Poison Pills
This is exactly what I was worried about yesterday. Instead of just passing the bailout plan as recommended by the Bush administration, the Democrats start adding poison pills to the bill. They’re not really interested in fixing anything, at least not before the election. Somehow the Democrats, and their enablers in the left-stream media, are trying to spin this as McCain’s fault.
As it stands, it looks like the Paulson plan is dead or at least on life-support. I’m wavering back and forth on this issue. It sounds like a bailout, but we may actually make money on the deal. However, what reforms are put in place to prevent this from happening again? Are banks still being forced to give loans to people who really can’t qualify for them? Or is this fix just a band-aid until real reforms go through?
As a side note, you can tell the economy is sick when you hear a lot about “toxic” assets and “poison” pills.
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So, I read over the post from “Why is ACORN in the The Bailout?” and have a question.If the profited is to be deposited thusly – 65% in the HTF and 35% in the Housing Magnet – what will be left to deposit in the Treasury? Maybe I am missing something here but 65 and 35 is 100, leaving nothing left over.Sharon
Yeah, that was a major problem with the Democrat’s proposal. The money should go back to the government, to pay down the national debt. The new compromise no longer includes those provisions. I’m not sure where the profits will go under the new compromise.