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Originally Posted by pan6467
Quick fixes....
find someone interested in buying GM
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No one wants to absorb that debt.
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instead of all that money to banks.... give it to the states to improve the roads, schools, bridges and so on... creat instant jobs the way FDR did by rebuilding the infrastructure that is crumbling before our eyes.
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The recovery plan, particularly the state stabilization funds, are creating jobs to improve roads, schools, bridges, etc...hundreds of thousands to-date.
And, w/o the bank bailouts, credit dries up and more small businesses fail.
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raise tariffs enforce labor laws in US owned corporations overseas.
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Would have a minor impact and cause a trade war to the disadvantage of the US.
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go after, prosecute if possible those bankers that took high salaries and buyouts knowing they destroyed the company and ripped off investors and consumers...
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Sure...but no impact on the economy.
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start re regulating the banks, make the interest rates for savings and checking somewhat valuable and in some proportion to the interest rates we pay on credit cards, for loans etc.
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The House passed a banking/financial services bill, the
Wall Street Reform and Consumer Protection Act last year, with NO republican votes. It addresses:
sub-prime lending - The bill outlaws many of the egregious and predatory industry practices that fueled the subprime lending boom and establishes a simple standard for all home loans: institutions must ensure that borrowers can repay the loans they are sold
derivatives - the bill regulates the over-the-counter derivatives marketplace, requiring all standardized swap transactions to be cleared and traded on an exchange
bail-outs - the bill requires big banks and other financial institutions (with $50 billion in assets) to foot the bill for any bailouts in the future. These institutions would pay assessments based on a company’s potential risk to the whole financial system if they were to fail.
ponzi schemes - the bill strengthens the SEC’s powers so that it can better protect investors from Madoff type frauds
consumer protections - the bill creates a new Consumer Financial Protection Agency to protect consumers and small businesses by ensuring that bank loans, mortgages, credit cards are fair, affordable, understandable, and transparent.
It has been stalled in the Senate by the Republicans.
On the issue of credit card protections, Obama signed the Credit Card Holders Bill of Rights last year.
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You do that and the economy rebounds in less than 6 months.
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Uh...I dont think so and I dont think you would find one economist who agree with you.
And, the best features of your plan are already included in the recovery act or the banking/financial services reform act that Obama and the Democrats have enacted or proposed.
There is a consensus among many economists across the spectrum, while disagreeing on details, that the recovery plan has helped.
New Consensus Sees Stimulus Package as Worthy Step
And your plan certainly doesnt address the long term need to retool the economy.
Here is an example:
The US has fallen behind nearly every industrialized country on developing a national broadband network....and fallen behind on fundamental research in numerous areas including nano-technology, quantum physics, bio-med, alternative energy technology, general health technology, etc....all critical to long-term economic development and are components of what should be part of a long-term economic restructuring plan....and the recovery act includes funding for all of these....probably not enough funding.
IMO, your approach is a band-aid and not a very good one.