Posted by
Stefano on Tuesday, September 23, 2008 2:37:20 PM
From Human Events comes a report on a new proposal by a Republican study group released this afternoon. It includes:
1. A temporary suspension of capital gains taxes,
2. A transition of Fannie and Freddie to truly private corporations,
3. Stabilization of the dollar, and
4. Suspension of "mark to market" accounting rules for financial firms holding securities collateralized by real estate.
What are the chances of this proposal being adopted? My guess would be slim to none with the Democrats and rinos viewing the transition to socialism finish line a short distance ahead of them. The nationalization of the financial system is now within their reach and they will not go away quietly. At least this presents a conservative voice in the ongoing debate and may provide a counterpoint to the populist nonsense coming from the left.
How the Crisis was Created
Read the article at the following link, then watch the video.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSKSoiNbnQY0
Democrats including Obama, Dodd, and Clinton opposed regulation that would have prevented the recent financial meltdown. Ignore their goofy talking points on this issue and pass the word.