers onto the paper and the paper develops a black sheen. It’s shiny because the conducting graphite reflects some of the light waves from its surface and it’s black because it absorbs whatever light waves do manage to enter it.

A thick layer of graphite on paper is not only shiny black to reflect light, it’s also opaque to transmitted light. That’s just what the early scantron systems needed. Blue inks don’t absorb blue light (that’s why they appear blue!), so those early scantron systems couldn’t sense the presence of marks made with blue ink. Even black inks weren’t necessarily opaque enough in the visible for the scantron system to be confident that it “saw” a mark.
In contrast, modern scantron systems used reflected light to “see” marks, a change that allows scantron forms to be double-sided. They generally do recognize marks made with black ink or black toner from copiers and laser printers. I’ve pre-printed scantron forms with a laser printer and it works beautifully. But modern scantron systems ignore marks made in the color of the scantron form itself so as not to confuse imperfections in the form with marks by the user. For example, a blue scantron form marked with blue ink probably won’t be read properly by a scantron system.

As for why only #2 pencils, that’s a mechanical issue. Harder pencil leads generally don’t produce opaque marks unless you press very hard. Since the early scantron machines needed opacity, they missed too many marks made with #3 or #4 pencils. And softer pencils tend to smudge. A scantron sheet filled out using a #1 pencil on a hot, humid day under stressful circumstances will be covered with spurious blotches and the early scantron machines confused those extra blotches with real marks.

Modern scantron machines can easily recognize the faint marks made by #3 or #4 pencils and they can usually tell a deliberate mark from a #1 pencil smudge or even an imperfectly erased mark. They can also detect black ink and, when appropriate, blue ink. So the days of “be sure to use a #2 pencil” are pretty much over. The instruction lingers on nonetheless.”

About Pencils

“One pencil can write 45,000 words or draw a line 35 miles long. It can write in zero gravity, upside down or under water. The “lead” is non-toxic graphite – the wood is cedar. Mass produced in Europe since 1622, the first U.S. pencils were made in 1812. And why are 75% of all pencils yellow? During the 1800s, the best graphite came from China. Yellow is the color they associate with royalty and respect. A pencil painted yellow became know as the best pencil you could buy.”

Here is the front page of Maryland Absentee Ballot. Where it actually says ” Mark only with a #2 pencil. DO NOT ERASE.“

BOO! Senate passes bill (SECTION-BY-SECTION ANALYSIS OF THE LEGISLATION) . House … JUST SAY NO!

BOO! Senate passes worse bill in hopes House will approve it.

