Duke professor offers 'proactive' plan to rescue economy

[kick-ass-bob]

Source: WRAL news, Raleigh NC

Durham, N.C. — A Duke University professor says that lawmakers should have acted sooner to prevent Monday's meltdown on Wall Street.

They did not, however, and Campbell Harvey, a professor of finance at Duke University's Fuqua School of Business, has formulated a "proactive" plan for Congress that he said would give a good return on buying bad assets and increase credit availability for small businesses and individuals.

Read more: http://www.wral.com/news/local/story/3640269/

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A link to his "proactive" plan is included in the story

[redqueen]

1. He's exactly right... they should have acted sooner...

and should have done some research before acting.

(Guardian - "Not so much bail-out as rip-off: http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x4124428)

The Paulson plan was an insult. It should never have been given serious consideration.

Apparently more than a few Dems in Congress are A-OK with Disaster Capitalism.

[The Backlash Cometh]

6. The plans were in the White House for months.

[redqueen]

8. I'd never be so naive as to expect anyone in the White House to act proactively.

Their base stood to gain a lot more by letting the crisis hit so they could get the Disaster Capitalism something-for-nothing no-questions-asked bill rammed through.

The Dems in Congress, though... well...

[Doctor_J]

2. My plan would start would pitchforks and torches

and lots of neocons in prison.

[paparush]

4. My plan starts with - Mr. Paulson, you have the right to remain silent.

[kick-ass-bob]

5. As satisfying as that would be

it doesn't hit the immediate problem.

Well, maybe it does. ;)

[xchrom]

3. recommend -- it's worth discussing. nt

[REACTIVATED IN CT]

7. Makes sense to me

It would keep the system together until President Obama can revitalize the economy by creating green jobs, rebuilding our infrastructure and boosting mass transit options

[laureloak]

9. Could be the basis of a holdover plan. n/t