It depends on sentiment as the prime factor, and it's damn hard to predict.
If Congress delays this with political squabbling, the sentiment will immediately go negative and it may be impossible to get a second Chance before the entire system goes over the cliff.
700B is only a fractional amount of the whole, and well placed it could do wonders, but without sentiment backing it up, it will do nothing.
Thank you for answering. I have mixed thoughts about this staggering bailout proposal - and am trying to learn as much as I can from various points of view.
I’m extremely concerned right off the bat by the language I read in the first draft of the proposal - practically speaking, Paulson is being given more power than we’ve ever ceded to an un-elected individual. Regardless of his true intent, that is disturbing.
Clearly- we’re in an extreme situation. What I’ve listened for in vain since Thursday is a conservative view on an alternative solution, or if not a solution, an honest appraisal of here’s what happens if we do- if we don’t.
This morning all I was able to glean from the talking heads in both parties is- it’s awful- we hate it- but it must be done. The only variance was hearing the liberal desire to do even more and go further and the Repulican desire to keep the bill clean.
I understand Mike Pence isn’t thrilled with the idea- but I don’t know if he’s offering an alternative. I was struck by Boehner- he said this is bigger than ideology and must be done, NOW. Not too reassuring, from a constitutional point of view.