ACTION REQUIRED: Executive Power Grab [View All]

[shraby]

in Banking Bail Out Bill

by Larry Madill
Sat Sep 20, 2008 at 12:39:52 PM PDT
If you care to check my posting and comment history you will see that I have been totally in favor of a bail out rescue plan for our financial markets. I've said and will continue to say that it is a necessary evil to keep the U.S. from collapsing into a Second Depression. Sorry, I don't see pie in the blue sky alternative proposals like the government paying off everyone's mortgages as viable, nor do I think we should let the economy collapse in a heap to punish the rich (who never get punished) and then go off to live in a Barter Town world were we all grow corn on the roof. The U.S. definitely needs to do something fast to stop the erosion of the financial markets.

BUT, as NPR's Adam Davidson points out in his new Planet Money Blog, this bill also appears to constitute the greatest transfer of political power from the Congressional to the Executives Branches ... Possibly ever.

<http://www.dailykos.com/storyonly/2008/9/20/153952/268/395/603713>