Bailout

Health Care Victim Of Wall Street Madness?

By Mike Lillis
From washingtonindependent.com
October 14th, 2008

washingtonindependent.com — The financial storm arrives at an inopportune time in the health-care debate. With the economy in turmoil and a budget deficit likely to top $500 billion next year, many health-policy experts question how far either Sen. Barack Obama or Sen. John McCain could push their health-care plans.

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Isaiah J. Poole's picture

Cox And The Right Set Up Wall Street's Fall

By Isaiah J. Poole
October 3, 2008

In 2005, our co-director Robert Borosage warned readers about the travesty of appointing Christopher Cox to the Securities and Exchange Commission. read more »

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If There Must Be A Bailout, Here's How To Do It

By Jonathan Weil
From bloomberg.com
October 1st, 2008

bloomberg.com — Treasury Secretary Hank Paulson's $700 billion bailout plan was one part robbery (with the banks doing the robbing) and one part accounting sleight of hand. No wonder House members rejected it. If the government wants to save dying banks before they take others down with them, it should choose the clean and direct path: Inject capital into them. Take ownership stakes in return. And, where that's not feasible, seize them and sell their assets in an orderly way.

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After the Revolt

By Robert Borosage
September 29, 2008

The markets were already indicating the plan from Treasury Secretary Henry Paulson was inadequate. Rather than making further compromises with the conservatives who simply don’t get it, Democrats should put forth a plan that is far bolder and that deals with the real problems.

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Question of the Day

By David Sirota
September 29, 2008

Anyone who thinks we should pass the $700 billion bailout bill as is needs to answer a simple question: How does handing over $700 billion to Wall Street help the economy any more than, say, handing over $700 billion to homeowners, or spending $700 billion on a New Deal-style full employment program? read more »

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Bailout Defeated: Now Can We Get It Right?

By Isaiah J. Poole
September 29, 2008

The House has just voted down the $700 billion bailout bill. We have not yet seen the roll call, but the numbers suggest that a significant bloc within the Progressive Caucus on the left and the Republican Study Committee on the right held firm against the legislation. read more »

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HOUSE VOTE: The Uprising Comes to Wall Street and Washington

By David Sirota
September 29, 2008

Anyone who thinks we should pass the $700 billion bailout bill as is needs to answer a simple question: How does handing over $700 billion to Wall Street help the economy any more than, say, handing over $700 billion to homeowners, or spending $700 billion on a New Deal-style full employment program? read more »

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Back In the USSR - Where Amerika Has Always Been

By David Sirota
September 26, 2008

A number of commentators and politicians have noted that the proposed financial bailout is, in effect, a socialization of Wall Street. They claim that such socialism is new in the good ol' commie-hatin' U.S. of A. But as my weekly syndicated newspaper column today shows, it's far from new. read more »

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With Whom Should White House and Congressional Leaders Be Negotiating?

By Bill Scher
September 26, 2008

House conservatives haven proven themselves completely lacking seriousness in their approach to the financial crisis.

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EPI Policy Memorandum On The Bailout Plan

From epi.org

While we recognize the urgency of the crisis and the need for quick action, we do not believe that it requires acceding to every aspect of the Bush administration's plan—and we are relieved to see that some key members of Congress agree. These times call for bipartisan negotiations that protect the taxpayer, offset the government’s expense, and re-regulate markets to reduce the distortions that gave rise to this unfortunate situation in the first place. read more »

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