Sunday, September 21, 2008

It Must Be Unpalatable
Matt Stoller is showing e-mails from some anonymous congressmen. I particularly like this comment.
The only defense for the play is for a significant group of Democrats to say they won't vote for any proposal that isn't unpalatable to industry, and mean it. It's a pretty high stakes game of chicken, but otherwise we come out of this with nothing but a $700 billion giveaway to a crooked industry.

I think it says a lot of bad things about our society that we would consider anything that is acceptable to the industry. They failed. They should be punished. I propose a list of things that should be imposed on all companies that accept money in this crises.
  1. All CEOs, CFOs, and CEO's should be fired without any further compensation. Including past executives.
  2. All salaries are capped at $165,000 the amount a US Senator makes.
  3. Companies will stop all lobbying efforts while they are being bailed out.
  4. They will stop paying for any employee's social club dues. Including past employees
  5. They will stop paying for any employee's golf club membership. Including past employees.
  6. All corporate jets will be sold. Leases will be ended. Fly coach.
  7. All limousines will be sold. All employees will be expected to get to work on their own.
  8. All art that is worth more than a thousand dollars will be sold.
  9. All resort properties will be sold.
  10. No dividends payed until the tax payers get their money back.
The companies should be stripped to the bone to show they are serious about getting out of financial trouble.

They want our money, they should get a very bitter pill, if they take it.
Update: To be clear the monies from the sale items are to go to the tax payers.

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