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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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.