9.22.2008

I loves me some Democrats

Dems to would-be dictator Paulson: "Piss off, baldy!"
Lawmakers from both parties, while acknowledging the urgency of the moment, nevertheless object to giving what they characterize as a "blank check" to Treasury Secretary Henry Paulson to buy troubled assets from financial institutions. They want provisions that would explicitly protect taxpayers.

"We don't have a lot of time. We want to act but we want to act responsibly," said Senate Banking Committee Chairman Christopher Dodd, D-Conn., at a press briefing Monday afternoon.

Dodd has proposed his own version of the bailout bill, which includes clauses similar to the key features of the Varones plan: equity for the government and limits on executive compensation. The only thing missing is prosecution for the crooks who got us into this mess. I wonder why Dodd left that one out?

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Quotations from Chairman Varones

There are very few financial problems that can't be solved by a suitable application of asset bubbles.