I say “VOTE OUT ALL THE YES VOTERS“

SECTION-BY-SECTION ANALYSIS OF THE LEGISLATION
Section 1. Short Title.
“Emergency Economic Stabilization Act of 2008.”
Section 2. Purposes.
Provides authority to the Treasury Secretary to restore liquidity and stability to the U.S. financial system and to ensure the economic well-being of Americans.
Section 3. Definitions.
Contains various definitions used under this Act.
Title I. Troubled Assets Relief Program.
Section 101. Purchases of Troubled Assets.
Authorizes the Secretary to establish a Troubled Asset Relief Program (“TARP”) to purchase troubled assets from financial institutions. Establishes an Office of Financial Stability within the Treasury Department to implement the TARP in consultation with the Board of Governors of the Federal Reserve System, the FDIC, the Comptroller of the Currency, the Director of the Office of Thrift Supervision and the Secretary of Housing and Urban Development.
Requires the Treasury Secretary to establish guidelines and policies to carry out the purposes of this Act.
Includes provisions to prevent unjust enrichment by participants of the program.
Section 102. Insurance of Troubled Assets.
If the Secretary establishes the TARP program, the Secretary is required to establish a program to guarantee troubled assets of financial institutions.
The Secretary is required to establish risk-based premiums for such guarantees sufficient to cover anticipated claims. The Secretary must report to Congress on the establishment of the guarantee program.
Section 103. Considerations.
In using authority under this Act, the Treasury Secretary is required to take a number of considerations into account, including the interests of taxpayers, minimizing the impact on the national debt, providing stability to the financial markets, preserving homeownership, the needs of all financial institutions regardless of size or other characteristics, and the needs of local communities. Requires the Secretary to examine the long-term viability of an institution in determining whether to directly purchase assets under the TARP.
Section 104. Financial Stability Oversight Board.
This section establishes the Financial Stability Oversight Board to review and make recommendations regarding the exercise of authority under this Act. In addition, the Board must ensure that the policies implemented by the Secretary protect taxpayers, are in the economic interests of the United States, and are in accordance with this Act.
The Board is comprised of the Chairman of the Board of Governors of the Federal Reserve System, the Secretary of the Treasury, the Director of the Federal Home Finance Agency, the Chairman of the Securities and Exchange Commission and the Secretary of the Department of Housing and Urban Development.
Section 105. Reports.
Monthly Reports: Within 60 days of the first exercise of authority under this Act and every month thereafter, the Secretary is required to report to Congress its activities under TARP, including detailed financial statements.
Tranche Reports: For every $50 billion in assets purchased, the Secretary is required to report to Congress a detailed description of all transactions, a description of the pricing mechanisms used, and justifications for the financial terms of such transactions.
Regulatory Modernization Report: Prior to April 30, 2009, the Secretary is required to submit a report to Congress on the current state of the financial markets, the effectiveness of the financial regulatory system, and to provide any recommendations.
Section 106. Rights; Management; Sale of Troubled Assets; Revenues and Sale Proceeds.
Establishes the right of the Secretary to exercise authorities under this Act at any time. Provides the Secretary with the authority to manage troubled assets, including the ability to determine the terms and conditions associated with the disposition of troubled assets. Requires profits from the sale of troubled assets to be used to pay down the national debt.
Section 107. Contracting Procedures.
Allows the Secretary to waive provisions of the Federal Acquisition Regulation where compelling circumstances make compliance contrary to the public interest. Such waivers must be reported to Congress within 7 days. If provisions related to minority contracting are waived, the Secretary must develop alternate procedures to ensure the inclusion of minority contractors.
Allows the FDIC to be selected as an asset manager for residential mortgage loans and mortgage-backed securities.
Section 108. Conflicts of Interest.
The Secretary is required to issue regulations or guidelines to manage or prohibit conflicts of interest in the administration of the program.
Section 109. Foreclosure Mitigation Efforts.
For mortgages and mortgage-backed securities acquired through TARP, the Secretary must implement a plan to mitigate foreclosures and to encourage servicers of mortgages to modify loans through Hope for Homeowners and other programs. Allows the Secretary to use loan guarantees and credit enhancement to avoid foreclosures. Requires the Secretary to coordinate with other federal entities that hold troubled assets in order to identify opportunities to modify loans, considering net present value to the taxpayer.
Section 110. Assistance to Homeowners.
Requires federal entities that hold mortgages and mortgage-backed securities, including the Federal Housing Finance Agency, the FDIC, and the Federal Reserve to develop plans to minimize foreclosures. Requires federal entities to work with servicers to encourage loan modifications, considering net present value to the taxpayer.
Section 111. Executive Compensation and Corporate Governance.
Provides that Treasury will promulgate executive compensation rules governing financial institutions that sell it troubled assets. Where Treasury buys assets directly, the institution must observe standards limiting incentives, allowing clawback and prohibiting golden parachutes. When Treasury buys assets at auction, an institution that has sold more than $300 million in assets is subject to additional taxes, including a 20% excise tax on golden parachute payments triggered by events other than retirement, and tax deduction limits for compensation limits above $500,000.
Section 112. Coordination With Foreign Authorities and Central Banks.
Requires the Secretary to coordinate with foreign authorities and central banks to establish programs similar to TARP.
Section 113. Minimization of Long-Term Costs and Maximization of Benefits for Taxpayers.
In order to cover losses and administrative costs, as well as to allow taxpayers to share in equity appreciation, requires that the Treasury receive non-voting warrants from participating financial institutions.
Section 114. Market Transparency.
48-hour Reporting Requirement: The Secretary is required, within 2 business days of exercising authority under this Act, to publicly disclose the details of any transaction.
Section 115. Graduated Authorization to Purchase.
Authorizes the full $700 billion as requested by the Treasury Secretary for implementation of TARP. Allows the Secretary to immediately use up to $250 billion in authority under this Act. Upon a Presidential certification of need, the Secretary may access an additional $100 billion. The final $350 billion may be accessed if the President transmits a written report to Congress requesting such authority. The Secretary may use this additional authority unless within 15 days Congress passes a joint resolution of disapproval which may be considered on an expedited basis.
