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,
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

For the Bottom 90% of Americans, Financial Security is Slipping Away

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U.S. Wasted $7.6 Billion to Fight Poppy Cultivation in Afghanistan…Which is Now at an All-Time High

“Afghan farmers grew an unprecedented 209,000 hectares of opium poppy in 2013, surpassing the previous peak of 193, 2007," said SIGAR. "With deteriorating security in many parts of rural Afghanistan and low levels of eradication of poppy fields, further increases...are likely in 2014.” The illicit trade was valued at nearly $3 billion last year. Regions that had become “poppy free” as a result of U.S. anti-drug programs have been experiencing a “resurgence in cultivation.”   read more

2.4 Million U.S. Financial Records a Day Stolen by Hackers in Last 6 Months

“We’re in a day when a person can commit about 15,000 bank robberies sitting in their basement,” said the FBI's Robert Anderson. Some of the big name businesses targeted by hackers recently include JPMorgan Chase, Target and Home Depot. About half of all adult Americans—110 million people—have had their financial data compromised in some way in the past year. About 80% of businesses don’t realize their accounts have been breached until being informed by financial institutions or customers   read more

Senators Coburn and Lee Fight to Halt Creation of a Women’s History Museum

Republican senators Tom Coburn and Mike Lee are blocking the measure from moving forward in the Senate. They say the plan could result in the federal government paying for a large portion of the museum at a time of trillion-dollar debts. Bill co-sponsor Carolyn Maloney (D-New York) says the holdup is “just outrageous.” She noted that other groups have established museums in Washington through the creation of a commission, which is what the bill calls for.   read more

In a Reversal, Rwanda Screens Air Passengers Arriving from U.S. for Ebola

The government of Rwanda has decided to start screening all visitors arriving from the United States. Rwanda may be reacting to an incident in New Jersey, where two Rwandan exchange students were pulled out of school following fears by staff members and parents that that the two might be carrying the Ebola virus, despite no evidence that they were. In fact, New Jersey is closer to Texas, site of the U.S. outbreak, than Rwanda is to West Africa, more than 2,500 miles away.   read more
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