Friday, October 31, 2008

Economic Meltdown and Sensible Plan for Recovery

Talking Points: Economic Meltdown

By Inequality and the Common Good

Author(s): Chuck Collins

Put over-reliance on the free market together with “hands-off” government and you get an economic melt-down, with the spectacle of the government bailing out and buying giant financial firms: the very antithesis of the “free market” that the Wall Street cheerleaders were extolling. The Bush administration turned our economy into a casino and gave rich investors almost all the chips. The following document is a series of talking points, in an easy-to-read question-and-answer format, on the key questions being discussed today about the global economic meltdown.

Download/Open This Report

October 15, 2008

A Sensible Plan for Recovery

By Inequality and the Common Good

Author(s): Sarah Anderson, John Cavanagh, Chuck Collins, Dedrick Muhammad, Sam Pizzigati

Rebuilding Accountability and Trust

The grassroots blowback against the Bush Administration’s proposed Wall Street bailout is rooted in deep distrust. Americans recognize the need to act on our current crisis but detest the idea that ordinary taxpayers should bear the brunt of bailing out the kingpins of Wall Street.

The following program, if incorporated into the bailout, could far better address our current problem’s root causes and restore trust and confidence in our economic system.

Program Basics:

• Fund a green stimulus for the real economy
• Restructure mortgages for families put at risk by predatory lenders
• Make Wall Street speculators pay for the bailout
• Shut down the global casino: Assert real oversight of financial markets
• Limit CEO pay and prohibit profiteering from the bailout