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Paulson’s middle class heist was stopped this time. Now we must rally around alternate proposals, ones that move quickly to fix our broken system while taking into consideration long term needs. The articles posted below offer ideas and principles that must be at the heart of any recovery program that the government puts forward to the American people.
A Sensible Plan for Recovery
The Institue for Policy Studies has released a plan based around the following elements: • A stimulus for Main Street: Aid to the real economy • Make Wall Street speculators pay for the bailout: No more debt • Shut down the casino: Rein in the unregulated financial sector • Limits on CEO pay and prohibitions on profiteering from the bailout
Continue reading...10 Ways to Bail Out Wall Street (and Main Street) Without Soaking Taxpayers in Debt
2. October 2008
By Chuck Collins and Dedrick Muhammad, AlterNet. Posted September 25, 2008. Who says we need to borrow a trillion dollars to save Wall Street from its own excesses?
Continue reading...Why Bail? The Banks Have a Gun Pointed at Their Head
30. September 2008
I've heard lots of phony stories. Much of the country's political and economic leadership has been running around raising the prospect of the Great Depression and a breakdown in the banking system (I actually had taken the latter seriously). These stories are absolutely not true.
Continue reading...America Needs A New New Deal (WSJ Opinion)
30. September 2008
President Franklin Delano Roosevelt outlined the problem clearly in his first fireside chat, a week after taking office. "We had a bad banking situation," Roosevelt said. "Some of our bankers had shown themselves either incompetent or dishonest in the handling of people's funds. They had used the money entrusted to them in speculations and unwise loans . . . It was the government's job to straighten out this situation and do it as quickly as possible."
Continue reading...Trickle-Up: What a Progressive Bailout Would Look Like
30. September 2008
[AlterNet] Keep families in their homes and loosen credit markets without rewarding Wall Street's wheeler-dealers for their recklessness.
Continue reading...From James K. Gailbraith
29. September 2008
The point of the bailout is to buy assets that are illiquid but not worthless. But regular banks hold assets like that all the time. They're called "loans."
Continue reading...From David Sirota
29. September 2008
Though the deal negotiated between congressional leaders and the White House is better than what Treasury Secretary Henry Paulson originally proposed early last week, it remains an insulting atrocity, having omitted even basic aid to homeowners, bankruptcy reforms and any modicum of future financial industry regulation.
Continue reading...From United for a Fair Economy
28. September 2008
Demand protection for ordinary taxpayers, mortgage assistance and caps on corporate pay and windfall profit.
Continue reading...Bernie Sanders’s counter-proposal
28. September 2008
The people who can best afford to pay and the people who have benefited most from Bush's economic policies are the people who should provide the funds for the bailout
Continue reading...Dean Baker, of Economic Policy Institute
28. September 2008
"The Fed and Treasury are right to take steps to avert this disaster. While there is an urgency to put a bailout program in place, there are several important issues that Congress should address in the context of bailout."
Continue reading...The free markets are completely discredited. There is significant political space to build a broad consensus for a 21st-Century New Deal that would stop spending our tax dollars on war and Wall Street, and instead help struggling homeowners and build affordable housing; fund job creating projects for clean energy and rebuilding our infrastructure; and fund a universal health-care system that would help American families, while cutting the nation's long-term healthcare costs.
It's time to for a taxpayers revolt against this mind-boggling Wall St. bailout. It's time to build a broad coalition to demand a 21st Century New Deal. This is our best, last hope.
A Sensible Plan for Recovery
The Institue for Policy Studies has released a plan based around the following elements:
[more]
• A stimulus for Main Street: Aid to the real economy
• Make Wall Street speculators pay for the bailout: No more debt
• Shut down the casino: Rein in the unregulated financial sector
• Limits on CEO pay and prohibitions on profiteering from the bailout10 Ways to Bail Out Wall Street (and Main Street) Without Soaking Taxpayers in Debt
By Chuck Collins and Dedrick Muhammad, AlterNet. Posted September 25, 2008.
[more]
Who says we need to borrow a trillion dollars to save Wall Street from its own excesses?Why Bail? The Banks Have a Gun Pointed at Their Head
I’ve heard lots of phony stories. Much of the country’s political and economic leadership has been running around raising the prospect of the Great Depression and a breakdown in the banking system (I actually had taken the latter seriously). These stories are absolutely not true.
[more]America Needs A New New Deal (WSJ Opinion)
President Franklin Delano Roosevelt outlined the problem clearly in his first fireside chat, a week after taking office. “We had a bad banking situation,” Roosevelt said. “Some of our bankers had shown themselves either incompetent or dishonest in the handling of people’s funds. They had used the money entrusted to them in speculations and unwise loans . . . It was the government’s job to straighten out this situation and do it as quickly as possible.”
[more]Trickle-Up: What a Progressive Bailout Would Look Like
[AlterNet] Keep families in their homes and loosen credit markets without rewarding Wall Street’s wheeler-dealers for their recklessness.
[more]From James K. Gailbraith
The point of the bailout is to buy assets that are illiquid but not worthless. But regular banks hold assets like that all the time. They’re called “loans.”
[more]
2. October 2008
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