"You can draw some valid parallels between the prosecution of the war under the Bush regime and the way the financial sector has operated in recent years," said Tom Schlesinger, head of the nonprofit research group Financial Markets Center in Howardsville, Va.
"It fails the most basic test of democratic accountability," Schlesinger said...
"It is no wonder that the Bush administration is pressing to get the plan passed quickly before any real oversight can be brought to bear, because even the simplest due diligence suggests that it needs some work if the taxpayer's interests are to be even minimally protected and some real oversight brought to bear on the whole process," wrote Josh Shapiro, chief U.S. economist at MFR Inc. in a note to clients.
23 Eylül 2008 Salı
Scary quotes on the Bush Bailout
Some scary quotes from Marketwatch.Com. It does nothing to ease the concerns about the Bush Bailout.
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The reason for the bailout is to attempt to salvage something of the financial system. It's like an airplane that is coming down... they are trying to land the plane, even if it's in the woods and breaks apart, so that at least some of the plane is left.
YanıtlaSilIt's poison, no doubt, but so is doing nothing. You have to pick.
Nick,
YanıtlaSilThe problem with your premise is the hippocratic oath: "First, do no harm." If you are dying of snakebite, yes you must "do something." But trying to chop your leg off to stop the poison spreading will just cause you to bleed out instead. Either way, you die. The question I have is whether we are taking the time to really take an action that makes sense and will work, or if we are just "doing something" - political theater to calm people down.
I'd say this is more like chemotherapy than a snake bite... you do a lot of harm, and it causes weakness, but the alternative (including waiting to figure out what to do) will cause death. You also might die from the chemo, but you take the chance because it has a better track record.
YanıtlaSilNow, there are obviously differences, and I do think that leaving the system to work itself out is probably a better idea. I just wanted to point out the reasoning that is being used, especially regarding the speed of this thing.