A simple bailout plan for Wall Street and Main Street

HMMMM, im not sure I totally understand everything said, but I get most of it. How about adding getting rid of corporate tax and lowering taxes. Does that not increase revenue and sales as well.

In the last few days I have read & watched how everyone (Citizens) is wanting to blame Wall Street for this big economic mess that our country is in... why not blame the consumer that filed for & got a flexable interest rate on their new home loan (they bragged about how extremely low their interest rate was ) which allowed them to afford a much better, bigger & more expensive home & they enjoyed that low rate of interest but with everything going up in price in todays economy its was a natural thing that this flexable interest rate started to climb & in some cases their house notes doubled & so when they couldn't/wouldn't pay the note, they just simple walked a way from their obligation, leaving the Banks & Mortage Co. holding the bag on their obligations...whats wrong with blaming the consumer for buying into a large mortage that he should have known he couldn't afford but lots of these consumers only saw that they could keep up with the Jones's that live next door or down the street ( it like the old saying "everyone can drive a cadillac for a month or two") but once the newness wear off they find it hard to pay for, lets not forget, Loan Officers are not Policemen but consumers should be the policemen over their own household budget, its just simple mathematics but these consumers are like children & don't know the difference between wants & needs, we as consumers want lots of things but most of us buy only what we truely need........

Ah, the discredited old "..getting rid of corporate tax and lowering taxes" technique. Because of loopholes, USA corporations pay less taxes than countries where taxes are lower on paper. This would only weaken the government so it can't respond to catastrophes without borrowing from the Saudis, China, etc. And hey, don't forget we have nation building and world's-cop duties to consider!

Although my knowledge is limited, my understanding is that the practice of nationalizing banks is fairly common in Europe. I have concerns about trying it in the US.

While our government is a great example of many good things, efficiency is not one of them. Someone recently said that the American public got us in trouble by acting as financially irresponsibe as the government. The government is good at spending, good at going into debt, good at making expensive decisions without knowing how to pay for them, and in general totally mismanaging our finances.

That alone being said, what makes anyone think that the government would be any better at running a bank? I guess we could throw caution to the winds and let them try, but I wouldn't be surprised if it just became another loss leader. Would you put the current regulators in charge after they failed so miserably at doing their jobs of just WATCHING the banking industry? They are probably the most knowledgeable folks we have up there, and I wouldn't let them do it.

Second, I don't see how you tip-toe into nationalizing the industry. We take over the mismanaged banks with bad debt issues one at a time and compete with the free market banks? It seems like terrible conflicts of interests. Do the nationalized banks get listed on the stock market? I wouldn't be very happy if I were one of the few banks in the U.S. that was in decent shape and was weathering the storm without help and competing with the supposedly healthy nationalized banks.

Finally, we seem to be in a mode of "right or wrong we have to do something right now!" This is a perfect expression for a second or third shift manager, because the decision can be reviewed the following day by a staff that can see the decision's affect on the bigger picture. We've got the board of directors making major decisions about issues they don't even understand.
That's our Congress today. ANY plan that is implemented will be poorly thought out and written by a Congress that didn't know diddly squat about the subtleties of the financial world last month. I'm sure they are more informed today, but it is the pressure of immediate action that almost assures a bad bill and a bad decision.

There must be something we can do to coerce the banks to loosen their credit and solve the immediate problem and give us time to make more rational decisions. Maybe the threat of nationalizing banks is what might scare them the most. It scares me.

Every

All of us have heard by now about the Wall Street bailout. I for one am against that plan. It does not address the real problem we have in Washington and on Wall Street. To paraphrase Franklin Roosevelt, "our moral compass is broken." There is a complete disregard for the welfare of the general public. I believe that what is best for the general public is best for business and the economy in general, not necessarily the reverse.

Proir to a rush to judgment, as we have too often done in the past, I believe that to properly address the situation, we should examine alternatives that make true economic sense. Put the money in the hands of the public domain, and the economy will be boosted in the areas of most importance, because the public will properly dispense the monies, where Wall Street and Washington have failed to do so. We will buy cars to assist an ailing auto industry, pay off outrageous mortgages that are clogging the flow of money in the banking industry, and invest in the market bringing necessary liquidity to those companies that need an injection of cash. We should only ask Congress to create legislative incentives that will reward the conservation of energy and other resources. There should be tax incentives for the purchase of fuel efficient cars, investments in American companies, and the start up of new businesses that create jobs for Americans.

It is really a simple proposition, one that has been discussed by many already. In fact, the current administration used the economic stimulus package of rebates in the amount of around $600 to some individuals to bolster the sagging economy for several months. And the impact of that paltry amount was not insignificant. The money that has been proposed to be earmarked for this bail-out should in some measure be distributed to the general public, in the form of an economic incentive payment. Each taxpayer in America, and those who would be taxpayers if there were enough jobs (those unemployed adults already adversely affected by the ailing economy) could be the recipient of an economic incentive payment in the approximate amount of $3,300,000! This would represent the equal distribution of the proposed $750,000,000,000 economic bail-out to all of those adults. Taxes would be paid based on the application of the legislative incentives designed to spur the American economy. With the appropriate legislative incentives, and the free-market system of supply and demand, the market will recover within weeks!

Now I am not such a dreamer to expect Congress to ever be bold enough to do this, but an even greatly scaled down version would do wonders to boost our economy. We should insist on this as taxpayers, and citizens of the greatest country in the world. We must remember that the country achieved greatness on the sweat and sacrifice of the American public, the workers, soldiers, and small business entrepreneurs who risked life savings in some cases in the pursuit of the American dream.

This must be a priority for Congress, not a wholesale bail-out of a system wrought with avarice and greed.

An economic bailout strategy that will help Main Street, but not reward Wall Street is needed. The national approach must include a healthy dose of common sense. The voices of the citizens are rising up in a roar, but it seems that those in the ivory tower known as Capitol Hill are deaf to a chorus from grass-roots America. A bailout should not be complicated. Simplicity is essential. The following link is an elegant solution to our National dilemma.

http://www.sentinel-consulting.com/Crisis/Simplified_Bailout_Strategy.pdf