walkitout (walkitout) wrote,
walkitout
walkitout

a little coverage of the bailout

ETA: Bloomberg has a decent article:

http://www.bloomberg.com/apps/news?pid=20601087&sid=a1hr1v2FUeAg&refer=home

Here's a _horrible_ article about Hank and Ben:

http://www.nytimes.com/2008/09/21/business/21paulson.html

Adulatory doesn't begin to cover it. Nothing substantive about the proposed bailout and the article acts like there's some regulatory component to it _which there is not_. This is straight up fill the trough for the pigs. And it's been structured as a huge power grab for Treasury. Nightmarish and evil.

Here's Krugman's blog entry over at the NYT:

http://krugman.blogs.nytimes.com/2008/09/20/no-deal/

He points out some problems with the deal as leaked.

Here are a couple posts from Calculated Risk:

http://calculatedrisk.blogspot.com/2008/09/some-thoughts-on-bailout.html

http://calculatedrisk.blogspot.com/2008/09/ny-times-makes-funny.html

I see _way_ too many parallels between this and the run-up to the attack on Iraq. We're being Sold. Yes, there is a real, serious problem that needs decisive action. But this solution doesn't address that problem and, just like the war in Iraq, it bleeds resources away from where they are desperately needed. Honest, I didn't think that anything could be worse than the inaction I expected out of this administration over the next few months. But they sure came up with something, didn't they.

ETA: The leaked proposal:

http://calculatedrisk.blogspot.com/2008/09/bailout-proposal.html

Gotta love Section 8 especially. How is this even constitutional?

ETA2: http://www.politico.com/news/stories/0908/13676.html

I'm not overjoyed by the Democrats response; I feel like they are playing along a little too cozily, just as in the run-up to the war in Iraq. But the idea that Hank would kill the bill rather than allow it to include limits on Wall Street compensation? Yeah, this is a fill the trough one last time, boys, all the way to the top. Oink. Oink.
Subscribe
  • Post a new comment

    Error

    default userpic

    Your reply will be screened

    Your IP address will be recorded 

    When you submit the form an invisible reCAPTCHA check will be performed.
    You must follow the Privacy Policy and Google Terms of use.
  • 0 comments