Equity, Not “Cash For Trash” In Bailout by Dennis Kucinich

[Joanne98]

by Rep. Dennis Kucinich
Washington, Sep 22, 2008

Congressman Dennis Kucinich

Kucinich Announces Plan for Ownership Society

Congressman Dennis Kucinich D-OH today made the following statement announcing a plan for a new Ownership Society:

“The Wall Street financial disaster is an opportunity to create a genuine ownership society. If Congress invests $700 billion in the market, then the American people must get something of real value for their investment.

“Simply purchasing bad debt, “cash for trash” and not receiving anything of value or giving $700 billion and not having a commensurate equity interest in Wall Street firms is unacceptable. No “cash for trash”.

“Since the bailout will cost each and every American about $2,300, tomorrow I will offer legislation to create a United States Mutual Trust Fund, which will take control of $700 billion in stock assets, at market value and not higher, convert those assets to shares, and distribute $2,300 worth of shares to new individual savings accounts in the name of each and every American.”

Kucinich arrived at the $2,300 figure by dividing the cost of the bailout $700 billion by the US population over 300 million.

***

http://dandelionsalad.wordpress.com/2008/09/22/equity-not-cash-for-trash-in-bailout-by-dennis-kucinich-youtubes-cutest-animals/

[Union Thug]

1. GO DENNIS! n/t

[Greyhound]

2. Correct as usual.

So who the hell else up there is working for us?

[David Zephyr]

3. Excellent. If the taxpayers are buying, then we want ownership.

Equity. Dennis is the man.

[glinda]

4. Trillion Dollars for the Constitution

see it goes like this: We pay them a trillion dollars, they get the Constitution. Win win for them!

[halobeam]

5. KMR... kick must read!

[mzmolly]

6. Thankfully, Kucinich and Dodd are on the same page! But I say no deal without McCain

as a cosponsor. ;)

[Rosa Luxemburg]

7. Interesting!

[OakCliffDem]

8. K & R