September 24, 2008
The Hill has a funny story about how Republicans in Congress really don't want to call this a bailout.
Call it an "investment." Call it a "stabilization plan." Call it a "structured rescue plan." Just don't use the B-word: "bailout."
My favorite quote:
"My constituents aren't calling and asking me to help their brokers," said Minority Leader McConnell.
I'd think not.
My daily reading from the Dalai Lama for September 25 says:
Anything that contradicts experience and logic should be abandoned.
Prescient words indeed.
It is a giveaway - these companies should have to pay this money back to the US treasury. Why should those of us struggling week to week to buy gasoline to get to work and groceries, have to "bail out" companies who paid CEO's millions of dollars?
I'm sorry, bailout, investment, financial stabilization process, doesn't matter what it is called, I still do not understand the specific what's, where's, who's, and why's.
$700B, OK, that much I get.
- What, specifically, are we the USA investing in?
- Where, specifically, are these investments and what is their current status.
- Who, specifically, decides where to investment my-your-our money & at what rate?
- Why, specifically, is money going to investment A and not B, you know what is the decision criteria, and how are these investments evaluated.
If this info is posted somewhere please advise.
thanks.
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