1. DO NOT SCREW with Mark-to-Market Accounting Rules. For more information, click here http://www.marktomarketdebate.com/
2. Nationalization does not mean the end of capitalism. Traders, investors and Rich People alike – don’t worry, we’re not going to take your riches and give them to the poor just yet. But, we do need a third party – I certainly do not trust any banker to set the value of their assets to the correct market price. So, who is that third party? Yes – it’s Geithner and the Administration. OK boys, it’s time to play ball – stop whining about how bad Geithner and Obama are, and stop playing party politics (hey, your guy Bushie kinda started this whole thing, remember?) Stop killing the market with your fear of nationalization.
3. The CEO of Citibank (any bank that isn’t failing) and the stock trader who has lost money in the markets are not the same as the guy who lost his job and can’t figure out how to send his daughter to college (or are they?) – and they don’t hurt the same. It’s time to think of this holistically, nationally and ultimately globally. It ain’t about you, and it ain’t about me. It’s about everyone.
4. Madoff, Stanford and the others (Thain too) must go to jail. There must be a “public hanging” of some sort – and the best way to do that is to see them punished, rightly and justly, as we move forward. Remember, at the end of the day, it really is about action and reaction or consequence. They bankrupted many people, and could have had a direct impact into the financial bubble of the past few years. They should be punished. All of ’em. It is the way humans can cognitively see justice happen, and feel better about moving forward. If they don’t then we go deeper into this hole, as I will feel personally shafted against, and played for a fool. There must be consequences. If the people are paying the consequences – and we are: layoffs, loss of retirement funds, trillion dollars lost out of the economy – then these people better pay the consequences too. And for them, it is jail.
5. Hope. Clinton is right, we must be hopeful. Obama needs to use his eloquence and pump up the “hope”, “change we can believe in”, “yes we can” mantras of last November. We can fix the economy, we can tackle all these issues, but we must also deal with the psychological aspect of fear that is rampant right now. C’mon Obama. We elected you for a reason. Be straight with us, and lead us into the future. The only way out of this mess is with the future, our innovations of the American people. Point us away from the misdeeds from yesterday, and lead us towards the future.