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irishjayhawk 09-23-2008 08:50 PM

Let's Play "Wall Street Bailout"
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Direckshun 09-23-2008 09:02 PM

I'm in a coffeehouse right now without headphones (how elitist of me, I know), so I can't listen to this audio. But I would like to use this topic to streamline some of my thoughts on the bailout.

I can't help but feel like the Bush administration is wildly overreaching with it.

Obviously a bailout is necessary, but the proposal from Paulson is that there be zero Congressional oversight of the executive's ability to pay the bailout as it sees fit. There's no guarantees in the proposal that new regulations will be administered -- which for me, is a deal-breaker because a lack of regulations is how we ended up here.

And why should we pay all $700 billion up front? Couldn't that be grossly overreaching?

Why don't we just pay a fraction of that up front, see how it works out, and consider adding to it as soon as November? I understand how the bailout is necessary, but why run the risk of grossly overpaying for this sucker in one swoop? Give it time, work in several chunks, and vary as the conditions vary.

This proposal, like the administration from the very start, is just too inflexible and overreaching to tolerate.

StcChief 09-23-2008 09:16 PM

let's not and say we did.

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