Thursday, September 25, 2008

This is why ...

This bailout shouldn't go forward. Dday:

...

Basically, gimme gimme gimme or the economy gets it. And while Bush appeared to accede to a lot of the steps sought by Congress - vague limits on executive compensation, some ability for taxpayers to cash in on the upside potential, and some manner of oversight - he drew the line at any re-regulation of the companies who got us into this mess, saying that it could "come later." And indeed, most of the talk was about the failure of borrowers to pay their bills, not the predatory practices of lenders to shuttle people into loans without explaining the circumstances (and through yield spread premiums, actually getting bonuses for that). [my em]

...


Basically, I don't trust them as far as I can piss into a Force 9 gale.

No comments: