'Trust me' on the bailout? That's just not good enough

[maddezmom]

'Trust me' on the bailout? That's just not good enough

America's financial mess was caused to a great degree by a culture of lax regulation and even less oversight, in which ordinary Americans were told to trust the government and Wall Street to do the right thing.

President Bush's proposed solution, which he wants Congress to authorize immediately, tells taxpayers to write a check for $700 billion and trust the government and Wall Street to do the right thing - with inadequate regulation and little oversight.

We agree with Barack Obama that the administration's plan lacks regulatory muscle, and we agree with John McCain when he said: "When we're talking about a trillion dollars of taxpayer money, 'trust me' just isn't good enough."

To protect the U.S. taxpayer, Congress must ensure that the bailout comes with clear ground rules and vigilant oversight. In an appalling, though familiar fashion, the ground rules proposed by the Bush administration are wholly unacceptable.

~snip~

We've seen this kind of over-reaching from the Bush administration before. It has usurped far too many powers under a banner of urgency - think wiretapping - and abused those powers. Now, Congress and the American people are being told that unless they quickly approve sweeping executive powers for the bailout, capitalism may collapse.

more: http://www.iht.com/articles/2008/09/23/opinion/edtrust.php

[still_one]

1. Why would I trust ANYTHING from john mccain when it was phil graham

and mccain who helped propel us into this mess with their deregulation

[Locrian]

2. bail - out = shock doctrine in action

I want to F-ING SCREAM this. We are RIGHT NOW being sold down the river. This has HAPPEND ALL OVER THE WORLD and it is now happening in the US.

This will be an anchor around OBAMA if he wins next year. It is not enough to win the presidency if you inherit this mess because it will PARALYZE the dems to be able to make any changes.

This is IT. This is the final death blow to the American Experiment.