[quote=CA renter]I’ve always favored some type of government action, mostly in the form of WPA-type programs, and increasing funding for R&D in energy, healthcare, and transportation technology. I’ve also suggested that the government fully back the FDIC, SIPC, PBGC, and possibly other pension programs (but only up to the previous limits).
In other words, cover those who were prudent, and who didn’t have anything to do with causing the “financial crisis,” and try to keep unemployment as low as possible during the deleveraging period. Fix the *cause* of the crisis, while trying to mitigate the damage to those who were not directly involved in the mortgage/credit market. Mortgage borrowers and lenders (and those who traded related securities) are NOT in this “protected” group.
What I do not approve of are the bailouts of the very people who got us into this mess. This cannot be stated emphatically enough.[/quote]
