OK, so you give a fellow control over your aorta. He uses his power to get into big trouble, so he is threatening to shut it down. So you have to bail him out. (a better metaphor would help. is there a poet in the house?)
SLATE: >The Sunday editions of the Washington Post, New York Times, and Los Angeles Times all lead with the latest details on the Bush administration's plan to rescue the crippled U.S. economy—most of all yesterday's increase of the price to $700 billion, a figure higher than the current cost of the Iraq war. (The LAT conveys the magnitude of the number by sprawling all 11 zeros across its front page.) Bush's plan would also give the Treasury Department "unfettered authority" to buy failing properties, notes the NYT's lede, and raise the legal limit for U.S. national debt to a staggering $11.3 trillion. ... >Speaking Saturday about his bailout plan, President Bush said, "The risk of >doing nothing far outweighs the risk of the package" and that, over time, >we're going to get a lot of the money back. The WP reports that the proposal >puts no time limit on how long the government may hold the assets it purchases >but that the goal is "to sell them after housing prices recover and to earn >back much of the money." >While just about everyone agrees that a basic bailout for Wall Street is >necessary, there is potential conflict afoot: Democrats plan to insist on >provisions to "help hundreds of thousands of troubled borrowers at risk of >losing their homes to foreclosure," the NYT reports. "Democrats worry that it >will primarily be viewed as a bailout for big Wall Street firms," the WP >explains. (House Majority Leader Nancy Pelosi is quoted by the NYT saying the >government should "insulate Main Street from Wall Street.") Both papers >mention congressional Republicans' warnings that the extra spending measures >will slow the proposal's passage. < -- Jim Devine / "Nobody told me there'd be days like these / Strange days indeed -- most peculiar, mama." -- JL. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
