Alternative Solution To US Financial Crisis: De Fazio’s NO BAIL OUT BILL
Oct 03, 2008 in You think so
No it’s not a bill sponsored in congress by a character from a situation comedy it’s sponsor is Peter De Fazio from the Fourth Congressional District in Oregon.
In a message to his colleagues in the House of Representatives De Fazio quotes Simon Johnson, a former chief economist of the International Monetary Fund who said in the New York Times of Paulson’s plan, “Our view that this package, in a fundamental sense, will not solve the problem.”
Representative De Fazio then stated:
“We have credible alternatives to the Paulson/Bush $700 billion gamble. William Isaac, the chairman of the FDIC during the previous worst financial crisis in the United States during the 1980s, believes (more…)
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