Oct 01 2008
People of America, The New Economic Czar….
People of America, welcome your new leader…Henry Paulson Juuuunior. That’s right the Secretary of the Treasury is now the most powerful man in the United States or who ever becomes the next Secretary. Why you ask, because as usual the wording in the bailout bill in the Senate is vague and open but one thing is made clear; the Secretary is in charge of the welfare of the United States mortgage system or as we have been told the economy. What does this mean? Does a cabinet member with zero voter accountability now have open power to act as he seems necessary for the welfare of the economy? Can he pass taxes, enforce laws, build new houses, foreclose on individuals, print more money, invade an oil producing country? Where does it stop and why are we giving the government this type of power? The forefathers must be rolling around in despair. This bill will make the Patriot Act look like the Bill of Rights.
Secondly and not surprisingly the Senate is tossing on their pet programs, bloating the bill that will surely go well beyond a trillion dollars when enacted. Another wonderful bill passed in a panic and will soon be questioned by everyone.
Read it:http://www.nytimes.com/2008/09/21/business/21draftcnd.html
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4 Responses to “People of America, The New Economic Czar….”
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No one is arguing that this bill stinks; including the people that are voting for it to pass. Which is why some genius limited the power of the Treasury Secy. to two years. Yes, it’s relatively unchecked for 28 months. Yes, it’s stupid, but it’s one of those hold your nose and vote situations. If it fails to ease the credit crunch, I’ll eat my words.
I agree that the bill is badly written and 28months is too long for that much power. I think it will ease the credit situation just b/c ppl will be happy to see that something was done and will feel more confident in the short term…but it is still a bad plan.
I wish it were true that people think the bill stinks. And it says now 28 months. What stops them for extending this when the 28 months is up? When we are still in an “economic crisis”? Thank you for bringing this to my attention.
You will be eating your words, threedegrees…Maybe not in 2 two years, but this will not change much, if anything…In fact I see it creating even more problems.