Five Alternative Bailout Plans
Brief points on 5 different plans proposed to deal with the financial market, to be compared with the $700 billion pig being pushed on the taxpayers by Paulson, Cox, Bush and Bernanke that some Dems and Reps in Congress have been trying to put lipstick on.
The Bush administration is pushing its bailout plan by claiming the only way to save the economy is by having the federal government buy $700 billion worth of bad paper from big financial firms that screwed up. Conservatives should hate this because it is a massive federal intervention in the market. Liberals should hate this because it’s a handout to the richest people and companies in America. But the Bush administration and Wall Street are insisting it's the end of the world and this is the only choice. Well, is it this or nothing? Many on Capitol Hill—especially Democrats—are buying the general premise of the White House plan but insisting on lipstick-on-a-pig modifications involving CEO compensation, taxpayer protection, and oversight and transparency. But are there other approaches to the problem besides putting the Treasury in charge of a $700 billion fire sale? Yup. Here's a quick roundup.
The article asks readers to post other alternative ideas in the comments.
George Washington proposes:
If You're Looting the Treasury, Give it To US