Quote:
Originally Posted by Pleasurepays
that is absolutely 100% totally and completely false.
there is a substantial oversight process included in the bill and a committee to oversee the process.
its not a "700 billion blank check" but rather payments that come as contingencies are met
|
yes, of course its included in the bill, but who is on the committee, how often will they meet (from what ive read, a staggering once a month), what are the details - better yet, can you show me one piece of information about any assett this money is going to be used for, what the fair market value is, and what the taxpayers will pay for it? probably not, right?
of course theres an oversight committee in the bill, instead of looking at it like a theory on a piece of paper, think about the pragmatism of it (and by it, i mean politicians and government officials in business). do you think there is a chance they can advance their own personal interests ahead of the publics interests? i think we all can agree, absolutely yes. the only real way to bring true disclosure and to oversight is to package it in a financial vehicle that can be freely traded on the markets imo. thats when the price of this instrument will rise up and down as real and true information comes to light. you lie, and you go to jail, and theres a way to really see what is going on, vs relying on politicians to regulate, with little or no real true disclosure.
i find it interesting how bush is trying to rush this thru right before he leaves office, this guy hasnt rushed to do anything in his time, and the plan favors goldman via paulson who is an industry insider, formerly of goldman. im not saying its all malcontent, im saying this plan blows ass, and we need to come up with a better way to forward the money to them, and make sure the taxpayers are really protected and will see the benefits.