Give taxpayers a piece of the bailout action
Today's column:
Now that American taxpayers are about to set up the biggest-ever vulture investment fund, let's make sure they get the same kind of action as Wall Street's traditional carrion fowl.Vulture investors swoop in where other investors fear to go, providing cash to panicked sellers and keeping shaky markets from falling even further. But they have a price: a large share of the upside when things get back to normal.
Washington should demand nothing less from the banking institutions it is about to rescue. That means substantial government ownership of pieces of any company that gets bailed out.
Read the whole thing here.
Comments
how about instead of giving 700billion to the people who got us into this mess, we give everyone over the age of 18 who works and pays taxes $400,000 and let that money go to good use....(that would be the close to the equivalent of $700billion).....paying of credit cards, mortgages, cars loans, student loans, so on and so forth...wouldnt that stimulate the economy...???in my eyes more directly than any other solution...just find away to regulate the spending of that $400,000 and we would be in good shape.....by why take care of the AMERICAN people right just line all the big dogs pockets.......baffled in long island
Posted by: jose alves | September 30, 2008 8:44 AM