We will wait until tomorrow. Everyone needs to be on the phones. This isn’t as bad as the bill could’ve been but it still is ugly and the more I look at the more it looks like a scam to protect the few the powerful and Democrat constituents. This bailout will make it easy for the same banks who issued high risk loans to continue doing so. They should be more cautious but when they see the government willing to bail them out and buy their bad loans it becomes an invitation to fleece the government and the taxpayer. Where is the crisis? 95% of Banks and most loans (only 13.6% are sub- prime and only a fraction of those are in default) are ok. The problem is the biggest and most heavily regulated banks issued the most subprime loans so the idea that some how this destory the market I think is an exaggeration. We is the structural instability to suggest this? It seems to me that it would be a good thing for people with unreliable credit not to be taking out huge loans for homes and business or tuition. Why not freeze tuition rates at a rate so people can go to college without taking out loans. Liberals are always talking about sacrifice. ;-)
You can bet I’m going to be on the phone tomorrow. This is a huge SCAM. I see nothing behind this bill but pure greed. It is not good for America. It is not good for the economy. I am torqued. What torques me off even more is that it will likely pass despite whatever I say.
I thought it was horrible what Clinton did with selling pardons before he left office. It seems Bush wants to do even worst than his predecessor.