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Blog Archive

Monday, October 6

The 7,000 Billion Bailout Plan

It seems the 700 billion dollar bailout plan has not made much of a dent in bailing out the financial sector, or getting the stock market to go up. How about a 7,000 billion bailout plan, or a 70,000 billion bailout plan. The sky is the limit if you want to bailout the derivative markets, the one's where AIG insurance lost all of its 80 billion, or whatever.

Or how about listening to LaRouche, and first going with the Homeowner and Bank Protection Act. Freeze the mortgages and mortgage-backed securities. Keep the banks capitalized by having reasonable rental payments on houses with unpayable mortgages. Then let's issue new credit at low interest rates for large infrastructure projects- that is maglev trains, roads, bridges, lots of rail, this highway society is just one big traffic game. Have a New Bretton Woods Conference about having stable parities between the major currencies. Maastricht in Europe is dead, France's President Sarkozy is looking for a way out, and so are sane Americans.

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