This move will free up some credit, and partially de-fuse the "credit crunch" while restoring some confidence. This changes the "bailout" scenario.
Note to House Republicans: Make sure you get what you want before you vote on Pelosi's Folly tomorrow.
And tell the Usual Suspect clowns to buzz off.
I guess if you can't win em, buy em is the call for the new bailout bill. I say, NO, go back and put it together without the bribes.
ReplyDeleteHere is how they're buying them.
A revised bailout bill includes tens of billions of dollars in tax breaks for the middle class, for homeowners who don't itemize their deductions, and for property owners in Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming.
Add on the $3 billion funding dollop for rural school programs over the next five years. And another $8 billion over the same period in disaster aid, much of it for Midwestern states. And toss in unrelated legislation, far-reaching in its own right, requiring insurance plans to provide better benefits for mental health.
None of these has any direct bearing on the problem afflicting Wall Street and the entire economy. Yet in the currency of Congress, each is rapidly becoming part of the solution.