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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
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To: Kevin Rose who wrote (139294)9/30/2008 8:07:44 AM
From: JBTFD  Read Replies (1) of 173976
 
In my opinion and from what I've read the biggest problem with this bill is that the "loan" from the US taxpayer to the banks is undercollateralized. Right now it has some lame statement that if the taxpayers are not paid back within 5 years then they will start to think about what to do about it. That's the impression I get anyway. Under such an agreement it is a given that the taxpayer will get shafted.

The best potential solution I have heard of is a security transfer excise tax of maybe .25% that would be levied on all securities transfers, with the money raised going to repay the taxpayer back for the money they have given for what could very well end up being close to valuless paper.

This tax would have the added advantage of making it less attractive to speculate on derivatives transactions. We really need to put a curb on that, if it is not already too late to do so.
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