I was going to write a long post about the $700 billion bailout plan that was voted on today, but since it failed to garner the necessary votes (the vote was 205-228), it doesn't seem quite as pertinent. So instead, I'll just link directly to the relevant posts I was going to discuss. Just as well...I'm no economist.
You can read the whole bill here.
Paul Abrams wrote an excellent piece on the "pathetically weak limitations on executive compensation."
Also check out David Sirota's "Top 5 Reasons to Vote Against Paulson's $700 Billion Bailout." I guess somebody was listening.
Update: For those of you wondering why the bailout failed to pass, it wasn't because of conservative, ideological opposition to government intervention in the market. It was because Nancy Pelosi made a speech before the vote that some Republicans perceived as too "partisan." See and read more about it here.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment