This is an INCREDIBLY big amount of money. It's 5% of the gross national product. When I make a big purchase (say, buying a house), I put more thought into it than a week of sleep deprived sessions of people yelling at each other.
While the current financial situation is pretty unpleasant, I think the bailout package was put together with nowhere near enough thought. There are some pretty terrifying provisions in there, and a severe lack of safeguards to prevent this from happening again. I'm willing to put up with a few more days; or even a few more weeks; of the current uncertainty if it means we can have an economic package that reflects more than panic than reasoned judgment.
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Date: 2008-09-29 07:36 pm (UTC)Yes, and judgment takes time.
Date: 2008-09-29 07:53 pm (UTC)While the current financial situation is pretty unpleasant, I think the bailout package was put together with nowhere near enough thought. There are some pretty terrifying provisions in there, and a severe lack of safeguards to prevent this from happening again. I'm willing to put up with a few more days; or even a few more weeks; of the current uncertainty if it means we can have an economic package that reflects more than panic than reasoned judgment.
(no subject)
Date: 2008-10-02 01:58 pm (UTC)My bet is on the latter; this gives McCain and these representatives an opening to say that they're not Bush's lapdogs.
In any case, to call the question and then have it fail was more damaging than saying "we need another day to resolve this."