Instant Feedback on Bush Speech

Everything listed by the President may happen even with a massive bailout. Given the amount at risk, I suggest the following alternative plan:

  1. Wait until after the elections to do anything other than take the time to analyze the models and consequences of economic programs
  2. Ignore the bad loans: let the institutions that took the risk take the consequences
  3. Take the $700B and invest it in new loans to small- to medium-sized businesses, and to ensure the continued operation of student loans
  4. Have the SEC, FBI and any other federal agency investigate every decision-maker in companies responsible for getting us into this debacle. Engage in a ‘De-Baathification’ process, keeping the guilty from ever working in the financial industry again.

One last comment.The President called our capitalism the best economic ever devised. For once, I agree with him. But that means that the profits of capitalistic endeavours must be matched by taking responsibilities for losses incurred when engaging in free market activities.

1 comment for “Instant Feedback on Bush Speech

  1. Anonymous
    September 24, 2008 at 8:40 pm

    The last sentence of Bush’s speech, the rhetoric about ‘Americans working hard will succeed’ or some such BS… Ask any working person who makes 40K per year if they are progressing in life or seeing the fruits of their labor. Answer is NO. They just get by, month to month. My mother used to say ‘like squeezing blood out of a turnip’… Washington is squeezing blood out of us all right. I’m furious.

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