ZadPolBlog

Saturday, September 27, 2008

Part of the solution

Here's my contribution for solving the current financial crisis

Henry Paulson personally had over $600M worth of Goldman Sachs stock options when Bush appointed him as Secretary of the Treasury. Part of his defense of Bush's Big Bailout plan is that the US government, and therefore the US taxpayers, could turn a huge profit in the long run by bailing out Wall Street with $700B, as long as it's done now, before Bush (and Paulson) leave office.

OK Henry, you and your fellow banking CEOs and executives made massive personal fortunes because Sachs and others got to play loosey-goosey with the rules. So here's the deal that should be added to any bailout plan that comes out of the White House and Congress:

You and all of your fellow execs that made more than $10M under the Bush economic plan will have all of your personal assets, minus $10M, seized by the government. The government will place that money into US Treasury bonds. If your plan works, you get back your money plus all the interest from the bonds and a heartfelt thanks for serving your country. But if your plan, which you say is a great deal for average Americans, fails, then all that money is kept by the government to help pay for the bailout.

Oh, by the way, add Bush, Cheney and Phil Gramm to that list.

0 Comments:

Post a Comment

<< Home