No.
Money.
Grab.
For.
Wall.
Street.
I graduated from one of the top 1000 universities in the country. So I'm an expert.
Everybody knows we're in the middle of a financial crisis. We hardly need a condescending explanation.
This was a bad bill that would have most likely, in the end, made things worse. I am rather disturbed at the large number of Democrats that voted for this pile of shit.
The so-called "concessions" from the Bush administration were nothing more than, well, lipstick is the only thing that comes to mind. There was no meaningful oversight. No meaningful limits to executive compensation. No meaningful protection of taxpayer funds through equity.
Hopefully, the failure of this godawful legislation will wake up enough congressional leaders and they will realize that the only correct way to solve this problem is to figure out a way to:
- minimize the exposure of taxpayer funds
- maximize the transparency and accountability of those making decisions about spending taxpayer funds
- minimize the ability of the people who created this crisis from profiting from the bail out
The legislation that was rejected today failed miserably on all three counts. A reasonable bill that fulfills the above principles, crafted in Congress in the light of day, should be an easy sell to both the members of Congress and the population at large.
I never thought I would see the day when I would agree with Darrell Issa. Darrel. Fucking. Issa.
"...if a drowning man asks you for a lifeline you give him a lifeline, but you don’t give him your boat and let him sail away."
If it's not worth doing right, it's not worth doing.