suspicion
I just don’t like the way this bailout thing is looking. I’m glad that the President and the Fed and Congress are all arguing about this instead of just nodding, smiling, and going with whatever makes them feel a little less scared. I don’t want them to act without thinking - this is how Wall Street got into this mess. If the government is going to saddle my great-great-grandchildren with the burden of bailing these companies out, they better think long and hard about the kind of precedent they’re setting and the responsibility that they’re taking on. I’m suspicious. This is all unprecedented so far as I understand this, and we don’t even know how far down this rabbit hole of new territory goes. I understand that the Fed Chairman thinks that swift and decisive action would be best for the economy, but I honestly don’t think rushing makes the most sense right now. I hope they get this right, thinking about long-term consequences just as seriously as short-term patches.
So far, it looks like a really really bad idea. Just give Paulsen authorization to spend up to $700 billion, without oversight, without transparency, and we’re just supposed to trust him? Who are they kidding?
Yes, we need a solution, and the sooner the better, but we need solid, thoughtful solutions, not to throw money we don’t have at the problem and hope that’ll do the trick.
Comment by Revanche — September 24, 2008 @ 12:03 pm
I agree that it is a scary thing. I actually wrote to my congressman and both my senators today to voice my concerns for rushing into this, as well as some of the issues I have with the current plan.
If you google search your representatives you can find out who they are and contact them - it’s important to let the people voting for us to know how we feel, afterall that is their job…
Also, did you see the presidential address tonight? It was a quick speech but did a good job and if you didn’t get a chance to watch it I’d suggest trying to find it online or get a transcript. He’s in favor of the bailout.
Comment by L@spillingbuckets — September 24, 2008 @ 10:53 pm