The financial markets are screaming that the $ 700,000,000,000 bailout is not enough. A rescue was necessary, but we should not heap more money to the very institutions and CEOs who have proven to be greedy and incompetent ..
) With the bailout, every citizen (man, woman and child has accepted $ 2,000 of the bad debt of banks, which have promoted, maintained, and proudly presents the greed of their CEOs. In addition to his greedy, they had no idea what risks they are withother people's money. And most importantly of all, they did not care. Finally, it was not in a party like this since the year 1920.
CEOs in other countries are not like American CEOs. While American CEOs were earning 400 times as much as the average wages of their employees, the ratio in other countries much less. Over 60 in Brazil and Mexico. Less than 30 in Canada, France, Germany and South Korea. And only 11 in Japan.
For a concrete example, the CEO of Exxon-Mobil made$ 69.7 million in 2005 (and even more since then). The CEOs of major European oil companies British Petroleum (BP) and Royal Dutch Shell, which is less than 10% of their American counterparts. This extreme greed is uniquely American - it's a cultural thing. American brand of individual freedom and pure capitalism have led us to the brink of economic abyss. Only a concerted effort by the entire nation can go back from the edge.
Consider a very different "rescue" paradigm - a paradigm shiftCompanies not to socialism, but on economic decisions of 350 million U.S. citizens. With the rescue package, Wall Street gave each citizen $ 2000. Instead, when what the government) us (U.S. citizens, because of money? What if we invested it for us? What if every citizen received a voucher for $ 2000, they could use in one of four ways:
1) Pay down the mortgage now.
2) Buy a $ 1000 24-month CD and a $ 1000 48-month CD from an FDIC-insured banks without an early withdrawalOption.
3) Invest in the education of their children or grandchildren free of one of the many 529 college savings plans, that the tax if the result can be used to pay tuition.
4) Invest in a fund that offers at least 20 shares or bonds in a fund family, flexible investment options, but structured so that no more than 20% deduction allowed in a calendar year holds years.
The $ 2000 for minors (under 18) are automatically created a 529 education account. Ifthe funds were not achieved in the maturity of the minor age of 22, they could be used withdrawn at this time.
The Us Investing in U.S. Economic Rebirth Plan would immediately help the people behind their mortgage payments ..
The Us Investing in U.S. Economic Rebirth Plan would return capital in our banks, in buying the new CDs. Re-capitalization would occur even chose some investors in the education fund and fund short-term fixedIncome mutual funds.
The Us Investing in U.S. Economic Rebirth Plan would give tens of millions of young Americans a better shot at a university or college education.
The Us Investing in U.S. Economic Rebirth Plan, the stock market as a revival of old and new investors regain confidence from the actions of millions of other Americans, five years to make commitments for equity investment.
Most important is that we invest in U.S. Economic Rebirth Planwould treat everyone equally. It would give every American an equal chance to contribute and benefit from an economic recovery.
God forbid we need another huge rescue plan. But if we do, the Us Investing in U.S Economic Rebirth Plan would provide both efficiency and equity.
The next President and the new Congress need to think outside of the reeking box filled with the litter of greed at any price. Perhaps they will to let us invest in ourselves.
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