House Dems should create a populist bill, with helping Americans as its foundation

[seafan]

There is still tremendous pressure to *rework* this failed bailout bill, with Bush and his fat cats trying to force a rapid decision--- in 2 more days(!). We must reject this pressure tactic out of hand, as it is coming from those who created this economic debacle.


The way the now-rejected bailout bill was created and foisted on us was all wrong. It was written by the same Wall Street billionaires who also want to rewrite the *new rules* now. No wonder it was only 3 pages in length. They wanted their $700 Billion, but it contained nothing for the people.


Don't think so.



This is how we should approach this banking crisis:


The Democrats have the majority in the House. They should craft and pass a populist bill, aimed at bottom-up support, with provisions geared to keep people in their homes. Freeze foreclosures. Allow people who are losing their homes to go before bankruptcy judges/holders of their mortgages to renegotiate for fixed, lower-payment long term mortgages.

Load the bill up with economic support to allow more people to stay in their homes and continue to pay their mortgages. This will put more money into the system. (In stark contrast, the $700 Billion bailout of Wall Street would have TAKEN our money out of the system and given it to the same freewheeling greed heads who are responsible for this crisis.) Raise the minimum wage. Put a surtax on those making over $1 million a year.

Create ways to tax those who waltzed away with millions in corporate salaries and golden parachutes at the expense of regular people. Craft new regulations out of the ashes of those destroyed by a now dying conservative dogma.


Pass a populist bill. Don't worry about Republicans who are screaming for more help for corporations and no help for people. Pass a populist bill, Democrats.


Send the bill to Bush and dare him to veto it.

When he does, force HIM to go in front of the American people to explain why he did it.



This fresh approach to this economic disaster that Reagan-Bush-Bush created should be to turn it around by gearing it toward THE PEOPLE, and build the foundation of economic support from the bottom up. As we have seen for the past thirty years, those at the top are more than able to fend for themselves. After 30 years of unbridled greed, those who stole their way to the top will be forced to pay.


House Democrats, you have the majority. And you hold the power in your hands to do this.



Pass a populist bill.

[slipslidingaway]

1. Almost two weeks have been wasted working from the original

Paulson idea that the Treasury needs 700B +

:(

[Virginia Dare]

2. They are going to need some repub support for it to pass..

so I don't see it happening right now.