How to blow $700 billion...

[tagryn]

Jim Jubak: why the $700 billion bailout plan before Congress is a bad idea.

Jubak also talks about the lack of oversight and accountability in the plan. (video link)

Newt Gingrich also hates the bailout plan in its current state.

I have a very bad feeling that this is just the latest in an attempt by the politicians to stave off short-term financial hurt (i.e. a recession) by making bad long-term decisions, knowing they aren't going to be in office when the chickens come home to roost. But hey, we elected them in the first place; was it Franklin or Jefferson who said "I tremble for my country when I reflect that God is just?"

Comments

[liralen.livejournal.com]

Amen. Sadly... I completely and totally agree with you on this one.

[jilara.livejournal.com]

"People tend to elect the government they deserve." I forget who said it, but it's another good one. I, unfortunately, was not the one electing this lot.

I also liked Andrew's phrasing on what will happen: "when the wolves come home to rest." More descriptive than chickens.