Tuesday, September 23, 2008

American Bailout Plan

It would only be truly American if the people who made the biggest mistakes to get bailed out, while it's controversial to suggest that they should at least take a pay cut? If you haven't heard, Paulson is requesting $700 billion to bail out whoever they feel like on Wall Street, which is mostly fine since the alternative is probably worse, and the final cost should be much less than $700 billion. Some members of Congress are pushing for a cap on executives' pay so that they can't make millions of dollar while getting bailed out by taxpayers at the same time. I guess once you're rich and powerful enough, you never need to suffer the consequences of your mistakes anymore. Cool.

Related is this story about a conflict of interest regarding the bailout. In fact, Newt Gingrich brings this up during his interview, and for once I agree with him.

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