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In a Rolling Stone's article Naomi Klein points out that the UK's prime minister, Gordon Brown, also constructed a bailout plan but there are marked differences that we should pay attention to, as he extracted meaningful guarantees for taxpayers:

1. voting rights at the banks,
2. seats on their boards,
3. 12 percent in annual dividend payments to the government,
4. a suspension of dividend payments to shareholders,
5. restrictions on executive bonuses, and
6. a legal requirement that the banks lend money to homeowners and small businesses.

"In sharp contrast, this is what U.S. taxpayers received: no controlling interest, no voting rights, no seats on the bank boards and just five percent in dividend payouts to the government, while shareholders continue to collect billions in dividends every quarter. What's more, golden parachutes and bonuses already promised by the banks will still be paid out to executives ? all before taxpayers are paid back."

Would love to get reaction from the NPR investigative journalists you have on your panel.

posted 4 years, 7 months ago
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