Friday, September 26, 2008
Bailout still not done
The Register decided, while the matter was still under way, to focus on two aspects of the proposed financial bailout: the fact that Treasury Secretary Paulson had asked for unaccountable dictatorial "trust me" powers in the original draft, and the fact that we still have almost no details on just what they really plan to do with all that money. Congress bristled at the unaccountable part (they want their piece of the action and an ability to direct some money to their own preferred interests too. And as of tonight, there's still no agreement. Can't say that I'm terriblyu dispkleased, except that taxpayers will still get nicked and the fact that this thing was made in Washington rather than on Wall Street will never get fully acknowledged.