Hunter comments on some new ideas for the bailout. What sounds like a worse idea than a cripplingly expensive bailout? How about a cripplingly expensive bailout with tax cuts? Or, here’s an idea! A cripplingly expensive bailout with tax cuts and looser accounting rules. No, seriously, these things are being considered.
So fine, my position has changed. I was previously “skeptical” of the Paulson plan. Now I want it to die a hot, flaming death. I want its ashes to be fed to goats, and the goats fed to sharks, and the sharks put on a rocket and fired into the sun. I want the whole premise to be made Unspeakable, so that future generations shun anyone who even threatens to mention it.
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Stop blocking, Hunter.
Tell us how you REALLY feel.
Step 1: Ask for $700B
Step 2: Get denied, ask for $700B + stupid stuff
Step 3: Get the $700B you asked for in step without strings.
Plus we can’t have the limits on CEO compensation because we are afraid they won’t take the deal. This congress sure drives a hard bargain.
added: tax break to encourage Hollywood studios to do more filming in the United States.
WTF?
Personally, I’m liking this bipartisan response:
Rep. Lloyd Doggett (D-Texas): “The Senate measure has changed my position from ‘No’ to ‘Heck, no.’ With the Senate amendment, the bailout has gone from bad to worse, $105 billion more in public debt worse.”
Sen. Richard Shelby (R-Alabama): “Many around here are finding comfort in the notion that ‘something is better than nothing.’ I believe that is a false choice. The choice we faced was between pursuing an informed response or panic. … Unfortunately, we chose panic.”
Seeing McConnell and Dodd together in love kind of got me out of the bailout mood.