I think we could also do a better job of explaining that it’s not $700 billion just being given away. We may make money on he deal. Or, at the very least, the financial industry can be made to reinburse the taxpayers via legislation that “recoups from the financial industry an amount equal to the shortfall in order to ensure that the Troubled Asset Relief Program does not add to the deficit or national debt.”
It is not perfect, but the amount of demagoguery against the plan is not justified given the alternative, in my opinion.
Quite right.
You’re right, there does need to be a better explanation of what exactly Wall Street needs. But I’ve got another good idea, Wall Street and the Fed should show a little gratitude for the money. All I’ve heard so far are veiled threats at our way of life if we don’t comply with what they want.
Instead they should be thanking all of us tax payers who pay on time, and all of us who aren’t pulling their money out of the banks. Remember what your mother said, you catch more flies with honey than you do with vinegar.
