Solutions to the Financial Crisis

Date: Tuesday, September 30, 2008 1:01 AM
Category: Allgov Blogs
Watching the nation’s news commentators, you would think that the bailout proposal created by the Bush administration, adjusted by the Congressional leaders and then rejected by the House of Representatives was the only possible answer to the nation’s financial problems. Fortunately, many observers from the Left, Right and Middle have presented alternative solutions. Here are a few of these ideas. Some are comprehensive and some deal with individual issues, but they are all worth a look.
 

Where to Find $900 billion for Recovery (by Anderson, Collins, Muhammad and Pizzigati, Institute for Policy Studies

Tweak the Bailout Plan (by Stuart M. Butler and Edwin Meese, III, Heritage Foundation)
Fix the Bailout Plan (by Dominique Strauss-Kahn, International Monetary Fund)
Increase Transparency, Liquidity and Supervision (by Martin Neil Naily and Robert E. Litan, Brookings Institution)
Home Owners Loan Corp. and Federal Revenue Sharing (by James K. Galbraith, Washington Post)
Cut Defense Spending, now at $612 billion for 2009 (by Chalmers Johnson, TomDispatch.com)
Homeowners Emergency Loan Program (National Community Reinvestment Coalition)
Keep Borrowers in Their Homes (by Andrew Jakabovics, Center for American Progress)
Super-Bonds (by John P. Hussman, Hussman Funds)
 

Latest News

64,613 Software Engineers Join Class Action Hiring Conspiracy Lawsuit against Apple, Google, Intel and Adobe

The class-action lawsuit, with 64,613 plaintiffs, targets Google, Apple, Intel and Adobe for secretly agreeing not to poach each other’s engineers and to share salary information in an effort to control salaries. The collusion reportedly began in 2005, when Apple’s Steve Jobs approached Google’s top executive, Eric Schmidt, about working together to hold down salaries. After getting Google on board, Jobs “strong-armed” Adobe into joining the secret pact, according to court documents.   read more

Highway Upkeep Trust Fund Nears Bankruptcy

The Highway Trust Fund’s Highway Account, which finances maintenance and construction projects at the state level, currently has about $8.4 billion in it. But the U.S. Department of Transportation warns that demand for this funding is outpacing money available. As a result, the fund may go bankrupt by August. Without a new funding plan, the Transportation Department would have to stop reimbursing states for highway projects.   read more

Frackers Get Set to Cross the Border into Mexico

The new opportunities have existed only since December, when Mexico’s Congress approved a landmark bill that relaxed the 75-year-old grip over oil and gas development by Pemex, the state oil monopoly. The legislation paves the way for foreign companies to cut deals with the Mexican government to develop new oil fields. One such field is the Eagle Ford Shale Play, which straddles the Texas-Mexico border, running for hundreds of miles deep beneath the earth.   read more

New FDA Food Safety Regulation may Drive up the Cost of Beer

The FDA wants to classify companies that distribute spent grain to farms as animal feed manufacturers. Breweries regularly sell or give their spent grain, which is left over from the beer-making process, to dairy farms, which feed it to cows. Breweries would have two choices: Pass this cost onto consumers in the form of higher beer prices, or stop selling the spent grain to farms and just dump it in landfills, which would be less environmentally friendly.   read more

Onondaga Tribe Appeals to Human Rights Court

The Onondaga Nation spent eight years trying to get a U.S. federal court to side with its arguments that the state of New York illegally took possession of 4,000 square miles of tribal land in the late 18th and early 19th centuries.The tribe’s complaints go beyond land ownership. It also says state and federal agencies allowed American factories to pollute Lake Onondaga, which once was part of tribal lands.   read more
see more...