Things have changed since yesterday. The wind is blowing from the other direction now, and if you give the Republicans one thing -- if you even give them another chance at yesterday's bill -- it'll be the biggest mistake the Democratic Party has made since it signed on to George Bush's endless war. Not only that, you'll have passed over the best opportunity in this whole sorry mess.
Instead, take the bill in hand and mark up big changes.
- Add the ability for bankruptcy judges to review and adjust first mortgages so that ordinary Americans stand a better chance of staying in their homes.
- Put some real teeth in the caps on pay and bonuses so that Americans don't see this money as patching in the holes on executive's golden parachutes.
- Make the continuation of payments on this plan require an affirmative vote of Congress after each review, rather than having them continue by default, so we only pay if the plan proves to be effective and continues to be needed.
- Place realistic limits on the power this bill affords the Treasury Secretary, providing for both review and revision.
Tuesday, September 30, 2008
DEMOCRATS CAN WRITE A BETTER BILL NOW
Daily Kos offers "Seize the Day" by Devilstower. Excerpt:
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2 comments:
The more I think about the "rescue" plan, the more I think it might rescue a few Wall St. firms or banks but will not rescue the economy. The money would be much better spent on aid to manufacturing and infrastructure industries and steps to prevent further foreclosures.
The move to increase the FDIC maximum of $100,000 also will help increase the funds on deposit in banks that banks can use to provide loans.
Thanks Anita.
I think Obama and the Democrats can dreastically revise this bill next year now that all kinds of limits have been placed on its duration.
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