Mike Taht is actually reading the entire 451 page (yes, as in Fahrenheit) bailout bill (amended and revised), which he calls porkolicious. I read the first few dozen pages, and what sticks out for me is that it gives the Treasury Secretary a whole buncha power, further advancing the concentration of power in the executive branch of the government.
But, we need it, right?
And we get a new government, one way or another, in February.
Who’s “we” Doc? Is this what “we” need most? Might it not serve “us” better to consider this not as a plan, but as an emergency injection, a shot to stop the spread of whatever, without building into it structures, laws and covenants that will bind the hands of the hopefully saner people moving into power in a few months?
An emergency something is in order, I think. I’ve been to the emergency room for critical issues before, however, and even with health care paperwork it never approached 451 pages.
451 pages would imply quite a plan. Even with big margins, the US Constitution (with amendments) comes it at around 32 pages by my count.
I was surprised to hear the bailout plan was shot down by the House. Now, however, I see a glimpse as to why. SOMETHING needs to be done. There’s no doubt. Time is of the utmost importance. But really, why use this crisis as a vehicle for cramming every tiny bit of crap in there just to get it passed.
But Doc? One thing I don’t think I’m with you on is the idea that in February we get a new government. I’m just not that optimistic. 🙁
A call to Pete Visclosky’s office today reveals that the calls are still coming in heavily against the bailout. It’s good to know that my fellow Hoosiers are sane and not easily stampeded by a bunch of horse thieves.
We might just survive this one.
Karl Denninger smells foreign blackmail as the root cause of this… and I’d give odds that’s part of the truth.
Pages 261 and 262 are where it gets interesting. It’s like there’s a whole section that been added under it (and is not in the table of content). That’s where you can see where some of the pork goes in order to get the votes…
No “sunset clause”?
I would have though that one would be essential; with a bill written so quickly there is bound to be a massive mistake somewhere that nobody will admit to in case it sabotages the voting.
Doc… both McCain and Obama voted for this… the election isn’t going to change anything… now the Bailout passed, and we’re about the relive the depression… but this time it won’t be our depression… it’ll be the 1923 Weimar Republic type of depression/hyperinflation/crash.
Be on the lookout for people with interesting facial hair who are good at speeches.
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