The economy is teetering on the abyss, and President Bush has to figure out what to do. Well, I've figured it out so he gets the benefit of my advice: Jail.
The slammer, the clink, lockup... I don't care what you call it, but one of these multi-million-dollar-stealing crooks has got to go to jail.
One? What am I talking about? Dozens have to go to jail. Their money has to be taken away and put back into the pension funds of those who lost everything when the stock these guys manipulated crashed.
Broke and in prison — that's the ticket. That's the medicine for what ails us today. Put a bunch of these high flyers in prison and take away their money. Then and only then will the American public feel it is safe to put their money back in the stock market.
I was in Texas last week, and I talked to a banker who was flabbergasted at what was going on at his bank. He put a little ad in the paper… he called it buying money. He's offering 3.5 percent interest, and says that people are coming to him with buckets full of money. Buckets.
Now why are people falling all over themselves to get 3.5 percent? Because if they leave it in the market, the interest will be zero. The capital will be gone, and some crook will go running around sanctimoniously claiming that everyone knows that the market involves risk.
The markets can be extremely powerful wealth machines, but only if people have confidence and actually put their money in them.
The way things are… it's like asking a known crook to guard your nest egg for you.
Do we all look nuts? Why would we do that? Until Sheriff Bush puts a bunch of these crooks in jail, and takes their millions out of the bank to give back to the people who've been ripped off... nobody's going near that market.
Put 'em in the slammer, Mr. President. The sooner, the better.
That's My Word.
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