The Mudcat Café TM
Thread #118350 Message #2557563
Posted By: Q (Frank Staplin)
04-Feb-09 - 09:43 PM
Thread Name: BS: $500,000 cap
Subject: RE: BS: $500,000 cap
Laura Rowley, article "Is your spending immune to 'social contagion'?," estimated that the top one percent of Americans received $1.1 million or more in 2005. I can't verify that, but U. S. income tax statistics are hard to for me to interpret. 1.7 million Americans received $250,000 or more according to the tax figures I could find.
"Bailout"- It really is a first step towards restructuring, with partial government ownership of financial institutions and major businesses. All the EU countries, and China, Japan, Russia, etc. are in the same boat. All are pouring their own billions into the attempt at stabilization. Intergovernmental cooperation is needed as never before. If it doesn't happen, collapse is possible.