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Re: Jim Cramer of MSNBC Predicts a Great Depressio
Quote:
Originally Posted by RandyWayne
Solution in 2 parts:
1) Cut the capital gains by at LEAST half
2) Start immediate and aggressive domestic oil exploration and drilling
Simplistic? Not at all.
Oh yes, you would also need to remove the legislation written in the 90's that DEMANDED that financial institutions write a certain % of "bad loans" in the name of affirmative action (the laws that started this whole mess in the first place!).
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You are correct in everything but the numbers.
Number 1 should be the end of Fannie Mae and Freddie Mac as quasi-government enterprises. Sell them to private industry and remove the treasury guarantee, or eliminate shareholders and competitive executive pay. Pass a constitutional amendment banning business schemes that privatize profits and nationally socialize losses.
Somewhere in there ought to be jail sentences for those that lobbied on behalf of F&F, those that blocked needed reforms in committee in 2005, and those that habitually accepted money from them and protected them.
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Engineering solutions for theological problems.
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