Apr 15 2009
Creating Leverage to Inflate the Price of Legacy Loans? Madness!
Creating leverage (at a cost to every tax payer alive and to be born in the next several decades) to inflate the price of the toxic assets, excuse me - “legacy loans” is certainly maddening and perhaps madness. I thought the point was to deal with the real issues, not prop up some balance sheets based on ridiculous access to leveraged loans.
Oh wait, that is EXACTLY how we got into this mess int the first place. Isn’t it time for some new concept or thought? Wouldn’t it be nice to fund the Banks with $1 Trillion in DEPOSITS that are mandated to loan into the economy for job creating projects?
Wouldn’t be even better if the entire $1 Trillion came from the public (individual, corporate, and retirement funds sector) without a single dollar - that’s right not $1.00 of direct government funding. There exists a detailed plan and Tax Initiative Proposal that accomplishes all that and much more. If you want to really help solve the current economic crisis and build a sustainable and renewable funding of expanding economy, then get involved and Fax the White House asking them to take a serious look at this Budget Neutral proposal that creates 6 Million jobs in the next 30 months.
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