Screw Paulson - Make Nader Wall Street Czar. +Poll

Screw Paulson - Make Nader Wall Street Czar. +Pollby CheeseMooseMon Sep 22, 2008 at 05:35:56 PM PDTOk, you may not want to vote for him for president. You may still hold a grudge against him for running in 2008 (although blaming him for Gore's 2000 loss is like blaming Steve Barton for the Cubs' collapse in '03). But who's been righter about Wall Street all these years than Ralph Nader? He certainly makes more sense than Hank Paulson. Why let one of the main designers of the Titanic be in charge of the rescue? Nader's been warning about just this event for at least the last 10 years, if not more.I know people on this site will greet this proposal with scorn. But the fact is, if Nader had been president, this whole fiasco could have been avoided.And even if you're a dyed-in-the-wool anti-Naderite, you've got to admit that the thought of Wall Street CEO's having to go see Ralph hat-in-hand to bail them out of this mess is nothing short of delicious.Nader's prescription after the jump. * CheeseMoose's diary :: ::* No bailouts without conditions and reciprocity in the form of stock warrants. No more lobbying for any company that is bailed out. No golden parachutes or get-out-of-jail-free cards for guilty executives. No bailouts without public hearings. Reduce the moral hazard in U.S. mortgage markets by introducing covered bonds for the majority of mortgage products, as is done in Western Europe. That gives institutions that finance mortgages an incentive to be prudent, because they cannot just unload them and wipe their hands clean of the liability, but are instead on the hook if the homeowner defaults. Maintain neighborhood stability and housing security by passing a law with a sunset clause allowing below-median-value homeowners facing foreclosure the right to “rent to own” their homes at fair market value rates. Avoid future housing bubbles by removing implicit government guarantees for new mortgages that exceed thresholds of greater than 15 to 20 times the annual fair market rent value of the home. Make the Federal Reserve a Cabinet position, so it is accountable to Congress, as well as make sure all Federal Reserve Bank presidents are appointed by the president and answerable to Congress. Reduce conflicts of interest by taking away power for auditor and rating agency selection from companies and placing it in the hands of the SEC to be administered on random assignment. Implement a securities speculation tax, starting with derivatives, to deter casino-style capitalism.Now that sounds a little more like it.Whaddya say? How about Ralph Nader for Wall Street Czar?PollWho'd make the best Wall Street Czar? Ralph Nader39% 51 votes Dennis Kucinich6% 8 votes Hank Paulson0% 0 votes Alan Greenspan0% 0 votes Jim Cramer1% 1 votes Warren Buffet22% 28 votes Michael Bloomberg4% 5 votes Hillary Clinton2% 2 votes Robert Rubin4% 5 votes Paul Krugman11% 14 votes Ross Perot4% 5 votes Other8% 11 votes| 130 votes | Vote | ResultsTags: Ralph Nader, Wall Street Bailout, Hank Paulson (all tags) :: Previous Tag Versions

Daily Kos: Screw Paulson - Make Nader Wall Street Czar. +Poll

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