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Originally Posted by Jet Gorgon People need credit to do business. |
Of course, I agree but is the bill pre GWB's initial bill or post the right way to free up credit? Many other alternatives more palatable to the public. Citibank, JP Morgan and Warren Buffet seem to be on the right track. Why can't the Treasury come up with a similar approach. Buy into the failed lending organizations so some influence can be had over business decisions and reap the profits as share holders. This idea is only untenable because the "conservatives" would label it as nationalization of the lending organizations and we certainly can't have that even when the "consequence of inaction spell doom". Instead we have a bill which may not work to free up credit, and lacks any real control over the bailed out institutions.
Bad bills get nay votes. No need for anyone to jump on the Republicans or the Democrats who voted against it.