A Sensible Plan for Recovery - Please DIGG & Sign onto a SANE recovery plan

[debbierlus]

http://www.afterdowningstreet.org/node/36453

This is the plan to forward to Obama, Harry Reid, & all your individual reps.

Key Program:
A Stimulus for Main Street –Aid to the Real Economy
Make Wall Street Speculators Pay for the Bailout –No More Debt
Shut down the Casino: Rein in the Unregulated Financial Sector
Limits on CEO pay and Prohibitions on Profiteering from the Bailout

The grassroots blowback against the Bush Administration’s proposed Wall Street bailout is rooted in deep distrust. The following is a simple program that should be incorporated into the current bailout proposal to address the root causes of our problem and restore trust and confidence in our economic system.

1. A Stimulus For Main Street
A $200 billion “Main Street Stimulus Package” could bolster the real economy and those left vulnerable by the sub-prime mortgage meltdown. This package should include investment in renewable energy infrastructure, help to distressed homeowners and federal aid to the states. See the terms of the $56.2 billion proposed Economic Recovery Package proposed by Senators Reid and Byrd.

2. Make Wall Street Speculators Pay for the Bailout
Congress must make the speculators pay for the mess they created. Progressives have put forward $900 billion in revenue. http://www.ips-dc.org/articles/740. This includes a Securities Transaction Tax ($100 Billion); a Corporate Minimum Income Tax ($60 Billion); a ‘Disgorgement’ recovery from profligate CEOs ($40 Billion).

3. Shut Down the Casino: Assert oversight of Financial Markets
Shutting down the casino would include reregulation of the financial sector with new oversight authority and extending oversight to hedge funds and other unregulated financial instruments.

................More at link at top

[BridgeTheGap]

1. far superior to Paulson's plan, or the one voted down on Monday.

There must be some sort of punitive action and regulation with real teeth. Otherwise, it's just an invitation to repeat the behavior.