We have to bail out banks, we have to bail out insurers of bad bank bets, and on and on.
Why can't the "bailout" money be used to insure most Americans in a simple, straightforward manner? Couldn't we just insure pension and retirement plans (to cover loses), nationalize banks to get lending going again, and employee people with government programs to repair infrastructure during this period of depressed demand?
How about we garnish or seize the ill-gotten gains of all these trouble-makers? This really isn't their money and they shouldn't be allowed to keep it.
Also, there better be plenty more following Madoff to jail.
Let the bankers, the hedge fund managers, the AIGs, all of them, let them go down. Get the regulations back in place and the institutional capacity back up to snuff so we have transparency and lawful, efficiently operating markets. There will be plenty of smart entrepreneurs willing to step in to fill the void and do things legally.
As Ralph Nader has said, "Sometimes you have to prune the tree for it to grow healthy."
We talk about this using rhetoric -- concern for the unemployed and the American workers -- but our actions are the most roundabout way to relieving their troubles. Why can't we use a more direct approach as mentioned above? I still haven't heard an answer to this.
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