David Martin

The Bailout to End All Bailouts

How about a 95% tax on bonuses paid over the last 5 years to executives in companies which go bust due to their pyramid selling schemes on the house markets?
That includes their bundling into derivatives, of course.
That should raise a fair few billions in contributions to clearing up the mess they have made,
Hopefully they will join the homeless who suffer for their reckless endangerment of the financial system.
A little fairer than charging people who have in no way profited from these scams, I think.
Too big to fail? Then bankrupt them and split them up.
Liquidity should be injected into the system through new institutions set up for the purpose who would buy the assets of the failed institutions at their true market rate.
If anyone disagrees and thinks that taxpayers money should be used to prop up the present system, then they should be given the opportunity of leading the charge by putting up their own assets.