A possible "Last Resort Option” for ending the credit crisis and reinvigorating the economy should our politicians fail to act or their actions fail to work. In the event that the worst does happen, the financial systems crash, we have mass unemployment and bankruptcies, I propose we forgive all debt for individuals, corporations, and perhaps even the government. I invite all to participate through posting comments and casting your opinion poll votes. Be sure not to miss the last poll.
Sunday, October 5, 2008
The Bailout Bill: Lies, Lies, Lies! No oversight in sight!
Click on the title for this posting & See page 6, Line 13, for the definition of "Troubled Assets". The Secretary of the Treasury can spend the money on any asset he deems necessary as long as the FED Chairman agrees and they notify, not ask permission from, Congress. How can the program ever be held accountable if the Secretary of the Treasury just has to say "it was necessary"? Will the FED Chairman stick his neck out and get in the way of administering this money? No! So, what did you guys do this weekend? Read the bailout bill, pardon me, law?
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