So with all the corruption on “EVERYBODY’S’ part, what keeps Paulson from using the $250B to make a little quick cash for himself? Is he regulated? Didn’t think so!
There is an oversight board. But the reality is, it is better only to have $250 bln to screw up than the $700 bln the Democrats were going to hand him. The issue isn’t that this is perfect. The thing is, we significantly decreased the magnitude of this.
The bailout was going to get passed no matter what we did, but we got the thing weakened significantly.
A few people are going to get rich no matter what happens. You'll never prevent that.