Newest Draft of Bank Bailout Bill (capitalism, free-market, debt, financial)

[BankREO]

You already know where I stand in opposition to this corporate welfare but here is the latest version with additional oversight and limits. What are your thoughts?

[bale002]

The only thing credible about this draft is your opening comments ...

The recession will still happen because we have not addressed the real underlying issues such as middle-class job creation, international trade imbalance not in favor of America, federal budget deficits, and a debt-based monetary system.

Instead of the expression "middle-class" job creation, I prefer "restore the productivity of the average US worker", because even "job creation" does not work if the average US worker is not adding value to an internationally competitive economy.

The essence of this bailout is the insistence on subsidizing the reckless consumption of housing deadbeats and the financial structure (i.e. bankers and their crony politicians) that supports it.

Finally, we are all capable of writing beautiful plans on paper, for anything from free-market capitalism to utopian communism, but any plan will go awry if the people responsible for implementing it are corrupt.

[BankREO]

Originally Posted by bale002

The only thing credible about this draft is your opening comments ...



Instead of the expression "middle-class" job creation, I prefer "restore the productivity of the average US worker", because even "job creation" does not work if the average US worker is not adding value to an internationally competitive economy.

The essence of this bailout is the insistence on subsidizing the reckless consumption of housing deadbeats and the financial structure (i.e. bankers and their crony politicians) that supports it.

Finally, we are all capable of writing beautiful plans on paper, for anything from free-market capitalism to utopian communism, but any plan will go awry if the people responsible for implementing it are corrupt.

Yes, you are right. It is about us adding value to the international system. We can not assume we are the consumers of the bunch. Corporate Welfare is my term of the moment. We are also setting a floor in the prices on some really overvalued assets. That is have its consequences down the road. That is true, execution is the key to any plan.