On Mar 17, 2008, at 6:11 PM, Shane Taylor wrote:
> Agreed, but what populist eruption would you like to
> see? What wouldn't be premature?
We're going to spend public money on this (the Fed's actions so far aren't really expenditures in that sense, though they do put its balance sheet at risk). So we should get something in return - a better-regulated, more equitable financial system, with new experimental institutions, like nonprofit and cooperative banks. And on the other end, new forms of ownership, like limited equity arrangements, in return for the rescue of mortgagors.
Doug