"Science does not answer questions, it creates better questions."

- e. a. graham

Stop the Bailout!

If you still think Hank Paulson should be the communist dictator running the economy, we suggest you take a moment to read:

The plan is being marketed under false pretenses. Supporters have invoked the shining success of the Resolution Trust Corporation as justification and precedent. But the RTC, which was created in 1989 to clean up the wreckage of the savings-and-loan crisis, bears little resemblance to what is being contemplated now. The RTC collected and eventually sold off loans made by thrifts that had gone bust. The administration proposes to buy up bad loans before the lenders go bust. This difference raises several questions.

It should be noted that "Only 28% Support Federal Bailout Plan" yet this has caused no pause for those who represent us in Washington. Shocking, they are ignoring the us and saddling us with nearly a trillion dollars ($1,000,000,000,000) of debt for the convenience of Wall Streeters.

posted at 13:06:03 on 09/22/08 by clearpolitics - Category: Economics - [Permalink]

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