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The rescue pacakge (the legistlation that is) that is sugggeseted by Secretary Paulson raises many concerns. Especially section two. No bid contracts? Are they kidding me?
Look, we don't need chicago school economists imposing on us Argentina or Chile Style solutions... after all you may want to check where those countries are, and where they wre begore Friednam got done with them.
They were the top economies of the southern cone. These days they are still struggling becuase Free Trade and all that does not work
Now what we need, for starters, is if a company is too big to fail, let me itnroduce you to the Sherman Anti-trust Act... USE IT, break these companies apart
We also need to ensure that workers remain in their homes... we own it... redo those loans so people can keep homes... bottom up economics
WPA style programs, that way we can rebuild the infrastructure and HIRE those who will loose their jobs in this mess as credit tightens and businesses fail
Oh and the legislation also has to reinsittute Glass Steegal and get rid of Gramm Beechley... oh and while at it, repeal Taft Hatley... and remove all right to work legistlation. We need to give the unions an absolute right to organize right now, and bring back the Wagner Act and give the teeth back to the labor relations board.
We need a mixed economy... where essential serives are in the hadns of the state.. energy comes to mind... as well a medicine... and we need to make sure that capitalism returns to mains stream
What Secreatary Paulson wants to do is push on all of you a Chicago Style Econinic system. Again, look at the southern cone... and do tell me, since McCian tells us that the SS is on the table, what happened to those SS funds that Chilenans had? They got 1\2 best case.
Now if you do this... without thinking... the mood in this country is becoming quite ugly... no joke on that one.
Sincerely,
XXXXX
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