Why You Should Hate the Treasury Bailout Proposal

mb504 said
Like the one run by the same Treasury Secretary -- "Mr. Risk" -- now seeking authority to administer the bailout with no oversight whatsoever?

http://www.businessweek.com/magazine/content/06_24/b3988001.htm

Yep, a guy who pocketed $700 million dollars through the same schemes that led to this mess should be the one in charge of cleaning it up. We know he'll have the common U.S. taxpayer's best interests at heart.

Not to mention by going from head of Goldman Sachs to Treasury Secretary he was able to cash out his 700 million in Goldman stock and pay no capital gains tax. Now he is bailing out his banker buddies on Wall Street...Goldman Sachs would of went under last week now after a few rule changes they are a commerical bank and still might not survive. Must be nice to make billions in a ponzi scheme they created by lobbying to get the glass-steagall act repealed. Bottom line is the system is broke. If the original bill gets passed or not we are screwed either way. Pass the bill and the dollar will be significantly weaker and other coutries will stop financing our debt, leading to higher borrowing cost and inflation. If it doesn't pass and the bankers are on the hook, than the Fed takes their ball and goes home.