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What Do We Look for in the Bailout Package? It’s Simple September 22, 2008

Posted by trouble97018 in Economy, News, Politics, Repiglicans.

Huffington Post

Hilary Rosen

Posted September 22, 2008 | 12:17 PM (EST)

Lots of smart people with extensive financial and economic expertise will weigh in on the bailout legislation now winding it’s way through Congress.

I am going to look for four simple things:

1. Taxpayers need equity in the companies we are saving.

If the government is guaranteeing rather than buying the “bad” paper, once those investments pay off — and many of them eventually will — we will have gotten nothing for our money. We will absorb the losses but get nothing for the gains.

2. Executive pay must be limited.

Executives of the firms we save must not be allowed to be the ones benefiting. If the firms stock price and profit’s increase during the time we are guaranteeing against their losses, there should be a pool where that money goes to ALL employees after the taxpayers are paid back equity on our investment.

3. Congress must have continued Oversight

The authority should sunset after 6 months. There should be a special committee of Members of Congress on an Oversight Board and they should be forbidden from taking political contributions from the financial sector.   Source Article



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