But Paulson insists that he wants a "clean" plan. "Clean," in this context, means a taxpayer-financed bailout with no strings attached - no quid pro quo on the part of those being bailed out. Why is that a good thing? Add to this the fact that Paulson is also demanding dictatorial authority, plus immunity from review "by any court of law or any administrative agency," and this adds up to an unacceptable proposal.
I don't agree with anyone having dictatorial authority w/immunity....sounds scary to me even if I don't understand all of the economics behind it..not a fan of taxpayers bailing out those who aren't responsible for themselves
This scheme is just throwing gasoline on the fire. The 'crisis' was caused by government interference in the economy, more of the same will only make it worse. The housing fiasco and bank closings are SYMPTOMS of the failed policies of the Federal Reserve--Capitol Hill Axis, not the disease.
The bad debts/ housing bubble needs to be allowed to die a painful death so that the needed correction can take place. The robbery--I mean, bailout--will only have the effect of prolonging and worsening the agony. But, FDR gets credit for ending the Great Depression even though he exacerbated it. Why should to-day be any different?
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I don't agree with anyone having dictatorial authority w/immunity....sounds scary to me even if I don't understand all of the economics behind it..not a fan of taxpayers bailing out those who aren't responsible for themselves
Interesting that we have this going on with a small government conservative as President eh?
It's disturbing that we have this going on period!!
And, yes, I agree: it is disturbing.
The bad debts/ housing bubble needs to be allowed to die a painful death so that the needed correction can take place. The robbery--I mean, bailout--will only have the effect of prolonging and worsening the agony. But, FDR gets credit for ending the Great Depression even though he exacerbated it. Why should to-day be any different?
Learning from history? Nah...