They gutted the bill. Congress reduced the real bailout package to $250B and turned the rest into pet projects. That's not enough. Start buying precious metals -- the dollar is about to collapse.
Barring a time machine to assassinate Andy Cuomo in the early 90s, or kick Dodd out of office before 2002, I wanted to see the full $700B given to Paulson, no strings attached. It had a chance of freeing up credit. Mind you, I'm usually a proponent of the free market. $700B without oversight was a last-ditch effort to save it. (And one backed by the Democrats, btw -- it was Boehner that killed it
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A friend of mine who had a 4.0 GPA in Computer Science/Mathematics can't get a FAFSA loan to go back to school. It's so sad. He's soooo intelligent but too poor to go to school. When I was in college, getting a FAFSA loan was as easy as going to Burger King and getting an order of fries.
I'm okay with the hefty price tag, but no strings attached?
Without oversight and accountability, Paulson would just give it all to his friends (indirectly of course), and not place nearly enough of it strategically where it matters. As much as I agree with you that a great big giant bailout needs to happen, you simply can't put somebody in charge of $700 billion dollars without any conditions. The money doesn't do anybody any good in the wrong hands.
Sorry, really think we need to crash and burn. Maybe this is just a crazy conspiracy but I think this bail out will completely bankrupt the treasury and everything will become privatized because the government can't afford it.
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Without oversight and accountability, Paulson would just give it all to his friends (indirectly of course), and not place nearly enough of it strategically where it matters. As much as I agree with you that a great big giant bailout needs to happen, you simply can't put somebody in charge of $700 billion dollars without any conditions. The money doesn't do anybody any good in the wrong hands.
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