April 14, 2012
A MODEST PROPOSAL: Sheila Bair: Fix Income Inequality With $10 Million Loans For Everyone! “Under my plan, each American household could borrow $10 million from the Fed at zero interest. The more conservative among us can take that money and buy 10-year Treasury bonds. At the current 2 percent annual interest rate, we can pocket a nice $200,000 a year to live on. The more adventuresome can buy 10-year Greek debt at 21 percent, for an annual income of $2.1 million.”
It makes as much sense as what we’re doing now, which is the point.