You know, a commenter at HuffPo made a tongue-in-cheek suggestion, but it actually has some merit. He suggested that rather than giving the banks 700 billion dollars, the government (or more accurately, the taxpayers) give each taxpayer in the U.S. one million dollars each. Additional commenters suggested details like: (1) each taxpayer would be required to use the money to pay off their mortgages and credit debt, and (2) would only be allowed to save or invest $50,000 of the million. The rest would have to be spent on tangible goods to boost the retail sector. That would in turn give Congress enough time to come up a value to place on all the worthless debt that the banks want us to assume, formulate a reasonable bail-out, and would have the added benefit of reducing the necessary bail-out.
Whether or not that would work, I'm not certain, but it certainly sounds more reasonable than blindly handing over 700 billion dollars just because George Bush's administration says it must be done.
(sorry - edited because trillion and billion are not the same thing. ~sighs~)
Whether or not that would work, I'm not certain, but it certainly sounds more reasonable than blindly handing over 700 billion dollars just because George Bush's administration says it must be done.
(sorry - edited because trillion and billion are not the same thing. ~sighs~)
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