|seriously, guys, $700 billion is a lot of money
||[Sep. 24th, 2008|10:25 am]
This whole bailout thing seems kinda shady. Stanton doesn't think it will work. Kos doesn't like it, neither does Atrios. The plan lacks oversight:
Section 8. Review: Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.
It sounds like they're really really really trying to push this through this week, which is like what was done with the PATRIOT Act and should ring alarm bells.
Also, $700 billion is a lot of money, enough for 410 space shuttles, etc. (just multiply by 1.09!) It's $2300 per person. I understand things are bad, but something about giving away $2300 of my money to save Wall Street from their risky decisions makes me want to throw something. From an interview with Sen. Bernie Sanders (D-VT):
For years now, they’ve told us that we can’t afford—that the government providing healthcare to all people is just unimaginable; it can’t be done. We don’t have the money to rebuild our infrastructure. We don’t have the money to wipe out poverty. We can’t do it. But all of a sudden, yeah, we do have $700 billion for a bailout of Wall Street.