Sunday, September 21, 2008

The Bailout As Political Hay

The campaigns are going nuts. There has been little on the talk shows other than finger pointing. The administration has come out with a plan. It is three pages long. This is of immense importance because now it goes to the House and the Senate. How much pork will be added?

It's important to understand that the posturing by both candidates is for naught. There is nothing either of them can do about the current financial meltdown. Forget that they both are party to the laxity that brought it about in the first place.

We need to know from each of them what their ideas are on how to prevent this from happening again. Some regulation will be necessary. How much and why? They can only speak to the future and we should make them do so.

If the bailout emerges from Congress with any more than the three pages it had going in, I want to know who added what and why. And why I should not vote them out of office.

7 comments:

Sylvia K said...

Amen, count me in! Wonder if we could get an answer? Maybe, but an honest one? Nah, probably not.
To think some of these guys probably belong on my stupid list post today. Great post as always!

Margie's Musings said...

They both need more then their own gifts to fix this mess. They need some genius economists.

9milemom said...

Here! Here! I agree. The media does not cover what is really needed...the meat of the campaigns. They (the media) is so used to covering fluff like Brittney and Brangelina that they have forgotten what real news is!!

Dogwalkmusings said...

Hi 9milemom! Thanks for commenting. It's always great to welcome a new reader!

gyma said...

Are you not bothered by the lack of oversight in this 3-page bill?

This is from the NY Time: "And it would place no restrictions on the administration other than requiring semiannual reports to Congress, granting the Treasury secretary unprecedented power to buy and resell mortgage debt."

In essence we would be giving one person in the Bush Administration complete and utter control over this $700 billion.

Hasn't the lack of oversight already caused a slew of problems, including the current meltdown? Why are we willing to gamble even more?

Dogwalkmusings said...

The bailout as it stands is not a perfect fix but there is an immediacy to it. My point, however, is this is not the time for Congress to be adding pork for pet projects.

TropiGal said...

Please keep commenting. I enjoy reading your thoughts.