On Mon, Sep 22, 2008 at 4:58 PM, Gruss Gott <[EMAIL PROTECTED]> wrote:
> > And if you don't believe me, consider that Congress is 100% united on > what Paulson and Bernake are doing. > > I think you are very wrong on this part. Paulson's plan is under a whole lot of fire. Dodd has a counter-offer, Barney Frank is about to put his version out (he says it closely mirrors Dodd's) and fiscal conservative Republicans are up in arms about the whole deal. This is incredibly touch and go right now. Powerful forces are being pitted against each other at the moment. Banks are weighing in about "what is acceptable" to them, which I find ludicrous given their situation. Beggars can't be choosers, but for guys that are used to getting millions when they are fired for incompetence, I guess they have a different set of expectations. Still, they have some powerful friends on capitol hill (and I'll include Joe Biden in that group). Bush is pushing for immediate action on a huge bill with little or no oversight. We saw how well that went with the Patriot Act. But the situation is dire and politicians need to get back home with enough time to campaign. But there is still enough time between now and the election day for any quick deal to be shown as folly and used against them. So many things battling each other there. Do they want to be populist and not bail out the big wigs? Do a strong leader and steer our economy with a wise forward thinking plan? Be thoughtful and give yourself time to learn and debate everything, thereby postponing the decision until after the election? Lots of options out there. I really can't say which way it will go. And I'm not even sure which way I want it to go. This is a complex situation and I sure as hell wish that we didn't have to reform the entire banking and credit industry in a rush right before an election. My instincts tell me that that is the worst time/way to do it. Judah ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;203748912;27390454;j Archive: http://www.houseoffusion.com/groups/CF-Community/message.cfm/messageid:270511 Subscription: http://www.houseoffusion.com/groups/CF-Community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
