While I agree that the patriot act was planned, I am not sure how the bailout benefits anyone.
I mean the patriot act brought US public safety standards to something closer to the rest of the world. I (and many others) disagree with it because most of the governments of the world are too intrusive and controlling. But the point was that there was a large powerful lobby that always wanted the measures of the patriot act adopted.
I don’t see that same kind of lobby for this measure. Its more like the “surge” in Iraq. It might be very successful and improve stability but it is really just dressed up damage control. I do think that the parts of our economy that led us here DID have a huge lobby (deregulation, loose money, loose securitization rules).
Hopefully the remedy will garner a huge lobby and address the causes as well. We’ll see.[/quote]
My god you are naive. No lobby for $700 billion? Your buddies at NAR have been begging for a bailout for months. PIMCO’s Bill Gross can’t wait to get his hands on that taxpayer money. There are tons of other bagholders out there who can’t wait to unload crappy mortgages on the taxpayer.
Who do you think is writing this bill? Congresspeople? Not a chance. This bill is most assuredly being written by lobbyists.
Do you live in a bubble or something? I don’t see how else you could believe that lobbyists wouldn’t be involved when $700 billion is at stake.
