A variation on this theme: How about a financial holiday until the bailout package is worked out.
Many very good proposals are now being made for conditions to be attached to the bailout, including limits on executive compensation at firms participating in the bailout, protections against foreclosure, requirement that any mortgage backed securities sold to the government under the bailout include management rights on the underlying properties (in order to protect people against foreclosure and eviction), a small tax on financial transactions like they have in the UK, etc. We will be told that there is no time to consider, debate, and enact these good ideas. Hence, the holiday. Now we have time. On Sun, Sep 21, 2008 at 10:25 PM, michael perelman <[EMAIL PROTECTED]> wrote: > How about instead of giving a couple trillion dollars to the financial > institutions, instituting a financial holiday -- something like FDR created > -- and use the trillions of dollars to create infrastructure and affordable > housing? > We could also raise some more money by ending the wars and cutting back > military spending. > > > > Some of the money would be left over to create national health care, > alternative energy, and tuition support. > > If we needed more money beyond that, we could raise taxes. With all the > spying on ordinary people, the NSA must certainly know where the fat cats > are hiding their money in tax shelters. > > Sure, there would be problems. People would need access to their money to > get groceries and the like before the jobs were online. But the plan > suggested here seems no more outrageous than rewarding the felons for their > crimes. > > Something patched together by the Treasury this quickly is sure to do more > damage than any outrageous suggestions made above. > > > > -- > > Michael Perelman > Economics Department > California State University > michael at ecst.csuchico.edu > Chico, CA 95929 > 530-898-5321 > fax 530-898-5901 > www.michaelperelman.wordpress.com > > > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > -- Robert Naiman Just Foreign Policy www.justforeignpolicy.org [EMAIL PROTECTED] Ambassador Pickering on Iran Talks and Multinational Enrichment http://youtube.com/watch?v=kGZFrFxVg8A _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
