Sunday, September 21, 2008

My bailout plan -OR- Spin the wheel; win a prize

Pick 700,000 taxpayers at random. Criteria: filed on April 15th 2008, received tax refunds of $5000 or less and had their refund electronically deposited. Deposit $1,000,000 into each of their accounts, but put a hold on the funds.
Give the recipient list to Secretary Paulson and let him go try to borrow the funds from them. He can explain the emergency and sell them individually as to how this is their patriotic duty. He can negotiate terms, interest rate and repayment schedules.

At this point I would put more faith in the financial acumen of 700,000 of the working poor, than the crush of experts who are calling this bailout a stroke of genius.

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