The Savannah paper has a breakdown of the Senate candidates’ plans for the bailout.
Jim Martin’s is interesting:
Payment to mortgage borrowers. Rather than giving tax money to investment companies and banks, Martin would target homeowners who have suffered foreclosure or are in danger of it, saying the price would be the same as giving the money to Wall Street.
I’m opposed in general to the bailout plan, but I understand those who do support it. What is interesting, however, is this alternative plan put forward by some left of center economists. The Paulson plan is designed to deal, at its heart, with the credit crisis. There is a real fear that people won’t be able to cash paychecks by the end of the week because of it.
The alternative plan, giving money to mortgage borrowers, would not even touch the problem, but would most assuredly be more popular with the public because the government would be paying their mortgages for them.