oldsuretyguy

Alternative Bailout Plan: Good and Bad Ideas

I'm not supportive of a plan that measurably benefits banks and the industries that got us into this mess. Maybe we should be looking to some new avenues for lending or credit creation. The country needs to see the Wallstreet "junk" dealers and "junk" financial products eliminated from the world financial scene. Much of this is unregulated and/or subject to regulatory avoidance. And where does public financing of Wallstreet stop? I hear that the finacial disasters looming on the horizon will be coming in waves like a sunami...... How much of this junk Treasury paper will the foreign markets buy? I think the world credit markets, if they're smart, may be getting close to saying "enough" and no longer willing to buy this nearly worthless Treasury paper. And then what?
Maybe then we will have to fall back on a redevelopment of our own manufacturing base. Oh My God, what a novel idea! Instead of just wheat, maybe we could export some new renewable energy products that would create US jobs, capital and profits instead of creating junk finacial products people were stupid enough to buy! Nah.....! That's way too logical and totally lacks the "fast-buck" appeal.......