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A -- -- this next guy Ralph Nader did see a lot of this financial mess coming.
But Nader isn't exactly -- -- of the solutions he's hearing out of the presidential candidates.
All the presidential candidates except hand.
And it once again making an independent bid for the White House and he thinks his ideas for solving these kinds of crises.
Could make that a reality brothel is good to have -- -- Thank you you know what do you think of this we got this big -- than me the government to come in and clean up this big -- what what do we do.
Well and why it happened obviously deregulation the federal cup was taken off the corporate beat -- Wall Street.
Lack of disclosure to investors number two.
There -- a lot of deception involved in cover ups these complex financial instruments.
And third the investors are given any authority.
The the owners of these corporations basically.
-- can't control the top bosses in -- overpaid.
Compensation packages though that's very very deadly combination.
Do you worry but you're wearing -- that the cure could be worse than disease -- when the government -- involved whether it's Resolution Trust Corp.
gifts and house.
-- go on and on that they make things worse because they're not -- -- at handling books -- -- you know.
Nothing could review worsen the collapse of Wall Street for this economy you know -- -- from conventional standards you know.
Here we have socialists Superman sweeping in from Washington.
To -- -- casino capitalists and Wall Street.
And Wall Street keeps spewing forth more Kryptonite that they look hero.
First off for the long term you've got to have investor power as Ben Stein and Bob monks and others who pointed out right many years you've got to have.
What they call transparency.
You've got to have regulation gonna -- law and order that's what FDR did to save the banks that's what other presidents have done now for the media what do you do right now.
Number one any bailout has -- certain conditions one public hearing.
To know golden parachutes or get out -- jail cards for fleeing the executives okay.
Three you've got to have a a reciprocity.
In other words when they bailed out Chrysler.
In the late seventy's it was a a billion and a half dollar loan guarantees pretty -- by today's standards unveil the Treasury Secretary Miller.
Under Jimmy Carter said the Chrysler.
We're going to bail you out but number one.
You're gonna have to produce more fuel efficient cars number two you've got to put some money into the labor trust fund for your workers.
And number three we're gonna if you we're gonna get -- wars so they got stock warrants treasury stock warrants owning part of Chrysler.
And guess what.
Chrysler recovered under Lee Iacocca and the taxpayer got 400 million dollars.
-- -- raised a little not say what you raise a very good point because that loan was paid back.
Almost a year early with the interest and in Iraq.
But wanted to have been even allowing for time and inflation is nothing like there -- hundreds of billions are talking around now are the number is so large drop that.
We just say no -- we just give up because just to crazy I mean what little they get this out of control.
There's almost nothing the government can or even should do at this point -- it's like you.
Let on and on.
And none -- you can't do that because but that's the next few hasn't fallen from the bankruptcy of Lehman I mean that.
The government bailed out Bear Stearns which is less and half of Lehman saying it would produce a Domino's effect.
The -- their solar energy companies that are affected because of -- And these debentures so here's here's what we've got to do -- this is why the Nader Gonzalez campaign is sold -- to get hurt in this country I've been doing this corporate crime.
Criticism and -- challenging for forty years so.
It's I'm glad that -- give me some time here the important thing is this.
If these firms are collapse.
The first thing the government can do is arrange for takeovers -- Bank of America took over Merrill Lynch.
-- will Barkley take over the investment part of the -- There are huge companies overseas including in China who would like a piece of Wall Street now that prevents a taxpayer -- out.
It protects the common shareholder in other words you're saving efforts to prevent.
The -- from ever having to be done.
Exactly and halve point is so the way they bailed out Fannie and Freddie that was ridiculous.
Apparently gave a huge -- to the taxpayer and are better ways to do it -- -- to be continued.
To be continue Ralph I always enjoy having you on thank you very much and I just know that I did there.
The independent presidential candidate -- what.
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