So, some of the Republican holdouts came up with their own plan.

[riverdeep]

Anyone know the details of it? How likely is it to work and how likely would it be to pass?

[Mojambo]

1. It's centered around massive tax breaks for corporations and slashing any remaining regulations.

To get the private sector to buy up all the bad debt.

At least that's what I've heard.

[riverdeep]

4. Interesting.

That's the story going around the circles in the right. That this wasn't caused by too little deregulation, but by too much. I keep an eye on Ron Paul, and even though the Republicans completely shut him out, they are borrowing the Libertarian concept that this was caused by government interference.

To be honest with you, it sounds like it might work politically. Any thing that purports to fix the problem and not cost the taxpayers anything will be popular.

[gravity]

5. They blame the problem on too much regulation

It is a terrible plan

[Captiosus]

2. Posted on MSNBC 29 minutes ago, best I could find

http://www.msnbc.msn.com/id/26894553/

WASHINGTON - A group of conservative Republicans in the House on Thursday proposed a financial rescue package of tax breaks and a new government-sponsored insurance program for mortgage-backed securities as an alternative to President Bush’s proposed $700 billion bailout of Wall Street.

Instead of the government buying the toxic mortgage securities, banks, financial firms and other investors holding them would pay premiums to the Treasury to finance the insurance coverage.

The idea is that the insurance would give investors enough confidence to buy the illiquid securities and establish a market for them.

[Georgiadawg]

3. I don't know but look at this grandstanding email I just got

I don't know but look at this grandstanding email I just got from my Republican Congressman (After writing to him about the bailout)

September 25, 2008


Thank you for contacting me with your comments regarding the bailout proposal. I appreciate the benefit of having your views on the issue.

I am trying to find a common sense market-based solution to this problem, as I believe we have to do something to avoid a total economic collapse. However, we have yet to see a legislative proposal regarding these issues.

I am working with the Republican leadership to try and find a way to solve this problem that will not put tax payers on the hook, does not reward the people who have caused this to occur, and one that will strengthen our economy.

I believe a sound economic and market-based solution is possible if we can get it considered by the Democratic leadership. They have blocked all of our efforts thus far. They seem to be playing politics with this issue, dragging it out over a long period of time. I even wonder if they actually want to see these severe economic problems to continue or maybe even get worse, thinking that it may help them politically.

We must put partisanship aside and find solutions to protect the hardworking American people. Rest assured that I will continue to work towards that end. Please let me know of any suggestions that you might have.

Thank you for contacting me with your thoughts and concerns,

Sincerely,
Paul Broun
Member of Congress

[riverdeep]

6. He is aware that that the one who proposed the idea,

Paulson, is part of the Republican administration? And that the Republican President came out yesterday for a quick passing of this proposal? These people are so afraid of their own party. Also, this has only been proposed within the last ten days or so. How much 'dragging out' can be done in that timeframe?

[Georgiadawg]

8. his message is laughable, I agree

I responded with,

Wow -- I'm glad you didn't support Paulson's original plan, but this is an unbelievably transparent way to blame the democrats! This is politicking of the lowest sort. Instead of trying to find a bi-partisan solution, the republican leadership is just trying to make the other party look bad while our country hangs in the balance. I'm disappointed.

I should have been tougher.

[chill_wind]

7. Here's a little bit from McClatchy:

"..chief feature would permit the government to provide insurance to firms to buy troubled assets rather than spend taxpayer money on them."


http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=4090868&mesg_id=4091000