The more I hear and read about this "bail out" the more and more furious I become.
Dave Kawalec
· 1 year ago
It doesn't say he has a blank check. It says he has a $700,000,000,000 check very specifically. The rest says the Secretary is the final decision maker regarding the matters that the Secretary is given under the law. My assumption is that there may be laws on the books specifically prohibiting the Secretary from taking these actions under normal circumstances. That section just says in the limited circumstances described in the law, the Secretary's actions are legal.
Regarding your headline, it's easy to make the argument that once you allow people to form corporations to limit their liability, the market is no longer truly "free" anymore. Certainly not equitable at the very least.
Christopher S. Penn
· 1 year ago
It's blank in the sense that it's not a fixed $700B. It's a debt ceiling, so he can buy as much as he wants as long as some of it gets sold off to stay under the $700B ceiling.
whitney
· 1 year ago
So what can we do to stop it? I think giving him a blank check is a disaster- any blank check is a disaster. There are some amazing testimony given before Congress this week, available over on CSPAN radio- Lots of problems, and the finger in the dike approach is just worse than letting some things implode and clean up afterwards.
Christopher S. Penn
· 1 year ago
Contact your elected representatives with every tool you have at your disposal and urge them not to give the keys to America to Paulson and Bernanke.
haroldcabezas
· 1 year ago
Thanks for bringing attention to this matter, most people have no idea the future repercussions of such a drastic move. This whole situation is very sad, many people will be affected by this bailout.
Jeff
· 1 year ago
The FAT CATS are just getting FATTER...THANKS TO THE BRAIN DEAD taxpayer. They don't say anything,don't do anything.... They continue to let these empty suits elected politicians and Bankers take their hard earned money. By this inaction and lack of interest other than reading the paper is a tragedy and so very SAD. The people have been screwed big time once again
Chaz
· 1 year ago
This is insane. I've written all my elected critters and that useless POS Speaker of the House. I doubt it will do any good. Face it, we're fucked. I let my Rep and the Senator that's up for election if they vote for this, I'm voting against them.
Victor Lugo
· 1 year ago
I appreciate your insight into the "ridiculous" but now "ludicrous" acts of the government. Basically we're all screwed. The best part is how this bail-out could be for absolutely nothing. It could all collapse after this with some other company going under. There are no guarantees that this will work even short term. I say let the dice fall where they may becuase ultimately they are going to do whatever they want and there's nothing we can truly do about it except hack our way into the 700 and send huge checks to everyone in America. That would be something huh?
Nancy Roy
· 1 year ago
What ever happen to "We the people", or did they rewrite that too ?
Cindy Way
· 1 year ago
Looks like we're living in a New Age whether we like it or not. We shall see more and more of our American way of life fade away and more of our personal freedoms trampled on. We should stand up against tyranny whenever possible but not panic. Let us not give into fear and panic in the days ahead. It was foretold thousands of years ago that a time was coming in which many people would drop dead of pure fear because of these extremely perilous situations but not to be afraid. These things had to happen. Be of good cheer, there are people who have the ability to make unusually wise decisions in the midsts of these crisis if we pray and encourage each other. We can live simple and help each other out more than we do. I appreciate being able to read and understand from you. CW
Cindy Way
· 1 year ago
What next? World currency. Not too distant future.
Cindy Way
· 1 year ago
What does approval by a moderator mean. Is there a little gnome reading my comments making a decision whether to post it or not?
Elena
· 11 months ago
I’m really impressed with your article, that was exactly what I was looking for.. it was certainly a great read for me, I’ll be looking forward for more of your articles cause that’s one of the best I’ve read recently. Keep up the good work
All Comments
Regarding your headline, it's easy to make the argument that once you allow people to form corporations to limit their liability, the market is no longer truly "free" anymore. Certainly not equitable at the very least.
There are some amazing testimony given before Congress this week, available over on CSPAN radio- Lots of problems, and the finger in the dike approach is just worse than letting some things implode and clean up afterwards.