Monday, September 22, 2008

A sane response to the banking crisis

Good words, Senator Sanders. Glad to have a socialist in the Congress. What must we, the regular people in the US, do to get this proposal taken seriously?

Or are we doomed to watch our "elected" government steal all this money from us and from our children and grandchildren and use it to line the pockets of Wall Street bankers?
Let us be clear. If the economy is on the edge of collapse we need to act. But rescuing the economy does not mean we have to just give away $700 billion of taxpayer money to the banks.
Any proposal must protect middle income and working families from bearing the burden
of this bailout.
Second, in addition to protecting the average American from being saddled with the cost, any serious proposal has to include reforms so that we end the type of behavior that led to this crisis in the first place.
Third, we need to address the needs of working families in this country who are today facing very difficult times. If we can bail out Wall Street, we need to respond with equal vigor to their plight.
Finally, we need to protect ourselves from being at the mercy of giant companies that are "too big to fail," that is, companies who are so large that their failure would cause systemic harm to the economy.
The future of our country is at stake.

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Update: Listen to Senator Sanders discuss our options on Democracy Now!

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