Whitehouse drew up bailout plan months ago

[Sassy]

Text of Draft Proposal for Bailout Plan
         
Published: September 20, 2008

LEGISLATIVE PROPOSAL FOR TREASURY AUTHORITY

TO PURCHASE MORTGAGE-RELATED ASSETS
Sec. 8. Review.
Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.  http://www.nytimes.com/2008/09/21/business/21draftcnd.html

watch the video here http://www.washingtonpost.com/wp-dyn/content/video/2005/04/12/VI2005041201139.html

http://free.financialmail.co.za/08/0919/front/aedop.htm

White House Admits It Drew Up Bailout Months Ago
Posted September 24th, 2008 by xntryk1

http://tinyurl.com/4rc3vs

Tuesday, September 23, 2008

White House Admits It Drew Up Bailout Months Ago
by George Washington

No one could have seen this coming, right?

Well, actually, the White House has admitted that they drew up the bail out plan months ago:

[White House Deputy Press Secretary Tony] Fratto insisted that the plan was not slapped together and had been drawn up as a contingency over previous months and weeks by administration officials. He acknowledged lawmakers were getting only days to peruse it, but he said this should be enough.

But the government did nothing real to prevent the financial meltdown. Instead, it let the meltdown happen, and now is trying to ram through terrible and counter-productive legislation drafted previously by using fear tactics.

Does this sound familiar? It should.
http://www.dailypaul.com/

[ScottA]

Standard high pressure sales tactic. Every basic sales course teaches it. Put the pen in their hand and rush them to sign.

[MountainDon]

So what to do? The idea of a bailout angers me.

We're sitting here with no mortgages on any of our properties. No outstanding loans. No credit card card that we haven't got the cash for. Totally in favor of letting failing businesses fall flat on their faces if that is the way things work out. Totally in favor of letting the greedy and the stupid get what they have earned.

And yet, I wonder what would happen to the country as a whole if the cards were left to fall. I haven't a clue.

The fact that the Whitehouse was making plans months ago doesn't anger me. It's good that someone was thinking ahead even a tiny bit.

[Sassy]

And they want us to give them carte blanche...  "Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."   grrrr