| Democrats want pay limits, loan aid in bailout Our Federal legislators must refrain from buying into the Bushian "trust me" logic. We must not give them any more money with no strings attached. Goldman Sachs, Morgan Stanley change status to holding companies
If the massive investment banks still have enough money to buy out other commercial banks, they don't need taxpayer funds to prop them up. Seems like they just want a handout. Instead, we should look at our history for successful models. Remember that (Republican) Hoover failed, and (Democratic) Roosevelt succeeded. Bailouts are common, but risk doesn't always pay off Resurrect the Home Owners' Loan Corp. Fund only occupied primary residential real estate. That was a successful program, and actually made taxpayers a modest profit. Big Financiers Start Lobbying for Wider Aid We must not bail out commercial (speculative) ventures or pseudo-assets based upon speculative financial instruments. We must not privatize handling this matter to external firms for their exorbitant management fees. That's how we arrived at this debacle. |
