Financial Industry Bailout Plan Needs To Protect Taxpayers

Source: Economic Policy Institute, Policy Memorandum #128, September 22, 2008

The financial market meltdown is clearly threatening the U.S. economy and requires prompt action, but the proposal offered by Treasury Secretary Paulson is fundamentally flawed. In a new Policy Memo, EPI economists recommend a series of fixes that will protect taxpayers, aid workers and home owners, lay the foundation for real economic growth, and ensure that those who are bailed out do not enrich themselves further with excessive salaries and benefits.

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