Section 116. Oversight and Audits.
Requires the Comptroller General of the United States to conduct ongoing oversight of the activities and performance of TARP, and to report every 60 days to Congress. The Comptroller General is required to conduct an annual audit of TARP. In addition, TARP is required to establish and maintain an effective system of internal controls.
Section 117. Study and Report on Margin Authority.
Directs the Comptroller General to conduct a study and report back to Congress on the role in which leverage and sudden deleveraging of financial institutions was a factor behind the current financial crisis.
Section 118. Funding.
Provides for the authorization and appropriation of funds consistent with Section 115.
Section 119. Judicial Review and Related Matters.
Provides standards for judicial review, including injunctive and other relief, to ensure that the actions of the Secretary are not arbitrary, capricious, or not in accordance with law.
Section 120. Termination of Authority.
Provides that the authorities to purchase and guarantee assets terminate on December 31, 2009. The Secretary may extend the authority for an additional year upon certification of need to Congress.
Section 121. Special Inspector General for the Troubled Asset Relief Program.
Establishes the Office of the Special Inspector General for the Troubled Asset Relief Program to conduct, supervise, and coordinate audits and investigations of the actions undertaken by the Secretary under this Act. The Special Inspector General is required to submit a quarterly report to Congress summarizing its activities and the activities of the Secretary under this Act.
Section 122. Increase in the Statutory Limit on the Public Debt.
Raises the debt ceiling from $10 trillion to $11.3 trillion.
Section 123. Credit Reform.
Details the manner in which the legislation will be treated for budgetary purposes under the Federal Credit Reform Act.
Section 124. Hope for Homeowners Amendments.
Strengthens the Hope for Homeowners program to increase eligibility and improve the tools available to prevent foreclosures.
Section 125. Congressional Oversight Panel.
Establishes a Congressional Oversight Panel to review the state of the financial markets, the regulatory system, and the use of authority under TARP. The panel is required to report to Congress every 30 days and to submit a special report on regulatory reform 4
prior to January 20, 2009. The panel will consist of 5 outside experts appointed by the House and Senate Minority and Majority leadership.
Section 126. FDIC Enforcement Enhancement.
Prohibits the misuse of the FDIC logo and name to falsely represent that deposits are insured. Strengthens enforcement by appropriate federal banking agencies, and allows the FDIC to take enforcement action against any person or institution where the banking agency has not acted.
Section 127. Cooperation With the FBI.
Requires any federal financial regulatory agency to cooperate with the FBI and other law enforcement agencies investigating fraud, misrepresentation, and malfeasance with respect to development, advertising, and sale of financial products.
Section 128. Acceleration of Effective Date.
Provides the Federal Reserve with the ability to pay interest on reserves.
Section 129. Disclosures on Exercise of Loan Authority.
Requires the Federal Reserve to provide a detailed report to Congress, in an expedited manner, upon the use of its emergency lending authority under Section 13(3) of the Federal Reserve Act.
Section 130. Technical Corrections.
Makes technical corrections to the Truth in Lending Act.
Section 131. Exchange Stabilization Fund Reimbursement.
Protects the Exchange Stabilization Fund from incurring any losses due to the temporary money market mutual fund guarantee by requiring the program created in this Act to reimburse the Fund. Prohibits any future use of the Fund for any guarantee program for the money market mutual fund industry.
Section 132. Authority to Suspend Mark-to-Market Accounting.
Restates the Securities and Exchange Commission’s authority to suspend the application of Statement Number 157 of the Financial Accounting Standards Board if the SEC determines that it is in the public interest and protects investors.
Section 133. Study on Mark-to-Market Accounting.
Requires the SEC, in consultation with the Federal Reserve and the Treasury, to conduct a study on mark-to-market accounting standards as provided in FAS 157, including its effects on balance sheets, impact on the quality of financial information, and other matters, and to report to Congress within 90 days on its findings.
Section 134. Recoupment.
Requires that in 5 years, the President submit to the Congress a proposal that recoups from the financial industry any projected losses to the taxpayer.
Section 135. Preservation of Authority.
Clarifies that nothing in this Act shall limit the authority of the Secretary or the Federal Reserve under any other provision of law.
Section 136. Temporary Increase in Deposit and Share Insurance Coverage. Raises the FDIC and the National Credit Union Share Insurance Fund deposit insurance limits from $100,000 per account to $250,000 until December 31, 2009. Temporarily raises the borrowing limits at the Treasury for the FDIC and the National Credit Union Share Insurance Fund.
Title II—Budget-Related Provisions
Section 201. Information for Congressional Support Agencies.
Requires that information used by the Treasury Secretary in connection with activities under this Act be made available to CBO and JCT.
Section 202. Reports by the Office of Management and Budget and the Congressional Budget Office.
Requires CBO and OMB to report cost estimates and related information to Congress and the President regarding the authorities that the Secretary of the Treasury has exercised under the Act.
Section 203. Analysis in President’s Budget.
Requires that the President include in his annual budget submission to the Congress certain analyses and estimates relating to costs incurred as a result of the Act; and
Section 204. Emergency Treatment.
Specifies scoring of the Act for purposes of budget enforcement.
Title III—Tax Provisions
Section 301. Gain or Loss From Sale or Exchange of Certain Preferred Stock.
Details certain changes in the tax treatment of losses on the preferred stock of certain GSEs for financial institutions.
Section 302. Special Rules for Tax Treatment of Executive Compensation of Employers Participating in the Troubled Assets Relief Program.
Applies limits on executive compensation and golden parachutes for certain executives of employers who participate in the auction program.
Section 303. Extension of Exclusion of Income From Discharge of Qualified Principal Residence Indebtedness.
Extends current law tax forgiveness on the cancellation of mortgage debt.

Economist: Why Bankruptcy is Better than Wall Street Bailout

Congress has balked at the Bush administration’s proposed $700 billion bailout of Wall Street. Under this plan, the Treasury would have bought the “troubled assets” of financial institutions in an attempt to avoid economic meltdown. This bailout was a terrible idea. Here’s why.

read more | digg story