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Post by agito on Aug 7, 2010 17:01:00 GMT -6
somewhere in the lists of this forum I pulled apart a james pethokoukis piece- i think it was trying support Phill Gramm and the %10 corporate tax cut. anyhow- blogs.reuters.com/james-pethokoukis/ here is he quoting from himself for a news story. Of course, if what he is talking about actually is real.... then axelrod and emmanuel really are morons and I hope the public doesn't swallow it.
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Post by unlawflcombatnt on Aug 7, 2010 18:17:00 GMT -6
I read this one previously by Jim Pethcookoo.
It's typical of the greed-based, self-serving, counter-productive suggestions that come out of Wall Street.
A better idea is to force banks and lenders to take an immediate 50% write-down on their loans to homeowners, and reduce monthly payments by 50% in conjunction with the writedown. (And cancel ALL bonuses, and cut all financial industry managements salaries by 50% until those lenders have restored their capital to the required level.)
If the Government can interfere on behalf of bankers and burglarize taxpayers, then it can do the same thing in reverse--claw back the money from bankster thieves and return it to their victims.
Now this would really "free-up" some money for spending by consumers.
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