Alternative Solutions to the ‘Financial Crisis’

Christopher Ketcham : Let It Collapse! – CounterPunch 9/22/08

Paul Craig Roberts : A Possible Solution to the Economic Crisis – CounterPunch 10/10/08

Memo To US Government: Five Ways To Fix The Housing Industry – Treehugger 10/7/08

Let’s Just Say You Had $700 Billion to Spend – Alternet 10/9/08

A look at what we could do instead with $700 billion to spend fixing up our world.

The End of American Capitalism? 5 Economists Explain Where They Think the Financial Crisis Is Headed – Alternet 10/7/08

Five prominent economists with differing views share their thoughts on what’s happening and how bad the situation really is.

Is it Time to Rethink State-Ownership of Corporations? – Alternet 10/6/08

Five Alternative Bailout Plans – Mother Jones 9/26/08

Paulson: Mother of All Bail Outs Deserves Mother of all Convictions – Implode Explode 9/23/08

How about RICO-type actions and indictments, instead of buy-out and burying of the evidence?

Tax the Speculators: A Fair Plan for Economic Recovery – Alternet 9/22/08

Nobel winner: 6 ways to fix Wall Street – CNN 9/17/08

How to Save the U.S. Economy – Global Research 10/10/08

[Richard C. Cook is a former U.S. federal government analyst, whose career included service with the U.S. Civil Service Commission, the Food and Drug Administration, the Carter White House, NASA, and the U.S. Treasury Department.]
Following is the “Cook Plan”:
  1. Non-taxable vouchers should be issued at the rate of $1,000 per month per adult and $500 per month per child which may be used for food, housing, fuel, communications media, utilities, and educational services provided at outlets within the U.S. Distribution of vouchers may be delegated to state and local governments.
  2. Vouchers will be deposited by service providers and vendors only in a new network of local chartered savings banks—one for each county in the U.S. Deposits will be made to the bank in the county of the local point-of-sale.
  3. Banks will lend locally at zero-percent interest using voucher deposits as capitalization. The banks may create loans at a 1:10 reserve ratio with borrowers paying administrative fees only. Borrowers must provide a 20% down payment as collateral or purchase default insurance at 2% of the loan principal.
  4. Lending will be made only to business entities, including family or commercial farms, operating from an established location within the county. 

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