must read: U.S. needs Swedish Version of the Bailout, if any

[amborin]

<http://www.nytimes.com/2008/09/23/business/worldbusiness/23krona.html?_r=1&scp=1&sq=bailout%20and%20sweden&st=cse&oref=slogin>

[amborin]

1. in the Swedish version

if conditions improve, ordinary taxpayers at least get some returns

not the case in the proposed U.S. version.....

[BzaDem]

2. It isn't?

I thought we were buying the assets. If we buy the assets, and conditions improve, that would almost certainly mean that the value of the assets would go up (helping the taxpayers).

[amborin]

3. no

in the swedish version, the gov and taxpayers are actually getting some share of the equity

but not in the US version

we get no share in the equity

so we have no ownership

[amborin]

4. no equity in the banks, for U.S. citizens

"A few American commentators have proposed that the United States government extract equity from banks as a price for their rescue. But it does not seem to be under serious consideration yet in the Bush administration or Congress.

The reason is not quite clear. The government has already swapped its sovereign guarantee for equity in Fannie Mae and Freddie Mac, the mortgage finance institutions, and the American International Group, the global insurance giant.

Putting taxpayers on the hook without anything in return could be a mistake, said Urban Backstrom, a senior Swedish finance ministry official at the time. “The public will not support a plan if you leave the former shareholders with anything,” he said."

[Hope And Change]

5. K & R!

[Gasping4Truth]

6. LEGISLETIFE PROPOSEL FOR TREESOoRY EOoTHORITY

LEGISLETIFE PROPOSEL FOR TREESOoRY EOoTHORITY

TO POoRCHESE MORTGEGE-RELETED ESSETS

Secshun 1. Shurt Teetle-a.

Thees Ect mey be-a ceeted es ____________________.


Sec. 2. Poorcheses ooff Murtgege-a-Releted Essets.

(a) Oothureety tu Poorchese-a.--Zee Secretery is oothureezed tu poorchese-a, und tu meke-a und foond cummeetments tu poorchese-a, oon sooch terms und cundeeshuns es determeened by zee Secretery, murtgege-a-releted essets frum uny feenunciel insteetooshun hefeeng its heedqooerters in zee Uneeted Stetes.

(b) Necessery Ecshuns.--Zee Secretery is oothureezed tu teke-a sooch ecshuns es zee Secretery deems necessery tu cerry oooot zee oothureeties in thees Ect, incloodeeng, veethuoot leemiteshun:

(1) eppueenting sooch impluyees es mey be-a reqooured tu cerry oooot zee oothureeties in thees Ect und deffeening zeeur dooteees;

(2) intereeng intu cuntrects, incloodeeng cuntrects fur serfeeces oothureezed by secshun 3109 ooff teetle-a 5, Uneeted Stetes Cude-a, veethuoot regerd tu uny oozeer prufeesiun ooff lev regerdeeng poobleec cuntrects;

(3) deseegneting feenunciel insteetooshuns es feenunciel egents ooff zee Gufernment, und zeey shell perffurm ell sooch reesuneble-a dooteees releted tu thees Ect es feenunciel egents ooff zee Gufernment es mey be-a reqooured ooff zeem;

(4) istebleeshing feheecles thet ere-a oothureezed, soobject tu sooperfeesiun by zee Secretery, tu poorchese-a murtgege-a-releted essets und issooe-a oobleegeshuns; und

(5) issooeeng sooch regooleshuns und oozeer gooeedunce-a es mey be-a necessery oor epprupreeete-a tu deffeene-a terms oor cerry oooot zee oothureeties ooff thees Ect.


Sec. 3. Cunseedereshuns.

In ixerceesing zee oothureeties grunted in thees Ect, zee Secretery shell teke-a intu cunseedereshun meuns fur--

(1) prufeeding stebeelity oor prefenteeng deesroopshun tu zee feenunciel merkets oor bunkeeng system; und

(2) prutecteeng zee texpeyer.


Sec. 4. Repurts tu Cungress.

Veethin three-a munths ooff zee furst ixerceese-a ooff zee oothureety grunted in secshun 2(a), und semeeunnooelly zeereeffter, zee Secretery shell repurt tu zee Cummeettees oon zee Boodget, Feenunciel Serfeeces, und Veys und Meuns ooff zee Huoose-a ooff Representeteefes und zee Cummeettees oon zee Boodget, Feenunce-a, und Bunkeeng, Huooseeng, und Urbun Effffeurs ooff zee Senete-a veet respect tu zee oothureeties ixerceesed under thees Ect und zee cunseedereshuns reqooured by secshun 3.


Sec. 5. Reeghts; Munegement; Sele-a ooff Murtgege-a-Releted Essets.

(a) Ixerceese-a ooff Reeghts.--Zee Secretery mey, et uny teeme-a, ixerceese-a uny reeghts receeefed in cunnecshun veet murtgege-a-releted essets poorchesed under thees Ect.

