What the hell?!
Deal said near on bailout.
God I hate Congress. HATE. There seems to be the belief that asking aggressive questions is good enough opposition to things. Sit in front of the TV cameras, talk tough, and then go ahead and vote for whatever it is you were just railing against anyway.
There is no way that the bailout plan was fixed in a day with a few little compromises. It was lightyears away from something that isn't just throwing good money after bad. I know there was no way they were going to follow my advice (jerks didn't even ask) and just leave the dummies who lost their money to their fate, but I had hoped they'd stand by the outrage they showed publicly and not let themselves get bullied into some rush job by the President.
But here we go. Several hundred billion dollars being handed to people who've already gambled and lost, followed by countless foreclosed homes that the government's just going to hang onto to avoid depressing housing prices. Executives will have the chance to get multimillion dollar compensation packages and the financial industry will have learned the valuable lesson that they can play these ridiculous paper games, inflate bad investments, and the government will come charging in and clean up their mess.
I guess the only hope is that the analysts are right and that the restrictions on executive compensation will make most banks hesitant to take advantage of the dela and it just fizzles anyway.