is a gaggle of ignorant pidgeon heads…
That’s all I have right now, what a missed opportunity to both salvage the economy and make some progress in the regulation and oversight of the country’s major banking institutions all at once…
Well, we had a second world war…I guess it is time for the second great depression…
Someone on another blog responded to a post of mine asking what I liked about the bill…of course, the whole situation sucks, but compared to what the administration was asking for, here are my pleasures:
1) Equity Stake
2) Restrictions on executive pay
3) Oversight (double if not triple, congress and an independent body)
4) not a single lump sum with congressional option to cancel the second half if the initial injection doesn’t work.
5) part of 1, but worth mentioning and not all would agree, but I like the idea of taxpayers getting a direct return from the profits of the banks that form the fundemental structure of our economy. Their wealth is built on the backs of all of us, and since we can’t seem to tax them effectively (and the republican’s continue to try and kill capital gains) at least we could own part of them (more of a door opener than a significant stake, but I’m left leaning enough to take what I can get in the line of broad public ownership of financial infrastructure.
Plus I should probably admit I kind of like the idea of being on the slippery slope to socialism… 🙂