This whole situation scares the bejeezus out of me. It has the makings of a political, social, and economic perfect storm, a Hurricane Katrina for us all.
Paul Krugman's take on all of this is, as always, worth reading.
Monday, September 22, 2008
Viva Capitalism!
It just keeps getting worse and piling up higher and deeper. Twenty years ago, we fired all the cops, and the crooks ran wild on Wall Street. And now we're expected to bail them all out with a trillion dollar purchase of all their bad debts and worthless assets, and leave them alone to get back to doing what they do best. In the words of Atrios yesterday, "Capitalism, fuck yeah!"
Even worse, section 8 of the bill that Shrub is proposing gives the Secretary of the Treasury carte blance to do whatever he wants without congressional or judicial scrutiny.
ReplyDeleteHere it is.
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Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.
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If congress passes this they all need to be horsewhipped.
I can think of several people in Congress, and in the White House, who should be horsewhipped.
ReplyDelete