This is getting funny. As if the mortgage bailout plan wasn’t ridiculous enough, everyone and their brother is now coming to Uncle Hank and Uncle Ben for a little help. You know, for a vital national interest.
Major problems with the bailout include provisions for Hank to have no oversight (do we really Trust the executive branch anymore?) plus it also is not clear about what assets Uncle Hank is allowed to buy. Instead of specifying mortgage backed securities, it contains open ended language including the term, “other assets as deemed necessary to stabilize financial markets.”
Uh oh. We should have let Bear go down. Once we walked down that path look who is standing in line next:
Perhaps my University can go get a handout too – it is in the vital public interest that our students don’t shell out so much money just tp pay my silly salary. While we are at it, why don’t all of us knock on our neighbors’ doors … all options should be on the table in times of crisis, no?