Rep. DeFazio is introducing legislation tomorrow morning, co-sponsored by members of the Progressive Caucus who voted against the bailout, including Rep. Kaptur. It is based on a proposal by the head of the FDIC under Reagan; it would empower the FDIC to strengthen banks by injecting money into banks that are good long-term but have short term problems, getting equity in exchange. Congress implemented such a program in 1982.
The article about it for The Nation by John Nichols is here (notes the SEIU endorsement): http://www.thenation.com/blogs/thebeat/366595 And DeFazio's letter to his colleagues is here: http://www.defazio.house.gov/index.php?option=content&task=view&id=441 -- 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
