So why is it prohibited to get money for playing ball??

My wife received a $90,000 scholarship from NASA over 3 years and additional grants of $5000 to $10,000 per year from various companies such as Roche chemicals etc. and believe me not all the money was used for tuition and fees.

She did go to harvard but even with that overpriced tuition we used the leftover money for buying a used car and other stuff for the apartment and i'm sure we used some of the money for some nice meals at some restaurants in Boston.

She got the money cause she was considered smart by her scores on tests and her acedemic achievements and what she accomplished in outside activites

NASA just required her to submit a paper on her scientific project study and the others did not request anything from her except that she apply there for a job after collage (which she did not)

So in my opinion the players should be able to get any compensation people, companies or organizations are willing to give..

Look there is NOT a shortage of credit!! There IS a shortage of entities that are credit worthy!!

That is why the money is being held back and not being introduced into the system.

The sovereign wealth funds have money.. they just don't want to lend money (i.e. buy fake bonds that will never pay off) to scam artists. However, they will lend money to people or banks or companies that are credit worthy and can pay back and have collateral that are not artificially inflated.

But first price deflation has to happen and a market value needs to be arrived at for the so called toxic bonds.

This is ONLY going to be fixed by getting the market price on the Bad mortgages. And that price is not going to be ZERO (meaning not everyone will default on his/her mortgage and also destroy the property).. for example the average 100K mortgage may now have a market price of 50K or even 40K but it will not have a price of 1K. There will be some asset value left.

It's as simple as that, let the companies fail and the Warren Buffets and the "foreign funds" will come and mop up the place and they may get some bargains too or they may and pay too much.

Afterwords there will be credit again!

Yes credit will be tight but that is how it should be. We just got used to borrowing without thinking. That is how it used to work in the old days.. Not everyone was entitled to get a loan or even have a credit card. we'll have to adjust a bit like everyone back in those days and stop living beyond our means.

Yes that means no more credit cards will be offered to high school seniors at graduation time and you may need to even bring a down payment to buy a car or a house or even a TV but no one will go hungry or homeless

What do you think the landlords with empty property are gonna do anyway?? Not lower the rent??

and what about the grocers? you think they're gonna throw away the food rather than lower the price to a level people can afford?

The market has to decide the "real" cost of the failed company assets and housing. otherwise the crisis will be extended like it was in the 30's depression. Listen to the Austrian economics people and Ron Pauls of the world for the way to solve this crisis

Yes it will be painful but it will be short and that is the only way the country is gonna get back on it's feet quickly

Peter Schiff is not, repeat NOT a Reaganomics guy.. he is an Austrian economics guy like Ron Paul. In fact I believe he was Paul's economic adviser.

All us Lew Rockwell types have been listening to Peter Schiff for a while now. Check out lewrockwell.com to learn more about austrian economics.

Glen,

There is no entity on earth that has a right to exist. No country, no company, no organization has any right to exist. Including the USA, Israel, UK, etc. that goes double for criminal enterprises like the Mafia, the CIA etc.

here are some examples of some departed firms, countries and organizations.. PanAm, Lehman Bros. The USSR, The Nazi party

on the other hand People (human beings etc.) have a right to exist, cultures have a right to exists. living beings have a right to exist.

but any enterprise that tries to snuff out by lethal means other living beings needs to go the way of the "has beens" and it is time for Israel to join that list. It is nothing but a criminal enterprise supported by our tax dollars and weapon systems.