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Why has nobody in the media offered an alternative to handing over 700 BILLION to Wall Street?

international | anti-capitalism | opinion/analysis

Saturday September 27, 2008 20:05

by wageslave

Report this post to the editors

Are the US government and their pals in media and big business pulling the wool over our eyes again?

The entire media seems to be singing in unison on one of the biggest potential movements of public funds into private hands. And it looks like they might get away with it too. surely there's a better way? Here's one suggestion I came up with in all of 5 minutes to get the ball rolling. I invite your hopefully much better suggestions in the comments

Everyone is saying the US taxpayer should hand over 700 BILLION to the banking sector to ease the financial crisis they colluded in.

Everyone in the media is singing from the same hymn sheet

Why has nobody suggested any alternatives to handing this money over to the wolves?

Alternatives maybe a little like the following one??

Put the 700 billion into a large managed fund. Then whenever the poor unfortunates involved cannot make a payment on their overpriced house, the fund makes it for them. There should be the usual humiliating hoops to jump through that are usually imposed on the poor of course, so most folk will only avail of the fund if they have no other choices.

What this does is
(a) provide a state backed guarantee the mortgages will be paid off
(b) keep these poor unfortunates housed rather than throwing them out on the streets
(c) return confidence worldwide in the financial products sold on the basis of these mortgages
(d) Not give 700 billion directly to the cocksuckers on wall street who caused this

seems like a win win alternative to me!!

comments please!! :-)

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Comments (7 of 7)

#	Title	Author	Date
1	Oops I forgot to include this.....	wageslave	Sat Sep 27, 2008 20:14
2	Decent background analysis to Financial Crisis	T	Sun Sep 28, 2008 14:07
3	one novel way to sort this (instead of giving the thieves booty) is a return to the "New Deal"	debt vendor	Sun Sep 28, 2008 15:44
4	More from hudson	wageslave	Sun Sep 28, 2008 16:11
5	New Deal	Blaine	Sun Sep 28, 2008 23:56
6	check Ralph	lulu	Wed Oct 01, 2008 17:04
7	that is,	lulu	Wed Oct 01, 2008 18:24

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