Power of Story
Send a Tweet        
- Advertisement -
Exclusive to OpEdNews:
OpEdNews Op Eds

Taxpayer Relief from Bailout

By   Follow Me on Twitter     Message Robert Cogan     Permalink
      (Page 1 of 1 pages)
Related Topic(s): ; ; ; ; , Add Tags Add to My Group(s)

View Ratings | Rate It


Author 7783
Become a Fan
  (3 fans)
     Anybody with their eyes open knew this market crash was coming a long time ago. See the cover story of the May 2006 Harper's Magazine, "The New Road to Serfdom: An Illustrated Guide to the Coming Real Estate Collapse," 27 months ago. And Republicans and Democrats, the political enablers of the market meltdown  knew what to do to retard or deflate the bubble and make for a softer landing. But they didn't do it in order to await a panic crisis in which they could hurriedly pass legislation sticking taxpayers with the costs. Shades of Naomi Klein's Shock Doctrine.
    But taxpayers don't have to lose any money permanently in the bailout. All elements of the financial sector, from little fraudster loan arrangers and appraisers through securitizers, through the security rating services colluded in this gigantic kiting scheme. It's fitting therefore that there be collective deterrence from it happening again.  A properly structured financial transaction tax ("Keynes tax") levied on all financial  institutions themselves, with a big reward for turning in evaders, could reduce short term speculative lending, trading and writing bad "securities." A narrower based (currency exchange) Tobin tax alone has been estimated as recovering to the Treasury up to $150 billion per year. The Keynes tax could recover money from the financial sector that spawned the market crash, while not being unduly burdensome to millions of small investors. The recovered money could be used to reduce or eliminate or reimburse taxpayers bailout funds. Inclusion of a Keynes tax should be required in bailout legislation. You won't see Repblicans and Democrats do it without pressuring them heavily!


- Advertisement -

View Ratings | Rate It


This author, although unknown at the time, got the same "WRONG MESSAGE" from the same Rockefeller university (U. of Chicago) as Bernie Sanders, at the same time ('58 - 62.) He was born 1940, is a white male American retired college professor of (more...)

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon

Go To Commenting
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.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

A Progressive's Indictment of the Democratic Party

Will Bigotry Sabotage Republicans in the Election of 2012?

The Biggest Outrage: Bank "Persons" Preferred Over American Citizens

Gun Lethality Deposit: A "Pop Bottle" Remedy?

Republicans, Eskimos and "Good Germans"

Jumpstart America

Tell a Friend: Tell A Friend

Copyright © 2002-2017, OpEdNews

Powered by Populum