Nation Topics - Banking Predatory Lending
News and Features
Congress must take control of the failed financial system until a new president can legislate a more permanent and equitable solution.
Take a lesson from Andrew Jackson: Rely on regional banks, not Wall Street, to get money in the hands of people who need it.
Remember the National Lampoon cover showing a puppy with a gun to its head? That's the Paulson plan.
Henry Paulson isn't proposing the nationalization of private corporations--he wants a corporate takeover of government.
Bernanke is asking for trust he has not earned. Here's a shortlist of conditions to make this a credible deal.
Instead of handing Bernanke $700 billion with no strings attached, government should take over the banking and finance sector, clean it up and start funneling money into the real economy.
The bailout jeopardizes the entire progressive agenda, undermines democracy, doesn't compensate us for our money and doesn't solve the problem. Otherwise, it's great!
The Paulson/Bernanke bailout plan is not the way to go, unless you work on Wall Street. Even if you do, there are compelling reasons to fear it. Here's what Congress should do instead.
Even without knowing the specifics of Paulson's staggering rescue plan, you can kiss the environment, preschool education and health insurance for all goodbye.
Paulson's rescue plan represents a historic swindle--all sugar for the villains, lasting pain for the rest of us. Don't let Wall Street get away with this without enacting significant reform.