Ok, I'm on board the bailout if and only if....

1. Paulson is sacked and replaced with an emergency Treasury Secretary approved by 50% + 1 in both houses
2. I see on paper with lines and little pointy arrows why and where the money will be going (with expectations)
3. We create a new top marginal tax rate of 65% on income over $2,000,000 dollars
4. The investment is structured so that we may share in any upside of the bailout
5. Once financial system is stabilized, these recently created super banks are broken back up by anti-trust
6. Investigations will be made and those responsible must be held accountable
7. I have 5 wall street executives lined up before me so that I may kick each in the nuts

On Edit: I must of been reading Bernie Sanders plan:

http://sanders.senate.gov/petitions/?petition=Financial_Crisis_1

Especially the kick em in the nuts part.

allow the over $2,000,000 crowd to avoid taxes it would go a long way. #3 will never happen. And I could pass on #7 although when I first read it I was sure it was going to end in "firing squad."

:rofl:

ETA; :kick: & R

is actually in the plan. ;)

but, I just hate the idea of handing it over to Paulson (even with oversight). I really, really want to see the ultra-rich take a stake in this too. I forgot who floated the idea of a surtax to help pay back the loan but I would be on board with that as well.

And most importantly I want to see some sort of plan and some guarantees that at least some of it would work. It's kind of like me going to a bank, asking for a $2 million dollar small business loan and just telling them, "I'm going to try stuff until something works".

But 1-6 is a good plan. Especially #3. Remember that tax cuts for the rich were supposed to stop any of this mess from happening?

I knew I liked what I thought where my ideas. :) I took a look at his outline and I like it:

http://sanders.senate.gov/petitions/?petition=Financial_Crisis_1

One thing I'd want added though... Is that I want to see the damn business plan. I want graphs, charts, arrows, and a powerpoint as to exactly what is going to be done with the money. It's my money, I want to at least pretend that I understand what they're doing with it! Oh, and dump Paulson.

Charge them, fine them, freeze their assets, give them a trial and then perhaps if they're found guilty, let you kick 'em in the nuts--once for every dollar they lost.

and for the jury to be briefed that white collar crime is in fact a real crime.

There is a vast overhaul needed in our system, and that will take time. We need SOMETHING to slow down the flood or we'll never get a chance to do it.

they will NEVER, NEVER, NEVER do anything differently.

To me, this is the U.S. economic equivalent to Ghandi's salt march.

don't buy into the fear bullshit. You are an educated person in a necessary profession who is needed to keep this nation going. You are young and the trend for the market, over a decade, is up. You have plenty of time to accumulate a nice pension AND support those who are in a real crisis NOW.

If the situation is truly dire, those who refuse to accept any concession to the American taxpayer are the ones to upbraid, not those here who oppose the looting plan from Bush. The anger you see here from those who suffered through the labor contractions of the last decade is the anger of your fellow democrat. They are the ones you should be supporting, not some Wall Street fearmonger.

smooches.

that is, load their empty parachute packs with gold bars and toss 'em out the door at 12,000 feet! :evilgrin:

:thumbsup:

:D

:evilgrin:

tar and feathers in there somewhere?

What Would FDR Do?

I think the answer may be in our roots. It's time for a new New Deal.