Knoxscape deep thoughts
Wednesday, September 24, 2008
I oppose the WALL STREET BAILOUT
I understand that the situation is difficult, but allowing Wall Street firms to sell that toxic waste bonds and derivatives to the Fed or the US Treasury is just obscene.
Just about any other solution is better. 700 Billion is a enormous number. Give that to the taxpayers, and let them catch up on their mortgages or debt or whatever. Let’s try a gigantic stimulus package BEFORE the taxpayers buy a bunch of garbage.
Or really do the Resolution Trust Solution. Seize insolvent firms and then manage the orderly unwinding of these toxic derivatives.
DO NOT GIVE IT TO WALL STREET FIRMS THAT CREATED THIS GIGANTIC MESS!
Please stand firm against this Big Government solution.