Rename the "bailout" contest.

[mzmolly]

I'm joking about a contest of course, but NO ONE likes the term "bailout" and it automatically communicates a give away. While "give me money" was the original Bush/Paulson request, we said NO. We demanded an equity stake (an opportunity to profit or at least break even) when the securities ultimately recover.

Obama pointed this out today in NV. But, unless Democrats RENAME/REDEFINE the bill reflecting the changes we made, and the fact that Bush was denied his original request, we'll never get the public on board.

So, my question is how do we redefine the new plan?

If we/the media keep calling this legislation a "Wall Street bailout," it's forever doomed in the public eye. We could double our money in year and stabilize the economy and people would still be angry that we "bailed out Wall Street."

I think we need to start communicating that this is a necessary "loan/investment"? A "borrow out" if you will.

I've commented a bit on this previously and after Obama's speech in NV today I wanted to bring it up in a thread.
I am not looking to debate the merits of the 105 page legislation, I am interested in ideas/strategy for bringing the public on board.

Suggestions from other arm chair strategists? ;)

[Fresh_Start]

1. "defense against the dark arts"

deregulation and such being dark arts

[mzmolly]

2. LOL

That'll confuse em. ;)

[busymom]

37. too funny...I just spit my diet coke out onto my keyboard after reading that!

[scheming daemons]

3. The Credit Thaw Act of 2008

[grantcart]

12. sounds good and is accurate

[frickaline]

25. Good one nt

[Occam Bandage]

4. National economic recovery plan? National economic investment plan?

[mzmolly]

6. I like economic investment plan.

:hi:

[blondeatlast]

5. This morning, Obama called it a "rescue." that works nicely on two levels--it sets

the blame squarely on the greedheads responsible for this and it shows that we will manage to survive it.

and it still doesn't make it into an easy fix which it decidedly is not.

[mzmolly]

9. I think that's a good description, but I also want to communicate what he said

about the potential for tax payers to make their money back. And of course, I want it wrapped up into a nice little sound bite. :freak:

[Johonny]

7. just get me through January guys plan

[Fresh_Start]

8. apocalypse delayed

because none of us are ready to be left behind

[mzmolly]

10. Hey that might even bring along a few fundies?

:hi:

[Fresh_Start]

11. only the ones who recognize their own limitations

which would be a very very small number

[baldguy]

13. The looting of America, 2008

The Dems give in to Wall St's terrorist threats, and the GOP is busy unlocking the treasury while they deny involvement in the entire affair.

[mzmolly]

14. That's the current meme.

I want to change the flavor a bit. ;)

[Fresh_Start]

15. I like BAILOUT

Blackmailing
Americans
Income
Lucre
Opportunity
Unadvisedly
Today

[Demi_Babe]

16. Liberation of Main Street

[izzybeans]

17. The Heist

the prequel to the "WTF Just Happened?"

[blondeatlast]

18. "Growth Potential." "Shared Promise."

I'm a framer type, too--and I see a lot of the negative reaction is from people not realizing WHY Wall Street needs help in order to protect all of us.

I took economics in HS and I have some idea of what is happening, but the vast majority--even here at DU-cannot grasp how this will affect them.

It's a really good challenge. I'll keep thinking!

[mzmolly]

19. Thanks much!

This portion of Obama's speech today got me thinking on this:

This last part is important, because it’s been the most misunderstood and poorly communicated aspect of this entire plan. This is not a plan to just hand over $700 billion of your money to a few banks on Wall Street. If this is executed the right way, then the government will temporarily purchase the bad assets of our financial institutions so that they can start lending again, and then sell those assets once the markets settle down and the economy recovers. If this is managed correctly, we will hopefully get most or all of our money back, or possibly even turn a profit on the government’s investment – every penny of which will go directly back to you, the investor. And if we do have losses, I’ve proposed to institute a Financial Stability Fee on the entire financial services industry so that Wall Street foots the bill – not the American taxpayer. I’ve also said that if I’m President, I will review the entire plan on the day I take office to make sure that it is working to save our economy and that you are getting your money back.

