Wednesday, 1 October 2008

Credit Crunch - Stick or Bust

With the US financial house of cards close to collapse and the likelihood of the aftershocks dragging exchanges from Tokyo to Paris tumbling after it , is the Bush Bail Out the best hope for salvation? More importantly however what does the general public think should happen?
Should Tax Payers worldwide be forced to pay for the excesses of the gorging Humpty Dumpty like Banks or should they be left to their great fall even though it may mean long term hardship for Tax Payers.
It is an emotive subject and generates agitated debate from all quarters……But what do you think? Please vote in the Poll on the right and we would love to hear your comments and thoughts.

1 comment:


    oh and I found this.......

    I'm against the $85,000,000,000.00 bailout of AIG.
    Instead, I'm in favor of giving $85,000,000,000 to America in
    a We Deserve It Dividend.
    To make the math simple, let's assume there are 200,000,000
    bonafide U.S. Citizens 18+.
    Our population is about 301,000,000 +/- counting every man, woman
    and child. So 200,000,000 might be a fair stab at adults 18 and up..
    So divide 200 million adults 18+ into $85 billon that equals
    My plan is to give $425,000 to every person 18+ as a
    We Deserve It Dividend.
    Of course, it would NOT be tax free.
    So let's assume a tax rate of 30%.
    Every individual 18+ has to pay $127,500.00 in taxes.
    That sends $25,500,000,000 right back to Uncle Sam.
    But it means that every adult 18+ has $297,500.00 in their pocket.
    A husband and wife has $595,000.00.
    What would you do with $297,500.00 to $595,000.00 in your family?
    Pay off your mortgage - housing crisis solved.
    Repay college loans - what a great boost to new grads
    Put away money for college - it'll be there
    Save in a bank - create money to loan to entrepreneurs.
    Buy a new car - create jobs
    Invest in the market - capital drives growth
    Pay for your parent's medical insurance - health care improves
    Enable Deadbeat Dads to come clean - or else
    Remember this is for every adult U S Citizen 18+ including the
    folks who lost their jobs at Lehman Brothers and every other company
    that is cutting back. And of course, for those serving in our Armed
    If we're going to re-distribute wealth let's really do it...instead
    of trickling out a puny $1000.00 ( 'vote buy' ) economic incentive that is being
    proposed by one of our candidates for President.

    If we're going to d o an $85 billion bailout, let's bail out every
    adult U S Citizen 18+!

    As for AIG - liquidate it. Sell off its parts.
    Let American General go back to being American General.
    Sell off the real estate.
    Let the private sector bargain hunters cut it up and clean it up.
    Here's my rationale. We deserve it and AIG doesn't.
    Sure it's a crazy idea that can 'never work.'
    But can you imagine the Coast-To-Coast Block Party!
    How do you spell Economic Boom?
    I trust my fellow adult Americans to know how to use the $85 Billion
    We Deserve It Dividend more than I do the geniuses at AIG or in
    Washington DC .
    And remember, The Birk plan only really costs $59.5 Billion because
    $25.5 Billion is returned instantly in taxes to Uncle Sam.

    Ahhh...I feel so much better getting that off my chest.
    Kindest personal regards,

    T. J. Birkenmeier, A Creative Guy & Citizen of the Republic