That's not at all what I'm saying. It was a bad bill. I'm not supporting Bush here. I think he was ill informed and he panicked wanting something done right away. McCains involvement was key in swaying some "commited" Republicans to vote against it.
he was definitely ill formed and they keep adding alot of bullshyt to this bill. That will only complicate it much more. McCains involvement was key, when he said he was tenatively for the bill, right before the vote. Gingrich lead the revolt of those House republicans.
You really need to follow this story more closely. The original bill would have put the Feds in charge of a bunch of bad paper that they would have absolutely no clue (nor the manpower) as to how to effectively deal with it. The revisions to the bill that will be votd on in the Senate tonight should be vastly improved. Frankly, I'm leaning more and more toward Salty's and Tex Tiger's positions of "let nature take it's course". Boobs are way too big and clearly fake. It'd be like exercising with those big rubber balls.
Trust me I have followed it closely, the revisions suck, just like the first bill. The tax breaks are bs and the accounting change will create more financial disaster. The bill still has the fed holding worthless paper, so thats the main concern here and that hasnt changed. Nobody knows the value of these bad assets, a huge problem.
but isnt it reasonable to get them at a cut rate? anyone have an idea what the bargain price is? all this property is worth a lot of money, and will be worth more in the future.
Yes it is reasonable, but it should be handled by people who know what they are doing and have the wherewithall to price and sell them. That is not the US Treasury.
