Friday, September 19, 2008

Views on "Toxic" loans and bailouts

We're not going to stop the government from "bailing out" our failing and financially flailing brokerages, insurance companies, mortgate entities (some of which the government created) and banks.

So I have a recommendation. Instead of ranting about it how about we be practical?

The losses these portfolios generate should be offset. Those entities "bailed out" or "backed up" by the feds should be barred from political contributions until such time as the "bail out" is over or they no longer need "backing up." Employees or former employees of those companies above a certain level of managment or on their boards, also barred from political contributions.

A sinking fund need to be established for the losses if there are any and when those companies or individuals who benefited from these failed financial fiascos contribute enough to offset those losses, they can start contributing to political campaigns again.

Since the Pharisee does NOT believe in jail, I suggest death or exile for those that are caught violating the above suggestion.

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Anonymous said...

great idea, the sinking fund. How do we get you to Washington, and in charge?

The Pharisee said...

I don't want to go to Washington. If made King though, I would make my summer palace in Glacier Park.

Anonymous said...

would that be an igl-hugh?