"The Obama Economy Rescue Act of '08"

[WeDidIt]

If Obama came out with a plan by Thursday to be presented to both houses of Congress that spelled out a basic rescue of the finance industry, costing only $150 billion until February, which invests the capital of the taxpayers in the debt securities at issue in the bailout, while guaranteeing a cap on the CEO compensation of participating companies and offering part ownership to the US Govenrment, it would be passed hands down and Obama would be hailed as the guy who saved the economy.

Discuss.

[msongs]

1. many of us wish for something similar including a pledge to revamp the whole system nt

[MercutioATC]

2. Yeah, but he has to be right.

It's risky. I think Dems should spend some time (a week) brainstorming with experts (and considering outside-the-box solutions) and introduce a plan that would get at least 90% support from them. Enough Repubs would join to pass it.

But again, they have to be RIGHT.

[msongs]

3. just a statement of INTENT to revamp the system would be better than attacking McCain nt

[MercutioATC]

6. Agreed, but we have to make sure we want that responsibility first.

I'd jump at the chance, but I'm not one of our elected idiots.

[dapper]

4. Taxpayers...

I don't think the taxpayers should foot the bill.

We are already paying for 2 wars! Our Kids will be paying for those wars and their children's children will be paying for this bailout.

We need to be fiscally responsible, Why can't we expect the same from our Government and big business??

Dap

[endthewar]

5. Republicans would try to block it purely for political reasons

[msongs]

7. limited bailout now to tide us over to the massive reconfiguration after obama wins nt

[endthewar]

8. No way would Republicans let Obama ride that kind of wave to the election

McCain might threaten them personally if any of them voted for it. It would become the Bush-Democrats bill, and I'm not convinced that Nancy Pelosi wants to go there.