fr_defenestrato (![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
fr_defenestrato) wrote2008-09-24 02:14 pm
fr_defenestrato) wrote2008-09-24 02:14 pm
Too big, too fail.
Independent Senator from Vermont Bernie Sanders has a petition going for Secretary of the Robber-Barony Henry Paulson that includes a number of good restrictions on any bailout plan, but is fatally flawed in two aspects: (1) it fails to spell out or even allude to oversight of the bailout plan's execution (and the ongoing governmental fund that will be sitting there in perpetuo); and (2) it includes the typo listed in the subject line: '...companies that are too big too fail...'
FAIL!
And I love New Gingrich's NPR criticism of the bailout plan (as of Monday):
'...[U.S. Treasury] Secretary [Henry] Paulson has shown almost no understanding of how a democracy operates. His initial draft would have given him $700 billion of your tax money with no oversight, no judicial review, no accountability. I mean, we're not a dictatorship.' [emphasis mine]
And: '...if I'm wrong, then we're going to have a significant problem. And if I'm right, we're going to have a bigger problem.'
FAIL!
And I love New Gingrich's NPR criticism of the bailout plan (as of Monday):
'...[U.S. Treasury] Secretary [Henry] Paulson has shown almost no understanding of how a democracy operates. His initial draft would have given him $700 billion of your tax money with no oversight, no judicial review, no accountability. I mean, we're not a dictatorship.' [emphasis mine]
And: '...if I'm wrong, then we're going to have a significant problem. And if I'm right, we're going to have a bigger problem.'