Mandatory Puts back to Wall St!
If the US taxpayer puts up even one dollar sopping up Wall St's leveraged errors in judgment (securities) then we should insist that in 3 or 4 or 5 years time a "put" triggers Wall St or its assigns (not dischargeable in bankruptcy) repurchase from the US taxpayer with interest.
Showdown at "Bailout Alley" - will Congress blink?
Mr Paulson and Bernanke would have us believe, if Congress does not grant these "authorities" great harm would occur to the US economy; really? Economies, sectors or industries naturally experience ups and downs, BOOMS and RECESSIONS; go ask the citizens in the Detroit and Cleveland areas. The Administration has trumpeted very recently that the economy is not in a recession and is "strong" hmmmmm.... what changed in the past 2 weeks? "What did they know and when did they know it" should jump to mind.
Many observers AND ALL WALL STREETERS know that ALL markets hit speedbumps; are NATURALLY prone to extremes: at the zenith of hope and optimism (2004 thru 2006/7) and despairs at its depths, 2008 thru ?? However, eventually begin to function again ON THEIR OWN; there is no shortage of smart people on Wall St. who could figure out how to make money.This time is different - YES but we need to see the actual bottom first
We find ourselves in a VERY unusual UNcomfortable position - this time is different; the pain will be intense (it's only money though) in the future the recovery I believe may be the strongest ever seen; however we need to let the absolute bottom happen; push through it.
IF we let the patient recover on its own.
NO US taxpayer dollars to bail out Wall St - it simply requires a little lifestyle change from business as usual!