Its the Regulations Stupid!

The US Government is considering bailouts for Wall Street Firms and even some foreign banks. Current Cost...$700 Billion. Look for that price tag to go up before the bill passes. While this bailout may be necessary it is also an opportunity.

The Bush Administration is out to maintain some sort of legacy. They do not want to go down in history as the modern era equivalent of Herbert Hoover. Not to mention Democrats that want to push Obama into 1600 Pennsylvania Ave., not to mention their goal of a Filibuster proof Senate Majority. Everything is on the table, Dems have the upper hand.

I have my 7 condidtions for a bailout and they are:

1. End Short Selling, While it is an easy way into the markets it is not worth the problems it causes.
2. Create a 4, 6, or 8 person council to decide who gets bailed out and how much money they get. This council must have an even number of members. Included on this board must be the Chairs of the House and Senate Banking Committee, Secretary Paulson, and the Ranking member of the Senate Banking Committee. They must agree in order to bailout. The Council only has a lifespan of 6-months.
   
3. The bailout must include aid and a restruturing plan for firms and in trouble households. Allow Local Courts to restructure loans from bailed out firms.
   
4. The Government must recieve a fair value in shares of companies bailed out. Said number of shares must be a condition of the bailout.
5. The Government must disclose who is being bailed out, why, and all of the terms of the bail out.
6. CEO's of bailed out companies cannot recieve pay or severence packages exceding $300,000
7. THERE MUST BE A COMPLETE OVERHAUL OF THE REGULATORY SYSTEMS FOR THE FINANCE INDUSTRY and any other industry in need of major government assistance.
   

I don't like the idea of a bailout but otherwise we risk turmoil. Oh and one more thing, NO BAILOUTS OF FORIEGN FIRMS!!!