Unsure about the bailout?

[FSogol]

I recommend this column from today's Washington Post
http://tinyurl.com/4qqm6l

IMHO, a bailout is necessary to protect the market, however the bailout itself does not fix the problems that created the need for a bailout. Any deal should include:

1. Re-regulating the bank, insurance, and finance industries
2. Capping interest rates and fee from credit cards
3. Capping mortgage rates and outlawing interest only mortgages
4. Improve government oversight over mortgages, finance, credit cards, and banking industries.






Edited for broken link.
3rd times a charm. ;-)

[JDPriestly]

1. We also need an economic development plan for America.

We need to rebuild a lot of infrastructure and diversify our energy sources to include a lot more alternative energy (as the Germans have done).

[El Pinko]

2. Without reversal of nafta, hikes in wages and a restructuring of the economy...

...none of those things will be enough, because NONE Of them address the "race to the bottom" which is at the root of this mess.

[SoxFan]

3. Bad link

Based on what you said, I'd like to read the whole thing.

[Stellabella]

4. Yep, I totally agree.

The repukes will never go for that, so if Obama came out for those points that will actually help the ordinary person, he'll win in a landslide.

[wtmusic]

5. By the time the legislation you describe can be put together

the need for a bailout will likely be gone. Any banks that are going bankrupt will already be there.

We need the legislation; just skip the bailout.