Sensible Views Weblog

Sensible – [sen-suh-buhl] – having, using, or showing good sense or sound judgment

$700 Billion Bailout Bill… vote without reading it? Seriously??

with 2 comments

I’m sitting here listening to a news report and… apparently the authors of the bailout want our representatives to vote on it without reading it… ??? Seriously?? Good grief.

Paulson presented a four page agreement to lawmakers and expected that they just vote on it. In that agreement, Paulson was given complete control of oversight of the program.

Seriously??

After lawmakers got hold of it, it turned into a more than 100 page bill… I wonder what kind of perks were stuck in there. I heard ACORN mentioned as a recipient of some of the money… the other day, not in this segment.

They wanted 5 specific people to be in charge of oversite… problem is, those people already have full time jobs.

Here’s another huge problem in the bill – the “golden parachute” remains for those company officers that are still employed at the time of the signing. It is only seriously cut away if a new officer is put in the place of the old one.

Seriously??

Okay I’m just thinking out loud, but this is not good. STILL not good.

Dave Ramsey suggested that instead of a bailout, they need to make it an insurance issue where the loans are insured under FDIC and act like a conventional loan. That is a much better deal than the one these politicians are coming up with and it won’t cost the taxpayer (me and you) anything.

Seriously. I like that one.

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2 Responses

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  1. you thoroughly misunderstand the facts here. apparently you get your news by listening to it rather than reading it. paulson presented a three-page bill. congress rejected it and have come up with a 101-page bill to be voted on monday. for a greater understanding of congressional bills check out our july 9 posting, “what did that bill say?”

    straightrecord

    September 29, 2008 at 2:15 am

  2. Well, you also thoroughly misunderstood my post… which if you read it more carefully says,

    “Okay I’m just thinking out loud, but this is not good. STILL not good.”

    sensibleviews

    September 29, 2008 at 9:13 am


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