At last, a voice of reason emerges with a real plan rather than this bailout for the greedy guts guys:
Here's step Number One:
I have proposed a four part plan to accomplish that goal which includes a five-year, 10% surtax on the income of individuals above $500,000 a year, and $1 million a year for couples; a requirement that the price the government pays for any mortgage assets are discounted appropriately so that government can recover the amount it paid for them; and, finally, the government should receive equity in the companies it bails out so that when the stock of these companies rises after the bailout, taxpayers also have the opportunity to share in the resulting windfall. Taken together, these measures would provide the best guarantee that at the end of five years, the government will have gotten back the money it put out.
In addition--step Number Two is to repeal the deregulation that caused this mess; Three, create millions of jobs for the working families; and Four, break up the companies determined to be "too big to fail."
"The copper in eight/foot strips has been/beaten lengthwise//down the center at right/angles and lies ready/to edge the coping//One still chewing/picks up a copper strip/and runs his eye along it." --From "Fine Work with Pitch and Copper" by William Carlos Williams
When the last living thing Has died on account of us, How poetical it would be If Earth could say, In a voice floating up Perhaps From the floor Of the Grand Canyon, "It is done." People did not like it here.