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What conditions WOULD we accept in a rescue plan : Swingers Discussion 114296101
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TOPIC: What conditions WOULD we accept in a rescue plan
Created by: My_hypocrisy The original post for this thread was deleted.
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Yesterday, CNBC had one congressman on saying it is a done deal. Two others saying there need to be changes because calls and emails to congress are running 300 against to every 1 for.

Today, the guy that yesterday had said it is a done deal was back on. He was asked if they could pass it with in being so unpopular. He says support is about 50-50. 50% no, 50% hell no. Take 100 calls... MAYBE 1 will be for.

Then he says, if people just understood the plan.... WHAT?

Let's calculate the odds.... 300 people. Only 1 really understands? Or maybe, just maybe a significant portion of there DO understand and are just flat out against it!!!

Maybe, just maybe, we don't want a plan that focuses on saving the most stupid, and passing the costs to the least stupid. Maybe they need to attack this as a main street problem and attack it at its cause... too much debt... Not attack it as a "how do we return to normal" with normal defined as the insanity we've had the last 15 years of exploding debt.

Glendale AZ
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Mr_hyprocacy, Your plan is focused at maintaing the staus quo of ever larger debt loads. You seek to keep the already crushing debt loads, growing. This simply makes the problwm worse.

We need a solution that begins to unwind the debt, not a plan that is focused on finding ways to let the debt keep growing.

Glendale AZ
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1) Disassemble the Wall Street debt machine. Bring back post Depression regulations that were designed to ensure we never again bury ourselves in bad debt. Wall of separation between banks and brokerages. High margian requirements. Highly regulated markets. Maximum interest rates. Shut down securitization without margins. Shut down credit default swaps. Bring back the old bankruptcy laws.

2) Debt nationalization by handing out $2.8 trillion. Based on 1040 reported taxable income: If your household income is less than $10K, you get $10K. If you make $10K-$40K, you get 1x your household income. If you make $40K, you get $40K - 20% of the amount you make over $40K.

Using Census data I've run the numbers.... $2.8 trillion is the price tag.

Here is the deal. If you have less than 2x income in debt, you get a check to compensate you for the coming hyper inflation this will trigger. If you have more than 2x income in debt, the money goes to your debtors to buy down your debt.

If you are a little upside down, you are possibly brought back up to positive equity. If you are a renter, maybe you get money to buy.

IF you have already walked from debt, the money goes to the company/bond that took the loss.

If you were really stupid getting yourself into huge debt, still toast. If gave loans to really risky people, still toast.

3) Mass spending cuts to the U.S. Navy, to homeland security, to ag subsidies... Remove the cap on Social Security contributions and put the money towards paying down the $2.8 trillion. Tort reform to cut medical costs 20%. Raise capital gains tax to match income taxes.

That is what I'm willing to accept as a bailout. A bailout of MAIN STREET, NOT Wall Street.

Glendale AZ
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The bailout is all well and good, and the bankers will probably make things crash if we don't pony over the dough...

But my contribution would be to re institute Glass-Steagell tomorrow. Then get a bipartisan committee together to modernize it. We need to make sure the underlying reasons for this happening do not happen again.

Then I'll go with My's proposals.

Fullerton CA
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My plan would include an entirely transparent process to help mortage lenders and banks with at least 80 percent of the assets invested in USA. To include employees, buildings, investments, funds,ect...

My plan would also include FIRING the top level execs to include board members who have power of descisions made by the company. They would NOT get a severance package.

My plan would include dragging folks such as Bill Gates and Warren Buffet to table to approve all management descisions made by the new management of these companies for the period of time it takes them to PAY BACK the bail out funds...and yes there would be a variable rate interest on the loan...

Blythe GA
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TOPIC: What conditions WOULD we accept in a rescue plan