The US Senate is in session as I post this. The senate bailout vote will do as much for the economy as the Fed's repeated interest rate deductions have achieved over the past 12 months.
Debates on the financial mess will continue even after the senate bailout vote. It cannot end until true main-street concerns have been met. It is a time for new ideas. A great place for them is at http://www.irs.gov/
IRS.GOV is the best way to separate main street from Wall Street. Here are my ideas for selective bailout of the deserving:
1. Suspend foreclosures of modest residences of single-home families. Use the $700 billion to purchase book debts of the poor.
2. Strengthen bankruptcy infrastructure so that Wall Street can apply for and undergo due process quicker.
3. Replace the Fed. Get skilled professionals of integrity. Outsource to the Prime Minister of India if no one in the United States qualifies.
4. Leverage the U.S. strategic oil serve, Iraqi oil reserves, and the Bush equation with the Saudi King to force OPEC below $50 a barrel.
5. Extend the main street bailout to health insurance as well.
Post below if you disagree or if you would like to know more.
No comments:
Post a Comment