I believe that we all agree that the financial crisis is caused by greedy, irresponsible and in many occasions incompetent banks and bankers.
Their actions caused misery around the world and cost trillions in bailout money and millions of unemployed people
Its funny they caused all this mayhem and suffering and they still have t he tenacity and arrogance to give advice on how to exit from the pit hole they put us in. it is outrageous, but I don’t blame them, they are simply arrogant assess, I blame those who listen to them, tolerate them and giving them trillions and at the same time they continue to layoff people and continue foreclosing on people homes.
I have a radical proposal not to solve the problem but to alleviate its consequences.
1. Any bank wishing to receive taxpayers money should agree on salary cap on all its executives.
2. Not any kind of bonus shall be given
3. No dividends shall be distributed
4. Limit on layoffs shall be imposed
Moreover a moratorium on foreclosures should be agreed and with legal measures make foreclosures difficult and the default period prior to a foreclosure to be substantially extended.
July 16th, 2009 at 1:46 pm
Banks??? a world of delusion, with intentional actions.