[Hepburn]

20. Corporate CEO Welfare Program. n/t

[mzmolly]

21. Nah, I'm trying to help Obama win the

next election. ;)

[ProgressiveEconomist]

22. Homeowners' Mortgage Credit Relief Program Act

See http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=132x7245829

[mzmolly]

29. I just heard we're not calling this a new plan a "recovery plan?"

I do think renters might resent assistance only going to homeowners, so perhaps an additional rent credit would be in order? Of course, congress barely agrees as it is. ;)

[ProgressiveEconomist]

33. Renters might resist assistance only going to homeowners" Barney Frank anticipated

this objection and included provisions that help renters whose landlords are delinquent on multi-family mortgages. Frank spoke about this briefly during the 4-hour floor discussion yesterday; I saw it on CSPAN.

See page 28 of the 110-page draft bill the Rs voted down. Links and Table of Contents are in http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=132x7234634 .

[mzmolly]

35. I think if we send renters a small tax rebate

it might help? I know it's all crazy, but I agree with Barney on this. People here have said "why should I help homeowners" not realizing that business, jobs etc. are also impacted if what we hear is true?

[ProgressiveEconomist]

36. IMO you're right to worry about renters, especially in areas where foreclosure rates are high

IIRC there now are about 10,000 foreclosures a day. When former homeowners are put out on the street and ultimately become renters, they must force up rents in those areas.

Plus, a smart but unethical homeowner can exploit a renter when the home value falls below the mortgage principal. Realizing that foreclosure may be inevitable, but that it may take many months, a homeowner can simply stop paying the mortgage, rent out the doomed home to an unsuspecting third party, and use the proceeds to live for free for up to two years!

If a first home has a tenant, and mortgage servicers have not caught up with the homeowner yet, that's a perfect time to go out and buy a new, better home, at much better mortgage terms. If the homeowner can close quickly, that may be the best solution to the original problem. But it better happen fast, and the homeowner had better be ready to stay in the new home for many years until credit repercussions have faded.

[mzmolly]

42. That's a good point that should be communicated.

:hi:

[rug]

23. The Free Market My Ass Restructuring Act of 2008.

[mzmolly]

34. AKA THE F.M.M.A.R.A.

:P

[mscuedawg]

24. Rescue Plan...Take II

:rofl:

[frickaline]

26. Operation Credit Freedom

Republicans can't vote against freedom, right?

And hopefully they won't read it and think it is a defense budget.

[mzmolly]

30. LOL

Good point.

[busymom]

38. LOL

[ProgressiveEconomist]

45. May not fly. People may remember the "Freedom! Freedom!" ads for option-ARM mortgages

with lines of dozens of extras, arms raised in Halleluyahs, singing "Freedom! Freedom!".

When mortgages reset at higher and higher rates, many of those people would have been put out in the street, had they not been just actors. In the past month or two, I saw news footage of runs on branches of the California bank that sposored those ads, with lines of depositors stretching around the block. They weren't yelling "Freedom! Freedom!". And the FDIC seized that bank soon after.

[aint_no_life_nowhere]

27. Enhanced Refinancing of our Children's Future Act?

In other words, second-mortgaging the future of the next generation.

[ProgressiveEconomist]

40. Really like the word 'Refinancing'. How about 'Mortgage Credit Refinancing And Homeowner/Renter Rel...

'Mortgage Credit Refinancing And Homeowner/Renter Relief Act'?

[blondeatlast]

28. "Homeowner's Protection Act." Protection from foreclosure is in there, thanks to Obama

who suggested it.

Keeping Americans in their homes protects prperty values more than anything else does.
It makes Wall Street an afterthought.

[meow2u3]

31. The Crooked CEO Rescue Act of 2008

[mzmolly]

32. .

[HiFructosePronSyrup]

39. "The Failed Banks say it's a Sound Investment Rescue Plan."

[mzmolly]

46. LOL

You all are funnin with me. ;)

[blondeatlast]

41. "Believe it or not, it's saving your OWN butt" Act. Needs some finessing, I suppose

and the acronym doesn't slip off the tongue. :shrug:

[Ozma]

43. Here's three

Save America from eating itself alive act.

Make sure no one can retire from Wall Street or Main street with more than a million dollars act.

Put the crooks in jail act

[Neshanic]

44. The Granite Countertop Revolution

[npincus]

47. "Get out of Jail free.... do not pass go, do not collect $200"