Here's a great article about the lunacy that is the Bush/Paulson bailout plan.
Let's hope that wiser heads will prevail in Congress (fuck, I can't believe we have to rely on that loose collection of morons) and that this plan will not be implemented as written. I don't care if the Secretary of the Treasury was a saint or my own mother this is WAY too much power for one person to have over the financial system. The mere fact that Wall Street bankers are willing to agree to this kind of oversight scares the shit out of me....things must be really bad. Or maybe they realize that this will help to shield their actions from the Judicial system in the future?
2 comments:
DING! DING! DING! DING! We have a prize winner in the fourth row. In my mind definitely using this as a way to hide from the SEC and others.
Again, I hate to say this but what if this shit had happened in 2005 with Bush's "rubber stamp" Congress in session? At least the sitting Congress is giving it some consideration, I still think they'll fuck it up though.
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