by Rep. Dennis Kucinich
Washington, Sep 22, 2008
Kucinich Announces Plan for Ownership Society
Congressman Dennis Kucinich D-OH today made the following statement announcing a plan for a new Ownership Society:
“The Wall Street financial disaster is an opportunity to create a genuine ownership society. If Congress invests $700 billion in the market, then the American people must get something of real value for their investment.
“Simply purchasing bad debt, “cash for trash” and not receiving anything of value or giving $700 billion and not having a commensurate equity interest in Wall Street firms is unacceptable. No “cash for trash”.
“Since the bailout will cost each and every American about $2,300, tomorrow I will offer legislation to create a United States Mutual Trust Fund, which will take control of $700 billion in stock assets, at market value and not higher, convert those assets to shares, and distribute $2,300 worth of shares to new individual savings accounts in the name of each and every American.”
Kucinich arrived at the $2,300 figure by dividing the cost of the bailout $700 billion by the US population over 300 million.
YouTube’s Cutest Animals
Write Your Representative:
FAIR USE NOTICE: This blog may contain copyrighted material. Such material is made available for educational purposes, to advance understanding of human rights, democracy, scientific, moral, ethical, and social justice issues, etc. This constitutes a ‘fair use’ of any such copyrighted material as provided for in Title 17 U.S.C. section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission from the copyright owner.