From the reports about the contours of the deal, it appears that the final product is indeed less horrible than it could have been. The ACORN slush money is gone, there is no tax (only the promise that a recoupment plan will be submitted to firms in the future if the taxpayers are out of pocket), there is an insurance aspect and there is greater oversight. The House GOP “got something.” Nancy Pelosi  “got something” — a bunch of GOP votes for the bill. John McCain may have gotten something — proof that he prevented the House GOP from being steamrolled, which in turn resulted in a better, bipartisan bill. And Barack Obama got two weeks of attention on the financial crisis.

Monday will be a telling day — the market will open, more polling will be taken, and the bill will be drafted and ready for a vote. If this amounts to the greatest financial triage in history all involved will be remembered fondly. If it is too little, too late, all of them — not to mention every American — will pay the price.

del.icio.us

Google

Facebook

This entry was posted on Sunday, September 28th, 2008 at 11:21 AM and is filed under Contentions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.