Marcy Kaptur, a democratic congresswoman from Ohio, captures the essence of the current $700 bailout plan, while speaking on the floor of the House.
In other news, it appears Paulson isn't quite so determined to avoid oversight as his original plan might have suggested.
Since both dems and repubs are opposed to this plan, the question continues to nag: what are these horrible consequences if the plan is not approved? It's hard not to consider this a standard Bush tactic of scare and emergency as many have pointed out. Indeed, some question whether there is an actual emergency: certainly the Bush Admin didn't put together this plan in a day. Given, however, that Warren Buffet supports the plan, the rest of us figure that Wall Street has royally screwed this up to the point that they need help, but are wondering if Paulson's history as part of the problem make him well suited to be the unquestioned dictator of the solution. Certainly, the notion of helping out banks that don't need help sounds bizarre.
No comments:
Post a Comment