One of my big issues with the bailout - and the one I'm glad that it was voted down for - was the amount of power this would have dumped in the hands of the Secretary of the Treasury. There was a great deal of weasel language in it - the kind that goes "and there will be changes to be enumerated later to deal with the penalties/regulations for this situation by the Secretary of the Treasury", and I don't want that kind of naked power grab.
Something needed to be done to head that off, and the bill as written left out too much required how-to information to pass as written.
I work for one of those Wall Street firms - you may have seen them on the news today licking their lips and saying 'Mmm, Wachovia!" - so I have a vested interest in things NOT collapsing. At the same time, I have a vested interest as an American citizen to not support the growth of the Imperial Presidency As It Stands Today.
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Date: 2008-09-30 02:33 am (UTC)Something needed to be done to head that off, and the bill as written left out too much required how-to information to pass as written.
I work for one of those Wall Street firms - you may have seen them on the news today licking their lips and saying 'Mmm, Wachovia!" - so I have a vested interest in things NOT collapsing. At the same time, I have a vested interest as an American citizen to not support the growth of the Imperial Presidency As It Stands Today.