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How about a trickle-up bailout instead?
In a liquidity crisis, the Bush admin. would naturally come up with a trickle-down solution: They want to take money out of all our pockets, ship it to the top, and let it trickle down to future taxpayers who are footing the bill.
If we are to spend $700 Billion to provide liquidity to the system, lets use a trickle up solution. The Gov. should issue $2,500 real estate certificates to every citizen of families making $150,000 a year or less. They could be sold or traded, but only redeemable by the government to banks for real estate purchases.
Can someone tell me why this wouldn't accomplish the same thing as Paulson's plan, while allowing us to touch the money before the banks got a hold of it?
It would be a lot simpler to administer. It makes me choke watching them bend over backward to b"be fair" to all the banks. Boy, we wouldn't want to discriminate there, would we? What about us?
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