Draft of the $700 billion proposalby gwar on September 24th, 2008 at 5:54 pm |
(7 votes, average: 4.57 out of 5)
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The latest Democratic proposal, which is subject to change, includes the following:
—Treasury must obtain warrants from a company that sells toxic mortgage assets to the government. It also must remit any profits back to the government’s general fund.
—The Treasury must disclose the purchase of troubled assets within 48 hours.
—There will be judicial review of the Treasury’s actions but no court injunctions.
—The Treasury must minimize conflicts of interests among those managing toxic assets.
—There should be help for subprime borrowers to prevent foreclosure on their homes.
—There will be curbs on executive compensation, including a prohibition on golden parachute payments for two years.
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I’m okay with a lot of that surprisingly, except for two things:
1) Profits should be remitted to the Socialist Security Fund AND NOT TOUCHED.
2) Fuck the subprime deadbeats. They are as guilty as the dickhead banks.
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September 24th, 2008 at 6:23 pmJake, re #2, a million applause, infinity karma points, plus a lifetime figurehead role of KoPG, irrespective of votes.
September 24th, 2008 at 6:35 pmThat sure is a HUGE .pdf logo. Anybody else see that, or is it just the retardness of Google Chrome shining through on me?
+infinity more karma points for Jake’s #2.
September 24th, 2008 at 7:06 pmI’m sorry, but you must’ve been a certifiable idiot to enter these subprime mortgages. Oh, you mean, I can buy a 400k house even though I only make 40k a year!? Man up, pay some fucking rent, and save your money properly if you want a house.
Thanks fellahs.
No, that is a huge fuggin pdf logo!
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September 24th, 2008 at 7:11 pm