You just know how this 700 Billion dollars is going to be handled, like the Iraq war chest.

[Kablooie]

Billions just seem to -- poof!! -- disappear somewhere and everyone goes, "That's ashame. Oh well."

Every super rich slime ball in the country is going to be using all his power and influence to
drag a little bit of the money out for himself.

Probably only a small percentage will go to actually fix the economy.

The only up side is if Obama takes over the White House.
There might be a little oversight if that happens, otherwise...

[NC_Nurse]

1. Have they hired Halliburton and KBR to handle the job yet?

THAT would figure. :eyes:

[Marie26]

4. They probably will

The draft gives Paulson authority to give the money to contractors, w/o limitations, w/o any of the normal protections that regulate federal contracts. And the contractors get unlimited "adminstrative fees", as well. So theoretically, yeah, Paulson could hire Halliburton to purchase these assets & then give them a $50 billion dollar "adminstrative fee" as well.

"(b) Necessary Actions.–The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation:

(1) appointing such employees as may be required to carry out the authorities in this Act and defining their duties;

(2) entering into contracts, including contracts for services authorized by section 3109 of title 5, United States Code, without regard to any other provision of law regarding public contracts;"

Sec. 7. Funding.

For the purpose of the authorities granted in this Act, and for the costs of administering those authorities, the Secretary may use the proceeds of the sale of any securities issued under chapter 31 of title 31, United States Code, and the purposes for which securities may be issued under chapter 31 of title 31, United States Code, are extended to include actions authorized by this Act, including the payment of administrative expenses. Any funds expended for actions authorized by this Act, including the payment of administrative expenses, shall be deemed appropriated at the time of such expenditure.



http://theheritagefoundry.org/2008/09/20/text-of-the-bailout-legislation/

[MichiganVote]

2. Blackwater on standby in case we don't bend far enough over for Paulson?

[Historic NY]

3. How much of that is still missing?

[iceman66]

5. I think they're counting on it!