"I think this article has a pretty good list of what sould be done. I also think it could/should be coupled with a drill everywhere do everything energy plan that would be a big boost to the economy. I think the bailout is a very bad idea and the camel's nose under the tent again. If we want to fix the economy, we need to strengthen the principle on which it is built - i.e capitalism - not weaken it with a govt. bailout. Sen. Richard Shelby is doing a good job. I had never really been impressed with him - but he is speaking out now. I am also encouraged to hear the FBI is investigating - interesting choice of the body to do the investigating.
Part of the article appears below and you can read the entire piece by clicking on the title of this posting.
."The Republican Study Committee has released an alternative to the Treasury Department's bailout proposal and will discuss the proposal at a press conference today. Conservatives have expressed concern that the Treasury's proposal will alter the country's free-market system, awards massive authority to the Treasury, and fails to penalize debtholders and shareholders. Here is the committee's free-market alternative as released this morning."
We can study it forever but if we do we will all be broke. It is a bitter pill but we need to swallow it. Perhaps we can then focus on the fact that we have a dysfunctional congress and insist that there be term limits. Pensions for politicians is an absurd concept and we need to throw the rascals out.Especially Barney Frank and Chris Dodd.
ReplyDeleteWall Street Journal criticizes McCain and Obama today for their reactions to the crisis but they also published a very interesting article by Andy Kessler entitled" Paulson Plan will Make Money for Taxpayers." Here is the link:
ReplyDeletehttp://ets.dowjones.com/trk/click?ref=zp91d7vhu_2-ab89x314906x13208&