McCotter’s Alternative (House Republican Policy Committee Chair Alternative to Paulson Plan)

The American Prowler ^ | 9/24/2008 | The Prowler

[nickcarraway]

Well, start by writing and calling your representatives in the House and Senate.

[nickcarraway]

Don’t you see that that may prolong the problem and make the eventual “bill” to pay even greater? How many more bubbles can we afford?

[pawdoggie]

You must be Herbert Hoover reincarnated. Don't throw the baby out with the bath water. If this market crashes Obama is president.

You got that right! Anybody notice how much press attention the GOP members (Bunning in particular) got from the DBM today? Why, hell, the Networks even had the Republicans out front on this, when's the last time we saw that? If the Democrats can run out the clock on this with GOP help (thereby avoiding charges of inactivity and lack of leadership), and the markets fail, we'll get Obama as Commissar in Chief, and all the Alinsky rules will have prevailed. ...And don't think the Democrats haven't smelled this opportunity, either.

[Thane_Banquo]

See my post Why the Bailout is Bogus Baloney. This bailout is intentionally structured so the federal government purposely overpays for these asets in order to allow Paulson's limousine liberal friends in NY to get huge bonuses. Also, Paulson will be an executive at one of these firms on or about January 20, so he will be able to sell assets at 80 cents on the dollar that are marked at 40 cents on the dollar and get himself a huge bonus for FY 2009.

[Bean Counter]

This sounds great, but I’m not in a position to know if this is a viable solution or not. Frankly, I don’t know who to listen to on this right now because both sides are so adamant that the other side is wrong. It sounds like we’re screwed one way or another and it’s becoming increasingly difficult to separate the shoe polish from the bull excrement.

Monday I was convinced that Paulson was right about this bailout solution, mainly because nobody else was presenting any viable alternatives, or rebutting his dire warnings about imminent catastrophe.

Now I’m not so sure, and it’s very frustrating not to be able to know who to believe on all of this. It sounds like we’re screwed either way, and that choosing a solution is a matter of choosing the degree of the screwing...

I don’t think I’m merely being dim about this either...