3. PBGC (guarantee/backstop for retirees and their money)
4. Money-market accounts under the FDIC like they have already done.
5. A fund that will help the insurance companies pay out regular property and casualty claims to citizens.
I think the large financial institutions can be taken over completely, with all existing and future potential profits staying with the govt (wind-down, and do NOT spin-off into the private market when it’s profitable again).
And the most important thing of all is to investigate all the regulators, ratings agencies, and executives/directors of the large financial institutions, politicians and others who enabled and encouraged this to happen in the first place. The Federal Reserve should be at the top of that list. ALL of their assets should be seized (overseas accounts, accounts held in family/friends names, homes, cars, yachts…EVERYTHING) to pay for all the damage they’ve done. This should be done BEFORE a single cent of taxpayers’ money is used.
Why do we hear about all the investigations into short selling when the real criminals are right under their nose (those who pushed the credit market to expand like it did).
