Better Ways to Sell the Bailout

It's not the name that we dislike, it's the action.

You can call it an ice cream cone for all we care. It's still no solution. We do not dislike it because of it's name. How stupid do you think we are? Politicians and the media need to stop insulting our intelligence and start understanding the real issues we have with the plan.

A *REAL* plan would:

*Make the people who are responsible for the problem pay for fixing it. DO NOT make people who have been fiscally responsible pay for the mistakes of those who haven't been. THIS IS THE PREMISE THAT WE REJECT. THIS IS ABSOLUTELY NOT ACCEPTABLE. WE WILL NEVER, EVER SUPPORT THIS.

*Put restrictions in place to prevent the bad practices from continuing. This includes transparency, responsibility, accountability, and moderation. Treat the cause, not just the symptoms.

*And finally, DO NOT make people who have been fiscally responsible pay for the mistakes of those who haven't been. Make the people who are responsible for the problem pay for fixing it. This means having THEM and ONLY THEM take the hit from the toxic loans that THEY lent. This means making them buy back the securities derived from these loans at the price that they sold them at. If managers have to sue their employees to get the money they need for this - so be it. The burden must be placed on those responsible. If it makes them go bankrupt - so be it. That's the natural consequences of their decisions. Other companies shouldn't go bankrupt for decisions that they did not make - nor should taxpayers.

Oh and did I mention: Make the people who are responsible for the problem pay for fixing it.

Now you can call *this* economic plan "satan incarnate" for all I care. It's what we REALLY need.

And in the interim, be sure that you DO NOT make people who have been fiscally responsible pay for the mistakes of those who haven't been.

Kevin of WI @ Oct 01, 2008 14:00:51 PM

No Bailout

The country is drowning in debt. That's why people can't pay their bills. The bailout is going to loosen credit and put everyone deeper in debt. With loose credit, we borrow more so we can pay those we owe money to. What's wrong with this picture?

The problem with the bailout is that it is only prolonging the enevitable. At some point, the financial community and the stock market will have to make a natural correction. The longer we prolong it, the worse it will be.

David of MS @ Oct 01, 2008 13:29:39 PM

NO BAILOUT

Main stream media is suggesting that the bailout is gaining support in general public. It can't be any father from truth. The truth is that many Amricans fed up with bailouts. This bailout is not going to help main st. It is bailout for the foreign banks and Wall St.

dumping bad loans, credit cards, car, home equity loans, subprime loans, alt-A loans, derivitives, etc. basically garbage, on to the American tax payer. Wake up America and fight.

user39_2000 of CA @ Oct 01, 2008 12:49:19 PM

The Fed can provide Liquidity

Why doesn't the Fed loosen the money supply? Debt is debt. We have other alternative solutions beside a bail out. If the problem is liquidity, there are ways to increase liquidity.

Why don't we hear of the efforts to solve this problem over the past several years? Why don't we replay Barney Frank, Maxine Waters, etc and their speeches denying the problem? Why don't we discuss the role in Obama's campaign played by Fannie Mae CEOs Raines and Jones?

Why don't we hear of the earmarks attached to the Senate bail out bill? Wool research??

I feel sorry for the banks, actually. They were forced to write these fraudulent loans. Now, stock holders' 401k are taking the hit. It is caused by Congress

JoeS of CA @ Oct 01, 2008 12:00:50 PM

Get It Over With!!!

Whatever is done or not done who cares??? This daily domm and gloom scenario must end soon, the trials should begin immediately and a blackout on the White House should be imposed.

Ray Fisher of NM @ Oct 01, 2008 11:15:02 AM