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Question of the day
Posted by: McQ on Monday, September 22, 2008

It comes from my friend Kevin Whalen on Pundit Review Radio last night:
"How is is we can bailout 700 billion worth of financial institutions in 2 days on 3 pieces of paper but it takes 18 months to build one mile of border fence?"
Speaking of the bailout bill, anyone else uncomfortable with this language?
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.
My guess (or should I say 'hope') is that won't make it to the final bill in Congress.
 
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So why is that Congress seems to be acting like a junkie with this insistence on adding more money for more loans into the market of the subprimes ?
 
Written By: Neo
URL: http://
McQ:
I was so uncomfortable about that language I faxed a letter to my Senators and Congress critters criticizing Paulson and telling them "No. Not with (my) tax dollars." If Bush doesn’t reign in Paulson’s obvious cronyism it is going to give the Dems a big target to shoot at. So we get partisan politics...just when what we need is careful & thoughtful solutions.
 
Written By: Unscripted Thoughts
URL: http://
The problem is (we’re told) that fast action is needed to avert a world-wide financial meltdown on the scale of 1929, so there’s not much time for anybody to carefully go over the legislation and raise objections or make changes. Not that I have any faith in the Congress’ ability to do a good job, but in principle that’s what they ought to do. O’ course, the government (especially the Congress) is the entity that did the most to get us into the friggin’ mess in the first place... Why they hell are we trusting them to get us out????
 
Written By: docjim505
URL: http://
So why is that Congress seems to be acting like a junkie with this insistence on adding more money for more loans into the market of the subprimes ?
Because they don’t want to contribute to a potential slowdown just as the Obamessiah takes office.

They tried social engineering through taxes and that was brought to a temporary end in the 80s. So in the 90s they found a new way to social engineer, with regulation of mortgages. Doesn’t cost tax payers a cent, up front.

In addition to no up front taxes, the side benefit of these risky practices is likely stimulatory to the economy, until its time to pay the bill.

The Democrats probably see this as a way to salvage the practices of Fanny Mae and not an end to them.
 
Written By: jpm100
URL: http://
How is is we can bailout 700 billion worth of financial institutions in 2 days on 3 pieces of paper but it takes 18 months to build one mile of border fence?"
Simple; There aren’t any Union contractors involved with getting those three bits of paper generated.
 
Written By: Bithead
URL: http://bitsblog.florack.us
easy becuase there is no money to gain in stopping people from crossing boarders in reality there is money to me made with uncontrollable boarders.
 
Written By: slntax
URL: http://
I just wrote to Johnny Isakson, Saxby Chambliss, and Nathan Deal (GA) and told them all ’HELL NO’!
 
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