Thursday, April 09, 2009


I found a couple of articles through Campaign for America's Future on the bank bailout. The first one is about changing the rules on how the banks are run. The second is about taking over those banks that are on the verge of failing, and making them one bank under Federal control where the people who don't live on Wall Street can borrow money.

Changing the Rules of the Blame Game — Time to move the blame to where it really belongs. That means no more coddling banks with bailout billions marked "secret." No more allowing their executives lavish bonuses and new corporate jets as if they've won the mega-lottery and not sent the economy down the tubes. And no more apostles of Wall Street calling the shots.

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Too Big to Fail? Take it Over. — The best way to protect the vast majority of Americans who don’t live the Wall Street high life is to create a federally run bank out of today’s insolvent institutions. It would be cheaper, safer, more democratic, and more transparent. And it should be permanent. We can’t leave what Warren Buffett called “financial weapons of mass destruction” in private hands any more.

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