Comments on: A Viewer’s Guide for the G7 (Crisis) Meeting Today http://baselinescenario.com/2008/10/10/a-viewers-guide-for-the-g7-crisis-meeting-today/ What happened to the global economy and what we can do about it Fri, 10 Feb 2012 23:19:23 +0000 hourly 1 http://wordpress.com/ By: Secondary Sources: G-7 Meeting, Crisis, Recapitalizing Banks | Wall Street http://baselinescenario.com/2008/10/10/a-viewers-guide-for-the-g7-crisis-meeting-today/#comment-775 Thu, 06 Nov 2008 20:19:34 +0000 http://baselinescenario.wordpress.com/?p=451#comment-775 [...] to be decisive. It needs to be global. The stakes could not be higher.” Simon Johnson on the Baseline Scenario blog offers a viewers guide. “Here are three things to look for: 1. The extent of recriminations. [...]

]]> By: S Mitchell http://baselinescenario.com/2008/10/10/a-viewers-guide-for-the-g7-crisis-meeting-today/#comment-165 Sun, 12 Oct 2008 05:59:15 +0000 http://baselinescenario.wordpress.com/?p=451#comment-165 1. Close the markets – freeze them

1.5 Congress get to work!

2. Pass legislation that no business with consistently good credit can be refused credit – either from banks or from Fed

2.5 The $700,000,000,000 must be used for people, not institutions – to cover deposits and mortgage assistance

3. No money to investment banks. You risked, you lose.

4. Stop banking mergers. This allows poorly positioned large banks to siphon off funds of smaller banks merged into them.

5. Legislate usury laws. No one should have to pay more than 15% interest.

6. Freeze foreclosures for single family homes. Speculators get to lose and so do those who enabled them. Tough Love!

7. Freeze cash holdings of banks to cover depositors. If the bank is short, divide the cash by depositors and pay them. The FDIC will have to cover the rest according to rules. Pay out can be over time; however, no depositor can be denied enough funds/month to cover expenses thus risking their own mortgage payments and credit standing.

It seems simple to me. Shore up the foundation of the economy – the people and businesses in good standing.

The market economy and the private investors will have to clean up the rest of the mess.

People shouldn’t suffer for the irresponsible behavior of high rollers betting billions WITH NO MONEY!

GET REAL! The G7 isn’t going to buy in to pouring money into sinking ships!

]]> By: Wall Street Journal » Blog Archive » Secondary Sources: G-7 Meeting, Crisis, Recapitalizing Banks http://baselinescenario.com/2008/10/10/a-viewers-guide-for-the-g7-crisis-meeting-today/#comment-140 Sat, 11 Oct 2008 02:55:14 +0000 http://baselinescenario.wordpress.com/?p=451#comment-140 [...] to be decisive. It needs to be global. The stakes could not be higher.” Simon Johnson on the Baseline Scenario blog offers a viewers guide. “Here are three things to look for: 1. The extent of recriminations. [...]

]]> By: Real Time Economics : Secondary Sources: G-7 Meeting, Crisis, Recapitalizing Banks http://baselinescenario.com/2008/10/10/a-viewers-guide-for-the-g7-crisis-meeting-today/#comment-121 Fri, 10 Oct 2008 13:04:14 +0000 http://baselinescenario.wordpress.com/?p=451#comment-121 [...] to be decisive. It needs to be global. The stakes could not be higher.” Simon Johnson on the Baseline Scenario blog offers a viewers guide. “Here are three things to look for: 1. The extent of recriminations. [...]

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