In my estimation, this is one hundred percent correct. The only way to avert disaster is for a substantial block of progressive lawmakers to say — as soon as possible — that they will note vote for any bailout that does not:
* Preserve substantial financial upside for taxpayers in the event that the bailout works (I think in practice this requires an equity stake in the bailed out firms, but I’m not sure).
* Meaningful steps to restructure mortgages and keep most people in their houses.
* A real second stimulus package.
* Controls on executive pay for bailed out firms.
Monday, September 22, 2008
An Answer For Mr TW and The Rest of Us?
Yglesias:
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment