Home
Refresh   Tag(s): ; ; ; ; ; ; ; ; ; ; (more...) ; ;  (less...)
Add to My Group
October 1, 2008 at 07:45:49

View Ratings | Rate It

Populist Solution to Financial Crisis

submit to twitter
submit to reddit
submit to digg
Tell A Friend

By Kuzminski (about the author)     Page 1 of 1 page(s)

opednews.com     Permalink

For OpEdNews: Kuzminski - Writer

Rebuild Main Street not Wall Street.

We need a populist solution to the financial crisis. Such a solution would give taxpayers' money directly back to taxpayers who need it; it would not give any more to corrupt corporations. We need citizens' welfare, not corporate welfare.

Wall Street doesn't get it. It claims that Main Street is so interwoven with Wall Street that what's good for Wall Street is good for Main Street. Unfortunately, the problem is that what's good for Wall Street is bad for Main Street, and suddenly nobody outside of Wall Street wants to keep that corrupt system going. The defeat of the bailout package in the House of Representatives was a combination of ideology and practicality, a vote by fiscally responsible conservatives who couldn't take it anymore, and prudent liberals listening to the avalanche of outraged emails from constituents. It was a vote of no-confidence in the privatized financial system.



What to do now? Simple. Give the $700 billion directly back to the Americans who need it: Use it as a relief fund to forestall foreclosures, protect bank accounts, and to boost unemployment insurance. But make it payable to the individuals affected, not institutions. One stunned talking head on CNBC stammered, "But you can't just give $700 billions to individuals!" Of course we can. Just stipulate the conditions for qualifying individuals (e.g., a foreclosure notice, etc.) and have them apply directly to the Treasury Department, which will send them a check.

Use whatever is left over, if anything, to start a massive public works program to rebuild and expand American's infrastructure, particularly its railroads, and develop renewable alternative energies. Just do it!

 

Adrian Kuzminski is a local activist in upstate New York, and Research Scholar in Philosophy at Hartwick College. He is the author of FIXING THE SYSTEM: A HISTORY OF POPULISM, ANCIENT & MODERN (Continuum Books).

The views expressed in this article are the sole responsibility of the author
and do not necessarily reflect those of this website or its editors.

Contact Author Contact Editor View Authors' Articles

 

Book Recommendations for "Bailout Crisis In"
Bubbles, bursts and bailouts: A comparison of three episodes of financial crisis in Japan (Center paper)
by Koichi Hamada


Number of pages:
Publisher: Yale University, Economic Growth Center

Records
by John Montana

$9.95

Number of pages: 8
Publisher: Association of Records Managers

View All Book Recommendations

Share this page: (what's this?)                   Tell a Friend: Tell A Friend

FACEBOOK      DIGG THIS      Add This Page to Mr Wong!           NEWSVINE      DEl.ICIO.US      Looksmart Furl      NETSCAPE      My Web      Tag!RawSugar      Blink List     (More...)

Comments: Expand   Shrink   Hide  
No comments

 
Want to post your own comment on this Article? Post Comment


 

 

 

Tell a Friend: Tell A Friend

Copyright © 2002-2009, OpEdNews

Powered by Populum