Okay, you have any better ideas?
It doesn’t look like a blank check to me. Obviously, there has to be flexibility in using it, but there will be oversight and accountability goals. None of this was in the bill before the McCain and the GOP worked on it.
Here’s my idea. You go to a bank, apply for a loan. If approved, the government backs the loan at whatever interest rate. Instead of bailing out, government is stimulating economy by offering loans to those worthy. Dont know if it would work, but sounds better than buying a bunch of crap.
So who’s doing the oversight ? Same type of oversight we had while the bubble was being blown ?
How about them now consulting with Uncle Warren, Mr. Buffet to you, AFTER he put 5 billion into Goldman Sachs. Can you scream “conflict of interest” ? Do you think they invited the 190 economists who said the plan was a disaster ? No.
Or, how abut that nice 0% reserve requirement added in ? Anybody know anything about math - ratios ? You can blow up a lot faster with a 0% ratio than the more recent 6% ratio.
You people need to wrap your minds around the fact that they are rigging the game out in the open now, and they aren’t rigging it in your favor.
Every single person who wants the US to remain a Constitutional democracy needs to get off their butt and call/fax/email every Rep and Senator that we can and will vote out of office anybody who votes for this pig.
www.fedupusa.org
Oversight Smoversight ...
Fannie Mae and Freddie Mac had “oversight” and look how much good that did us.
The goobermint overseeing the goobermint is comprised of thieves and incompetent bureaucrats jealously glancing over to see if those other thieves and incompetent bureaucrats are getting more spoils than they are getting.
We are so screwed ... and the pooch too.