Congress isn't authorizing the $700 billion bailout immediately! Good freakin' God, if they don't pass it five minutes ago, we're all doomed! If Wall Street doesn't get all that lousy debt bought up, we'll return to the stone age. We'll be reduced to hunter/gatherers, chasing down white tail deer with rocks and spears. The only thing we'll have to wear will be smocks made from our now useless money. What is the holdup? What is the holdup?!?Sen. Chris Dodd:
It would do nothing in my view, to help a single family save a home, at least not upfront. It would do nothing to stop even a single CEO from dumping billions of dollars of toxic assets on the backs of American taxpayers. While at the same time do nothing to stop the very authors of this calamity to walk away with bonuses and golden parachutes worth millions of dollars. And it would allow the Secretary and his successors to act with absolute impunity without review of any agency or court of law. After reading this proposal, I can only conclude it is not just our economy that is at risk but our Constitution as well.
OK, so there's that. The bill authorizing the bailout, as written, is freakin' awful. The White House tried to buffalo Congress into passing the bill, trying to whip up panic and using the crisis as cover. They'd managed to pull that off once before, and we got the PATRIOT Act. They thought they could do it again.
But the problem with the Trojan Horse is that you can only use that tactic once, then everyone's on to it. If the Achaeans had shown up at the gates of another city with a big wooden horse a few years later, I doubt anyone would've said, "Cool! Let's bring it in."...
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