(b) Munegement ooff Murtgege-a-Releted Essets.--Zee Secretery shell hefe-a oothureety tu munege-a murtgege-a-releted essets poorchesed under thees Ect, incloodeeng refenooes und purtffuleeu reesks zeereffrum.

(c) Sele-a ooff Murtgege-a-Releted Essets.--Zee Secretery mey, et uny teeme-a, upun terms und cundeeshuns und et preeces determeened by zee Secretery, sell, oor inter intu secooreeties luuns, repoorchese-a trunsecshuns oor oozeer feenunciel trunsecshuns in regerd tu, uny murtgege-a-releted esset poorchesed under thees Ect.

(d) Eppleeceshun ooff Soonset tu Murtgege-a-Releted Essets.--Zee oothureety ooff zee Secretery tu huld uny murtgege-a-releted esset poorchesed under thees Ect beffure-a zee termeeneshun dete-a in secshun 9, oor tu poorchese-a oor foond zee poorchese-a ooff a murtgege-a-releted esset under a cummeetment intered intu beffure-a zee termeeneshun dete-a in secshun 9, is nut soobject tu zee prufeesiuns ooff secshun 9.


Sec. 6. Mexeemoom Emuoont ooff Oothureezed Poorcheses.

Zee Secretery’s oothureety tu poorchese-a murtgege-a-releted essets under thees Ect shell be-a leemited tu $700,000,000,000 ooootstundeeng et uny oone-a teeme-a


Sec. 7. Foondeeng.

Fur zee poorpuse-a ooff zee oothureeties grunted in thees Ect, und fur zee custs ooff edmeenistering thuse-a oothureeties, zee Secretery mey use-a zee pruceeds ooff zee sele-a ooff uny secooreeties issooed under chepter 31 ooff teetle-a 31, Uneeted Stetes Cude-a, und zee poorpuses fur vheech secooreeties mey be-a issooed under chepter 31 ooff teetle-a 31, Uneeted Stetes Cude-a, ere-a ixtended tu incloode-a ecshuns oothureezed by thees Ect, incloodeeng zee peyment ooff edmeenistretife-a ixpenses. Uny foonds ixpended fur ecshuns oothureezed by thees Ect, incloodeeng zee peyment ooff edmeenistretife-a ixpenses, shell be-a deemed epprupreeeted et zee teeme-a ooff sooch ixpendeetoore-a.


Sec. 8. Refeeoo.

Deceesiuns by zee Secretery poorsoount tu zee oothureety ooff thees Ect ere-a nun-refeeooeble-a und cummeetted tu egency deescreshun, und mey nut be-a refeeooed by uny cuoort ooff lev oor uny edmeenistretife-a egency.


Sec. 9. Termeeneshun ooff Oothureety.

Zee oothureeties under thees Ect, veet zee ixcepshun ooff oothureeties grunted in secshuns 2(b)(5), 5 und 7, shell termeenete-a tvu yeers frum zee dete-a ooff inectment ooff thees Ect.


Sec. 10. Increese-a in Stetootury Leemit oon zee Poobleec Debt.

Soobsecshun (b) ooff secshun 3101 ooff teetle-a 31, Uneeted Stetes Cude-a, is emended by streeking oooot zee duller leemiteshun cunteeened in sooch soobsecshun und inserteeng in leeeoo zeereuff $11,315,000,000,000.


Sec. 11. Credeet Reffurm.

Zee custs ooff poorcheses ooff murtgege-a-releted essets mede-a under secshun 2(a) ooff thees Ect shell be-a determeened es prufeeded under zee Federel Credeet Reffurm Ect ooff 1990, es eppleeceble-a.


Sec. 12. Deffeenishuns.

Fur poorpuses ooff thees secshun, zee fullooeeng deffeenishuns shell epply:

(1) Murtgege-a-Releted Essets.--Zee term “murtgege-a-releted essets” meuns reseedentiel oor cummerceeel murtgeges und uny secooreeties, oobleegeshuns, oor oozeer instrooments thet ere-a besed oon oor releted tu sooch murtgeges, thet in iech cese-a ves ooreegineted oor issooed oon oor beffure-a September 17, 2008.

(2) Secretery.--Zee term “Secretery” meuns zee Secretery ooff zee Treesoory.

(3) Uneeted Stetes.--Zee term “Uneeted Stetes” meuns zee Stetes, terreeturies, und pussesseeuns ooff zee Uneeted Stetes und zee Deestrict ooff Culoombeea.

Bork Bork Bork!

[Douglas Carpenter]

7. now that would be change I could believe in - RECOMMENDED!! EXCELLENT POST!!!

[amborin]

8. do U.S. citizens know they'd be screwed with the current plan?

whereas the Swedish plan gives them equity shares in whatever they bail out

so they are shareholders