Friday, September 26, 2008

The bailout

My prescription for the bailout:

  • Limit it to $250bn-$350bn for right now
  • Congress can issue a cease and desist at any time
  • Eliminate any executive pay limitations (or at least don't make them a deal-breaker)
  • Require the Treasury to pay market or near-market prices (by, say, requiring $2-3 billion of the instruments be put on the market before the Treasury spends serious money; use that price for the Treasury purchases)
  • Don't dilute the bill with help for homeowners or capital gains tax cuts (the repubs are ridiculuously pushing for capital gains tax cuts as their "contribution")

No comments: