The government bailout of the big Wall Street banks has yet to pass. Congress is holding out because they just can’t agree on the terms of the bailout. Unfortunately, with every day that passes these banks get closer and closer to failure, and Bank of America can only buy so many of them.
So, if I could make the terms of the bailout, I would make sure that NO executive of any of the bailed out companies would receive any sort of super bonus for leaving the company.
Also, i would like to see legislation passed in the bailout that would prevent any of the banks from holding enough of the market share to collapse the entire financial system.
Another plus is for everyone who willingly and knowingly issued a sub prime mortgage be convicted of some kind of crime. If nothing else, some should be charged with falsifying documents.
If the bailout is passed, hopefully the money will be given to a bipartisan group to decide where the money goes rather than just Paulson.